Banking costs reduced in Saudi Arabia: Key details revealed
The new guide will replace the current Banking Tariff and introduce reductions and caps on customer fees across banking and payment services
20 February, 2026
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Saudi Arabia’s banking customers are set to benefit from sweeping regulatory changes as the Saudi Central Bank (SAMA) rolls out a new Financial Institutions Services Tariff Guide effective Friday, Feb. 20.
The new guide will replace the current Banking Tariff and introduces broad reductions and caps on customer fees across banking, financing and payment services. The move comes as part of SAMA’s regulatory mandate to strengthen transparency, fairness and consumer protection, according to a Saudi Gazette report.
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The revised framework applies to all financial institutions under SAMA’s supervision, including banks and payment companies. Institutions will be strictly prohibited from charging fees exceeding the maximum limits set for basic transactions and services in the updated Tariff Guide.
Officials said the initiative reflects SAMA’s ongoing efforts to promote fair pricing, reinforce disclosure standards and expand financial inclusion by enabling wider access to financial services at regulated cost levels. The guide also places strong emphasis on encouraging electronic channels, aligning with Saudi Arabia’s broader digital transformation drive.
Mandatory transparency and fee caps
SAMA emphasised that financial institutions must strictly adhere to the new maximum fee limits. The Central Bank clarified that the prescribed fees do not include value-added tax (VAT) for services subject to VAT regulations.
Under the updated guide, banks and financial institutions are required to clearly disclose all fees and ensure customers fully understand them when obtaining services or products. Institutions must also secure prior customer consent through established channels for any fees or charges. Customers must be notified immediately via SMS when fees are deducted or issued.
In a clear warning to the sector, the Central Bank stated that banks are not permitted to impose fees related to the presence or absence of funds in bank accounts or e-wallets. Additionally, customers cannot be charged for any third-party costs after a product or service has already been provided.
The guidelines introduce reductions across several service categories. These include administrative fees tied to certain financing products, reissuance fees for Mada cards, charges on international purchases and cash withdrawals, fees for money transfers from bank accounts and e-wallets, and fees for using Mada cards at point-of-sale terminals within the Gulf Cooperation Council (GCC) network.
Electronic check clearing system launched
In a separate development dated December 25, 2025, SAMA announced the addition of the Electronic Check Clearing System (ECCS) to the list of e-services available through its official website. The new service is designed to complete check clearing within one business day.
According to a press release issued by the bank, the initiative forms part of SAMA’s digital transformation strategy framework. The strategy seeks to provide automated services to individuals and entities through a secure and unified digital portal, a Saudi Press Agency report said.
The e-Services Portal offers digital alternatives to traditional transaction methods, improving user experience through faster processing, simplified access and enhanced data protection measures.
Since its launch, the portal has delivered several electronic services, including inquiries about accounts, deposits and safe deposit boxes belonging to deceased persons; filing complaints against financial institutions; requesting the exercise of personal data subject rights; joining SAMA’s Regulatory Sandbox; and requesting non-objection for leadership positions. The Central Bank confirmed that additional electronic services will be introduced in due course.



















