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Many expats have been going on final exit and others don’t want to keep their savings here. Do you know the money transfer limit from Saudi Arabia to India, Pakistan, and other countries through NCB Quick pay, Al Rajhi, Enjaz, or Telemoney?
Transfer limit on White Money
There is no money transfer limit or maximum amount you can transfer from Saudi Arabia to India, Pakistan, or any other country as long as you have “white money” and it is sent through a legal banking channel.
White money pertains to the money earned from legal business activity. For example, if you are working as an employee and earning a salary of SR 10,000/month and you have worked in Saudi Arabia for 12 months, SR 120,000 is the white money.
Transfer Limit on Black Money
A problem arises with those businessmen who have been conducting business in Saudi Arabia in the name of some sponsors. These businessmen actually own the business but legally sponsor is the owner of the business.
Just to fulfill the requirements of the Jawazat and Labor office, they sign a contract that they are employees and have been receiving a minimal amount as salary e.g. SR 10,000/month.
Let’s say, a businessman is earning SR 100,000/month and wants to transfer this money from his bank account to his home country. As we have seen in the above example, his money transfer limit, or the maximum amount you can transfer from Saudi Arabia cannot be more than 10,000/month.
If he tries to transfer money of more than 10,000 a month, he will be soon detected and caught by authorities since his total legal income is only SR 10,000, how can he transfer SR 100,000 per month?
How to send money without an iqama?
People who do not have Iqama or those whose Iqama has expired look for information and different tricks to send money without an Iqama. Most of the people who do not have Iqama use the Hawala system to transfer money but it is a very risky business.
Daily money transfer limit of Banks
As we have mentioned earlier, there is no limit to transferring money to your country by government authorities. However, banks have imposed some limits to reduce risk related to mishandling or unauthorized transactions.
- Tahweel Al Rajhi money transfer limit: SR 20,000/day
- NCB quick pay maximum transfer amount: SR 100,000/month
- SNB Al Ahli Bank money transfer limit: SR 1,000,000/day.
- Al Rajhi Bank international money transfer limit: SR 75,000/day.
- Riyad Bank Remittance Limit from Saudi Arabia: SR 250,000 per day
- Fawri money transfer limit: SR 20,000/day.
- Enjaz money transfer limit: SR 20,000/day.
- FriendiPay money transfer limit: SR 20,000/day.
- STCPay money transfer limit: SR 20,000/day.
- UrPay money transfer limit: SR 20,000/day.
- Telemoney money transfer limit: SR 20,000 per day
It should be noted that if you visit the branch office of any bank along with your Iqama, they will allow you to transfer as much money as you want from your bank account. But it is always better to transfer money in small trenches e.g. SR 50,000 per day. Recommended: How much gold and cash I can carry from Saudi Arabia?