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UAE banks suspend credit and debit card accounts for some users

UAE banks suspend credit and debit card accounts for some users

The Central Bank ruled that all banks must have updated Emirates ID records for their customers by February 28

Banks in the UAE have suspended the accounts of those users who failed to update their Emirates ID details last month, in line with Central Bank rules.

A directive issued by the financial regulator last year mandated all the banks in the country to update their customers’ Emirates ID records before February 28, 2019.

Banks said some customers failed to update their ID details despite reminders.

“Emirates NBD has been proactively encouraging customers to update their ID documentation well in advance of the recent UAE Central Bank mandate,” Suvo Sarkar, head of retail banking and wealth management at Emirates NBD said in a statement.

“As per Central Bank guidelines, customers who did not update their details within the given timeframe faced suspension of their debit or credit card, following which the card cannot be used for any transaction, such as ATM cash withdrawals, retail purchases or e-commerce transactions.

“The suspension remains in force until the customer updates their details with us,” he added.

Commercial Bank International (CBI) also urged its customers to ensure their ID details are updated.

“If the bank has not been able to verify your Emirates ID details within this time [February 28, 2019], restrictions will be placed on any debit / credit cards provided and Internet/mobile banking services until this information is provided,” the bank said on its website.

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