If you are an expatriate residing in Saudi Arabia and looking for a reliable and convenient banking experience, Al Rajhi Bank is an excellent option. This article provides a step-by-step guide on how to open a current account with Al Rajhi Bank, outlining its features and benefits.
Why Choose Al Rajhi Bank?
Al Rajhi Bank is renowned for its advanced digital banking services and an extensive network of ATMs and branches, making banking effortless for expatriates. Customers can benefit from seamless internal, local, and international transfer services. Additionally, innovative payment solutions such as NFC, Mada Pay, and Apple Pay enable quick and contactless transactions.
Selecting the Right Account
The classic current account is an ideal option for many expatriates. It does not require a minimum balance and offers a reward of 1000 Mokafaa Points when opened through the Al Rajhi Bank app.
Additional Perks with Salary Transfer
Individuals who receive their salary through their Al Rajhi Bank account are eligible for exclusive offers. These include a 0% downpayment on car leases, access to personal finance, credit cards, and other benefits.
Requirements
- Minimum age of 18 years
- Valid residency permit (Iqama)
- National Address Registration
- Nafath Account
Fees and Charges
Opening an account, issuing and renewing ATM cards, as well as cash withdrawals and deposits are free of charge at Al Rajhi Bank. However, if an ATM card is lost or damaged, there is a fee of SAR 30 for its replacement. Additionally, cash withdrawals made overseas incur a charge of SAR 25 per transaction.
How to Open Your Account Online
1. Download the App
Get the Alrajhi Bank mobile app from Google Play or the Apple App Store.
2. Sign Up
- Open the app and enable location access.
- Tap “Login,” then “Sign Up,” and choose “Open New Account.”
3. Enter Your Details
- Input your mobile and iqama number, agree to the terms, and click “Next.”
- Enter the verification code sent to your mobile.
- Fill in your personal details, including profession, email, primary income source, and monthly income. The VAT tax number is optional.
4. Identity Verification
- Choose the Nafath option and note the two-digit code.
- Open the Nafath app, select the correct code, enter your PIN, and complete facial recognition.
5. Additional Information
- Select your marital status.
- Choose your country, region, and city.
- Complete the FATCA&CRS Declaration and immigration status questions.
6. Set Up Online Banking
- Create your username and password.
- Set a four-digit PIN for your Digital Debit Card.
7. Account Activation
- You’ll see a success message with your account details. Take a screenshot for reference.
- Reopen the app, log in, and complete the verification call.
- Your account is now ready. Visit a self-service kiosk for a physical ATM card.
Conclusion
Opening an account with Al Rajhi Bank online is a simple process. By choosing this option, you can enjoy the numerous benefits of banking in Saudi Arabia with one of the most trusted and established banks in the region. This includes access to a wide range of financial services, convenient digital banking solutions, and the peace of mind that comes with banking with a reputable institution. Whether you’re managing day-to-day transactions or planning for your future financial needs, Al Rajhi Bank provides a reliable and user-friendly banking experience.