KuwaitOther News

KD 1 for updating bank information

KUWAIT: Starting from July, clients who fail to visit their banks to update their contact information will face a KD 1 charge for updating their information. An official from the Central Bank of Kuwait said this fee will be taken from clients who fail to respond to their bank’s reminders to provide updated contact information by visiting a local branch.

“This KD 1 fee is charged for doing the work on behalf of the client. The bank will demand the information from the Public Authority for Civil Information. The bank will start sending the client reminder messages to update their information a month prior to expiry,” said a staff member of the Central Bank. The Central Bank was not able to provide information on the grace period a client will be given before the charge is levied.

Not updating the information may result in blocking the bank account of the client, in addition to other inconveniences. Various banks are easing the process of updating the information through simple steps. At most banks, this can now be done through the ATM without assistance of the bank’s staff and outside working hours.

By Nawara Fattahova

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