Samba Bank International Transfer

Sending Money Abroad: Save on International Transfers and Ensure Fund Security
Home » International Money Transfer » Samba Bank International Transfer

The Samba Bank, previously popular as The Saudi American Bank, was introduced on 12th February 1980 by gaining control over the Citibank branches in Riyadh and Jeddah to comply with the Saudi laws that needed all international banks to be owned at least 60% of Saudi. Citibank used a Technical Management Agreement to manage the new banks properly. The Former Prime Minister of Pakistan, Shaukat Aziz, was the managing director of the bank in the 1990s. The Jeddah branch of Citibank opened in 1955 whereas, the Riyadh bank opened its first branch in 1966. On February 12, 1980, a royal decree granted the role to a Saudi company named SAMBA where Citibank had a share of 40%. 

Also Read: OTP Bank International Money Transfer 

Transfer Money to Samba Bank Account 

If you’re a Remitbee customer, you will be able to send money to the Samba bank account without any problem. However, here are the important steps you need to keep in mind for Samba bank money transfer:

  • If you don’t have a Remitbee customer account, you need to create one. The process is completely degree. Upon creating an account, you will have access to the best currency exchange programs as well as money transfer services. 
  • A verification process will be conducted. Make sure you provide your full name, address, DOB, your ID, and occupation. The government would also require a photocopy of your ID to confirm your identity and protect your funds. 
  • Then you need to choose Saudi Arabia as the money transfer destination for your beneficiary. The rates you receive will be the best

Also Read: CBA Bank Money Transfer 

Why Do You Need to Send Money Directly to Samba Bank Account? 

As a Remitbee customer, you will be able to leverage numerous benefits while transferring money online to Saudi Arabia. Some of the best examples of Samba bank money transfer are:

  • You can transfer the funds directly to your Samba ban account. The amount you deposit from your account will be credited to the Saudi Arabian account within a few minutes. 
  • Money transfer under a specific amount is free of additional charges. 
  • You can conduct the transfers from your home as well as use your mobile phone to track the status of the transaction. 
  • Your beneficiaries will be able to use the Samba Bank account immediately so that they can access the funds. 

Must Read: Cooperative Bank International Transfer 

What Do You Need to Transfer Money to Saudi Arabia?

This is one of the most important pieces of information you need to know about Samba Bank money transfer. Here are the different pieces of information you need from your Saudi Arabian recipient:

  • Name of the Bank
  • Full Legal Name 
  • NBP bank account number 
  • IBAN 

If you or your beneficiary prefer the cash pickup option, you will also be able to process it. Remitbee provides cash pickup options from numerous locations. However, here are the details you would need:

  • The phone number, full legal name, and address of the beneficiary 
  • Choose a specific Saudia Arabian location from the list 
  • Keep in mind that the beneficiary needs to bring their transfer number as well as a valid ID while picking up the money. 

FAQs

Who owns Samba Bank?

The Saudi National Bank of Saudi Arabia owns most market share of the Samba Bank.

Who is the CEO of Samba Bank?

Ahmad Tariq Azam is the CEO of Samba Bank. 

Is Samba Bank now SNB?

Saudi National Bank completed its merger with Samba Financial Group on 6 January. 

This is everything you need to know about Samba Bank international transfer. For any student loan, bank account, or money-related questions, make sure you contact Fly.Finance

About Team Fly Finance

Leave a Comment

Tips for Maximising Forex Gains Know all About Currency Hedging for International Students How Does Exchange Rate Volatility Affect Student Loans Know All About DBS Stduent Account RBI Guidelines for Education Loan Recovery 5 Best Forex Cards to use in Ireland Saraswat Bank Forex Card for International Students Canada Visa Fees: A Breakdown for Indian Applicants Best Places for Currency Exchange in Liverpool Minimum Bank Balance Requirements for a Switzerland Student Visa
×

Send Money Abroad in <15 mins

×

Request a callback

×

Get an education loan at the lowest interest rate

×

Thank you! Your call request has been submitted

Our team will connect with your shortly

aero Want to transfer money abroad at the cheapest rates?