Sarie Service

“sarie” Instant Payment System

“sarie” instant payment system is now available to all meem customers via the meem app and internet banking

Owned by the Saudi Central Bank and developed by Saudi Payments, “sarie” enables customers to send small amounts of money instantly 24/7 and 365 days a year using alternative identifiers to IBAN’s including Mobile number, E-mail, National ID and Iqama numbers

Through sarie services, meem customers will be able to send and receive low-value local transactions twenty-four-hour-a-day, for a low fee not exceeding one Saudi Riyal

Key Features of “sarie”

The ability to transfer money 24 hours per day, 7 days per week, throughout the year

The ability to use alternative identifiers such as Mobile numbers, National ID / Residence Permits numbers or E-mail addresses

The ability to transfer without having to add or activate beneficiaries when performing Quick Transfers

Fees table (Excluding VAT):

sarie service

Transfer amount (SAR)

Fees (SAR)

Less than or equal to 500

0.50

More than 500 and less than 20,000

1.00

More than 20,000

5

FAQs

“sarie” instant payment system deals with transfers between local banks only. Its services do not include transfers between international banks.

There is no daily limit for transfers. However, you must not exceed a total of SAR 20,000 per transaction. Any operation exceeding the system transfer limit will be handled during official Saudi transfers working hours. As for the “Quick Transfers” feature, it is subject to a limit of SAR 2,500 per transaction.

There is no APP for “sarie” instant payment system. It is a platform provided to the banking and financial sectors to offer innovative services to their customers, who can benefit from “sarie” instant payment system via their banks electronic channels. To use “sarie” login to your meem app

You can make and receive transfers from your meem account to any account in a local bank with “sarie” using the recipient’s IBAN or a valid alternative identifier by doing the following:

  • Login to your account using your meem Mobile app or internet banking portal
  • Choose local transfers
  • Fill in the payment details. If you are using “sarie” Alternative Identifiers (Mobile number, National ID / Residence Permit number or E-mail address) you will not need to add the beneficiary to your beneficiaries list
  • Choose identifier and confirm the beneficiary’s details
    Execute transfer
  • You will receive an SMS confirming the success of the transaction

“sarie” instant payment system is designed to facilitate the transfer of small amounts of money between local banks and to expedite sending/receiving money transfers within 24 hours, 7 days per week, throughout the year. A transfer made with “sarie” instant payment system typically takes a few seconds to reach the recipient.

This is a new feature offered by “sarie” instant payment system, it allows you to make money transfers without adding or activating a beneficiary. To use this feature, you need to increase the “Quick Transfer” limit in your account to SAR 2,500 per transaction by logging into your account using your meem app or meem internet banking platform.

No, you don’t. You can transfer without adding or activating a beneficiary by choosing the “Quick Transfer” options for operations of up to SAR 2,500.

You can activate the “Quick Transfer” whenever you wish. This option allows you to make a transfer without adding or activating a beneficiary. This can be done by accessing the meem app or meem internet banking portal and increasing the Quick Transfer limit to SAR 2,500 per transaction for the first time. Later, you can control this limit by increasing or decreasing it through the same channels.

Yes, you can. You can deactivate this option whenever you wish by accessing meem app or meem internet banking platform and setting the limit of “Quick Transfers” to SAR 0. Note that this will result in having to add and activate a beneficiary before executing any transfer in the future.

Transfers in “sarie” instant payment system have NO daily limit. However, there is a total system limit.

  • Currently, this limit is SAR 20,000. In case a transfer exceeds this limit, the transfer will be handled by the “sarie” SYSTEM
  • Quick Transfer limit: you can set this limit according to your needs. However, it cannot exceed SAR 2,500 per transaction

Yes, you do. You will receive a notification by SMS. Should you wish, you may also receive a notification on your bank’s APP or by E-mail whenever you make any payment via “sarie” instant payment system, which also includes money transfers.

The status of your money transfer transaction in “sarie” instant payment system will be described as follows:

  • Approved – which means that the transfer was successfully sent to your beneficiary
  • Rejected – which means that the transfer failed. In this case, we will notify you of the reason

The amount will not be deducted from your account, and we will notify you of the rejection reason.

“sarie” instant payment system offers easy and fast features which improve and facilitate the user experience. It allows you to send/receive money transfers without having to use the IBAN. The alternative identifiers include:

  • Mobile numbers
  • National ID / Residence Permit numbers
  • E-mail addresses

Alternative identifiers in “sarie” instant payment system include Mobile numbers, National ID / Residence Permit numbers and E-mail address. These identifiers allow you to send/receive money transfers. You can also make any amendments required when you are logged into your meem app or meem internet banking portal. These amendments include:

  • Linking a new alternative identifier to a previously added IBAN
  • Deleting an existing alternative identifier linked to a previously added IBAN
  • Editing an existing alternative identifier linked to a previously added IBAN
    Being notified by SMS of any amendment you make

With “sarie” instant payment system, you can receive money transfers from your family and friends without having to provide your IBAN. This is done by:

  • Logging in to your meem app or meem internet banking portal
  • Accept to share your alternative identifiers with the system (if you haven’t done so before)
  • Access the alternative identifiers management page
  • Specify the new alternative identifier you wish to link to your IBAN
  • Fill the required forms
  • Press “Add”
  • You will be notified by SMS of the transaction’s success

Yes, you can. You may deactivate the alternative identifier(s) linked to your IBAN with “sarie” instant payment system whenever you wish. This is done by accessing your meem app or meem alternative banking portal. Note that you will be required to provide your IBAN to the sender every time they wish to transfer money to you.

  • Login to your meem account via the app or internet banking portal
  • Access the alternative identifiers management page
  • Specify which alternative identifier you wish to delete
  • Press delete
  • You will be notified by SMS of the deletion’s success

Yes, you can. Any sent/received money transfer can be objected to. For that, call meem Contact Centre on 8001166336 or by Live Chat on the app to register your objection or inquire about a specific transfer.

Yes, you can. For that, you need to call the Contact Centre on 8001166336 or by Live Chat on the app and inform us of your wish to recover the transfer amount and the reason you want to do so.

You can receive incoming transfers to your account using the alternative identifiers by:

  • Logging in to your account via the meem app or internet banking portal
  • Agree to share your information with the “sarie” instant payment system (in case you haven’t done so in the past)
  • Access the alternative identifiers management page
  • Specify which alternative identifier(s) you wish to add
  • Fill the required forms
  • Press “Add”
  • Agree to share your alternative identifiers with the system
  • You will be notified by SMS of the success of your request

No, you cannot. To benefit from this feature, you must activate the ability to receive instant transfers using alternative identifiers. This is done through the meem app or internet banking portal and approving to share your alternative identifiers.

Yes, this service is available on all banks’ electronic channels (banking APPs and Internet Banking in phase 1), and will be rolled out soon on all channels including ATM machines and phone banking.

You can cancel sharing your alternative identifiers with “sarie” instant payment system by:

  • Logging in to your account via the meem app or internet banking portal
  • Access your account settings page
  • Click cancel
  • You will be notified by SMS of the deletion operation success