Banking Information

Only those teachers with an Iqama will be able to open bank accounts.

Teachers on Work visit Visas should go to the “Transfer Money” section below.

FYI – Shabaka is in no way responsible for the mental anguish you will go through trying to set up a bank account or transferring money. We will provide you with as much information as we can, but the legwork must be done by the teachers.

Iqama Bank accounts

Once you have been issued with your Iqama, you can apply for a bank account.

Use the local bank, situated just a few minutes away from the compound (map).

Shabaka iqama holders usually open an account with Riyad Bank (5-10 min walk from the compound).

A photocopy of your Iqama should be enough. You will also need the address of the Saadoun travel agency and have a mobile number.

Saadoon Travel Agency

Prince Abdulla Bin Jalawi Street

P.O. BOX 10396

Al Mubarraz, Al Ahsa

Kingdom of Saudi Arabia

31982

After they have your details they will send them to head office and create an account.

You will have to return to the bank to activate your account, and collect your ATM card.

Once you have your account set up you will receive a direct salary payment on the 5th of every month.

It is possible to apply for credit cards, however they are not always accepted worldwide.

It is highly advisable to set up internet banking. You will need to see a representative who will set it up for you.

It is possible to transfer money worldwide through internet banking.

Note: You will need to go in to renew your bank account each year or at the end of the expiry of your Iqama. If you don’t, you will find that your bank account may be frozen until you do.

Once you have an account and internet banking, you shouldn’t have to step into a bank again (until your cards expire).

Adding Credit to your Phone and Internet Account Using Riyad Bank Sadad service:

LINK

Please see the presentation below for information on this.

Transferring money

Transfer banks will mainly be used by people with business visas.

However, people with Iqamas may need to transfer money a few times before they get their Internet banking set up.

Transfer banks can be found on our map.

The first time you go there you will need to set up an account (passport for business visas, copy of Iqama for Iqamas).

Make sure you don’t line up at the Transfer window or you will waste your time. You need to see someone in the office area first.

You will be issued with a blue transfer card (you will need to bring this with you every time), which will only be valid for the length of your visa.

FYI – Business Visa guys will need to sign up for a new account every three months or so when your visa expires.

Once you have the account you will need to provide the following information:

Name of the account holder

Account Number

Address of the branch (sometimes you can get away with just having the name of the country)

Name of the bank

Swiftcode of the branch where you started the account.

Make sure you don’t try to give this information at the transfer window or you will waste your time. Someone will need to link the bank account to your transfer account first. You can link up any number of bank accounts.

After this has been done you can join the transfer line, and start transferring money.

FYI – There is a transfer fee of 75 Riyals (about 20 Dollars).