Instant transfers between banks will be free for SAR 100 until a certain limit

SAMA orders banks to lend businesses money to avoid any job cuts

Instant transfers between banks will be free for SAR 100 until a certain limit. Sources revealed that the immediate transfer between banks, which was approved by the Central Bank of Saudi Arabia and will take effect tomorrow (Sunday), will be free of charge to customers as a trial phase until the end of next May.

Instant transfers between banks will be free for SAR 100 until a certain limit

It was indicated, according to “Okaz” newspaper, that a minimum transfer fee of half a riyal has been approved for operations equal to or less than 500 riyals, and one riyal for operations exceeding 500 riyals.

And emphasized that the fees included in the tariff for the services of the Saudi system for quick financial transfers that exceed the maximum limit for a single transaction will be maintained.

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