All expats working in Saudi Arabia earn livings to bring up expenses for those who were in their home country. Many people who work here is from Pakistan, India, Sri Lanka and Bangladesh all of them after hard work get their salaries and send a part of their salaries to their home country. Most of small worker want to send maximum money in cheap rates as their salaries are already low they don’t want to cut them due to services charges. Also don’t trust anyone for sending money there always a chance scam. I am providing some legal, safe and cheap ways to send money to home countries.
Sending Money to Bank Account:
Owing a Bank account in Saudi Arabia is really handy whenever it come to transfer money you can send as many money at any time without worry. As you know expats population in KSA is very high the banks make seperate service center called remittance centers for expats. After going to these remittance center bank convert SAudi Riyals in to your home country currency in according to exchange rate. Each transaction charge you a fee of 16 to 20 Riyals. The transaction process take almost 24 hours to complete.
You can transfer money from the list of these remitance service which were seperate for each Bank: The transfer fee or rate is different for all of them some charge more on one day and more on another day.
1. Quick Pay of National Commercial Bank
2. Telemoney Center of Arab National Bank
3. Enjaz Centers of Bank Al Bilad
4. Tahweel Centers of Al Rajhi Bank
5. Saudi British Bank
6. Speedcash Centers of SAMBA Bank
Western Union Exchange Centers:
You must heard about western union the exchange service which is always popular among every expat even it is also popular among tourists for exchanging of money to local currency. Western union set up their own center in many cities of KSA as well most banks also provide western union service. No matter where you find, the mechanism is same. The procedure of transfer is simple just go to the western union center or point give them money which you want to send they take you Iqama copy as well as signature after than they give you Money transfer Control Number(MTCN) which is a secret code also they ask you the name to whom you want to send money tell them the correct name of receiver according to his ID in home country. Tell this code only to a receiver which you trust in Home country they take his copy of ID card to western union center and give them MTCN number first they verify Receiver ID and give him money in Local currency according to exchange rate.
NIce article .. but you have missed most important factor or the mode of transfer that is through Al amoudi exchange who provide the best of exchange rates compared anyone in the kingdom and money gets deposited into your home account within 15 minutes.