What is the penalty for not paying credit cards in Saudi Arabia and what are the payment methods? Credit cards are considered one of the services that many banks provide to customers with the aim of obtaining all services, including purchasing and paying later. In the event of non-payment, many penalties are imposed, which we will show later.
What is the penalty for not paying credit cards in Saudi Arabia?
Many banks provide the beneficiary with credit cards that enable the individual to obtain funds directly or through commercial benefit from anywhere in the world. The method and date of deducting the amount are determined on a monthly or periodic basis, and in the event of non-payment the following penalties are imposed:
Read also: How do I know my points in Jadarah and how can I get the platform link How can I inquire about health insurance using the residence number.. We show you the steps How can I extract an account statement from Al Rajhi Bank electronically How can I register on the Etemad platform link electronically, with steps A late fine is deducted automatically when the amount is available The amount of the fine depends on the type of card, its financial value, and the duration of the delay. After the 30-day grace period provided by the bank has passed, and there are some banks that offer a grace period of up to 90 days, the normal late fine is applied even in the presence of a grace period. Upon obtaining the updated data, the customer is notified in writing of the necessity of paying the amount so that the letter reaches the customer at his home or residence via the police. In the event that it is proven that the customer has become financially incapacitated and does not have the cash capacity to pay, his name will be added to the lists of insolvents and those unable to pay. When the final stage is reached, without a response from the customer, his account and card are immediately frozen, and the card is closed for the amount due along with late taxes. The matter develops by referring the defaulter to prison, and in the event that the card requirements are not met negligently, a court order is issued to stop services for him and prevent him from traveling outside the borders of the Kingdom. Defamation is legal in an official form from the bank’s management. Defamation occurs when its name is published among banks and financial institutions and a warning is given against dealing. Procrastination and non-payment loses opportunities to obtain privileges from your bank, and placing a question mark in front of your name indicates a warning against dealing with you again.
What are the payment methods for credit cards in Saudi Arabia?
There are many ways to pay credit card dues, the most important of which are the following:
1- Credit card through telephone banking service
Call the customer service number of the bank from which you own the card. Select number 1 to access your account and credit cards. Write your credit card number and phone number to verify your identity. You are asked to set a password for the telephone banking service, which must consist of 4 numbers. Select the number 2 to take advantage of card options. Select the number 2 again to pay the credit card amount due. Follow the instructions provided to enter the required amount and confirm the payment.
2- Pay the credit card through an ATM
Visit the nearest ATM of the bank from which you obtained the card. Select the Arabic language to continue. Click on the credit card settlement service. Deposit the amount due on the card. Select Confirm all information and the amount due will be deducted.
Many major financial institutions in the Kingdom of Saudi Arabia provide many distinctive services, including benefiting from purchasing via credit cards and paying at a later time. In the event of default in payment, a penalty is imposed on the individual.
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2023-10-30 22:40:00
