The sole purpose of expatriates coming in to Saudi Arabia is to Earn livelihood for their families at Home, some earn more while some earn enough to support daily needs. Due to downfall economic symptoms of Saudi economy hit by low oil prices many high earning expatriates want to transfer huge set of their saving back to their home. It is not clear when the oil prices become good for Saudi Arabia but it is chance that exchange rates might get low which negatively effects total lump sump for each conversion.
Transferring Legal Money:
We all know what it means by legally earned, a money which earned through legal channels and registered firms who were in compliance with local laws. If a person earning 5000 Saudi riyals per month and he don’t send any thing back to their home after one year he decided to send 60,000 Riyals at one time which is totally legal as this is his hard earned cash. There is no limit on White Cash or if you are a Muslim than it is consider as Halal Money. But if your monthly income or salary is more than what you earn on average than Saudi Authorities have right to check and investigate the money if anything suspicious get caught.
When if it is Not legal Money:
It is a common practice in kingdom that expatriates sign contract with some Saudi Citizen that he is his employee but actually expat is running his own business in the name of Saudi Sponsor, at the end of each month both sponsor and expat get their specified share. But if this employee send huge money let say 30,000 Riyal in one month than he must get caught by authorities in case of money laundering. It easy to transfer black money from third world countries but from Saudi Arabia where 10 million expats were residing it is impossible now.
Limit of Transferring at Banks:
There is no limit on transferring White(Halal) hard earned money but banks usually implement some rules to limit per day transaction amount they do so to stop access money get out from Bank.
Samba bank permits 67000 Saudi Riyals per day.
Al Rajhi Bank permits 50,000 Saudi Riyals per day.
Try to visit Bank with Valid iqama while transfer Riyals in small chunks banks may also ask for purpose of transaction of such huge amount