How to open a bank account in Riyad Bank

• was founded in 1957, one of the largest banks in the region;
• 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 the RF, but much may depend on the amount / destination / source of origin of funds;
• main available currencies: SAR, USD, EUR, CNY;
• 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 100* (~ USD 27);
• Internet bank in English;
• account opening time: about 1-2 weeks

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