The Saudi Central Bank (SAMA) has restored the maximum daily remittance limit for bank account holders.
In the last few days, the number of frauds and the transfer of money from one bank account to another on a daily basis has been drastically reduced due to negligence on the part of some account holders.
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According to the state-run news agency SPA, Sama had issued security measures on April 7, 2022 to protect account holders from fraud. They were also informed to the local banks. In this regard, remittances were drastically reduced.
Sama said account holders can still transfer as much money as they could on a daily basis before April 7. The extreme reduction has been eliminated.
Sama has also restored the facility for account holders to open online accounts. Implemented on April 12, 2022.
Sama again instructed the account holders of all the banks to beware of fraudsters. Under no circumstances give out bank or personal information to anyone by telephone. Don't tell anyone your secret code numbers. Fraudsters use a variety of tactics to obtain private and bank information.
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