Saturday, December 27, 2025
SAMA Launches Electronic Check Clearing Service to Speed Up Check Processing
The Electronic Check Clearing System (ECCS) is now one of the many electronic services offered by the Saudi Central Bank (SAMA), according to an announcement made on Thursday.
The new service aims to complete check clearing within one business day, making the process faster and more efficient for banks and customers.
How the Electronic Check Clearing System Works
The ECCS is a computer-based system that replaces the old-fashioned way of checking things with paper. After converting paper checks into secure digital images and data, banks can immediately share information with each other. Read: Minus 10°C in Hail: Coldest Temperature Ever Recorded in Saudi Arabia
After this operation, banks no longer need to move checks by hand. This means that it takes less time to acquire money, costs less to run, and has less danger of fraud.
Advanced technology is used in ECCS.
The system uses Magnetic Ink Character Recognition (MICR) along with image-based processing to handle check transactions. These technologies allow checks to be processed and settled more quickly than manual clearing methods.
Part of SAMA’s Digital Transformation Strategy
In a press release, SAMA said the launch of the ECCS supports its digital transformation strategy framework. The goal of this strategy is to provide automated digital services to individuals and organizations through a secure and unified digital portal.
The SAMA e-Services Portal offers digital alternatives to traditional transaction methods. These services improve user experience by providing faster processing, easy access, and strong data protection measures. Recommend: Saudi Health Ministry begins inspections of expatriate workers and food sector workers
Existing Services on the SAMA e-Services Portal
Since its launch, the e-Services Portal has provided several online services, including:
➤ Inquiries about bank accounts, deposits, and safe deposit boxes of deceased individuals.
➤ Submitting complaints against financial institutions.
➤ Requesting personal data subject rights.
➤ Applying to join SAMA’s Regulatory Sandbox.
➤ Requesting non-objection approval for leadership positions.
SAMA confirmed that more electronic services will be added in the future. See Also: Riyadh Metro reveals new packages
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| SAMA Launches Electronic Check Clearing Service to Speed Up Check Processing |
