UAE banks suspend credit, debit cards as customers don't update Emirates ID

UAE banks suspend credit, debit cards as customers dont update Emirates ID

Dubai - Customers are urged to immediately update their details with the banks.



By Waheed Abbas

Published: Thu 21 Mar 2019, 6:18 PM

Last updated: Thu 21 Mar 2019, 11:50 PM

Banks in UAE have started suspending credit and debit cards of some customers who haven't updated their Emirates ID details as per the instructions of the UAE Central Bank. Leading UAE banks such as ADCB, RAK Bank, Emirates NBD and CBI, among others, had advised customers to update their IDs to avoid suspension of banking services.

A circular issued by the banking regulator in November 2018 had instructed banks and microfinance companies to create awareness through media that debit card withdrawals from ATMs as well as direct debit transactions, along with credit card transactions will be stopped if Emirates IDs of customers are not updated by February 28, 2019.

Suvo Sarkar, senior executive vice-president and head of retail banking and wealth management, Emirates NBD, said certain customers who were travelling or those whose IDs were under process had failed to update their details with the bank.

He urged all the customers to update their details as soon as possible, because the suspension will remain in force until the customers update their details.

"As per Central Bank guidelines, customers who did not update their details within the given timeframe faced suspension of their debit or credit card, following which the card cannot be used for any transaction, such as ATM cash withdrawals, retail purchases or e-commerce transactions. As per the Central Bank regulation, the suspension remains in force until the customer updates their details with us," Sarkar said.

A statement on CBI's website says: "It is important that once CBI has requested this information from you, it is submitted back to the bank by February 28th, 2019 latest to avoid interruption to your banking services. If the bank has not been able to verify your Emirates ID details within this time, restrictions will be placed on any debit / credit cards provided and Internet/mobile banking services until this information is provided."

waheedabbas@khaleejtimes.com
 


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