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Banking in KSA

Written byFazli Sameeron 05 June 2012

My personal experience recommends that the foreign banks are far better and easier to deal with in terms of Customer Service, Englisg Language proficiency and also effective banking transactions.



SAMBA & SBB are by far the best. Hollandi, Fransi, and some of the other newbies come thereafter.

Dealing with the local banks for expats can be tough mainly because they simply do not take any pains to try and communicate in English nor do they want to assist the customer for his needs.

For foreign remittances, Western Union or SAMBA Speedcash are the most efficient. The foreign banks also offer very effective Internet Banking services that make it extremely convenient for the customer to carry out transactions from home.

I would also recommend that expats use the ATM's of their banks rather than those of other banks since if the card is swallowed or there is a dispute in the transaction it takes ages to get resolved. Ive been bitten hard by this once and I never use any other ATM except the ATM where I bank.

We do our best to provide accurate and up to date information. However, if you have noticed any inaccuracies in this article, please let us know in the comments section below.

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Comments

  • Carono
    Carono5 years ago(Modified)
    Is the info here still relevant, considering article is years old now? Im arriving in Riyadh later this year and will need to open an account for my salary. Was considering SAMBA, but still reading up on the opinions of other expats
  • S Lee Veless
    S Lee Veless9 years ago(Modified)
    Since the gov decided that all salary should be paid locally, I was forced to finally open a local account. My first choice was SABB since I have an account with HSBC back home where my salary gets banked in. But then I found out from tens of other expats all in a month that SABB cs is terrible and takes average 2 hours (exclude waiting time) from one counter to another (even if it is a Premier). A colleague of mine had troubles with the fund transfer and went to the abdulaziz branch, he was asked to wait for 2 hours before he could be attended (Premier account holder). Also I believe for every SAR45000 transfer you are charged a huge sum of money in USD (can't confirm the figures). SABB does not have TAC on device. So after some research, this guy opened an account with NBC. He said he did not even apply online. Just walk in with co letter, passport and iqama. The seat you and give you some drinks while they do all the running around to get your account set up. Your TAC meanwhile is a phone app. Just need to activate and it can be used any time anywhere (no wifi needed). And charged SAR 45 for the first 100,000 SAR. As for the comments below regarding the customer service's english proficiency, it really is based on your luck. Just because NBC is a local bank, does not mean that their employee had poor command in English :)
  • RRT31
    RRT319 years ago(Modified)
    I am having a nightmare experience with SABB transferring money to Canada. the transfer never reached it destination and they are blaming me although every month for the last year I had the same transfer (to my personal account in Canada) without problem. They said it is because the iban number is wrong. When I asked how could the number be correct one day and wrong the next day? They didn't care they said it is my fault and of course i am out of the hefty exchange rate fee for first sending the money and second getting whatever was left back to my account. bdw I am a VIP client ;-) ....I guess I will be shopping for a new bank, welcome advice...
  • musicman
    musicman9 years ago(Modified)
    Banking in KSA has now come leaps and bounds. New banks have popped up in the recent years and are offering much better services than some of the older international banks today. SAMBA, SABB and some of the older international banks have dropped their quality of service for many reasons. Staff attrition being one major issue that they are facing mainly because they have not been able to keep up to the salary, perks and benefits being offered by the new local banks. On top of it all we have to admit that banks are all vultures who are waiting to take a bite off the customer at any cost but very tight on giving anything back. I have worked for 30 long years in 2 international banks and I can vouch for this statement as a fact of life.
  • Farhan123456
    Farhan1234569 years ago(Modified)
    I have my worst experience with alrajhi bank as I have transferd my funds from rajhi to saudi fransi bank and till now it has been over a week but still funds are not transfered but debited from my account. Customer services don't know the solution and branch don't want to help. So please any body can tell me what legal actions can I take against bank as the amount is pretty high as I am a legal business man in ksa.
  • Canadian_Timmy
    Canadian_Timmy10 years ago(Modified)
    Just found this and it's great information. Great write up. I've been dealing with Bandque Fransi regarding my foreign remittance has gone smoothly every time - just my experience.
  • farrukhonline
    farrukhonline10 years ago(Modified)
    I am a SABB customer from last 7 years. Never had a single problem. But this time they have shown me another picture of them. For Annual updating of account after Iqama renewal was a worst night mare for me. First SABB ceased my account, 18 days before iqama expiry date without giving any early warning. After iqama renewal, I had to give: company salary certificate, 3 months company salary slip, iqama and passport copy stamped by company, offer letter, contract letter and home rental agreement. Even after submitting all the documents it took 6 days to reopen my account. I am very disappointed this time as i had suffered a lot and customer relation officers don't listen to you.
  • rollerblade
    rollerblade10 years ago(Modified)
    Thanks for the nice info :)
  • UsmanEli
    UsmanEli10 years ago(Modified)
    SAMBA is much better. SABB creates their own rules form nowhere, illogical and stupid.
  • arif153
    arif15310 years ago(Modified)
    I have accounts with SABB (HSBC), ANB & NCB (Quick-pay). My experience with SABB is best among all three. It has more options of Branch-less Banking & Online Services. My worst experience happened with Al-Rajhi, Riyadh Bank & NCB in order. I recommend that no one expat should go for the first two banks specially.

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