Sending cross-border payments from Saudi Arabia: the stack

By Polynopsis team · Last updated 29 October 2026

Payment services in Saudi Arabia need a SAMA licence under the Law of Payments and Payment Services, but the Implementing Regulations list money remittance among the services that are not payment services, and under the Rules Regulating Money Changing Business only money changers that held transfer licences when the Rules were issued can send money abroad, so outbound remittance runs through banks and those licensees. Payment institutions are licensed as a Micro PI (no cross-border services to persons outside the Kingdom, under SAR 10 million a month) or a Major PI (above SAR 10 million a month, at least SAR 3 million of paid-up equity), or as an EMI; safeguarded funds must be protected on receipt and, if still held at the end of the business day after receipt, kept in a separate client account at a licensed bank. The typical stack pairs a Saudi bank such as Riyad Bank or alinma for accounts and APIs, sarie instant payments (24/7, up to SAR 20,000) with SARIE RTGS for larger amounts, SAMA-licensed collection providers such as Tap, Geidea and HyperPay, and Nafath and Wathq for identity and company checks, against a riyal held at 3.75 to the US dollar.

Currency	SAR
Collection and funding rails	sarie (Instant Payment System), SARIE (Saudi Arabian Riyal Interbank Express, RTGS)
Holiday calendar	Saudi Arabia bank holidays 2026 and 2027

The Saudi Arabia market

Personal remittances paid from Saudi Arabia were US$58.69 billion in 2025, up from US$46.56 billion in 2024 (World Bank data, last updated 8 October 2026). source
Expatriate remittances from Saudi Arabia reached a record SAR 165.5 billion in 2025, up 15% from SAR 144.2 billion in 2024, and remittances by Saudis were SAR 70.4 billion, according to SAMA data reported by Saudi Gazette. source
Transactions on the sarie instant payment system grew from 176 million in 2021 to 437 million in 2023, while SARIE RTGS volumes rose from 167 million to 200 million over the same period. source
Non-cash payments made up 70% of consumer payments in 2023, against a target of 80% by 2030, and 96% of business payments were non-cash in 2023. source
SAMA said on 22 July 2026 that 33 licensed companies offer payment services in Saudi Arabia. source

Licensing: who can send money from Saudi Arabia

No person can operate a payment system or provide payment services in the Kingdom without a SAMA licence (Law of Payments and Payment Services, Royal Decree M/26, Article 4). source
The Implementing Regulations (13 June 2023) apply to anyone providing payment services from an establishment in the Kingdom, holding itself out as providing them there, or inviting, inducing or marketing to persons in the Kingdom. source
A Micro PI must not provide payment services cross-border to persons outside the Kingdom and must stay under an average monthly payment value of SAR 10 million; a provider above SAR 10 million a month is a Major PI (Article 42). Money remittance, where funds are received without a payment account being created, is listed among the services that do not constitute payment services (Article 7). source
Minimum paid-up equity is SAR 1 million for a Micro PI, SAR 3 million for a Major PI, SAR 2 million for a Micro EMI, SAR 10 million for a Major EMI, SAR 1 million for payment initiation and SAR 500,000 for account information services (Article 44). source
On an ongoing basis a Major PI holds the higher of its initial capital and 1% of its average monthly payment value, and a Major EMI the higher of its initial capital and 2% of average outstanding e-money (Article 45). source
A Micro EMI must keep each user to SAR 20,000 of e-money and SAR 20,000 of monthly transactions; a Major EMI must keep each user to SAR 100,000 of e-money and SAR 100,000 a month, unless SAMA raises the limits (Article 43). source
Under the Rules Regulating Money Changing Business, money transfers inside and outside the Kingdom are permitted only to holders of valid SAMA licences at the time the Rules were issued, and those licensees cannot open new branches for this activity (Article 11). source
Category A money exchange centres can send and receive domestic and international transfers through SWIFT and SARIE for members only, with individual clients limited to their monthly salary up to SAR 50,000 a month and SAR 500,000 a year, businessmen to SAR 500,000 a year and corporate clients to SAR 1,000,000 a year. source
A licensee must obtain a SAMA non-objection letter before contracting another person to carry out material functions relating to its payment services (Implementing Regulations). source

This page explains the rules in general terms and is not legal or regulatory advice. Check the primary source and take advice on how the rules apply to your firm.

Holding customer funds

A payment service provider must safeguard safeguarded funds immediately on receipt, by placing them in a separate account with a licensed bank or another method SAMA accepts (Implementing Regulations, Article 93(1)). source
If it still holds the funds at the end of the business day after the day of receipt, it must place them in a separate account at a licensed bank named "Deposit and Safeguard of Funds of a Payment Service Provider's Clients", or, with SAMA approval, invest them in secure liquid assets held in a separate account with an authorised custodian (Article 93(2)). source
The safeguarding account can hold only safeguarded funds, not fees or operating money, must be reconciled daily against payment transactions and outstanding e-money, and cannot be opened, closed, replaced or merged without a SAMA non-objection letter (Article 93(3)). source
No person other than the payment service provider can have any interest in the safeguarded funds, and the provider must return them to users in a bankruptcy, winding up or liquidation (Article 94). source
Money changers licensed to transfer money inside and outside the Kingdom must at all times keep full cover for outstanding remittances drawn on their headquarters or correspondents, so each remittance can be paid when the order is received. source

Collection and funding rails

Rail	Operator	What matters	Source
sarie (Instant Payment System)	Saudi Central Bank (SAMA)	Launched in 2021 for transfers of SAR 20,000 or less between local banks, processed instantly 24/7 all year, with aliases such as mobile number or national ID instead of IBAN and quick transfers of up to SAR 2,500 without adding a beneficiary.	source
SARIE (Saudi Arabian Riyal Interbank Express, RTGS)	Saudi Central Bank (SAMA)	High-value transactions above SAR 20,000 go through the RTGS system, where funds move within a few hours to a day depending on when the payment is initiated; RTGS volumes were 200 million transactions in 2023.	source

The send-side stack, layer by layer

A starting shortlist for each layer, described from each provider's own documentation. Confirm terms, coverage and licences with each provider.

Sponsor banks and safeguarding accounts

Provider	What it does	Source
Riyad Bank	Fintech partnership framework launched in 2022 that offers emerging fintechs customisable packages including digital wallets, transfers, remittances, cards, accounts and marketplaces, plus WSL, an open innovation platform where developers test applications against simulated banking connectivity tools (Riyad Bank Annual Report 2022).	source
alinma	alinma API Portal for businesses and technology partners, with APIs for account information, payments, transactions and authentication.	source

Collections and pay-ins

Provider	What it does	Source
Tap Payments	Payment institution licensed by the Saudi Central Bank with its own mada-certified gateway; accepts mada, international cards, wallets and instalment options and pays funds into the merchant's Saudi business bank account.	source
Geidea	Payment terminals and online payments for merchants; SAMA's register lists Geidea for Technology as a licensed payment institution.	source
HyperPay	E-payment gateway licensed by the Saudi Central Bank, offering payments, recurring payments, payouts and mada card pre-authorisation.	source

KYC and KYB providers

Provider	What it does	Source
Nafath (SDAIA)	National digital identity platform; SDAIA offers an API service that lets organisations verify their clients' digital identities through the Nafath app.	source
Wathq	APIs for official data such as commercial registration, real estate and power of attorney records.	source

Bank data and open banking

Provider	What it does	Source
Neotek	Al Rajhi group company that received the Kingdom's first final Open Banking licence from SAMA in March 2026; offers bank connectivity APIs, digital bank account statements, credit and solvency assessments and payment services through open banking.	source

When money can leave Saudi Arabia

Official working days for ministries, financial institutions, SAMA and the stock exchange are Sunday to Thursday, with Friday and Saturday as the weekly holiday (Royal Order of June 2013). source
Bank remittance centres work Sunday to Thursday from 9:30 a.m. to 5:30 p.m.; Friday is a weekly holiday and Saturday is an optional working day for branches with SAMA's no-objection. source
sarie runs 24/7 but only for transfers of SAR 20,000 or less; larger amounts go through SARIE RTGS and can take from a few hours to a day. source
For Eid al-Fitr 2027 financial institutions close from Sunday 7 to Thursday 11 March and SARIE RTGS from Monday 8 to Wednesday 10 March; for Eid al-Adha 2027 financial institutions close from Sunday 16 to Thursday 20 May and SARIE RTGS from Sunday 16 to Tuesday 18 May. source
National Day (23 September) and Founding Day (22 February) are holidays; if either falls on a Friday the holiday moves to Thursday, and if on a Saturday to Sunday. In 2027 Founding Day is a Monday and National Day a Thursday. source
During Ramadan SARIE RTGS runs from 10:00 a.m. to 4:00 p.m., and clearing houses follow the RTGS operating days and hours; bank remittance centres and payment service providers work six flexible hours between 9:30 a.m. and 5:30 p.m. source
SAMA keeps the riyal at the official rate of 3.75 to the US dollar, so the SAR to USD leg of a funding cycle carries little exchange rate risk. source

Corridors from here

Frequently asked questions

Which licence do I need to send payments from Saudi Arabia?

A SAMA licence under the Law of Payments and Payment Services covers payment services, but the Implementing Regulations list money remittance, where funds are received without a payment account, among services that are not payment services, and only money changers that held transfer licences when the money changing Rules were issued can transfer money abroad. A Micro PI cannot serve persons outside the Kingdom; a Major PI is one above SAR 10 million a month and needs at least SAR 3 million of paid-up equity.

Can a new money changer offer remittances?

No. Under the Rules Regulating Money Changing Business, only firms that held valid SAMA licences for transfers when the Rules were issued can transfer money inside and outside the Kingdom, and they cannot open new branches for this activity.

How must customer funds be safeguarded?

Immediately on receipt, in a separate account with a licensed bank or another SAMA-accepted method. Funds still held at the end of the business day after receipt go into a designated client account at a licensed bank that is reconciled daily.

How large can a sarie instant payment be?

Up to SAR 20,000, 24/7. Larger amounts go through SARIE RTGS, which moves funds within a few hours to a day.

Which days can I fund from Saudi Arabia?

Financial institutions and SAMA work Sunday to Thursday, with a Friday and Saturday weekend. SAMA publishes Eid closures in advance, and SARIE RTGS closes for fewer days than banks.

Sources

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