Banks must put in place an appropriate consumer protection framework that ensures implementation of all requirements set out in the Banking Consumer Protection Principles (BCPP) and SAMA instructions to protect beneficiaries from risks involved in Agent Banking services, such as fraud, loss of privacy, loss of service, etc.
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The Bank must ensure that the following requirements, at a minimum, are complied with at all times:
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| | a. | The Agent must have signs that are clearly visible to the public, indicating that it is a provider of services of the Bank with which it has an Agent Banking contract. The Agent must not represent to the public that it is a Bank.
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| | b. | The Agents must issue receipts for all transactions undertaken directly through them. Banks must provide their Agents with necessary tools that enable generation of receipts or acknowledgements for direct transactions carried out through Agents.
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| | c. | Where the Agent acts as a receiver or deliverer of documents, the Agent must provide an acknowledgement for all documents received from or delivered to the Customer. Such acknowledgement should include all relevant details.
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| | d. | Customer complaints must be resolved in accordance with SAMA requirements on customer complaints. The Bank must keep record of all customer complaints and how such complaints were redressed.
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| | e. | The Customer must be made aware of the fact that he/she must not carelessly store PIN and other critical information or share such information with other parties, including Banks and their Agents.
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| | f. | The Bank must take necessary steps to promote awareness among Customers about its Agent(s). Such awareness should cover, at a minimum, the responsibilities of the Bank and the Agent, rights of Customers, safety measures to make transactions with Agents, services that can or cannot be provided by the Agent, commissions, and fees.
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| | g. | Banks must publish and update the details of their Agents (e.g. name, address, and communication channels) on their websites, including existing Agents, terminated Agents, Agent relocations and/or transfers.
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| | h. | Protection measures of Customer information must be developed. Banks and Agents must ensure that such information is not disclosed to unauthorized third parties without prior non-objection of SAMA. Non-Compliance with this provision is considered a crime punishable by law as per the Banking Control Law.
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| | i. | A client manual of Agent Banking services must be established. The manual should address the commitment of the Bank and the Agent to security, privacy policy and confidentiality of data, reliability and quality of services, transparency of products and services, and prompt response to enquiries and complaints.
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| | j. | The Agent must adequately disclose and display other information on its business premises, which includes, but not limited to, the following:
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| 1. | Its appointment as an Agent of a Bank and the duration of the appointment;
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| 2. | The list of services, client manual, fees and charges, and daily transaction limits for Customers;
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| 3. | The dedicated single toll-free number(s) through which Customers can contact the Bank or the responsible branch; and
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| 4. | The current license for the commercial activity being undertaken by the Agent (prominently displayed on its business premises).
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