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The “SARIE” system for instant payments has revealed a list of banks supporting the system, whose beneficiaries can receive and send funds to various banks immediately, 24 hours a day, seven days a week.
The list included banks: (Al-Jazeera, SABB, Al-Bilad, Al-Ahly, Al-Arabi, Al-Saudi Al-Fransi, Riyad, Al-Rajhi, Al-Saudi Investment and Al-Inma Bank).
The immediate payment system indicated that Samba and Gulf International Banks would support their services soon.
The central bank had Recently launched ‘fast’ instant payment systemThis enables banking industry customers to send and receive low value, local remittances around the clock at low fees not exceeding one riyal, in addition to other services and features provided by the system to beneficiaries.
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