If you are living in Saudi Arabia, it is essential to have a bank account. Saudi banks are regulated by the Central Bank of Saudi Arabia (SAMA) and most of them have branches throughout the country. Some of the popular national banks in Saudi Arabia are Al Rajhi Bank, SNB AlAhli, Riyadh Bank, SABB Bank, and Alinma Bank. Besides national banks, some international banks also operate in Saudi Arabia, such as Credit Suisse Bank, Deutsche Bank, Emirates NBD, BNP Paribas, and First Abu Dhabi Bank.
Benefits of opening a bank account in Saudi Arabia
There are many benefits of opening a bank account in Saudi Arabia. First, you can easily send money abroad with an electronic transfer. Second, transactions with the mobile app are quick and simple. Finally, you can open multiple accounts with one bank.
Also Read: List of Foreign Banks in KSA
What documents are needed to open a bank account in Saudi Arabia?
In order to open a bank account in Saudi Arabia, you will need a valid residency permit, a valid Saudi mobile number registered under your ID, Absher registration, Nafath registration, and national address registration.
Opening a Bank Account in Saudi Arabia
In Saudi Arabia, customers can now open a bank account from the comfort of their own homes. Previously, an initial physical visit to a branch was necessary, but this has been replaced by an online application form.
To read detailed instructions on how to open a new account with each bank online, click on the following links:
- How to Open an Al Rajhi Bank Account Online
- Opening a SNB AlAhli Bank Account Online
- Easy Steps to Open a Riyad Bank Account Online
- Opening a new Bank AlBilad Account Online
- How to Open a New Alinma Bank Account Online
- Simple Steps to Open a SABB Bank Account Online
To start the online bank account opening process, all you need to do is visit the bank website and fill-up the online form and verify your identity using Nafath account. Once your account is opened, you can get your ATM card either through Self Service Kiosks or by post.