Saudi Central Bank slashes banking and payment fees: Here’s all you need to know
The Saudi Central Bank (SAMA) has released a new Fees Guide, cutting customer charges across banking and payment services. The guide lowers administrative fees for financing, Mada card transactions, checks, standing orders, and electronic transfers, while reducing or eliminating account document costs. Effective within 60 days, the update promotes fairness, transparency, financial inclusion, and digital banking adoption nationwide.
The Saudi Central Bank (SAMA) has released a new Fees Guide, cutting customer charges across banking and payment services. The guide lowers administrative fees for financing, Mada card transactions, checks, standing orders, and electronic transfers, while reducing or eliminating account document costs. Effective within 60 days, the update promotes fairness, transparency, financial inclusion, and digital banking adoption nationwide.
