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Riyadh – Saudi Arabian Monetary Agency (SAMA) has distributed a circular to all banks not to impose any fees or commissions on the accounts of Government employees' salaries and accounts of students' rewards.
SAMA demands banks not to impose any fees on salary and rewards accounts
2024-11-05
E-Media:Riyadh – Saudi Arabian Monetary Agency (SAMA) has distributed a circular to all banks not to impose any fees or commissions on the accounts of Government employees' salaries and accounts of students' rewards.Some banks impose fees on accounts of salaries and rewards, due to the small amounts, named as the minimum fees for balance, while some banks impose fees on ATM withdrawal if the balance was low, "Al-Riyadh" newspaper said.Most of universities, colleges and schools hand over the students reward by check to Saudi banks, rather than the process of cash delivery in the past years.
