Search
العربية
Security Center
ATM & Branches
SAB Procurement Card Overview:
We at SAB understand our customer’s business needs and continuously strive to offer solutions to improve their cash flow to streamline the purchasing process.
Why SAB Procurement Card?
All businesses are unique and have their own requirements. Therefore, SAB Procurement Card is a flexible payment tool which can be customized to address these needs by the customer himself. The Card gives a smart and efficient option to the customer to manage day to day payments.
The SAB Procurement Card is a Prepaid co-badged mada Visa product which allows the customers to use the cards for:
- Purchases (PoS & E-commerce)*
- Cash withdrawal via ATM*
- Deposit cash to the company account via SAB Cash Deposit Machine
Key Features & Benefits:
Yes, the product is built with the flexibility to control spending by channel (Automated Teller Machine (ATM) cash withdrawal / cash deposit via Cash Deposit Machine (CDM) / Point of Sales / E-commerce) at cardholder level.
Example:
Cardholder 1 – Enabled for E-com transactions
Cardholder 2 – E-com transactions are disabled
The card is printed with both the cardholder authorized to use the card and the company name.
Yes, the authorized person can change the overall limit on a company level as far as it does not breach the regulatory requirements. Also, the system is flexible to change the limit on card level as well.
Yes, the option to configure daily limit is available.
No, the card will only be delivered to authorized representative as nominated by the Company.
By default, the setup allows 20 cards to be issued. However, based on customers request the setup can be changed to issue more cards.
Only the Corporate can change the limit, the cardholder will not be able to change the limit. The same will be done via the Corporate Portal.
As per SAMA guidelines daily allowed cash withdrawal limit is SAR 5,000.
The default limit will be set as SAR 20,000 per day which can be increased to a maximum of SAR 200,000 per day for PoS & SAR 60,000 per day for E-com.
The daily cash deposit limit is SAR 100,000 with a maximum per transaction limit of SAR 30,000.
Currently all fees are waived except card replacement and dispute transaction fee.
Card Replacement Fee – SAR 50 + VAT
Dispute Transaction Fee – SAR 50 + VAT
No, only the company is authorized to request for a replacement card which can be done via the Corporate Portal.
