Saudi Local Bank Transfer – Fees and Procedure
Here’s how to transfer between Saudi local banks online. Transfers between the same bank accounts are very simple and free of charge. You only need an account number. But when you transfer between two different banks in Saudi Arabia, you will have to follow the steps below.
First, in order to transfer between banks, you should have the following details of the beneficiary account:
- Beneficiary Account Name
- Beneficiary Account Number
- Beneficiary Bank
- Beneficiary IBAN Number
If you don’t know the IBAN number Click here to check the IBAN number.
Adding Beneficiary Account
You can add a beneficiary account online. Activation is required after adding the beneficiary account. Activation can be done by OTP received on registered mobile or Calling to IVR or by ATM.
Once successfully added, you can transfer money from the mobile app, online banking or from the ATM.
Saudi Local Bank Transfer Timing
Transfers between the two banks are only possible during working hours. You can transfer from Sunday to Thursday 10 AM to 3 PM. Transfers after working hours will be credited on the next working day.
Saudi Local Bank Transfer Fees:
Online / ATM: Same day transfer charge is 7.35 SR and the next day transfer charge is 5.25 SR
From Branches: 26.25 SR