Saudi Arabia is one of the world’s largest remittance-sending countries. In 2025 alone, expatriates transferred a record 165.5 billion Saudi riyals ($44+ billion) abroad, reflecting a 15% annual increase and confirming the Kingdom’s critical role in global remittance flows.
With millions of expats sending money regularly to India, Pakistan, Bangladesh, Egypt, and the Philippines, choosing the right money transfer service is essential. The wrong choice can cost you extra fees, poor exchange rates, or delays.
Remittance Trends in Saudi Arabia (Chart)
Saudi Arabia Remittance Growth (Recent Years)
| Year | Total Expat Remittances | Growth |
|---|---|---|
| 2023 | SAR 144.2 billion | — |
| 2024 | SAR 144.2 billion+ | +14% |
| 2025 | SAR 165.5 billion | +15% |
| Monthly average 2025 | SAR 12.6 billion | +5% YoY |
Key takeaway: Remittances are increasing rapidly due to economic growth, fintech innovation, and Saudi Vision 2030 digital transformation initiatives.
Types of Money Transfer Services in Saudi Arabia
There are three major categories:
- Digital wallet apps
- Bank-based transfer services
- International money transfer companies
Each category offers different benefits depending on your needs.
Best Digital Wallet Transfer Services (Fastest and Cheapest)
Digital wallets have transformed money transfers by offering instant transfers and low fees.
Comparison Table: Best Digital Wallet Services
| Service | Coverage | Transfer Speed | Key Advantage | Monthly Limit |
|---|---|---|---|---|
| STC Bank | 120+ countries | Instant | Digital banking license | High |
| UrPay | 200+ countries | Instant | Backed by Al Rajhi Bank | High |
| Tiqmo | 200+ countries | Minutes | MoneyGram partnership | Moderate |
| Barq | 200+ countries | Instant | Competitive exchange rates | SAR 100,000 |
1. STC Bank (formerly STC Pay)
STC Bank is one of the most widely used digital remittance platforms in Saudi Arabia. It became a fully licensed digital bank in 2025 and supports transfers to over 120 countries.
Key features:
- Instant international transfers
- Integration with Western Union
- Supports UPI transfers to India
- Competitive exchange rates
- Secure SAMA-regulated platform
Best for: Expats who want fast, digital-only transfers.
2. UrPay (Al Rajhi Bank)
UrPay has over 6.5 million users and is backed by Al Rajhi Bank, one of Saudi Arabia’s largest financial institutions.
Key features:
- Integration with Tahweel Al Rajhi
- Western Union partnership
- Mobile wallet and bank transfer support
- Promotions and cashback offers
Best for: Users who want bank-level reliability with mobile convenience.
3. Tiqmo
Tiqmo is a fast-growing digital wallet licensed by the Saudi Central Bank. It uses the MoneyGram network to transfer funds globally.
Key features:
- Coverage in 200+ countries
- 480,000+ cash pickup locations
- Transfers to mobile wallets and banks
- Supports 120+ currencies
Best for: Sending money to South Asia, Africa, and Southeast Asia.
4. Barq Digital Wallet
Barq is one of Saudi Arabia’s fastest-growing fintech platforms, reaching over 1 million users within weeks of launch.
Key features:
- Instant transfers worldwide
- High monthly transfer limit (SAR 100,000)
- Competitive rates
- Licensed by Saudi Central Bank
Best for: Sending large amounts digitally.
Best Bank Transfer Services (Most Reliable)
Bank transfer services offer higher transfer limits and stronger security.
Comparison Table: Best Bank Transfer Services
| Service | Fee Range | Countries | Best Feature |
|---|---|---|---|
| SNB QuickPay | SAR 18+ | 200+ | Low fees |
| Tahweel Al Rajhi | SAR 15–25 | 200+ | Largest network |
| Enjaz | SAR 18–25 | 200+ | Fast transfers |
| Fawri | SAR 20+ | 200+ | Reliable banking |
5. SNB QuickPay
SNB QuickPay is one of Saudi Arabia’s most widely used remittance services.
Key features:
- Transfer fee starts at SAR 18.40
- Free transfers to Pakistan
- Supports 7 languages
- Available via ATM, app, and branch
Best for: Low-cost transfers with strong bank support.
6. Tahweel Al Rajhi
Tahweel Al Rajhi operates over 230 remittance centers across Saudi Arabia.
Key features:
- Instant transfers worldwide
- Free remittance insurance
- Cash pickup and bank deposit options
- Backed by Al Rajhi Bank
Best for: Large transfers and in-person support.
7. Enjaz (Bank AlBilad)
Enjaz is one of Saudi Arabia’s leading remittance services, especially popular among Filipino expats.
Key features:
- Transfer fees start at SAR 18
- Instant digital membership
- Mobile and branch transfers
- Strong global coverage
Best for: Affordable transfers with strong branch support.
Best International Money Transfer Services
These companies specialize in global remittance.
8. Western Union
Western Union operates in over 200 countries and has one of the largest transfer networks globally.
Key features:
- Cash pickup within minutes
- Transfers from SAR 15 online
- Real-time tracking
- Secure global infrastructure
Best for: Fast global transfers and cash pickup.
9. Ersal
Ersal is licensed by the Saudi Central Bank and operates through Saudi Post branches.
Key features:
- Competitive exchange rates
- Apple Pay and MADA support
- Worldwide transfers
- Branch and mobile access
Best for: Reliable branch-based transfers.
Cost Comparison Chart
Example: Sending SAR 1,000 internationally
| Provider | Fee | Transfer Speed | Best For |
|---|---|---|---|
| STC Bank | Low | Instant | Fast transfers |
| UrPay | Low | Instant | Digital users |
| QuickPay | SAR 18+ | Same day | Bank reliability |
| Enjaz | SAR 18–25 | Same day | Affordable transfers |
| Western Union | SAR 15+ | Minutes | Cash pickup |
How to Choose the Best Money Transfer Service
Consider these factors:
1. Transfer Fees
Always compare fees and exchange rates. Some services offer free transfers but worse exchange rates.
2. Transfer Speed
| Speed | Best Service |
|---|---|
| Instant | STC Bank, UrPay |
| Same day | Enjaz, QuickPay |
| Minutes | Western Union |
3. Transfer Amount
| Transfer Size | Best Option |
|---|---|
| Small (<SAR 1,000) | Digital wallets |
| Medium (SAR 1,000–10,000) | Compare all services |
| Large (>SAR 10,000) | Banks |
4. Destination Country
Some services offer better rates depending on destination.
Common corridors:
- India
- Pakistan
- Philippines
- Bangladesh
- Egypt
Saudi Arabia is a major remittance source for these countries due to its large expat workforce.
Digital Wallet vs Bank vs International Transfer Comparison
| Feature | Digital Wallet | Bank Transfer | International Provider |
|---|---|---|---|
| Speed | Fastest | Moderate | Fast |
| Fees | Lowest | Moderate | Moderate |
| Limits | Moderate | Highest | Moderate |
| Convenience | Best | Moderate | Good |
| Security | High | Highest | High |
Regulatory Framework and Security
All money transfer providers in Saudi Arabia must be licensed by the Saudi Central Bank. This ensures:
- Anti-money laundering compliance
- Customer protection
- Secure transactions
- Fraud prevention
This regulatory oversight makes Saudi Arabia one of the safest countries for international remittances.
Best Money Transfer Services by Category
| Category | Best Service |
|---|---|
| Best overall | STC Bank |
| Cheapest | Enjaz |
| Fastest | Western Union |
| Best bank option | SNB QuickPay |
| Best digital wallet | UrPay |
| Best for large transfers | Tahweel Al Rajhi |
Tips to Save Money on Transfers
Follow these tips to reduce costs:
- Use digital wallets instead of bank transfers
- Compare exchange rates regularly
- Avoid branch transfers when possible
- Use promotions and free transfer offers
- Transfer larger amounts less frequently
Exchange rates can change frequently, so comparison is essential.
Future of Money Transfers in Saudi Arabia
Saudi Arabia’s fintech sector is expanding rapidly due to Vision 2030 initiatives. Digital payment systems like Google Pay and Alipay+ are launching in Saudi Arabia, further improving remittance convenience.
Expected trends:
- Faster transfers
- Lower fees
- More fintech options
- Increased digital adoption
Conclusion
Saudi Arabia offers one of the most advanced remittance ecosystems globally, with options ranging from digital wallets to international transfer providers.
Best overall choices in 2026:
- STC Bank and UrPay for digital transfers
- QuickPay and Enjaz for bank-based transfers
- Western Union for fast global transfers
Choosing the right service depends on your transfer amount, destination, and speed requirements.
Digital wallets are now the best option for most expats due to low fees, instant transfers, and convenience.
