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Need to send money to Saudi Arabia? Digital money transfer specialists will almost always be cheaper than your bank for converting pound sterling into Saudi Arabian riyals. Skip your local bank, if possible, and rely on specialists to better fit your budget, desired turnaround time and other money transfer needs.
Sign up and send money with a digital money transfer service in as little as four steps:
Online money transfer providers typically offer the strongest exchange rates and lowest fees to send money to Saudi Arabia. PayPal, banks and other options are available but come with high fees, weak rates and long turnaround times.
Companies like OFX and CurrencyTransfer specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s bank account, often in as little as a day or two.
Services like MoneyGram allow you to transfer cash for pickup at a local branch in Saudi Arabia – often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees. If a cash pickup is necessary, look to digital services like WorldRemit or Remitly when possible.
Saudi Arabian riyals aren’t a popular currency, which means banks may not offer them. If your bank supports riyals, beware of high fees and wide margins on the exchange rate compared to digital and other options.
Let’s say you need to send £2,000 to family in Saudi Arabia. Here’s what you might face as far as fees and exchange rates as of 30 April 2020.
|Digital money transfer||Cash transfer||Bank transfer|
|Fee||£0||£1.90||£20 + additional correspondent bank fees|
|Exchange rate||1 GBP = 4.68 SAR||1 GBP = 4.60 SAR||1 GBP = 4.53 SAR|
|Transfer speed||1-2 days||Minutes||2-5 days|
|Amount received||SAR 9,360||SAR 9,210||SAR 9,067|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient. If you go with the digital money transfer service, your recipient ends up with SAR 293 more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to Saudi Arabia in as little as 15 minutes.
Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Saudi Arabia to meet your needs:
When you need to get money to Saudi Arabia in an emergency, there are options to have the money ready for pickup in minutes.
This involves paying with a credit or debit card and transferring to a cash pick-up location. While it is fast, there’ll be more fees involved.
If you don’t have a bank account, you can still use cash transfer services to get the money to its destination. Similarly, a recipient can get the money with a cash transfer if they don’t have a bank account.
These cash transfer services are widely available around the world and although they’ll typically not be the cheapest available service they can be fast, convenient and can be used without bank accounts.
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Saudi Arabia’s exchange rate is fairly consistent compared to the GBP, which means it may shift during large events but typically doesn’t change much day-to-day. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Saudi Arabian riyal trades against the pound sterling in our historical rate chart.
To send money to Saudi Arabia from the UK, you’ll need government-issued ID and other documents, while documents needed to pick up money in Saudi Arabia may be different by company.
To send money:
To pick up money in person:
Sending your hard earned money to Saudi Arabia, whether to support your family, invest in a new business or something else entirely shouldn’t cost a fortune. Now that you know how to send money to Saudi Arabia, be sure to use our country specific guides on how to send money around the world the next time you need to make a transfer.
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