Saudi Arabia Credit Card Rules: New Changes
- Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) is implementing updated regulations for credit card issuance and operation.
- Under the new framework, credit card issuers must now inform customers of any fee changes via SMS.
- The regulations also introduce a revised fee structure for cash withdrawals.For withdrawals below 2,500 Saudi Riyal (SR), fees are capped at 3 percent of the transaction value.
Saudi Arabia’s credit card landscape is changing! New regulations from the Saudi Central Bank (SAMA) aim to cut costs and boost transparency for consumers. Expect lower fees on cash withdrawals, capped international purchase fees, and mandatory SMS notifications for any fee adjustments, granting customers 14 days to cancel their agreements. The focus is on enhancing the digital payment ecosystem with more diverse options. thes new credit card rules also cover unified disclosure templates, ensuring clarity on all fees. Stay informed about these vital changes, as news Directory 3 continues to report on financial updates. Discover what’s next for credit card users.
Saudi arabia Updates Credit Card Regulations, Aims to Lower Customer Fees
Updated june 21, 2025
Riyadh, Saudi Arabia – The Saudi Central Bank (SAMA) is implementing updated regulations for credit card issuance and operation. These changes, set to take effect in 30 to 90 days, are designed to reduce costs for consumers while boosting transparency.
Under the new framework, credit card issuers must now inform customers of any fee changes via SMS. Customers then have 14 days to terminate thier agreements if they disagree with the changes. furthermore, topping up e-wallets using credit cards will no longer incur extra charges.
The regulations also introduce a revised fee structure for cash withdrawals.For withdrawals below 2,500 Saudi Riyal (SR), fees are capped at 3 percent of the transaction value. Withdrawals of SR2,500 or more will have a maximum fee of SR75. Previously,cash withdrawal fees were SR75 for transactions up to SR5,000 and 3 percent for amounts exceeding SR5,000,with a maximum fee of SR300.
Fees for international purchases are now set at 2 percent of the transaction value. Customers can also deposit amounts exceeding their credit limit and withdraw them without incurring charges. These changes to credit card rules are part of SAMA’s broader mission to enhance Saudi Arabia’s digital payment ecosystem and provide diverse payment options for both residents and visitors.
to increase transparency, issuers are required to immediately notify customers of financial transactions and send account statements via SMS. They must also provide tools that allow customers to estimate rewards and international charges before making purchases. Regarding repayment, customers can pay their full outstanding balance without incurring late fees, and a mandatory grace period of at least 25 days is guaranteed.
The new regulations unify disclosure templates for all fees, charges, and benefits within credit card agreements, promoting clarity for consumers. Other charges under the new system include SR25 for invalid transaction disputes and account statement requests. SAMA collaborated with global payment companies to assess and reduce transaction costs as part of these changes to credit card rules.
what’s next
The Saudi Central Bank will monitor the implementation of these new regulations to ensure they effectively lower costs and increase transparency for credit card users in Saudi Arabia. Further adjustments may be made based on market feedback and evolving consumer needs.