Saudi Arabia Guide: Money

Our money guide provides information on bank accounts, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.

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  Currency

  The Saudi Riyal and international transfers

  The Saudi riyal (SR) is linked to the US$ and is therefore susceptible to the ups and downs of that currency.

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  Banks

  Where to manage your finances

  There’s no shortage of banks in the cities, towns and villages of the Saudi Arabia.

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  Opening an account

  How to open a bank account in Saudi Arabia

  The formalities involved in opening a bank account in Saudi Arabia are quite stringent and involve a considerable amount of paperwork.

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  Debit and Credit Cards

  How to use cards in Saudi Arabia

  All banks in Saudi Arabia offer customers cash and debit cards, which can be used at any branch of the same bank and, by arrangement, at other banks.

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  Cash & travellers' cheques

  How to use them

  Cash is widely used in Saudi Arabia, although credit and charge cards are also popular. As in many countries, the quickest way to draw cash is to use an automated teller machine (ATM), found at banks and shopping malls.

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  Foreign & Offshore Banking

  Where to keep your money abroad

  In many cases, foreign workers in Saudi Arabia find that they’re able, for the first time, to save part of their income for the future.

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  Cost of living

  How much does living in Saudi Arabia cost?

  The overall cost of living in Saudi Arabia is similar to most European countries as an expat. There are some significant differences since the general lack of tax makes a big difference on the cost of certain items such as cars. The cost of accommodation tends to be more expensive than in Europe.

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