New dominion inwards UAE for ATM, credit menu transactions
Customers inwards the UAE accept to update their banking concern records past times submitting their Emirates ID past times Feb 28, 2019 inwards lodge to avoid interruption of their debit together with credit cards.
In a circular issued before this month, the Central Bank of the UAE urged banks together with finance companies to practise awareness through media campaigns that a failure inwards doing together with thence would number in non beingness able to role ATM cards to take away funds or deport require debit transactions also every bit stopping credit menu transactions afterwards Feb 28.
Marwan Lutfi, Chief Executive of Al Etihad Credit Bureau, said that if the customers neglect to run across the Feb 28 deadline, banks would suspend their debit together with credit cards. "It is the duty of the private to ensure that the data is upwards to date," he said.
"Over the past times few years, in that place has been a constant endeavor past times all the banks inwards the community but right away a fourth dimension boundary has been set," Mr Lutfi said. "If customers neglect to run across the Feb 28 deadline, banks volition suspend debit together with credit cards. After 3 months their cards would piece of occupation past times suspended completely."
However, the temporary interruption of ATM cards volition non forestall customers from withdrawing cash from an line of piece of occupation concern human relationship straight at a bank's branch counter.
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Courtesy together with Source :KT