We inform you that starting from 3/8/1435 H (June 1, 2014), banks can amend and increase the daily maximum limit for purchases made through point-of-sale devices on the Saudi Payments Network as follows:

- Banks can raise the daily limit allowed for purchases at point-of-sale devices from twenty thousand Riyals to sixty thousand Riyals based on customer requests and the bank's discretion.

- Customers can choose and set the desired limit for purchases above twenty thousand Riyals through direct communication channels (phone and online banking), provided that the maximum limit does not exceed sixty thousand Riyals. This request is subject to the bank's discretion for feasibility.

- The bank must implement appropriate control measures and monitor purchase transactions directly and continuously to detect any violations and mitigate risks, especially for external transactions that may not require a PIN. This should be clearly explained to the customer, and their prior consent should be obtained.

- Technical coordination with SAMA should be conducted, along with necessary pre-testing, and monthly reports should be submitted for the first three months regarding the implementation results of the aforementioned regulations.

According to Circular No. (391000062299) dated 2/6/1439 H, SAMA has decided to allow banks to raise the maximum payment limit via point-of-sale devices to 200,000 Riyals based on customer requests and the bank's assessment, with the following considerations:

1. Complete the necessary technical requirements in coordination with the Mada Authorization Center in the General Directorate of Payment Systems and conduct pre-testing, as well as submit monthly reports for the first three months on the implementation results.
2. All banks must allow the purchase limit adjustment without additional fees through one of the bank's electronic channels, enabling customers to access the service from within and outside the Kingdom. These channels should be mentioned in the terms and conditions agreements at the start of the banking relationship with the customer after this circular's date.
3. Banks should conduct awareness campaigns across all electronic channels for their customers in both individual and merchant categories regarding the possibility of raising the purchase limit.
4. All banks should develop fraud monitoring and detection systems in accordance with these new amendments.

Additionally, starting from September 30, 2018, all banks can control increasing this limit to more than 200,000 Riyals for customer segments wishing to increase it based on their risk assessment, and they must notify SAMA regarding the approved purchase limits for each category of their customers accordingly.