How It Works
How RiyalRate.com works
- Choose your destination country using the country tabs at the top of the rates page (India, Pakistan, Bangladesh, Nepal or Philippines).
- Read the rate table. Each row is a remittance center. The rate shows how much of your home currency you receive for every 1 Saudi Riyal. Rows are sorted from the highest rate to the lowest, and the “Updated” column shows how recently each rate was reported.
- Use the calculator. Type an amount and a new column appears showing what each center would give the recipient. Tap the switch to reverse it and see how many Riyals you would need to send to reach a specific amount at home.
- Report a rate. If you have seen a different rate recently, click “Update new rate” next to that center and submit it. Reports are reviewed before the displayed rates are updated.
Rates are user-reported and indicative only. Always confirm the exact rate and fees inside the provider’s own app or branch before you confirm a transfer.
How to compare remittance rates properly
The headline rate is only one part of what you actually pay. Before choosing a remittance center, look at the whole picture:
1. The exchange rate
This is the number RiyalRate.com shows. A higher rate means the recipient gets more in their local currency for each Riyal you send. Differences of even a few paisa or fils per Riyal become significant on larger transfers or when you send every month.
2. Transfer fees
Some centers advertise a strong rate but charge a fixed service fee, while others have a lower rate with no fee. Add any fee to your Riyal amount when you compare, so you are looking at the total cost of the transfer, not just the rate.
3. Transfer speed and delivery method
Money can arrive in a bank account, a mobile wallet or as cash pickup, and timing can range from a few minutes to a couple of working days. A slightly lower rate may be worth it if the money arrives when your family needs it.
4. Limits and requirements
Providers set minimum and maximum amounts per transfer and per month, and you will normally need to verify your identity with your Iqama or other valid ID. Check that the limits suit the amount you plan to send.
5. Whether the provider is licensed
Only use remittance providers that are licensed and supervised in Saudi Arabia. The Saudi Central Bank (SAMA) licenses and supervises money transfer services in the Kingdom. If an offer looks too good to be true, or comes from an unofficial agent, be cautious.
Steps to send money from Saudi Arabia
- Compare current rates for your country on RiyalRate.com and shortlist two or three centers.
- Open each provider’s app or website and check the live rate and any fees for your exact amount.
- Register or sign in and complete identity verification if you have not already.
- Enter the recipient’s details carefully — name, account or wallet number and bank — exactly as they appear on their account.
- Review the final rate, fees and amount the recipient will receive, then confirm and pay.
- Keep your transfer reference number until the recipient confirms the money has arrived.
Tips to get more for your money
- Check rates just before you send — rates can change several times a day.
- Compare at least two or three centers for the amount you actually plan to send.
- Watch for promotional offers, but read the conditions carefully.
- Never share your one-time passwords or app PINs with anyone, including anyone claiming to be from a remittance company.
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