Send Money from Canada to Saib Bank in Saudi Arabia

Saib Bank, Saudi Arabia

In March 1977, the bank began operations in accordance with Royal Decree No. 82 of 1995. The Saudi Investment Bank (SAIB) was formed as a joint-stock company. The Saudi Investment Bank has three sister companies: American Express, Saudi Orix Leasing, and Amlak Global Finance and Real Estate Development. As of 2019, the bank operates 52 branches, including 10 ladies branches located throughout Saudi Arabia. The Saudi Investment Bank engages in trade finance, which also includes financing for quasi-governmental and industrial sectors. By implementing its (Asala) program, the bank is able to offer Sharia-compliant products and services.

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How to Send Money to Saudi Arabia with Saib Bank

Transfer money to accounts at Saib Bank in Saudi Arabia in just 5 easy steps!

  • Register for a Remitbee account. The Remitbee Wallet is secure and free to access.

  • Complete your profile with your full name, address, and occupation. Ensure your phone number and email address are correct.

  • We'd like to know more about your recipient. We need their bank account information, including bank name and account number.

  • Check the CAD to SAR conversion rate. Enter the amount you wish to transfer, select your payment method, and confirm your remittance once the exchange rate between CAD and SAR is acceptable. The conversion rates change on a daily basis, but the fixed amounts are set for each payment method.

  • You'll receive a notification when your transfer has been received! Remitbee's app allows you to track its progress.

Why send money directly to Saib Bank?

Remitbee's direct sending and online banking services come with many benefits. Here’s a quick overview:

  • Spend less time in traffic! No need to make a trip to the bank or cash pick-up center

  • Transferring funds securely from one account to another

  • Funds are easily accessible by recipients

  • Transfers of 500 dollars and over are free

What is the information you need to complete the transfer?

You will need these details to process a transfer through Remitbee.

  • Recipient’s names, as they appear on the bank accounts

  • Recipient’s Address – that is on the bank account

  • ACH Routing Number - to confirm account identity

  • Account Number – This ensures it gets to your recipient’s account.

How Remitbee calculates the CAD to SAR Exchange Rate

We are upfront about any fees, and you can see them in the application before you send money to Saudi Arabia. Exchange rates are assessed based on daily market rates, we offer some of the most competitive rates available. Low fees based on payment method differ but Remitbee Wallet is a free funding method.

Send money to all major Banks in Saudi Arabia

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Frequently Asked Questions

You can choose to pay using Interac e-Transfer, Interac Online, Bill payment, Electronic Funds Transfer or Visa or Mastercard Debit.

Direct bank account transfers. The transfers typically take between 1 and 2 days, but some transfers happen instantly.

If you verify your identity on our platform, you can send up to 9,000 CAD per day, with a maximum of 50,000 CAD per month.

The CAD to SAR exchange rate is currently 1 CAD for {{SAR}} SAR. This changes daily.

Yes! Earn 50$+ for every 3 successful referrals

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