Job Discussion Forums

spunkmonkey · Joined: 16 Jun 2009 Posts: 93

I would like to ask how easy/difficult it is to send money overseas. I have property commitments in the far east and need to keep up regular payments. Is it relatively easy to transfer (or transfer via 3rd party) money from Saudi?

Many thanks in advance.

trapezius · Posted: Tue Jun 30, 2009 6:42 am Post subject:

Yes, as easy as ABC.

Cleopatra · Posted: Tue Jun 30, 2009 11:37 am Post subject:

No problem.

Entire economies in Asia and elsewhere depend largely on remittances sent by their citizens working in the Gulf countries, so transferring money abroad is a very common procedure here. Get yourself online banking when you open an account here - this is very easily done - and you can transfer funds at the click of a mouse.

meri · Joined: 17 Oct 2007 Posts: 31

Does anyone know if I have to pay tax on my earnings if I transfer them to the UK?

Thanks

007 · Posted: Tue Jun 30, 2009 2:12 pm Post subject:

spunkmonkey · Joined: 16 Jun 2009 Posts: 93

Online banking sounds ideal. Would I have to bank with HSBC for example, or do the regular banks provide international transfer service.

Many thanks for your help thus far.

Cleopatra · Posted: Tue Jun 30, 2009 3:39 pm Post subject:

buildbyflying · Posted: Mon Jul 06, 2009 10:47 pm Post subject:

there's always western union. Confused

vanVlaanderen · Joined: 03 May 2009 Posts: 21

Can money be easily sent to the USA? I am wondering if all the security measures are an obstacle. Also, is it a problem to use US based credit cards in KSA? Doe this raise a red flag in the US and caused you to be investigated by Homeland Security?

Mia Xanthi · Posted: Wed Jul 08, 2009 9:24 pm Post subject:

Most of the people that I know have their salaries direct-deposited into their accounts in the states. This is much easier and cheaper than sending transfers.

One word of caution: if you come over on a business visa, you will not be able to easily send money. You need an iqama to open up any kind of account, either banking or transfer. This can pose a huge problem for those having bills to pay back home.

vanVlaanderen · Joined: 03 May 2009 Posts: 21

If they have their pay direct deposited, how do they get cash? ATM?

Stephen Jones · Joined: 21 Feb 2003 Posts: 4124

I've never known anybody apart from those on BAe contracts have their money paid in anything but Saudi riyals.

If you have an iqama making a transfer is as easy as pie. You can either use your own Saudi banks online transfer facility or go to a branch of SpeedCash or Al-Rajhi.

Western Union incidentally is by far the quickest if you want somebody to pick up the cash at the other end. Transfer is instantaneous.

Mia Xanthi · Posted: Thu Jul 09, 2009 3:52 pm Post subject:

PMU will direct deposit your salary in dollars in your US bank account. I don't know about others. You can also elect to have part of your salary in cash and part of it direct deposited, I think.

Sheikh N Bake · Joined: 26 Apr 2007 Posts: 1307 Location: Dis ting of ours

Mia is correct. Certain private companies also will deposit any dollar amount you stipulate directly into a US bank account and the remainder in your Saudi account, from which you draw cash via an ATM. To remit to other countries, use your Saudi bank's web site.

omar08 · Joined: 18 Mar 2010 Posts: 12 Location: UK