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Manadeel
Joined: 11 Apr 2007
Posts: 12
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 Posted: Tue Apr 17, 2007 5:52 pm Post subject: Back to Blighty -best deal for nicker? |
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I know there was a thread on this but the search isn't working for me right now.
Anyway, I wonder what the best way is to change the monkeys over if I don't have a bank account. |
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007
Joined: 30 Oct 2006
Posts: 2684
Location: UK/Veteran of the Magic Kingdom
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| Posted: Tue Apr 17, 2007 6:33 pm Post subject: Re: Back to Blighty -best deal for nicker? |
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| Manadeel wrote: |
I know there was a thread on this but the search isn't working for me right now.
Anyway, I wonder what the best way is to change the monkeys over if I don't have a bank account. |
Go to the 'Saraf' (Bureau of exchange) in Jeddah or Riyadh, where you can buy �'s and get better rate than any bank in SA.
Try Al-Amoudi saraf. |
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scot47
Joined: 10 Jan 2003
Posts: 15343
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| Posted: Thu Apr 19, 2007 8:35 am Post subject: |
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| Nicker ? In a nicker shop ? Or is that a typo for 'knicker' ? |
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Robski
Joined: 18 Feb 2007
Posts: 50
Location: Middle Europe
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| Posted: Thu Apr 19, 2007 10:55 am Post subject: |
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Dear Manadeel.
What I do is electronic transfer from my Saudi account to my Blighty account. It's a SABB/HSBC account here and it's great, and it's about 50 riyals a throw.
One of my mates takes his dosh down to Western Union and wires it all back, though apparently it's not cheap. Another bloke here swaps the cash into dollars or quid, and takes it home tucked into a money belt.
I much prefer the electronic transfer - much safer. I would find someone with a bank account and give him the 50 riyals.
Dear Scot47 -- you are not very helpful, are you. |
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scot47
Joined: 10 Jan 2003
Posts: 15343
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| Posted: Thu Apr 19, 2007 1:46 pm Post subject: |
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If the request were expressed in standard English perhaps help would be forthcoming.
Do these uinfortunates not have colleagues who can show them simple things like where to change money and how to send it back to the Old Country ?
Is there no solidarity now between migrant workers ?
WU is very expensive. Speedcash from SAMBA is the best deal - 30 riyals to a bank account in the UKofGB&NI. First time you need passport and Iqama. After that the Speedcash ID is enough. |
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Stephen Jones
Joined: 21 Feb 2003
Posts: 4124
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| Posted: Thu Apr 19, 2007 2:32 pm Post subject: |
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Speedcash does the UK. I pay 20SR for transfers to Sri Lanka, but the UK may cost more; the thing to be wary of is fees at the other end.
Whether Speedcash is quicker than telegraphic transfer depends on the corresponding bank in the UK. SABB to HSBC corresponding is two days; if your bank is different then there can be problems. |
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Manadeel
Joined: 11 Apr 2007
Posts: 12
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| Posted: Thu Apr 19, 2007 3:13 pm Post subject: |
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| Robski wrote: |
Dear Manadeel.
Another bloke here swaps the cash into dollars or quid, and takes it home tucked into a money belt.
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This is what my colleagues advised me to do. But I don't know whether I would really like to walk through the airports with a large wad of cash. Anyway, don't they have limits on how much cash you can carry? |
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007
Joined: 30 Oct 2006
Posts: 2684
Location: UK/Veteran of the Magic Kingdom
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| Posted: Thu Apr 19, 2007 3:29 pm Post subject: |
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| Manadeel wrote: |
This is what my colleagues advised me to do. But I don't know whether I would really like to walk through the airports with a large wad of cash. Anyway, don't they have limits on how much cash you can carry? |
As far as you have a receipt from the 'Saraf', plus an official letter from your employer about your salary, you are safe in the airport. As far as I know there is no limit on how much cash you can carry, the only thing you have to prove, in case you are asked, is a proof of the source of your cash.
Just watch who is watching behind your shoulder when you are inside the 'Saraf', you never know, be cautious when you have big sum!
Also, some banks in SA, ask for a letter from your employer in case you want to transfer big sum of money, and I think, this requirement was introduced after the events of 9/11!!
The other thing which you have to take into account when buying from 'Saraf', try to buy the notes of �'s or $'s with serial numbers which are successive, which means the notes are new and from the Bank, and not second hand notes. Because, I have heard stories about faked notes, especially the 500 Riyals note and the $, used in the black market! |
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Van Norden
Joined: 23 Oct 2004
Posts: 409
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| Posted: Thu Apr 19, 2007 5:43 pm Post subject: |
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| I don't get this. What timeframe are you talking about here? Each month's salary or a year's stockpile of cash? Are you leaving now? |
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Stephen Jones
Joined: 21 Feb 2003
Posts: 4124
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| Posted: Thu Apr 19, 2007 10:38 pm Post subject: |
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| I would normally say Travellers Cheques instead of cash; I seem to remember being able to cash them at M & S without much of a problem (banks are nightmares in the UK). |
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Manadeel
Joined: 11 Apr 2007
Posts: 12
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| Posted: Fri Apr 20, 2007 1:46 pm Post subject: |
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| Van Norden wrote: |
| I don't get this. What timeframe are you talking about here? Each month's salary or a year's stockpile of cash? Are you leaving now? |
Leaving in a couple of months. It's about a year's savings. |
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Manadeel
Joined: 11 Apr 2007
Posts: 12
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| Posted: Fri Apr 20, 2007 1:52 pm Post subject: |
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| Stephen Jones wrote: |
| I would normally say Travellers Cheques instead of cash; I seem to remember being able to cash them at M & S without much of a problem (banks are nightmares in the UK). |
That's a great idea. It didn't occur to me before. I wonder what the exchange rate would be in comparison to other methods. Would my bank do them? |
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007
Joined: 30 Oct 2006
Posts: 2684
Location: UK/Veteran of the Magic Kingdom
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| Posted: Fri Apr 20, 2007 2:20 pm Post subject: |
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| Manadeel wrote: |
| That's a great idea. It didn't occur to me before. I wonder what the exchange rate would be in comparison to other methods. Would my bank do them? |
Also, check if your bank can provide you with Draft Cheque (Banker Draft), check the rate and commission, may be it is cheaper compared to travel cheques.
Draft cheque provide better security and is very unlikely to be returned (the money will be deducted from your paying account, or using cash with Al-Rajhi Saraf). |
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Manadeel
Joined: 11 Apr 2007
Posts: 12
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| Posted: Fri Apr 20, 2007 4:25 pm Post subject: |
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| 007 wrote: |
| Manadeel wrote: |
| That's a great idea. It didn't occur to me before. I wonder what the exchange rate would be in comparison to other methods. Would my bank do them? |
Also, check if your bank can provide you with Draft Cheque (Banker Draft), check the rate and commission, may be it is cheaper compared to travel cheques.
Draft cheque provide better security and is very unlikely to be returned (the money will be deducted from your paying account, or using cash with Al-Rajhi Saraf). |
Wouldn't you need a bank account for a draft cheque? |
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Stephen Jones
Joined: 21 Feb 2003
Posts: 4124
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| Posted: Fri Apr 20, 2007 5:46 pm Post subject: |
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| You can get travellers cheques from Saudi banks with no problem, but do remember to give them some notice as they may otherwise not have the appropriate denominations or currencies. |
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