The Central Bank of Kuwait has directed banks to stop charging a fee for customers updating their information to activate suspended accounts via online banking. Previously, many banks charged a 5-dinar commission for this service, but the new directive mandates that updating customer data online is now a free service, provided the customer does so independently through the bank’s website. This change applies as long as the customer does not visit the bank branches or seek in-person assistance.
This decision aligns with the Central Bank’s ongoing efforts to encourage the use of digital banking platforms. It also addresses concerns that many customers had no need to update their information, making the commission unnecessary. The move reflects broader trends in the banking sector, with Kuwait’s banks expanding their digital channels and alternative platforms. The Central Bank continues to monitor and review the regulation of banking fees and fines to ensure they support efficient and accessible banking services for all customers.
