The Saudi Central Bank “SAMA” has announced that from Friday, March 9, 1447, which corresponds to tomorrow, February 20, 2026, financial institutions will be prohibited from charging more than the maximum fees for business and basic services provided to retail customers in their accounts on the (X) platform, as stipulated in the Financial Institutions Services Tariff Guide published by the bank, which replaces the bank tariff currently in force.
In addition to strengthening the protection of customers of financial institutions, the Financial Institutions Services Fee Guide aims to strengthen financial inclusion by enabling them to benefit from financial institutions’ services and products at possible and fair fees, increase the level of disclosure and transparency that contributes to improved confidence in the financial sector, and support digital transformation by facilitating the provision of services through electronic channels.
Change of price
The Financial Institutions Service Fee Guide includes a number of fee amendments, including reductions in the maximum fees for a number of financial services provided to retail customers, including fees for financial transfers from bank accounts and electronic wallets, as well as administrative fees related to many financial products, Mada Card reissues, purchasing operations, and international cash withdrawals.
The new fees contained in the guide will take effect within 60 days of publication (by February 20 at the latest) and must be applied by all financial institutions subject to central bank supervision and control, including payment companies that provide many financial services.
The fee for a lost card is 10 Riyals
It is worth noting that many of the service fees listed in the new guide have been significantly reduced, with the fee for issuing a lost or damaged card, which customers were previously required to pay, now up to R10. The amount of additional cards issued was previously 30 riyals, but has now been increased to a maximum of 10 riyals. The proportion of international purchasing transactions is also 2% of the transaction amount. This change also includes a personal loan fee, which is now 0.5% of the loan amount, or 2,500. Riyal (whichever is lower). Previously it was 1% of the loan amount or 5,000 riyals (whichever is lower).
In addition to issuing continuing payment orders from branches and issuing documents evidencing debts and account statements, the new guide also includes reducing duties on unreasonable disputes against purchase transactions, issuing additional check books, and issuing or canceling bank checks.
The Saudi Central Bank “SAMA” has announced that for accounts on the (x) platform, from tomorrow, Friday, March 9, 2026, equivalent to February 20, 2026, financial institutions will be prohibited from exceeding the maximum fees for services provided to basic business and retail customers as outlined in the Financial Institutions Services Fee Guide published by the bank, which replaces the currently applicable banking fees.
In addition to increasing protection for financial institution customers, the Financial Institutions Services Fee Guide aims to strengthen financial inclusion by providing access to financial institutions’ services and products at reasonable and fair fees, disclosure and transparency levels. This will contribute to increasing trust in the financial sector and support digital transformation by facilitating the delivery of services through electronic channels.
Price revision
The Financial Institutions Services Fee Guide includes several fee amendments, including reductions in the maximum fees for several financial services provided to retail customers, such as transfer fees from bank accounts and e-wallets, as well as administrative fees related to certain financial products, Mada card reissues, international purchases and cash withdrawal transactions.
The new fees outlined in the guide are scheduled to take effect within 60 days of publication, by February 20 at the latest, and must be applied to all financial institutions subject to central bank supervision and supervision, including payment companies that provide many financial services.
Lost card 10 riyals
It is noted that in the new guide, some service fees have been significantly reduced, and the fee for issuing a lost or damaged card is now only a maximum of 10 riyals, whereas previously customers had to pay 30 riyals. Additional card issuance fees have also increased from 30 riyals to a maximum of 10 riyals. In addition, the proportion of international purchase transactions will be 2% of the transaction value, and personal loan fees will be increased from 1% of the loan amount or 5,000 riyals (whichever is lower) to 0.5% of the loan amount or 2,500 riyals (whichever is lower).
The new guide also includes reduced fees for disputing erroneous purchase transactions, issuing additional checkbooks, issuing or canceling cashier’s checks, issuing continuing payment orders from branches, and issuing documents evidencing debts and account statements.
