Business Banking Credit Card (NOMWO)
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NMOO Credit Cards
Business Banking Credit Card (NMOO)
Better cash flow management with more spending power and financial control over transactions.
Better cash flow management with more spending power and financial control over transactions.
overview
Overview
The Riyad Bank Business Banking Credit Card helps prevent fraud and misuse with SMS notifications for each transaction on primary and additional cards.
- No annual fee for the first year
- Shari’a compliant
- 3D Secure login for safe online shopping
- Automatic enrolment into Hassad Rewards Program
- All business and corporate customers are eligible
Credit limits on additional cards are absorbed from the primary card holder’s credit limit.
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How to Apply
How to Apply
New customers can apply through the nearest Riyad Bank Corporate Branch.
Visit any Riyad Bank branch with the following documents:
- Copy of valid Saudi national ID for Saudi nationals
- Copy of valid Iqama or Passport for non-Saudi nationals
- Copy of valid commercial registration
- Proof of business having been established for more than 18 months
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Rates & Fees
Rates & Fees
Primary Card Annual Fees
SAR 200
Monthly-term Cost
1.75%
Annual percentage rate
21%
Primary/ Additional Card Annual Fees
Free
Statement Date
Monthly
Minimum limit required to be paid monthly for the Primary Card
200 or 5%, whichever is higher
Cash Withdrawal fees
SAR 75 for each withdrawal less than SAR 5000 , and SAR 300 or 3%, whichever is less, for every withdrawal exceeding SAR 5,000
Late Payment Fees
SAR 100
Additional fees for non-Riyal Saudi transactions
2.75%
Dynamic Commission Fees
1.5%
Additional Card Annual Fees
Free
Card Reactivating Fees
No Fees- Traditional Card
Replacement Card Fees
50 ريال
Credit Shield (optional)
0.49%
Dispute Process
SAR 50
Administrative Fees
-
Settlement Date
Due Date the 20th of each month
Example
Example
* Dynamic Transfer Commission (1.5%) only applies if the customer has chosen to pay in Saudi Riyals outside the Kingdom of Saudi Arabia.
** The transfer commission from US Dollar to Saudi Riyal is applied by the merchant (Visa / MasterCard)
** The transfer commission from US Dollar to Saudi Riyal is applied by the merchant (Visa / MasterCard)
International Purchase Amount
Transaction Currency
SAR exchange rate
Amount in SAR
Merchant Transfer Commission
Dynamic Transfer Commission
Transaction Total Amount
100 US Dollars
SAR
3.77
377 SAR
3%
1.5%
394.13 SAR
Example 1
Example 1
Total purchases before issuing the account statement is 100,000 riyals, and the minimum payment (5% or 200 riyals, whichever is higher) was paid:
Total outstanding due in the statement*
SAR 100,000
Amount paid on due date
SAR 5,000
The carried over balance (A)
SAR 95,000
FC calculation (% 1.75 from the carried over amount)
SAR 1,662.5
Total outstanding due in the next month’s statement (A)+(B)
SAR 96,662.5
Example 2
Example 2
Total purchases before issuing the account statement is 100,000 riyals, and the minimum payment (5% or 200 riyals, whichever is higher) was paid:
Total outstanding due in the statement*
SAR 0,00
Amount paid on due date
SAR 0,00
The carried over balance (A)
SAR 0,00
FC calculation (% 1.75 from the carried over amount)
SAR 0,00
Total outstanding due in the next month’s statement (A)+(B)
SAR 0,00
Example 3
Example 3
Total purchases before issuing the account statement is 100,000 riyals, and the minimum payment (5% or 200 riyals, whichever is higher) was paid:
Total outstanding due in the statement*
SAR 50,000
Amount paid on due date
SAR 2,500
The carried over balance (A)
SAR 47,500
FC calculation (% 1.75 from the carried over amount)
SAR 831.25
Total outstanding due in the next month’s statement (A)+(B)
SAR 48,331.25
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Business Banking Credit Card (NOMWO)
Business Banking Credit Card (NOMWO)
Keeping your business up-to-date with today’s modern technology and efficiency.
We know you do not spare any effort to please your customer, especially when it comes to payment terms, Riyad Bank innovated the most advanced Point-of-Sale terminals that will facilitate your staffs’ daily work to better serve your customer.
We know you do not spare any effort to please your customer, especially when it comes to payment terms, Riyad Bank innovated the most advanced Point-of-Sale terminals that will facilitate your staffs’ daily work to better serve your customer.
Please complete the form below
Thank you for applying. Your Reference Number is
A representative from Riyad Bank will contact you to complete your request.
Keeping in mind that a current account is required to obtain any product or service from Riyad bank, if you do not have one yet, you can open an account from
here
Need help?
Riyad Line:
800 124 2225
