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Transferring Saudi Riyals to UAE Dirhams

Transferring Saudi Riyals to UAE Dirhams

Old Oct 20th 2013, 12:35 am
  #1  
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Smile Transferring Saudi Riyals to UAE Dirhams

Any recommendations on reasonably competitive and reliable ways to transfer from a Saudi bank account (Riyal-denominated) to a UAE account (Dirham-denominated)?

I naively imagined that this should be a straightforward transactions, given the effective fixed exchange rate and liquidity within the GCC. However, SABB has been quoting me worse rates than the airport Bureau de Change, and the online FX I used previously would have to send everything via my UK GBP account (so paying two lots of fees).

Cheers.
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Old Oct 21st 2013, 11:32 am
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Smile Re: Transferring Saudi Riyals to UAE Dirhams

Originally Posted by Tosis View Post
Any recommendations on reasonably competitive and reliable ways to transfer from a Saudi bank account (Riyal-denominated) to a UAE account (Dirham-denominated)?

I naively imagined that this should be a straightforward transactions, given the effective fixed exchange rate and liquidity within the GCC. However, SABB has been quoting me worse rates than the airport Bureau de Change, and the online FX I used previously would have to send everything via my UK GBP account (so paying two lots of fees).

Cheers.
Hi Tosis,

We can handle transfers from SAR to AED.

We could do the straight transfer as well and would, without a shadow of doubt, beat the airport Bureau de Change.

If you have any further questions please feel free to ask.

We are the new currency partners of British Expats and we do have a British Expats offer on for BE users.

Thanks

Joe
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Old Oct 21st 2013, 11:52 am
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Default Re: Transferring Saudi Riyals to UAE Dirhams

If you are in KSA at the moment you will get the best deal by handling CASH. Take the riyals to one of the Bureaux de Change and get Dirhams in cash !

When leaving you have to declare the cash at Saudi customs but that is a small price to pay !
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Old Oct 24th 2013, 10:54 am
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Default Re: Transferring Saudi Riyals to UAE Dirhams

Thank you both for your suggestions - I'll check out the rates.
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Old Oct 25th 2013, 2:30 pm
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Default Re: Transferring Saudi Riyals to UAE Dirhams

I used Al Amoudi who have a network of Bureaux de Change in KSA. Al Rajhi used to do it but I think moved out of that business a few years ago.
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Old Oct 26th 2013, 7:26 pm
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Default Re: Transferring Saudi Riyals to UAE Dirhams

A sign at the border heading into Saudi said you can take 100,000 dirhams in legally. Does that work both ways?
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