How to open a bank account in Arab National Bank

• founded in 1979, one of the largest banks in Saudi Arabia;
• the bank opens savings (deposit) and current accounts;
• the bank opens accounts for local companies only, as well as personal accounts;
• opening a corporate account requires a personal visit of the beneficiary(s) to Saudi Arabia; a personal account can be opened online;
• a corporate account must be opened at the nearest branch to the company’s registered office;
• in general, there are no restrictions on payments to / from the RF, but much may depend on the amount / destination / source of origin of funds;
• main available currencies: SAR, USD, EUR;
• no minimum account balance requirement – it is necessary to deposit at least SAR 1* into the account within 90 days after opening;
• issuance of bank cards (both for personal and corporate accounts) and checkbooks is possible;
• fee for transfer to a foreign bank – from SAR 90* (~ USD 24);
• Internet bank in English;
• account opening time: about 1-2 weeks

*These are approximate tariffs / requirements, as they may ultimately differ depending on the service program chosen by the client