UAE residents are reminded to update their records and submit their Emirates ID to their respective banks to avoid getting their debit and credit cards suspended.
In a circular released by the UAE Central Bank, customers who would not be able to update their bank records by February 28, 2019 would not be able to use their debit and credit cards, reported The National.
The suspension covers ATM transactions and other direct debit and credit transactions, among others.
The circular, however, states that the suspension is only temporary and will be revoked once the customer updates his/her bank records. Customers with suspended debit or credit cards are also allowed to make over-the-counter transactions in banks.
After three months of failing to comply following the deadline, the card will be completely suspended.
Banks are also advised to raise awareness about the circular and ensure that their customers are properly informed regarding the need to update their bank records and the consequences of failing to do so.
“It is not the bank’s but the individual’s duty to make sure the information is up to date. Over the past few years, there has been a constant effort by all the banks in the community [to update customer records] but now a time limit has been set,” said Marwan Lutfi, the chief executive of Al Etihad Credit Bureau.
