A Guide to Opening a Riyad Bank Account Online in 2023

Opening a bank account can be daunting, especially for new expats who are coming in Saudi Arabia. However, with the option to open a Riyad Bank online account, the process has become easier and more convenient than ever before. There are many banks in Saudi Arabia. However, Riyad Bank personal banking is a leading bank in Saudi Arabia, offering various financial services to individuals and businesses. With the ability to open an account in Riyad bank online, expats can now access various banking services from the comfort of their homes. From international transfers to foreign currency accounts and online bill payments, Riyad Bank’s online banking platform caters to the specific needs of expats. You can also receive Riyad bank online account update on Riyad Bank official app.

Riyad Bank Online Account Opening – The guide for 2023

This blog post aims to provide a comprehensive guide on how to open a Riyad Bank account online in 2023, including the benefits of online banking, requirements for opening an account, a step-by-step guide, and tips for a successful online account opening process. Whether new to Saudi Arabia or looking to switch banks, opening an account with Riyad Bank online is a quick and easy solution that will save you time and effort.

Read More: Requirements and Guidelines for Al Mubasher Al Rajhi Bank?

01 – PROBLEMS FACED BY EXPATS WHEN OPENING BANK ACCOUNTS

As an expat in Saudi Arabia, opening a traditional bank account can be difficult due to language barriers, residency permit requirements, and time-consuming processes. Many banks use Arabic as their primary language, which can be confusing for non-Arabic speakers. Without a residency permit, expats may be unable to open an account. In-person transactions and complex paperwork can also be frustrating.

02 – BENEFITS OF OPENING A RIYAD BANK ONLINE ACCOUNT UPDATE

As an expat living in Saudi Arabia, opening a traditional bank account can be challenging. Riyad Bank’s online account opening offers a convenient solution, allowing you to open an account from anywhere and at any time, with access to various services, including fund transfers, bill payments, and account statements.

With enhanced security measures and competitive interest rates, Riyad Bank’s online banking is an attractive option for those looking to manage their finances efficiently. Additionally, 24/7 customer support is available to ensure a seamless banking experience for expats.

03. REQUIREMENTS TO OPEN A RIYAD BANK ONLINE ACCOUNT

To open a Riyad Bank account online as an expat, there are a few conditions that you must meet. The requirements may vary based on your residency status, employment status, and the type of account you want to open. Here are the general conditions for opening a Riyad Bank account online as an expat:

1. Valid Residency Permit: To open an account in Saudi Arabia, you need a valid residency permit (Iqama). As an expat, you must ensure that your Iqama is valid and not expired. This documentation is necessary to verify the customer’s identity and ensure that they are eligible to open a bank account.
2. Age: You must be at least 18 to open a Saudi Arabia bank account.
3. Employment Status: You need to have a valid employment contract or a letter of introduction from your employer stating your position, salary, and length of employment. This information is necessary to assess the customer’s financial position and to determine their eligibility for certain banking services.
4. Type of Account: Riyad Bank personal banking offers different types of accounts for different purposes. You must choose the account that suits your needs and meets the bank’s requirements.
5. Personal Information: You must provide personal information such as your full name, address, phone number, and email address. You must also provide a valid identification document such as a passport or national ID card.

04 – STEP BY STEP GUIDE ON HOW TO OPEN A RIYAD BANK ACCOUNT ONLINE IN 2023

Here is a detailed guide on how to open a Riyad Bank account online:

STEP 1: VISIT THE Riyad BANK WEBSITE

To begin the process, visit the Riyad Bank website. Click on the “Open an Account” button on the homepage.

STEP 2: CHOOSE THE ACCOUNT TYPE.

Next, choose the type of account you would like to open. Riyad Bank offers several types of accounts, including current, savings, and investment accounts. Review each account type’s features and fees to determine which is best suited for your needs.

ACCOUNT TYPE	FEATURES	FEES	REQUIREMENTS
Current Account	Allows you to manage your daily transactions efficiently and securely. Provides you with a Debit Card and the ability to perform online transactions.	Monthly account fee of SAR 25	1.  Valid National ID 2.  Iqama Or Passport 3.  Proof Of Address
Savings Account	Earns you competitive profit rates and allows you to save your money securely. You can manage your account online and receive SMS notifications.	No monthly account fee	1.  Valid National ID2.  Iqama Or Passport3.  Proof Of Address
Time Deposit Account	Allows you to earn higher returns on your investment with flexible tenures ranging from 1 week to 5 years.	Varies based on deposit amount and tenure	1.  Valid National ID2.  Iqama Or Passport3.  Proof Of Address4.  Minimum Deposit Amount
Investment Account	Provides you with Shariah-compliant investment opportunities with flexible tenures ranging from 1 week to 5 years.	Varies based on investment amount and tenure	1.  Valid National ID2.  Iqama Or Passport3.  Proof Of Address4.  Minimum Investment Amount
Credit Card	offers exclusive benefits and rewards, such as cashback, discounts, and loyalty points. Allows you to manage your credit card online and set spending limits.	The annual fee ranges from SAR 100 to SAR 1,500	1.  Valid National ID2.  Iqama Or Passport3.  Proof Of Income4.  Credit History

STEP 3: REVIEW THE ELIGIBILITY CRITERIA

Before proceeding, review the eligibility criteria for your chosen account type. Each account has specific requirements that must get met to be eligible for the account. Make sure you meet the requirements before proceeding.

STEP 4: FILL OUT THE APPLICATION FORM

After verifying your eligibility, you will get directed to an online application form. Here, you will be required to provide your personal information, including your full name, date of birth, nationality, and contact details.

You will also need to select the type of account you wish to open, whether it is a current, savings, or credit card account. Be sure to choose the account that best suits your needs.

Additionally, you will get asked to provide some financial information, such as your employment status, monthly income, and source of income. You may also need to upload some supporting documents, such as a copy of your passport or residence permit, proof of address, and proof of income.

Requirements	Information Needed	Example
SAUDI IQAMA	Iqama Number	1234567890
ABSHER REGISTRATION	Absher Username Password	Username: Expatsinsaudia Password: ********
NATIONAL ADDRESS REGISTRATION	City District Name Street Name Building Number Postal Code Additional Number Type Of Residence	City: Riyad District Name: Al Olaya Street Name: King Fahd Road Building Number: 123 Postal Code: 12345 Additional Number: 2 Type of Residence: Apartment
PERSONAL INFORMATION	Place of Birth Marital Status. Number of Dependents Educational Level	Place of Birth: Jeddah Marital Status: Married Number of Dependents: 2 Educational Level: Bachelor’s Degree
EMPLOYMENT INFORMATION	Employer Name Location Start Date Occupation Salary Income Frequency	Employer Name: Expatsinsaudia CompanyLocation: Riyad Start Date: 01/01/2022 Occupation: Engineer Salary: SAR 10,000 Income Frequency: Monthly
CONTACT INFORMATION	Primary phone numbersecondary phone numberEmail address	Primary Phone Number: +966 500 123 4567 Secondary #: +966 500 765 4321 Email Address: [email protected]

STEP 5: UPLOAD THE REQUIRED DOCUMENTS

Along with the application form, you must upload several documents to verify your identity and address. These documents may include a copy of your passport, residency permit, and utility bill.

STEP 6: REVIEW AND SUBMIT THE APPLICATION

Once you have completed the application form and uploaded the required documents, review your information to ensure accuracy. Once satisfied, click the “Submit” button to complete the application process.

STEP 7: WAIT FOR VERIFICATION

After submitting your application, it will get reviewed by a Riyad Bank representative. They may contact you to verify your information or request additional documents. Once your application is approved, you will receive an email with your account details and instructions on how to access your account online.

05 – STEP BY STEP GUIDE ON HOW TO APPLY RIYAD BANK ATM CARD ONLINE, 2023 UPDATE

Below, we have provided a complete guide on how to Riyad Bank ATM card apply online and activate it:

1. Start by visiting Riyad Bank’s official website
2. Once you have landed on the ATM card page, click the “Apply now” button.
3. Fill out the application form with the required details, such as your personal information, contact details, and other relevant information.
4. Choose the type of account that you want your ATM card to get linked to. Riyad Bank offers a range of accounts, including current, savings, and investment accounts.
5. After filling out the application form, review all the details and ensure they are accurate. Once satisfied with the details, click the “Submit” button to send your application to Riyad Bank.
6. After submitting your application, you will receive a verification message from Riyad Bank. The message will contain information on how to complete the verification process.
7. Once your application has been approved, you will receive your ATM card by mail to the address you provided during the application process.
8. Upon receiving your ATM card, you must activate it before using it for any transactions. You can activate your ATM card by calling Riyad Bank’s customer service hotline or by visiting a Riyad Bank branch near you. You will need to provide your personal details and the card number to activate the card.

06 – Tips from our Personal Experience

Opening a Riyad Bank account online can be straightforward if you follow the instructions carefully. However, to ensure a smooth account opening process, here are some tips to keep in mind:

1. Check your eligibility: Before starting the account opening process, ensure you meet the eligibility criteria for opening a Riyad Bank account online. As an expat, you must have a valid residency permit and a valid Saudi mobile number to receive an OTP for verification purposes.
2. Ensure accuracy of information: Ensure you provide accurate and up-to-date information while filling out the application form. Any incorrect or incomplete information can delay or reject your application.
3. Follow instructions carefully: Pay close attention to the instructions on each application page. Ensure you have filled out all the required fields correctly, and don’t skip any steps or pages.
4. Monitor your application status: After submitting your application, you can monitor its status through the online portal or mobile app. You will get notified through the same channels if any issues or additional documentation are required.
5. Contact customer support if needed: If you encounter any issues or have questions during the account opening process, don’t hesitate to contact Riyad Bank customer support through the online chat or phone. They can guide you through the process or provide further assistance if needed.

07 – CONCLUSION

Opening a Riyad Bank account online in 2023 is quick and easy, offering numerous benefits such as convenience, time-saving, accessibility, security, and cost savings.

By following the step-by-step guide and tips provided in this article, you can ensure a successful online account opening process.

Take advantage of Riyad Bank’s online banking services and open a bank account online today to manage your finances more efficiently.

For more information on Riyad Bank and online banking in Saudi Arabia, visit the Riyad Bank website or contact their customer service team.

08 – Frequently Asked Questions

Question 01: What should I do if I encounter any issues while opening or using my Riyad Bank online account?

You can contact the bank’s customer service through the following channels:

1. Phone: You can call the Riyad Bank customer service center at 920002470 from within Saudi Arabia or at +966112800780 if you are calling from outside the country.
2. Email: You can email the bank’s customer service team at [email protected]. 
3. Online form: You can fill out the online form available on the Riyad Bank website at https://www.riyadbank.com/en/contact-us.

When you contact the customer service team, make sure to provide them with as much information as possible about the issue you are facing. It will help them to assist you in resolving the issue quickly and efficiently.

Question 02: What minimum deposit is required to open a Riyad Bank online account?

The minimum deposit required to open a Riyad Bank online account may vary depending on your account type. It is important to check the specific requirements for the account you want to open before proceeding with the account opening process.

Question 03: Is it necessary to have a residency permit to open a Riyad Bank online account?

Yes, as an expat, you must have a valid residency permit (Iqama) to open a bank account in Saudi Arabia, including a Riyad Bank online account.

Question 04: How long does opening a Riyad Bank online account take?

The process of opening a Riyad Bank online account is quick and can get completed within a few minutes. However, it may take a few days for the account to be fully activated and for you to start using all the banking services.

Question 05: Can I access my Riyad Bank online account from my mobile device?

Yes, Riyad Bank’s online banking platform is accessible from both computers and mobile devices. You can download the Riyad Bank mobile app from your app store to access your account on your mobile device.

Question 06: Are my online transactions secure with Riyad Bank?

Yes, Riyad Bank takes the security of its online banking platform seriously. It employs advanced security measures such as two-factor authentication, encryption, and monitoring systems to protect your account from fraud and unauthorized access.

Question 07: Can I use my Riyad Bank online account for international transactions?

Yes, you can use your Riyad Bank online account for international transactions such as money transfers and foreign currency accounts. However, additional fees and requirements may apply depending on the specific transaction and destination country. It is important to check with the bank for more information before proceeding with any international transactions.