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Looking for the best way to send money from Ireland to family, friends or businesses in Saudi Arabia (or even to your own overseas bank account)?
Don't head straight to your Irish bank – compare specialist money transfer services instead. They nearly always offer better SAR exchange rates and lower fees, so for the same amount of euros you send, your recipient will receive more Saudi riyals.
Of the companies we've compared, XE Money Transfers is among the cheapest, with competitive exchange rates and fees starting from €0. Need a really fast transfer? CurrencyFair can get money to your recipient in Saudi Arabia within minutes.
Bank transfers are typically the cheapest way to get your money to Saudi Arabia. XE Money Transfers and CurrencyTransfer have some of the lowest bank transfer fees of the brands we've compared.When you're hunting down the cheapest ways to send money to Saudi Arabia, it's more important to look at the overall cost of your transfer. This has a couple of elements:
Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many Saudi riyals your recipient will end up with.
Many online providers can offer transfers to Saudi Arabia within minutes, although you're likely to pay a premium for the convenience.Here are some of the fastest average transfer speeds to Saudi Arabia:
Actual transfer times from Ireland to Saudi Arabia can depend on several different factors including transfer amount, payment method and currency.
The safest way to get your money to Saudi Arabia is to use a provider registered with Ireland's industry regulator, Central Bank of Ireland. All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both Ireland and Saudi Arabia.
A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.
If you need to make a sizable money transfer to Saudi Arabia, consider using a provider such as Wise (TransferWise) or CurrencyFair to benefit from its expertise in handling larger transfer amounts.Using a large transfer specialist can have the following advantages:
To send money to Saudi Arabia, you'll need the necessary documentation, your recipient's details and a way to pay.
Fatimah is working in Ireland as a software engineer and she stays in regular contact with her elderly parents back home in Saudi Arabia. Her parents need some funds to help pay off a mortgage, so Fatimah plans to send them €2,000 from Ireland.
She decides to compare a bank and a money transfer specialist to see which one can save the most money on her transaction.
|Bank||Money transfer company|
|Exchange rate||1 EUR = 3.97 SAR||1 EUR = 4.02 SAR|
|Transfer method||Bank account deposit||Bank account deposit|
|Processing time||2 - 5 working days||Next day|
|Amount received||7,896.45 SAR||8,031.14 SAR|
The money transfer company enables Fatimah to send an extra ر.س134.69, which is transferred straight to her parents' Saudi National Bank account.
When choosing a money transfer provider to send money from Ireland to Saudi Arabia, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:
Compared to a month ago, the euro is stronger against the Saudi riyal. Currently €5,000 is equivalent to ر.س20,204.00, whereas a month ago, €5,000 was equivalent to ر.س19,757.00. That's an increase of 2.26% over the past month.
But compared to a year ago, the euro is weaker against the Saudi riyal. A year ago, €5,000 was equivalent to ر.س20,619.00. That's a decrease of 2.01% over 12 months.
What's more important, however, is where the strength of the euro against the Saudi riyal goes from here – which is harder to call. But whichever way it goes, shopping around has the potential to get you more Saudi riyals for your euros and can help you get the best out of any market conditions.
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