How to open a bank account in Banque Saudi Fransi

• was founded in 1977, is a member of Credit Agricole Group;
• the bank opens savings (deposit) and settlement accounts;
• the bank opens accounts for local companies only, as well as personal accounts;
• account opening requires a personal visit of the beneficiary(ies) to Saudi Arabia;
• in general, there are no restrictions on payments to / from 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 (for personal accounts) and checkbooks (for corporate accounts) is possible;
• fee for transfer to a foreign bank – from SAR 50* (~ USD 13,5);
• Internet bank in English;
• account opening time: about 1-2 weeks

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