Transferring SAR to UK bank account

DEAR FRIEND! No need to send Riyals from here .Stay in the kingdom and keep moving.I think the best option is not to send $ out of the KSA+++

The simplest way is to just transfer the funds yourself from your Saudi account to your UK account using on-line banking. In my experience it takes 2 days maximum to appear in the UK account. The cost may vary, but I don't think it has cost me more than £40 - £50 (consider it a Tax!!!).

The alternative is to get a Financial Services company to do the transfer for you. They say they will get you a better exchange rate, although they can do nothing about any bank charges incurred. I've registered with Global Reach Partners in London for Personal FX - globalreach-partners.com - but to be honest, I haven't actually used them to transfer yet! They do offer to quote, so you could get the rate offered by your bank in Saudi and then compare. The system operates by them quoting,  you accept their rate, you transfer the money to them, and they then transfer to your UK account. It seems simple and it shouldn't increase the length of transfer time too much.

In my experience there is always a difference with what is quoted in Saudi and what actually appears in the UK - the £40 - £50 mentioned above, and as I said, I treat I as a tax (it makes me feel better when I know its a lot less than the UK tax on income!!).

I hope that helps?

Alex

When my Husband and I first got here he was paid cash and we had to transfer money home. We went into a SABB bank and transferred our money there. We thought it might make life easier as we bank with HSBC at home and SABB is the Suadi branch.

You will need an IBAN no. which your bank at home will let you know.
It is quick and simple.

I can't remember what the cost was but you could go in and inquire.

Best of luck.

Check these links for the earlier discussions on the same:

Link 1

Link - 2

Thank you for the wonderful replies.

It us much appreciated.

what is difference between opem market rares and the money transferred through this process

murtazaexpat wrote:

what is difference between opem market rares and the money transferred through this process

Hello

For info this thread has been inactive since 2012. You may not receive any response.

Regards
Kenjee

murtazaexpat wrote:

what is difference between opem market rares and the money transferred through this process

Mostly there isn't any difference