Tuesday, December 23, 2025
SAMA reduces Banking Service Fees of Transfers, Cards and Financing for Individuals
The Saudi Central Bank (SAMA) has issued a new Fees Guide for Financial Institutions’ Services, introducing wide fee reductions and limits on charges for customers across banking and payment services. The move is part of SAMA’s regulatory role to improve transparency and protect consumers.
Once it comes into force, the updated regulations will take the place of the current Banking Tariff. It will apply to all financial institutions supervised by SAMA, including banks and payment service providers. The updated fees will take effect within 60 days from the date of publication.
Digital services, transparency, and fairness take center stage
SAMA claimed that the new guide's goals are to make sure that prices are fair and reasonable, make fees clearer and more open, and help people who don't have access to financial services by making them cheaper. The guidance also tells users to embrace electronic banking, which helps the financial sector's continuous digital transformation.
This is the first edition of the fees guide covering financial institutions broadly and the third edition specifically related to the banking sector.
Lower administrative fees on financing products
Under the new guide, SAMA reduced the maximum administrative fees for non-real estate financing products, including consumer finance and motor finance leasing.
➤ Previous limit: 1% of the financing amount or SR5,000, whichever is lower
➤ New limit: 0.5% or SR2,500, whichever is lower
Reduced Mada card and transaction fees
The guide introduces lower and clearly defined fees for Mada card services:
■ Re-issuing a Mada card (due to loss, damage, or three incorrect PIN attempts) reduced from SR30 to SR10
■ International transactions capped at 2% of the transaction amount
■ International cash withdrawals using Mada cards (excluding GCC NET) capped at 3%, with a maximum fee of SR25
■ Fees for invalid objections to transactions or account statements capped at SR15
SAMA clarified that Mada card fees do not include delivery costs. Customers can collect cards directly from bank branches at no additional charge.
Cheaper checks and standing order services
Several fees related to checks and payment instructions have also been reduced:
✓ Issuing a bank check reduced from SR10 to SR5
✓ Copy of a check older than one year reduced from SR20 to SR10
✓ Setting up a standing payment order at a branch reduced from SR15 to SR5
✓ Canceling a standing payment order is now free of charge
Low-cost electronic transfers
The guide standardizes fees for electronic money transfers within Saudi Arabia through bank accounts and electronic wallets:
🔹 SR0.5 for transfers up to SR2,500
🔹 SR1 for transfers above SR2,500 and up to SR20,000
Free and reduced-cost account documents
SAMA also removed or reduced fees for several customer documents:
🔘 First issuance of a debt confirmation or debt transfer certificate: Free
🔘 Account statements for periods under one year: Free
🔘 Account statements for periods over one year:
• SR15, if requested at a bank branch.
• Free if requested electronically
Implementation timeline
SAMA confirmed that the new fees framework will be implemented within 60 days, allowing financial institutions time to update their systems and customer disclosures. The full fees guide is available through SAMA’s Rulebook on its official website.
The new fee structure reflects SAMA’s ongoing efforts to protect consumers, improve efficiency in the financial sector, encourage digital banking, and strengthen confidence in Saudi Arabia’s financial system.
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| SAMA reduces Banking Services Fees of Transfers, Cards and Financing for Individuals |
