Best way to send money to Saudi Arabia |

How to send money to Saudi Arabia

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If you’re willing to shop around, you can find a secure and affordable way to send money to Saudi Arabia.

Business or personal reasons may be pushing you to send money to Saudi Arabia. Because it’s an important country for oil export, there are numerous ways to exchange your US dollars for Saudi riyals. Take the time to carefully compare your options and consider every aspect of the transfer: fees, exchange rates and processing times all vary. This may save you money in the long run so you can send more without paying more.
XE Money Transfer

Our pick: XE Money Transfer

XE specializes in a wide range of foreign currency solutions and offers an affordable solution when you need to send money overseas.

  • Send money to 170+ countries.
  • Competitive exchange rates that are often better than banks.
  • Transfer up to $500,000 online.
  • See exchange rates in real-time.

    Compare money transfer services to Saudi Arabia

    I want to send


    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    $0 3 - 5 days USD 0.00 3.721 SAR 18,603 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
    USD 1,000 1 day USD 0.00 3.719 SAR 18,593 Exclusive offer: $0 transfer fee
    No-limit transfers with competitive exchange rates for 100+ currencies.
    Go to site Show details
    USD 1 1 day USD 8.00 3.623 SAR 18,084 Easily transfer cash to more than 350,000 locations around the world. Go to site Show details
    GBP 5,000 1 - 2 days USD 0.00 3.715 SAR 18,574 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

    Compare up to 4 providers

    Banks versus money transfer companies

    Going to the bank for a money transfer can be convenient. Many banks will likely trade in the Saudi riyal, so you should have options if you want to exchange US dollars for this exotic currency. However, banks are known to charge high fees and offer less favorable exchange rates, meaning you may not get the best deal out there.

    Money transfer companies offer a convenient and cost-effective transfer alternative. With minimal transaction fees and exchange rates that are generally higher than those offered by the banks, money transfer companies provide a useful service that can save you time and money.

    Cliff Sends Money to Saudi Arabia

    Cliff wants to send a money transfer to his brother Chad in Saudi Arabia. After some poor investment decisions, Chad is a little short on cash and needs some money to help him pay his next month’s rent. Since his bank doesn’t support the Saudi riyal, which is an exotic currency, Cliff decides to compare two money transfer companies to see which one offers him the most cost-effective deal.

    Money transfer company 1Money transfer company 2
    Exchange rate$1 USD = $3.6298 SAR$1 USD = $3.5501 SAR
    Transfer fee$10$10
    Transfer methodOnline bank account transferOnline bank account transfer
    Processing time1 to 3 days1 to 3 days
    Amount received (in SAR)$3,629.80 SAR$3,550.10 SAR

    As you can see from the table below, using the first transfer company means Cliff can send an extra 79 riyal to Chad.

    How do I compare transfer companies when sending money to Saudi Arabia?

    • Exchange rates. Compare the company’s exchange rates with those offered by a range of other transfer providers. Better exchange rates mean that more money arrives to your beneficiary, but look out for companies that also charge high fees with their high rates.
    • Transaction fees. You will usually be charged a transaction fee every time you send a transfer, but some companies waive this fee on large transfers.
    • Transfer methods. How will you be able to make your transfers: online, in a branch, over the phone and/or by using a smartphone app?
    • Flexible options. Look for flexible transfer options that can help you save time and money, such as forward contracts (which allow you to lock in an ideal exchange rate now and transfer the money later), limit orders (which allow you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met) and the ability to set up a recurring payment schedule.
    • Transfer time. Compare transaction processing times from start to finish between money transfer providers.
    • Minimum transfer amounts. If the company imposes a minimum or maximum transfer limit on each transaction, make sure either of those limits won’t disrupt your transfers.
    • Pickup options. How will your beneficiary access the funds you send: from his or her bank account or by visiting a transfer provider branch?

    Foreign exchange rates explained

    In most cases, exchange rate is a fluctuating number that banks and money transfer companies use to determine the worth of one country’s currency when converted to the currency of another country. However, the Saudi riyal is pegged to the US dollar at 3.75 SAR per 1 USD. This means it won’t fluctuate or change. You may not get this exact rate — most companies usually offer less to retain some profit — but you don’t have to worry about your money suddenly not getting as much riyal.
    Today’s USD-SAR exchange rate

    What are my options to send money to Saudi Arabia?

    • Specialist money transfer providers. Check out our list of trusted online transfer companies to see which ones allow you to send money to Saudi Arabia.
    • Cash pickup transfer companies. Western Union and MoneyGram are two companies with extensive global transfer networks.
    • Bank transfers. Compare your bank’s exchange rates and fees with those offered by other transfer providers.
    • International checks. Ask your bank how much it will cost to get an international guaranteed check to mail overseas.

    What are the steps to send money to Saudi Arabia?

    Although every provider is different, these are the basic steps you need to follow when sending money to Saudi Arabia.

    1. Review your money transfer options and then click Go to site.
    2. Register with the provider and start a transaction.
    3. Enter your recipient’s information and how much you intend to send to Saudi Arabia.
    4. Pay for your transfer and save your tracking number.

    Your tracking number can be used to keep tabs on the progress of your transfer or to contact customer support if you run into any problems along the way.

    Emergency cash transfers in Saudi Arabia

    If you need to make an emergency transfer to Saudi Arabia, you do have options. Companies like World First and MoneyGram offer money transfers in as little as one day, and you may be able to find a transfer that can be done even more quickly. But it will cost you. Your exchange rate might be subpar or you may have to pay higher fees. Consider the importance of a transfer that only takes a few minutes versus one that takes a day. If your recipient needs cash now, it’s possible, but they might not get as much while you spend more.

    Tips for picking up cash in Saudi Arabia

    • Find a transfer agent in a safe location.
    • Ask a friend to accompany you.
    • Keep your cash hidden while in public.
    • Deposit your funds into a bank account as soon as possible.

    Bottom line

    The Saudi riyal is one of the few currencies that doesn’t fluctuate from day to day. Because it’s pegged to the US dollar, you can expect regular exchange rates. And when you find a money transfer company with lower fees, you may be able to get a good deal on your transfer. Just be sure you understand everything that goes into making a money transfer before you decide on a company.

    Cash pickup locations in Saudi Arabia

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