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Opening a bank account in Medina
Step-by-step guide to opening your bank account. Required documents, recommended banks, and mistakes to avoid.
Opening a bank account in Medina in 2026
A complete, step-by-step guide to opening your bank account in Saudi Arabia: required documents, recommended banks, deadlines, fees, and pitfalls to avoid for French-speaking expatriates living in Medina.
🏦 Finance⏱ 10 min read👥 Expats🗓 Updated April 2026
Iqama
Mandatory
0 SAR
Standard current account
3–10 days
Average activation time
SAMA
Banking regulator
1. Essential prerequisites
To open a bank account in Saudi Arabia, you must be a legal resident. Banks strictly enforce the rules of the SAMA (Saudi Central Bank) regarding KYC (know your customer) and biometric registration via Absher.
- Iqama valid (at least 3 months remaining validity recommended)
- Biometric registration carried out (fingerprints + photo) via a Jawazat center or an authorized kiosk
- Active Saudi number (STC, Mobily or Zain) registered in your name
- Proof of address : Ejar contract, SEC (electricity) bill, or NWC (water) bill
- Letter from the employer specifying the salary (for employees)
⚠️ Please note: Tourists and residents visiting family cannot open a standard bank account. Only holders of an Iqama, Premium Residency, or work visa are eligible.
2. Major banks in Saudi Arabia
Here are the banks with the strongest presence and best suited to expatriates, all supervised by SAMA:
| Bank | Medina Network | Application | LANGUAGES |
|---|---|---|---|
| Al Rajhi Bank | Very dense | Al Rajhi Mobile | AR / EN |
| Saudi National Bank (SNB) | Dense | SNB | AR / EN |
| Riyadh Bank | AVERAGE | Riyad Mobile | AR / EN |
| SAB (Saudi Awwal Bank) | Limit | SABmobile | AR / EN |
| Alinma Bank | AVERAGE | Alinma | AR / EN |
| STC Pay / STC Bank | 100 % digital | STC Pay | AR / EN |
💡 Tip:Al Rajhi Bank is the most frequent choice for residents in Medina thanks to its network of branches, its multilingual ATMs and its compatibility with all government platforms (Tawakkalna, Absher Payments, Muqeem).
3. Documents to prepare
Required documents
- Original + copy of the’Iqama
- Original + copy of passport (with entry visa)
- Letter from the employer (Salary Certificate) dated less than 30 days prior, stating salary, position and date of hire
- Proof of address : registered Ejar contract or recent SEC invoice
- Saudi phone number in your name
Additional documents (depending on profile)
- For freelancers: Commercial Registration (CR) + municipal license
- For non-salaried spouses: sponsorship letter from the spouse + their salary certificate
- For students: official university certificate
4. Opening Steps
- Prepare your documents
Gather Iqama, passport, employer letter, Ejar contract and active Saudi mobile number. - Choose an agency
Locate the branch closest to your neighborhood using the bank's app or Google Maps. In Medina, the areas of Qurban, Al-Haram, and Al-Khalidiyyah have the majority of branches. - Make an appointment
Most banks allow appointments to be booked via their app or a simple phone call. Some accept walk-ins in the morning. - Go to the agency for KYC
Signing of the opening form, biometric verification, photo, reading of the Iqama. - Activate the account
Activation within 24 to 72 hours after internal validation. You will receive a confirmation SMS. - Retrieve the map
Mada card (debit) delivered to agency or by courier within 3 to 10 working days. - Install the mobile app
Download, activate via OTP, set your PIN. The app allows for transfers, bill payments, and SADAD (Simplified Administrative Document for Home Support).
5. Fees and conditions
| Service | Indicative cost |
|---|---|
| Opening a current account | Free |
| Mada card (debit) | Free (1st card) |
| Account maintenance | Generally 0 SAR |
| National bank transfer (IBAN) | Free via app |
| ATM withdrawal from another bank | ≈ 2 SAR |
| SWIFT international transfer | ≈ 50–100 SAR + exchange commission |
| Card replacement | 20–30 SAR |
✅ Good to know: Saudi banks offer two account models: conventional (with interest) and Islamic (Sharia-compliant, without riba). Al Rajhi, Alinma and most banks offer the Islamic model by default.
6. Mobile applications and digital services
Saudi banks have massively digitized their services. The mobile application is now the main channel to manage your account on a daily basis:
- Checking balance and statements
- Instant transfers via IPS (Sarie Instant) 24/7
- Bill payments SADAD (electricity, water, telecoms, fines)
- Prepaid mobile top-up
- International transfers (depending on the bank)
- Card management (blocking, PIN code, limits)
STC Pay And urpay are 100% digital alternatives widely used for small payments and integrated Western Union transfers.
7. International Transfers
To send money to France, Morocco, Algeria or Tunisia, several options exist:
| Solution | Deadline | Advantage |
|---|---|---|
| Transfer Agency (Enjaz, Tahweel Al Rajhi) | A few minutes | Competitive rates, large network |
| Banking application (SWIFT) | 1–3 days | Convenient, direct account-to-account |
| Wise / Revolut (via third-party account) | 1–2 days | Very low fees, rate close to market |
| Western Union / MoneyGram | A few minutes | Cash withdrawal abroad |
⚠️ Tax vigilance: Any transfer exceeding 60,000 SAR must be documented (origin of funds) to comply with SAMA's anti-money laundering rules.
8. Common mistakes to avoid
❌ Don't do that:
- Open an account with an Iqama expiring in less than 3 months
- Use a mobile number that is not in your name for the OTP
- Forget about biometric registration on Absher before the application
- Submit a salary letter dated more than 30 days ago
- Sharing your PIN or OTP, even with a bank advisor
💡 Tip: In case of a change of employer (transfer of kafala), remember to update your bank profile within 30 days to avoid account freezing.
9. Frequently Asked Questions
Can I open an account before I have my Iqama?
No. SAMA requires an active Iqama and biometric registration. Some banks offer a "pre-account" for new employees, but it remains inoperative until the Iqama is issued.
Can an unemployed spouse open an account?
Yes, under the sponsorship of a resident spouse. You must provide the Iqama, a copy of the attested marriage certificate, and the sponsor's salary letter.
Can I have an account in euros or dollars?
Yes, most major banks (SNB, SAB, Riyad Bank) offer multi-currency accounts in the form of "Foreign Currency Account", upon explicit request at the branch.
Can my account be frozen?
Yes, if your Iqama expires, if you are declared a huroob (absconding), or in the event of an anti-money laundering alert. Unblocking requires regularization with Jawazat and then with the bank.
What is the difference between an Islamic account and a conventional account?
The Islamic account (the default in most Saudi banks) complies with Sharia law: no riba (interest), products based on murabaha, ijara, or wakala. The conventional account offers standard interest-bearing credit.
Is it possible to do everything online?
STC Bank, D360, and certain Alinma accounts allow for 100% digital account opening via Nafath (Absher authentication). Biometric KYC remains mandatory, but it can be completed remotely via facial recognition.
10. Official links and resources
Need local support in Medina?
Our teams know the agencies, the opening hours and the French-speaking advisors.
Related guides
📄 Update : April 2026 · The information in this guide is for guidance purposes only. Saudi procedures, prices, and regulations are subject to change. Always verify up-to-date information with official sources. (Absher, Jawazat, SAMA, MoE, CCHI, MOFA) before any action.
Mis à jour le 19/04/2026