How to open a bank account in Qatar National Bank

• a branch of Qatar’s QNB, which began operations in 2023;
• the bank opens savings (deposit) and current accounts;
• the bank opens accounts for local companies only;
• account opening requires a personal visit of the beneficiary(ies) to Saudi Arabia;
• 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, QAR, USD, EUR, GBP;
• there are requirements on the minimum balance during the year on the account: for personal – SAR 5 000 000 (~ USD 1 300 000), for corporate – SAR 200 000 000 (~ USD 53 000 000)*;
• 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 program of service in the bank