How to open a bank account in Saudi National Bank (SNB)

• founded in 1953, the largest bank in Saudi Arabia;
• the bank opens savings (deposit) and current 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, CNY, etc.;
• no minimum balance requirement on the account – 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 banking in English

*Example tariffs / requirements are given, as they may ultimately differ depending on the client’s chosen service program with the bank