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Effective from Jan 31 2025 - Jan 30 2025 To view other versions open the versions tab on the right
Banks shall communicate with and try to reach customers, without disclosing any financial data, in all time periods specified by all possible legal means, for example:
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SMS.
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Email.
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Available phone numbers.
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Official letter sent by the mail to customers inside and outside Saudi Arabia.
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On-site visits by the bank relation staff.
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Messages on bank statements showing the account status and the actions required from the customer.
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Available public search tools and official information centers that help reaching customers by providing banks with the customer new contact numbers not registered with the bank, or informing banks of the customer status if alive, left Saudi Arabia, or if his/her business and financial activity was terminated.
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Media awareness advertisements explaining the relevant regulations, the actions required from dormant account holders, and balance search procedures.
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Inquiries to competent official authorities.
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Banks shall communicate with customers using the above mentioned methods during the different phases of inoperative accounts at intervals. Therefore, customers shall be contacted, at least, two times during each phase. If the customer is not responding and cannot be reached, banks shall stop communication a year after each stage and document the methods of contact used.
