Banking & Finance
Getting your finances set up in Saudi Arabia is easier than you think — if you know which banks welcome expats and what documents to bring.
Banking Overview in Saudi Arabia
| Feature | Details |
|---|---|
| Currency | Saudi riyal (SAR) ر.س |
| Bank Account for Foreigners | May be possible — confirm with the bank |
| Access Difficulty | Medium |
| Remote Opening | No |
| Wise Available | No |
| N26 Available | No |
Opening a Bank Account in Saudi Arabia
Foreign nationals may be able to open a bank account in Saudi Arabia, but we have not independently verified this — confirm the current rules directly with the bank, in writing, before you rely on it. The process difficulty is rated as medium, which means you should expect some bureaucracy and possibly language barriers.
Required Documents
- Valid passport or national ID
- Proof of address / residence registration
- Residence permit (if applicable)
- Tax identification number (if available)
- Initial deposit (amount varies by bank)
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Banks in Saudi Arabia — remote & non-resident opening
Named banks operating in Saudi Arabia, and what our automated research found about non-resident remote account opening (no branch visit required). This has not been verified by a human reviewer — use it as a starting point and confirm directly with the bank.
| Bank | Remote opening | Confidence | Details |
|---|---|---|---|
| Al Rajhi Bank | May require an in-person visit — confirm with the bank directly | High | Digital opening needs Iqama plus Absher and Nafath national ID; no remote non-resident path. |
| Banque Saudi Fransi (BSF) | May require an in-person visit — confirm with the bank directly | High | Requires Iqama or national ID with Absher and Nafath verification; residents only. |
| Riyad Bank | May require an in-person visit — confirm with the bank directly | High | Online opening requires valid Iqama, Absher account and Nafath; non-residents not eligible. |
| Saudi Awwal Bank (SAB) | May require an in-person visit — confirm with the bank directly | High | E-account requires National ID or Iqama and Nafath biometric via Absher; residents only. |
| Saudi National Bank (SNB) | May require an in-person visit — confirm with the bank directly | High | Requires Iqama and Nafath; non-resident foreigners need Ministry of Interior approval via SAMA. |
Last checked 2026-06-22 · Source: official bank websites, gathered via automated research that has not been reviewed by our founder — treat every row as a lead, not a verified fact, and confirm directly with the bank before you rely on it. Research confidence: High = clear supporting evidence found · Medium = partial or indirect evidence · Low = weak or conflicting evidence · Unrated = no confidence assessment recorded (unreviewed automated research).
Digital Banking Options
Wise (TransferWise)
Wise has limited availability in Saudi Arabia. While you may be able to send money to Saudi Arabia, full local account features may not be available. Check their website for the latest on Saudi Arabia-specific services.
N26
We have no record of N26 operating in Saudi Arabia — check N26's own country list, as their coverage changes. You may need to consider local digital bank alternatives or traditional banks.
International Transfers
When transferring money to or from Saudi Arabia, consider these factors:
- Exchange rate: The currency is SAR. Always compare the offered rate with the mid-market rate.
- Transfer fees: Transfer fees vary — compare providers like Wise for the best rates.
- Transfer speed: Bank-to-bank (SWIFT) transfers take 2-5 business days. Digital services often complete within 1-2 days.
- Regular transfers: If sending money home regularly, set up a recurring transfer to lock in better rates.
Salary and Everyday Banking
The average salary in Saudi Arabia is approximately €2,185 per month. Your employer will typically require a local bank account for salary deposits. Most banks offer:
- Debit card (Visa or Mastercard)
- Online banking portal and mobile app
- Direct debit setup for rent and utilities
- ATM withdrawals (check fee policies)
Tips for Expats
- Keep your home bank account: Maintain an account in your home country for at least the first year, in case you need to transfer funds back.
- Set up online banking immediately: Most routine transactions can be handled online or via app, saving you queues and branch visits.
- Open your account early: Visit a bank branch within your first week. Having a local account speeds up everything from rent to mobile contracts.
- Carry cash for the first week: Card acceptance varies. Have enough local currency to cover taxis, meals, and small purchases until your account is active.
- Ask about expat-friendly packages: Some banks offer special accounts for foreign residents with English-language support and lower fees.
Additional Practical Information
The following information is compiled from expat community sources and recent reports to complement the official data above.
Key Institutions and Services
Based on current expat reports, the following organisations and services are relevant for newcomers to Saudi Arabia:
- Saudi National Bank
- Al Rajhi Bank
- Standard Chartered Bank
- To open an online bank account in Saudi Arabia , the applicant must have either Absher registration (to use the website from abroad, you might need to use a VPN) or registration via the chosen bank's web page or application. Some banks still require your presence to verify the data and signatures, while others could provide you with a debit card whenever you order it.
Additional data sourced from expat community reports. All information should be verified with official sources.
Frequently Asked Questions
Does Wise (TransferWise) work in Saudi Arabia?
Wise has limited functionality in Saudi Arabia. You may need to rely on traditional banks for transfers.
Can I open a bank account in Saudi Arabia as a foreigner?
Yes, foreigners can open bank accounts in Saudi Arabia. The difficulty level is rated as medium. You will typically need your passport, proof of address (registration), and sometimes a residence permit.
Do I need a residence permit to open a bank account in Saudi Arabia?
Many banks in Saudi Arabia require a residence permit or proof of address before opening an account. Requirements vary between banks, so shop around.
What are the best banks for expats in Saudi Arabia?
For expats in Saudi Arabia, options depend on your needs. We recommend comparing traditional banks with digital alternatives based on your transaction patterns and whether you need international transfers.
How do international money transfers work from Saudi Arabia?
You can transfer money from Saudi Arabia via SWIFT bank transfers (2-5 days, higher fees) or digital services . Compare rates between your bank and specialist transfer services to save on fees.
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About the author
António Mira is the founder of whereTOemigrate. For over a decade he has worked at the intersection of Portuguese real estate and overseas business, helping international clients navigate the cross-border decisions that come with relocating. He sits on the board of CCIAP (Portuguese-Arab Chamber of Commerce), the Portuguese-Saudi Business Council, and the Portugal-Hong Kong Business Association — always with one focus: enabling overseas business and human mobility into and out of Portugal.
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