Opening a bank account in Saudi Arabia
What you need, which accounts expats use, and how mada, SARIE and digital wallets work.
In short
Saudi banks open accounts with an iqama and Absher-linked mobile number. Your salary must be paid into a Saudi account, and STC Pay or bank apps are widely used for daily payments.
- Needed
- Iqama + Absher mobile
- Time
- Same day in app
- Payment network
- mada
- Regulator
- SAMA
Step by step
Tick each step as you finish it. Open a step to see what to do.
Banks verify via Absher.
Day 1
Documents checklist
Do’s and don’ts
Do
- Keep Absher mobile updated
- Use licensed remittance providers
Don’t
- Don’t let others use your account – it is a crime
Cost estimator
Untick what doesn't apply to you. These are rough figures and fees change often, so check with the authority.
Watch out
- Accounts are frozen when your iqama expires. Renew on time.
Common questions
Are there Islamic accounts?
All Saudi banks are Sharia-compliant.
Official links
Background and more detail
What you need
- Iqama (residence permit) and its Absher record
- Passport
- A salary certificate or letter from your employer
- A Saudi mobile number registered in your name
Most banks will not open a full account before your iqama is issued. Your employer usually nominates a payroll bank.
Everyday payments
- mada debit cards work at almost every shop
- SARIE handles instant transfers between Saudi banks
- Wallets such as STC Pay and Apple Pay are widely used
Sending money home
Use bank transfers or licensed exchange houses. Compare the exchange rate as well as the fee; the margin is often the bigger cost.
Good to know
Keep your iqama and phone number up to date with the bank. Accounts linked to an expired iqama can be frozen.
Rather have someone do it?
Vetted local partners can handle this for you. Free quote, no obligation.
Real Estate Purchase Brokerage
Introductions to RERA-licensed agents and developers for buying property.
- From
- Quote
- Takes
- Ongoing
Free for clients — partner commission applies
Get a free quoteLegal & Accounting Introductions
Find a licensed lawyer, accountant or VAT agent for your situation.
- From
- Quote
- Takes
- 2–5 days
Free introduction
Get a free quoteGet updates like this every week
Related guides
Bringing family to Saudi Arabia
Permanent family visa vs visit visa, salary needed and costs.
Starting a business in Saudi Arabia with a MISA licence
Foreign investment licence, commercial registration and visas.
Taxes in Saudi Arabia: VAT, Zakat and income tax
What expats pay and what businesses must file.