Accounts Updates

We aim to keep our customers well informed and updated on the latest financial and banking procedures to help them in avoiding risks and protecting their financial transactions.

We will continue to provide the latest information on day to day banking services, including managing accounts, deposits, trade finance, cash management, credit facilities, digital solutions and more.

1. Corporate account opening forms updates

As we value your trust and are keen on maintaining it, we would like to inform you that the terms and conditions of our Account Opening Form have been updated, and below you can find the detailed clauses where the changes have occurred.

2. SAMA Dormancy Rule

According to Saudi Arabian Monetary Authority accounts rules and regulations, please note the following updates:

  • Account is considered to be Active if last Credit/Debit transaction induced by the customer himself or the authorised signatory is less than 24 months.
  • Account is considered to be Dormant when the last Credit/Debit transaction induced by the customer himself or the authorised signatory is more than 24 months.
  • Account is considered to be Unclaimed when last Credit Debit transaction induced by the customer himself or the authorised signatory is more than 60 months.
  • Account is considered to be abandoned when the last transaction induced by the customer himself or the authorised signatory is more 180 months.
  • Other accounts will be treated in accordance to the SAMA rule in Circular No. 371000120064 dated 1437/11/20 and subsequent / related circulars.

3. National Address

Your address is your identity, we encourage our SABB customers to register their address (the National Address) with the Saudi Post to benefit from SABB and government services at your location. You can register by any of these options:

  • Calling the unified number 9200 05700,
  • Completing the on-line form at www.address.gov.sa,
  • Visiting the post office to request the service.

Further to the resolution of the Council of Ministers Np. 252 dated 24.04.1434 regarding the arrangements for activation of Residence and Work addresses as provided for in the Civil Status, Commercial Registration and Residency Rules. Article 1 of the above-mentioned resolution stated that (The public place of residence will be considered as an address for natural or corporate person, sole proprietorship, public departments and others unless a private residence address is selected for receiving notifications and advices, etc. The public or private place of residence address – as applicable – assigned by the Saudi Post will be the official address in respect of all regulatory implications). Whereas Article 5 of the same resolution required banks to take the necessary arrangements to oblige the beneficiaries of their services to provide and update their address information as required, and to link the provision of their services to such beneficiaries to fulfillment of this request.

In our endeavors to continue to provide our services to you up to your aspirations, we urge you to register your addresses (national address) with Saudi Post through the following link: (www.sp.gov.sa)

When applying for any of our services, please provide your Relationship Manager with your national address as registered with Saudi Post. For your information, communications with you will continue as per your records with the Bank.

You can select the appropriate method for receiving your statements and notifications from the Bank either to your P. O. Box or Wassel, but the national address remains a basic requirement for the continuation of our services to you as stated hereinabove.

4. SABB Prime Rate/Base Rate

SABB Saudi Riyal Prime Rate/Base Rate has been revised to 5% effective 01 May 2018




For more information kindly contact your Relationship Manager, call our call centre on 800 1245666 from within KSA or on +966 11 4062805 from outside KSA or visit sabb.com We are also happy to receive your feedback on: feedback@sabb.com.