Saudi Arabia — A Global Remittance Powerhouse
Saudi Arabia is consistently ranked among the top 3 sources of global remittances, sending billions of dollars each month to countries across Asia, Africa, and beyond. With over 13 million expatriate workers, many supporting families in their home countries, the remittance industry in the Kingdom is massive and fiercely competitive.
In 2023 alone, Saudi Arabia's outbound remittances totalled approximately USD 38 billion. Pakistan, India, the Philippines, Egypt, and Bangladesh are the top recipient countries — each receiving hundreds of millions of SAR every month from workers in the Kingdom.
This guide helps you find the best deal — whether you want the best exchange rate, lowest fees, fastest transfer, or most convenient method.
The Key Metric: Total Amount Received
Don't just compare fees or exchange rates separately — always calculate total received amount in the destination currency.
A provider advertising "zero fees" may offer a poor exchange rate, costing you more than a provider charging a SAR 15 fee with a better rate. Always use our Remittance Fee Comparator to see the total received amount side-by-side.
Provider Comparison Overview
Wise (TransferWise)
Uses the mid-market exchange rate with a small transparent percentage fee (typically 0.5–1.5%). No hidden markup. Best for rate transparency and bank-to-bank transfers.
Fees: ~SAR 5–15 fixed + ~0.7% variable
Speed: 1–2 business days
Best for: Large transfers, India, Philippines
STC Pay
Saudi Telecom's digital wallet with built-in remittance. Available 24/7 from your phone. Wide partner network in Pakistan, Bangladesh, and Egypt.
Fees: SAR 10–25 per transfer
Speed: Instant to same-day
Best for: Pakistan, Bangladesh, frequent small transfers
Al Rajhi Bank
Saudi Arabia's largest Islamic bank. Excellent rates for frequent destinations. Has direct partnerships with HBL, UBL (Pakistan), SBI (India), BDO (Philippines).
Fees: SAR 10–30 depending on amount
Speed: Same-day to 1 business day
Best for: Large amounts, all major corridors
Western Union / MoneyGram
Available at thousands of locations across Saudi Arabia. Recipient can pick up cash within minutes at their local WU/MG agent. Higher fees but unmatched speed.
Fees: SAR 20–60 + rate margin
Speed: Minutes for cash pickup
Best for: Emergency transfers, areas without bank access
urpay
Saudi digital wallet by Arab National Bank. Competitive rates, no branch visits needed. Growing network for South Asian corridors.
Fees: SAR 5–20 per transfer
Speed: Same-day
Best for: Pakistan, India
Al Mujib / Al Ansari Exchange
Large licensed exchange house chains throughout Saudi Arabia. Competitive rates, especially for Pakistan, India, and Philippines. Can pay in cash.
Fees: SAR 10–25 or included in rate
Speed: Same-day
Best for: Cash-based transfers, unbanked recipients
Reference Exchange Rates (SAR to Major Currencies, 2025)
| Country | Currency | Approx. Mid-Market Rate | Typical Provider Rate |
|---|---|---|---|
| 🇵🇰 Pakistan | PKR | ~75 PKR/SAR | 73–75 PKR/SAR |
| 🇮🇳 India | INR | ~22.5 INR/SAR | 21.8–22.3 INR/SAR |
| 🇵🇭 Philippines | PHP | ~15.5 PHP/SAR | 14.8–15.3 PHP/SAR |
| 🇪🇬 Egypt | EGP | ~13.5 EGP/SAR | 12.8–13.3 EGP/SAR |
| 🇧🇩 Bangladesh | BDT | ~30 BDT/SAR | 29–30 BDT/SAR |
| 🇺🇸 USA | USD | ~0.267 USD/SAR | 0.263–0.266 USD/SAR |
Rates are approximate and change daily. Use our Live Remittance Comparator for current rates.
Sending Money to Pakistan from Saudi Arabia
Pakistan is the single largest remittance destination from Saudi Arabia, with an estimated USD 6–8 billion per year flowing from Saudi-based Pakistani workers. Options:
- Al Rajhi → HBL/UBL/MCB: Direct partnerships, competitive rates, same-day delivery
- STC Pay → Easypaisa/JazzCash: Mobile wallet-to-mobile wallet, instant
- Exchange houses (Al Mujib, Al Ansari): Cash-based, good for unbanked recipients
- Wise: Best rate, 1–2 days to any Pakistani bank account
Use our Pakistan Remittance Calculator to compare SAR→PKR rates across all major providers instantly.
Sending Money to India from Saudi Arabia
India receives the world's largest total remittance inflow, with a significant portion coming from Saudi Arabia. Popular methods:
- Al Rajhi → SBI/HDFC/ICICI: Well-established, competitive rates
- Wise: Excellent rates for large amounts
- Western Union: Good for cash pickup at India Post branches
- NPCI (UPI-linked): Some platforms now support direct UPI transfers — fast and low-cost
Use our India Remittance Calculator for live rate comparisons.
Tips to Get the Best Remittance Deal
- Always compare total received amount — not just fees or exchange rates separately
- Avoid airport exchange counters — rates are typically 5–10% worse than licensed exchange houses
- Send larger amounts less frequently — fixed fees hurt more on small transfers
- Check mid-market rate first — use Google or XE.com to see the real mid-market rate, then compare providers against it
- Transfer on weekdays — weekend transfers sometimes get delayed and may get a worse rate if pricing resets Monday
- Register for loyalty programmes — Al Rajhi, Western Union, and others offer loyalty discounts for frequent senders
- Verify recipient details — incorrect account numbers can cause delays of 5–10 business days to recover funds
Regulatory Rules You Should Know
All remittances from Saudi Arabia are regulated by SAMA (Saudi Central Bank). Key rules:
- Only use SAMA-licensed providers. Unlicensed "hawala" transfers are illegal in Saudi Arabia.
- Transfers above SAR 50,000 may require additional KYC documentation (source of funds evidence).
- Remittances must match your reported income — unusual patterns can trigger SAMA alerts.
- For amounts above certain thresholds, your Iqama and salary certificate may be required.