Stop opening “Saudi banks” online accounts, and the maximum daily transfer limit is 60,000 riyals

Al-Marsad newspaper: The Saudi Central Bank (SAMA) directed Saudi banks to stop opening accounts for customers online until further notice, in order to reduce financial fraud.

Sama directives to banks included that “the daily transfer limit for electronic services is 60,000 riyals, and fast system transfers remain reserved for two hours, while international transfers remain suspended for 24 hours.”

The instructions included that “non-Saudi customers will not be able to add beneficiaries through electronic services, and beneficiaries can be added through the branch only.”