Saudi Arabia announces new credit card rules
The regulations will take effect within 30 to 90 days…
The Saudi Central Bank (SAMA) has just announced new Saudi credit card rules when it comes to the issuance, operations, and fees. This is how it could possibly affect you.
Aimed at lowering costs for customers, the new regulations start with a requirement for credit card issuers to notify customers of any change in fees via SMS, with customers allowed to terminate their agreement within 14 days of receiving the notice.
Learn about the most prominent updates related to the fees of Issuance and Operation of Credit Cards, which will take effect 30 days from the publication date of the Updated Rules.#SAMA pic.twitter.com/hAac3ERXeb
— SAMA | البنك المركزي السعودي (@SAMA_GOV) June 20, 2025
That’s not all, though. E-wallet top-ups via credit cards are now free of charge; fees are capped at three per cent of the transaction amount for withdrawals below SR2,500, and for withdrawals of SR2,500 or more, fees are limited to a maximum of SR75.
International purchases will now carry a two per cent fee of the transaction value. According to Saudi Gazette, customers are also permitted to deposit additional amounts above their credit limit and withdraw them at any time without incurring charges.
Issuers are now also required to notify customers immediately of any financial transactions and to send account statements via SMS. They are also required to provide tools for customers to estimate rewards and international charges before making a purchase.
When it comes to repayment, customers may pay off their full outstanding balance without incurring late fees, with a mandatory grace period of at least 25 days.
The regulations also unify disclosure templates for all fees, charges, and benefits within credit card agreements, promoting greater clarity for consumers.
Previously, for transactions up to SAR5,000, a fee of SAR75 was applied, and three per cent of the transaction amount was required for amounts over SAR5,000, with a maximum fee of SAR300.
The Saudi Central Bank, previously known as the Saudi Arabian Monetary Authority, was established in 1952, is the central bank of the Kingdom of Saudi Arabia.
Visit: sama.gov.sa