10 Best Money Transfer Services in Saudi Arabia
If you’re living in Saudi Arabia and need to send money – whether it’s back home to family or just locally – you’re in the right place. With millions of expats calling the Kingdom home, money transfer services are a vital part of daily life here. Let’s look at the 10 best options that offer the right mix of reliability, speed, and value for your needs.
1. STC Pay
STC Pay is one of the leading digital wallet services in Saudi Arabia. As a subsidiary of Saudi Telecom Company (STC), STC Pay offers a seamless way to send and receive money both locally and internationally. With features like real-time money transfers, bill payments, and international remittances, it has become a preferred option for many.
Key Features:
- Real-time transfers to local bank accounts
- Integration with Western Union for international transfers
- Support for utility and service bill payments
- User-friendly mobile app with biometric login and QR payment options
2. Tahweel Al Rajhi
Tahweel Al Rajhi is the remittance arm of Al Rajhi Bank, one of the largest banks in the Middle East. It offers safe and reliable remittance services with competitive rates. Tahweel Al Rajhi’s extensive network of branches and partnerships with global financial institutions make it a convenient choice.
Key Features:
- Cash pickups at multiple destinations worldwide
- Ability to transfer funds to other banks within Saudi Arabia
- Partnerships with global money transfer services
- SMS notifications on transaction status
3. SNB Quickpay
SNB Quickpay, a service from the Saudi National Bank (SNB), is designed for fast and convenient international money transfers. It allows you to send funds to over 200 countries with attractive exchange rates and nominal fees.
Key Features:
- 24/7 customer support for quick assistance
- Online and mobile banking options for transfers
- Competitive exchange rates and low transfer fees
- Ability to schedule and track transfers in real-time
4. Mobily Pay
Mobily Pay is a digital payment and money transfer platform backed by one of Saudi Arabia’s leading telecom providers, Mobily. The service is gaining popularity due to its convenience, particularly for users within the Mobily network.
Key Features:
- Seamless integration with Mobily accounts
- Prepaid card issuance and mobile wallet services
- International money transfer options with secure transactions
- Ability to top-up, pay bills, and manage your account from the app
5. Urpay
Urpay is a fast-growing mobile wallet in Saudi Arabia, offering comprehensive digital payment solutions. Known for its sleek app design and broad service range, it’s a favorite among those seeking flexible payment and transfer options.
Key Features:
- Multiple payment services like online shopping, utility payments, and international transfers
- Integration with Western Union for global transfers
- Highly secure platform with PIN and biometric authentication
- Rewards and cashback programs for regular users
6. Fawri
Fawri is the digital remittance service offered by Bank AlJazira, allowing users to send money both locally and internationally. The service is especially popular among expatriates in Saudi Arabia due to its competitive exchange rates and broad reach.
Key Features:
- Cash and bank account transfers to various countries
- Real-time currency exchange rate updates
- Multilingual customer support for diverse expatriate communities
- Integration with major international money transfer services
7. Enjaz
Enjaz is the money transfer service of Bank Albilad and is renowned for its extensive network and excellent customer service. It offers a range of local and international transfer solutions, catering to customers with various needs.
Key Features:
- Extensive coverage with multiple Enjaz centers across Saudi Arabia
- Easy-to-use app for quick and secure transfers
- Options for direct bank transfers, cash pickups, and mobile wallet top-ups
- Real-time tracking and notifications for all transactions
8. ANB Telemoney
ANB Telemoney by Arab National Bank is a popular remittance service that offers competitive rates and a simple transfer process. It caters to a broad audience looking for a secure and straightforward remittance solution.
Key Features:
- Fast and reliable money transfers to over 200 countries
- Wide network of correspondent banks and agents
- Multilingual support to cater to the diverse expatriate community
- Dedicated app for easy transfers and transaction history tracking
9. Alinma Pay
Alinma Pay is a digital wallet provided by Alinma Bank. It combines ease of use with a host of features that go beyond money transfers. With its sleek app design and integrated financial services, Alinma Pay is a great choice for individuals looking for an all-in-one financial solution.
Key Features:
- Instant local and international money transfers
- Seamless integration with Alinma Bank accounts
- Ability to manage payments, top-up services, and pay bills
- QR-based payments and promotions for app users
10. Ersal Money Transfer
Ersal Money Transfer is a specialized service focusing on cross-border remittances. It is widely regarded as one of the most reliable platforms for international money transfers, with a large network of partners and outlets.
Key Features:
- Extensive reach with global partnerships and agents
- Direct cash pickups at partner outlets abroad
- Secure transactions with options to track transfer status
- Multi-currency support and competitive exchange rates
There you have it – 10 of the best options for sending money in Saudi Arabia, each with its own strengths. Whether you prefer the convenience of digital wallets or the familiarity of traditional services, there’s something here for everyone. Pick the one that best matches your needs, and you’ll be transferring money safely and easily in no time – often with just a few taps on your phone.
