Job Discussion Forums

scot47 · Joined: 10 Jan 2003 Posts: 15343

I am in the process of changing my banking methods. I previously relied on a wooden box under my bed containing gold sovereigns,Maria Theresa Thalers and promissory notes signed by the Chief Clerk of the Bank of England.

Colleagues tell me this is 'old-fashioned' and I should go for online banking.

Comments please, especially on the RIYADH BANK. I refuse to have any truck with The Running Dogs at SABB, SAMBA or the successors to the strangely named Banque de Suez et de l'Indochine.

Sheikh Inal Ovar · Joined: 04 Dec 2005 Posts: 1208 Location: Melo Drama School

I hope you have better luck than I had with Union National Bank (UAE). Every online transaction I attempted with them required 2 to 3 visits to the branch to sort out their mess.

Stick with your stuffed mattress.

Have you ever tried cashing in some of that gold in the UK ... the Goldsmiths in Cardiff were terrified of it ... as though I'd done a bank job ...

Cleopatra · Posted: Wed Mar 28, 2007 6:38 am Post subject:

Riyadh bank has a pretty poor reputation among acquaintances of mine. Certainly the 'Ladies Branches' that I have had the misfortune to deal with were lousy. A friend of mine signed up for their Online Banking and found it simply impossible to use - and she's pretty savvy on such matters. As a result, she withdrew all her money from Riyadh Bank and opened an account with Samba. She found that they were better, though still not great. And know this: bad though some of the male branches may be, the "Ladies" are much, much worse.

ootii · Posted: Wed Mar 28, 2007 8:31 am Post subject: Re: Online Banking

GlobalDawg · Joined: 24 Jan 2003 Posts: 91

Scot,

I've had success with Ryiadh Bank. Once I started using their online banking service all my frustrations of dealing with the human element disappeared. The initial set up was somewhat of a challenge, but now it's smooth sailing. Over the past three and a half years I've probably been inside the bank less than five times. I am able to pay my telephone and utility bills and send money transfers from home. As well, I have been able to pay for exit/re-entry visas and iqama renewals; there are no fees for any of these services, except a thirty riyal fee for money transfers. The thirty riyal fee is minimal compared to the thirty dollar exchange fee I pay to my States' account--it's not about the exchange rate, it's just a ludicrous bank charge; banking cyber-thievery is more to the point. I've even accessed money from ATMs while in the States or other countries. I have direct deposit and when my salary is deposited, I get a mobile text message. I also get text messages indicating the amount of withdrawals from ATMs, the bill payments and money transfers. The bank also sends messages of each activity to my e-mail address. It is possible to set up a US Dollar account in addition to the Saudi Riyal account, so my guess is that is also possible to set up a British Pound account. Overall, the service has proven to be the path of least resistance for me.

Global

Stephen Jones · Joined: 21 Feb 2003 Posts: 4124

I've used SABB online for years, and have never had a problem. All the problems have come from ATMs and person to person dealing.

On the other hand, as you well know from recent events, it is best to have your bank account at the same bank your employer uses, as otherwise there can be untoward delays.

The other thing to bear in mind when getting an account in the Kingdom is to see what the partner bank of your bank at home is. When you make a transfer it goes first to the partner bank, and they then make an internal transfer within the country to your bank. If you are dealing with a country with an incompetent and avaricious banking system, such as the UK, you may well find long delays in that last part of the transaction. If your home bank is the partner bank of the Saudi bank, then an internet transfer will normally take two working days only.

scot47 · Joined: 10 Jan 2003 Posts: 15343

Yes. I try top avoid Third World countries like Britain whose banking sytem is run by bandits.

007 · Posted: Thu Mar 29, 2007 10:05 am Post subject:

Stephen Jones · Joined: 21 Feb 2003 Posts: 4124

British banks overcharging on foreign exchange commissions and delaying clearing transfers and cheques in order to profit from the accrued interest predates Nulabour by a long time.

Scot47 wants Riyad bank because it is the bank his employer uses; if you use another then there can be delays in the transfer between the two banks.