Procedure to transfer Money back home through Telemoney Exchange

Expatriates need to transfer money to their countries every now and then. Telemoney is a good service that expatriates can use to transfer money to their loved ones at their home. Let us brief you about this helpful service. Arab National bank is a leading service provider when it comes to Money Transfer. 

Telemoney is the service provided by ANB, it gives a variety of options to the customers to perform money transfer in simple and most convenient ways.  People can use an automated system for money transfers and they can also visit 96 Telemoney centers situated across the Kingdom.

Telemoney is a convenient, speedy and user-friendly service with an accuracy of work. This service gives the ease of transferring by exchanging Saudi Riyal to several other currencies.

Registration with Telemoney:

Expatriates who want to use this service have to go through an easy process of registration with Telemoney. They just need to visit the Telemoney center and provide their Iqama’s copy and a few other details.

Add Beneficiary Bank Account

After a customer is registered with Telemoney, he can add beneficiary accounts. The beneficiary account means an account of the person in their native country. Telemoney provides the ease of registering 15 beneficiary accounts.

Transferring Money

The process of transferring money through Telemoney is also very much easy; one can transfer money through an online interface. It can also be done by visiting the nearest Telemoney branch.

The customer has to approach the teller counter at the branch and has to tell the Iqama number and have to inform the teller about the beneficiary account previously added to his profile.

Transaction

Teller person enters iqama details and the amount given by the customer, he selects the beneficiary account told by the customer and transfers money. After completion of this transaction process, a detailed receipt is handed to the customer.

Service Charges and Delivery time

Service charges are nominal and they depend upon the service chosen by the person who is sending money. It takes 15 minutes up to 72 hours and the money is transferred to the beneficiary account. Normally the service charge is 16 SR and it takes 24 hours at max on the weekdays (working days).

Transfer to India

It takes 24 hours to transfer money to the following banks in India. HDFC Bank, Federal Bank, ICICI Bank, Punjab National Bank, State Bank of India, Axis Bank, South

Transfer to Pakistan

The credited amount in the accounts of following banks of Pakistan is received in 24 hours. National Bank of Pakistan, Muslim Commercial Bank, UBL, HBL, Allied Bank.

Transfer to the Philippines

If money is credited to any of the following banks in the Philippines it will be transferred within 24 Hours. Rizal Commercial Bank Corporation (RCBC), BPInoy (BPI), Metro Bank, Philippine National Bank, BDO, China Bank (CBC), Bank of Commerce (BOC).