Expat Finance Services in Saudi Arabia
The currency used in Saudi Arabia since 1925 has been the Saudi riyal. Bank notes come in denominations of 1, 5, 10, 50, 100 and 500 riyals.
There are legally no restrictions against transferring funds into or out of Saud Arabia. There are several branches of banks in the nation, which includes foreign and Saudi banks alike. Airports banks are open 24 hours a day and have a speciality in changing currency. There are in addition Islamic banks that are only for Muslims and cannot charge any interest at all. Anyone who lives in Saudi Arabia is allowed to start a bank account, however, there is much paperwork required, including a document from an employer confirming one's pay which will be paid directly into the account, and also confirmation of legal residency status in Saudi Arabia.
Many businesses in Saudi Arabia would rather trade in cash as opposed to checks. Writing a check that bounces in Saudi Arabia is a grave crime. In Saudi Arabia there are also ATM machines from which riyals can be withdrawn by means of a bank card. With many ATM machines, the cash must be literally withdrawn quickly, or the machine will swallow the cash back into itself.
See our guides
Currency Exchange in Saudi Arabia
Need to transfer money or make a significant purchase abroad? Compare foreign exchange specialists and get the best exchange rate on the market.
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Current Account in Saudi Arabia
Current accounts specifically created to address your needs as an expatriate. Multi currency, bill payments… find the solutions to your everyday banking needs.
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Offshore Savings in Saudi Arabia
Compare offshore savings accounts and find the right solution that meets your saving requirements while living abroad.
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Expat Mortgages in Saudi Arabia
Free and no obligation quotes to help you find the best overseas mortgage. Compare overseas mortgage advisors and make a free enquiry
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Financial Advice in Saudi Arabia
Get information on investment portfolio building to achieve your investment objectives according to your risk profile.
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Expat Savings in Saudi Arabia
Make an initial no-obligation enquiry about saving plans, school fees planning, retirement planning. Save money, plan ahead and discover all the attractive options available to you as an expat.
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QROPS in Saudi Arabia
Learn more about Qualifying Recognised Overseas Pension Schemes. Make an initial no-obligation enquiry to get expert advice on transferring your pension overseas
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Online Broker in Saudi Arabia
Compare online brokers for forex trading, cfd trading, internet share trading and more..
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US Expat Tax in Saudi Arabia
American expatriates have the legal obligation to file US tax returns yearly on their income wherever sourced. Get free advice and US tax returns filling quote
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Tax Advisory in Saudi Arabia
Make an initial no-obligation enquiry on tax planning, tax return or tax issues that you may face as an expatriate.
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