In this article, you'll discover whether Revolut works in Saudi Arabia, explore some potential drawbacks if it is available, and consider the possibilities for using Revolut's services in the region.
Does Revolut Work In Saudi Arabia?
Revolut does not operate directly in Saudi Arabia. While users can send money to Saudi Arabia, the full range of Revolut's services, such as spending and rewards, card options, and investments, are not available within the country.
For travelers from the UK, Revolut offers a Saudi Arabian Riyal currency card. This card allows users to spend in Saudi Arabian Riyals and make ATM withdrawals, but it is primarily designed for those visiting rather than residents of Saudi Arabia.
Fees and Charges for Using Revolut in Saudi Arabia
Here are some general costs that users might encounter when using Revolut in Saudi Arabia:
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM withdrawal fees: A maximum of 5 ATM withdrawals a month and up to £200 per rolling month are free. Anything over these limits is charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- Transaction fees: No specific transaction fees for spending in Saudi Arabian Riyals, but general currency exchange fees and ATM withdrawal fees apply.
- Currency conversion fees: If withdrawing from an ATM in a currency not held in the wallet, a conversion fee will apply.
- Additional fees: Potential additional fees charged by ATM providers that Revolut cannot prevent.
Is Revolut the Best Option in Saudi Arabia?
Even if Revolut is available in Saudi Arabia, it might not be the best option for users due to several limitations and restrictions that could impact the overall user experience.
- Limited service availability: Full range of services not accessible to residents.
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM withdrawal fees: Charges apply after exceeding free withdrawal limits.
- Additional ATM fees: Potential extra fees from ATM providers.
- Regulatory compliance: Adherence to UK regulations may not cover local nuances.
Alternatives to Revolut in Saudi Arabia
1) OneSafe
OneSafe is a leading alternative payment solution in Saudi Arabia, offering ease of use, lower fees, and superior customer support. With features like simple onboarding, global payments, and multi-currency support, OneSafe stands out as a modern, efficient, and secure option for businesses operating in both traditional and Web3 financial services.
OneSafe Reviews
Users have praised OneSafe for its comprehensive services, including ACH, Crypto, Wire deposits, and Virtual cards, noting that it supports most businesses effectively. The general sentiment highlights gratitude for the ease of use and superior customer support.
2) Wise
Wise offers a multi-currency account, international money transfers, and a debit card, making it a practical alternative payment solution in Saudi Arabia. Key benefits include cost savings on transfers, no hidden fees, and robust security measures. Wise's global reach and efficient services cater to both personal and business needs.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 86 reviews. Users have reported issues with money transfers being returned without notification and challenges with document approval processes.
Check out more Wise reviews here.
3) Paypal
PayPal offers a secure and convenient payment solution in Saudi Arabia, featuring 24/7 fraud monitoring, Buyer Protection, and the ability to send and receive money globally. Its support for online shops and customizable payment solutions make it a versatile option for both personal and business transactions.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5. Users have reported high transaction fees and occasional delays in dispute resolution processes.
Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Saudi Arabia
Can I open a Revolut account in Saudi Arabia?
No, Revolut does not currently support account openings for residents of Saudi Arabia.
Can I use my Revolut card in Saudi Arabia?
Yes, you can use your Revolut card for transactions and ATM withdrawals in Saudi Arabia.
Are there any fees for using Revolut in Saudi Arabia?
Yes, fees include currency exchange, ATM withdrawal fees, and potential additional ATM provider fees.
Does Revolut offer customer support in Saudi Arabia?
Revolut provides customer support online, but there is no dedicated support for Saudi Arabia.
Can I send money to Saudi Arabia using Revolut?
Yes, you can send money to Saudi Arabia, but fees and exchange rates apply.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Saudi Arabia is crucial for seamless financial transactions. While Revolut has limitations, OneSafe offers a comprehensive alternative with lower fees and superior support. Explore OneSafe for a modern, efficient, and secure payment experience. Sign up today to get started!
