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Digital money transfer specialists will almost always be cheaper than your bank for converting Australian dollars into Saudi Arabian riyals. Skip your local bank, if possible, and rely on specialists to better fit your budget, desired turnaround time and other money transfer needs.
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Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Saudi Arabia. PayPal, banks and other options are available but come with high fees, weak rates and long turnaround times.
Companies like OFX and TorFX specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient's bank account, often in as little as a day or two.
Services like MoneyGram allow you to transfer cash for pickup at a local branch in Saudi Arabia — often in 15 minutes. While it's a fast way to send money, you'll pay for the convenience in weak exchange rates and high fees. If a cash pickup is necessary, look to digital services like WorldRemit or Remitly when possible.
Saudi Arabian riyals aren't a popular currency, which means some banks may not offer them. If your bank supports riyals, beware of high fees and wide margins on the exchange rate compared to digital and other options.
Let's say you need to send $1,000 to family in Saudi Arabia. Here's what you might face as far as fees and exchange rates on two different money transfer services.
| Money transfer company 1 | Money transfer company 2 | |
|---|---|---|
| Fee | $10 | $10 |
| Exchange rate | 1 AUD = 2.6298 SAR | 1 AUD = 2.5501 SAR |
| Transfer speed | 1-3 days | 1-3 days |
| Amount received | SAR 2,629.80 | SAR 2,550.10 |
| Verdict |
|
|
By comparing money transfer companies, your recipient ends up with SAR 79.70 more on an equally fast and safe money transfer.
Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Saudi Arabia to meet your needs:
When you need to get money to Saudi Arabia in an emergency, there are options to have the money ready for pickup in minutes. This involves paying with a credit or debit card and transferring to a cash pick-up location. While it is fast, there'll be more fees involved.
Cash transfer services can also help you out if either you or your recipient is unbanked. If you don't have a bank account, look for transfer services that have agent locations so you can go in and pay in cash. These cash transfer services will also have agent locations in other countries where your recipient can pick up the cash, without needing a bank account.
The exchange rate determines how much one country's currency is worth in another country's currency. When a country's currency is strong, it yields more money when exchanging it in a country with a weaker currency. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Saudi Arabian riyal trades against the Australian dollar in our historical rate chart.
To send money to Saudi Arabia from the Australia, you'll need government-issued ID and other documents, while documents needed to pick up money in Saudi Arabia may be different by company.
To send money:
To pick up money in person:
Sending your hard earned money to Saudi Arabia, whether to support your family, invest in a new business or something else entirely shouldn't cost a fortune. Now that you know how to send money to Saudi Arabia, be sure to use our country specific guides on how to send money around the world the next time you need to make a transfer.
