Local Bank Remittance: Who Qualifies and What You Get
Learn how to use local bank remittance services in Saudi Arabia to securely send money to your family abroad.
Local Bank Remittance is a service that allows you to move money from your bank account to recipients in other countries.
Who it's for
This service is available to anyone who holds a bank account within the country. If you have an active account with a local financial institution, you are eligible to use these services to send funds to family or friends living overseas.
What you get
You get a secure way to perform international money transfers. This service is designed to provide a reliable method for moving your money across borders, ensuring that your funds reach their destination safely through established banking channels.
What it costs you
Using this service is not free. You will be responsible for paying the standard fees charged by your bank to process the transfer. These costs are set by your specific bank, so you should check with them regarding the exact amount you will be charged for each transaction.
The catch to know
While these services offer high levels of security, it is important to be aware that banks are often more expensive than digital wallets. You may find that the transaction fees or exchange rates offered by a bank are higher than the rates provided by mobile-based digital money apps.
How to apply
- Log in to your online banking app or visit your local bank branch in person.
- Locate the section of your account dedicated to international money transfers.
- Enter all the necessary recipient details and the total amount you wish to send in SAR.
- Carefully review the total costs and the destination details before confirming the transaction.