Extension of the Period for Making Inventories of ATMs and Feeding them With Cash
| No: 351000009927 | Date(g): 25/11/2013 | Date(h): 22/1/1435 |
Translated Document
Referring to SAMA Circular No. 2193/BCI/102 dated 13/2/1419 H, which includes internal controls on ATMs and POSs on a daily basis, whether these ATM's are outside the branches or inside them, according to the instructions issued in this regard in the rules and procedures of the Saudi Payments Network (SPAN Business Book) circulated by Circular No. 341000076614 dated 20/6/1434 H. Based on the request submitted by the Bank Operating Officers Committee (BOOC) regarding the extension of the current ATM audit period, and considering the technological advancements in systems and ATMs that support their monitoring and remote access to withdrawal transaction documents, SAMA has decided to extend the scheduled period for making inventory and feeding of ATMs as follows:
• Setting the maximum period for making inventory and feeding of ATMs to five business days for all ATMs located both inside and outside the bank branches.
• Banks must immediately feed the ATM's when the cash in the ATM reaches 20% of the total cash across all denominations.
• When there are complaints or claims from customers that require the bank to conduct a physical inventory, the bank must do so immediately regardless of the bank's schedule in normal cases.
To review and act accordingly and inform SAMA of what has been done in this regard within a month from its date.