New regulations on the use of Saudi ATM cards overseas have been introduced by Al Jazeera Bank. Buyers will be charged a 2.75% fee for using ATM Card (Medi) overseas and also charged for the currency difference.
As per the Mecca newspaper, Abdul Majid Al Nahdi, who is the chairman of public relations at Al Jazeera Bank, stated that the enforcement of the new regulations will commence 40 days after the year 2020.
These changes have been identified by Al-Nahdi as originating from Al Jazeera Bank. Some banks, but not all. The policy for setting and changing fees is determined by each individual bank. The Saudi Arabian Monetary Authority SAMA has given permission to all banks.
Nahdi clarified that if a mobile user conducts any banking operation, they will be held responsible for it. His response was that a charge of 2.75% would be applied. If the card is used online, the fee will be charged.
Fahas Dori (MVPI) Inspection Detail and Fees in Saudi Arabia
It was asked if there would be extra charges for using Saudi currency outside the country. The response confirmed that a fee of 2.75% will be applied.
One question was, if a customer’s ATM card was suspended, would the ‘Mada and ‘Apple Pay’ facilities Will be susp’. Would both these services remain effective until the bank was contacted in such a case?
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