Thursday, October 9, 2025
SAMA Issues New Bank Account Rules for Expats and Visitors in the Kingdom
The Saudi Central Bank (SAMA) has announced new guidelines for local banks on opening bank accounts for expatriates and visitors in Saudi Arabia.
According to the new rules, banks can open accounts for expatriates who hold Saudi passports only after getting approval from the Ministry of Interior through SAMA. Recommend: Saudi Scientist wins 2025 Nobel Prize in Chemistry
Rules for Opening Accounts with Visitor ID
SAMA has also updated the rules for adding a Visitor ID when opening a bank account.
All banks must now create an electronic record for every non-Saudi resident (natural person). This record must include:
➤ Full name (as written in the passport, residency permit “iqama,” or visitor ID)—listed in this order of language priority: Arabic, English, or Latin.
➤ If the name is in another language or alphabet, it should match the spelling on the entry visa issued by Saudi embassies or consulates.
➤ Nationality of the person.
➤ Iqama or Visitor ID number and its expiration date.
➤ National address (for expatriates) or residential address in Saudi Arabia and country of origin (for visitors).
➤ Contact information, such as your phone number or email.
➤ Employer information, if applicable.
For people with five-year residency cards (issued to some tribal members), banks must record the full name, residency card number, and expiry date. Trending: Saudi Arabia approves Visitor ID for opening bank accounts
Approval of Visitor ID for Bank Accounts
SAMA has confirmed that the Visitor ID, issued by the Ministry of Interior, is now an official identification document for visitors in Saudi Arabia.
You can use this ID to open a bank account, as long as you follow the bank's regulations for doing so. You can also verify the Visitor ID on approved digital channels.
Rules for Freezing or Closing Accounts
SAMA requires banks to close expatriate bank accounts once the expatriate leaves Saudi Arabia for beneficial reasons.
Banks must also freeze any account when the holder’s ID card expires.
This applies to:
🔹 GCC citizens using their national ID cards,
🔹 Expatriates using their residency permits (iqama) or visitor ID cards, and
🔹 Diplomats using diplomatic cards.
Summary
The Saudi Central Bank's new policies are meant to make it safer, more accurate, and better regulated for expats and visitors in Saudi Arabia to operate their bank accounts. These measures ensure that only verified people can open or keep accounts and that all ID documents are real and can be tracked digitally. Follow Saudi Expatriates on Facebook for the latest updates
 |
| SAMA Issues New Bank Account Rules for Expats and Visitors in the Kingdom |
