Can someone give me some info on sending money to UK from Saudi Arabia? What is the cheapest way to get money into a UK bank account, and how much does it cost?
I have heard that HSBC have branches in Saudi Arabia. Is it worth opening a bank account with them? They also offer an advantage account with multiple currencies. Would it be useful to have this type of account or does it work out cheaper to just wire money home to an ordinary account...
Wiring money to UK
14
544
I have found bank trf from Saudi to uk is hassle free (using Internet access)
However SABB which is HSBC does not give the best texchange rates
Riyad bank exchange rates are better
14
SaudiUK wrote:I have found bank trf from Saudi to uk is hassle free (using Internet access)
However SABB which is HSBC does not give the best texchange rates
Riyad bank exchange rates are better
OK, how much does it cost to send money over to the UK with TRF?
14
I am also thinking that having a multiple currency account would be useful as the money would need to be exchanged twice to use in Saudi Arabia with a regular UK sterling account (once into pounds, and then back to local currency in Saudi).
15 quid a month is what they charge for a HSBC advantage account with multiple currency option...
544
exchange rates
SABB (official exchange rate + 0.5 or 0.6)
Riyad Bank (official exchange rate + 0.15)
cost to trf money to UK account is SR 15 per transaction
14
What are the bank charges for receiving money in the UK? Today NatWest quoted me 7.50 plus 1% of amount. HSBC apparently just charge 8 pounds (under 4000 quid) but I wonder if that is true..
544
Simonsalsa wrote:What are the bank charges for receiving money in the UK? Today NatWest quoted me 7.50 plus 1% of amount. HSBC apparently just charge 8 pounds (under 4000 quid) but I wonder if that is true..
True ...I have a HSBC account in Manchester (UK)
279
Simonsalsa wrote:What are the bank charges for receiving money in the UK? Today NatWest quoted me 7.50 plus 1% of amount. HSBC apparently just charge 8 pounds (under 4000 quid) but I wonder if that is true..
Most of UK banks charge £5 for amount upto £100 and £7 for amount above £100 for transfer in.
If you get offshore account like Lloyds international then it is free.
4
I have a HSBC and Lloyds TSB account. What is the cheapest way of getting my money into a UK bank account?
BTW - Would I have to open a local bank account in Riyadh? Can I not be paid directly into my UK account by my employer?
544
Prince_5 wrote:I have a HSBC and Lloyds TSB account. What is the cheapest way of getting my money into a UK bank account?
BTW - Would I have to open a local bank account in Riyadh? Can I not be paid directly into my UK account by my employer?
Most employers pay in Saudi Riyals so a local bank account will be needed.
Most banks do offer internet banking so trf to a UK bank account is just a few clicks. 
Subscribe to this topic
Articles to help you in your expat project in Saudi Arabia
Opening a bank account in Saudi Arabia
One of the first and most important tasks for expats in Saudi Arabia is to get their bank accounts open and ...
Banking in KSA
My personal experience recommends that the foreign banks are far better and easier to deal with in terms of ...
Everything you need to know as an expat woman in Saudi Arabia
Saudi Arabia can be a challenging destination for women. As a strict Islamic country, Saudi Arabia imposes a lot ...
Driving in Saudi Arabia
Driving in Saudi Arabia is the easiest and most convenient way to get around. That being said, foreigners in Saudi ...
Dating in Saudi Arabia
If there was one adjective that could describe dating in Saudi Arabia, it would be the word 'discreet' ...
Getting married in Saudi Arabia
Saudi Arabia is a country that holds marriage and family as one of its core values. It is a privilege to get ...
Open a bank account that suits you
Discover the best international banks to manage your money securely.
"