Saudi Arabia’s Central Bank “SAMA” has announced that from today (Friday, March 3, 2026) on accounts on the (X) platform, financial institutions will be prohibited from exceeding the upper limit of fees for business and basic services provided to retail customers as set out in the Bank’s Financial Institutions Services Tariff Guide, 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.
significant decrease
It is worth noting that many of the service fees listed in the new guide have been significantly reduced, with customers previously having to pay up to 30 Riyals for the issuance of a lost or damaged card, whereas previously they had to pay a maximum of 10 Riyals. 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. The change also includes a personal loan fee, which is now 0.5% of the loan amount, or 2,500 riyals. (whichever is smaller). 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 from today (Friday) 1447/9/3 AH corresponding to 2026/2/20, financial institutions will be prohibited from exceeding the maximum fees for services provided to basic business and retail customers as outlined in the bank-issued Financial Institutions Services Fee Guide, which replaces the currently applicable bank fees, on the platform (×) account.
In addition to increasing the protection of 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, increasing the level of disclosure and transparency that contributes to building trust in the financial sector, and supporting digital transformation by facilitating the provision of services through electronic channels.
Price revision
The Financial Institution Services Fee Guide includes a number of fee revisions, including lowering the maximum fees for several financial services provided to retail customers, such as transfer fees from bank accounts and e-wallets, as well as various administrative fees related to loan products, Mada card reissuance, international purchase transactions, and cash withdrawals.
The new fees outlined in this guide will come into force within 60 days of publication (up to February 20) and must be applied by all financial institutions, including payment companies, providing a variety of financial services under central bank supervision and regulation.
significant reduction
In the new guide, it is noted that some service fees have been significantly reduced, as the issuance fee for a lost or damaged card is now set at a maximum of 10 riyals, whereas previously customers had to pay 30 riyals. Additional card issuance fees have also increased from the previous 30 riyals to a maximum of 10 riyals. In addition, the proportion of international purchase transactions is now 2% of the transaction value. The changes also include the personal loan fee, which has been reduced 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 confirmatory debt documents and account statements.
