How to send money to Saudi Arabia
Find out how to make a money transfer to Saudi Arabia with the lowest fees and best rates in four easy steps
1. Check the SAR mid-market exchange rate against the currency you want to send
Even though the evolution of the currency market is unforseeable, it never hurts to follow it so that you can maximize how many you (or your recipient) receives after the currency exchange. Frequently check the mid-market exchange rate and transfer your money when you can get a good exchange rate.
2. Find the best deal by comparing the 21 available companies.
There are 21 providers to transfer money to Saudi Arabia, such as TransferWise, Western Union, MoneyGram, Currencies Direct, OFX. You will save big by comparing all your options to find the best one for your upcoming money transfer.
3. Pick the best service for your specific needs
Pick option with the lowest total cost, fastest transfer speed, best customer reviews, or the best compromise.
It is also interesting to pay attention to the pay-in and pay-out options. You can have money transfer providers allowing you to send the money from your bank account, some will also allow you to pay with your credit and debit cards. On the recipient's side in Saudi Arabia, you can decide if your want the amount in SAR to be transferred to your recipient's account or be available for cash pick-up.
4. Sign up and get started wih your money transfer with the service of your choice
Now is the time to complete the sign-up form on the money transfer provider's online portal (you most of the time have to give some information to confirm your identity), and set upyour transaction.