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Post by Keith317 on Mar 1, 2014 23:28:38 GMT
Sorry if this is a dumb question but I have not seen it answered elsewhere. The option to split your salary into local and overseas components is very good. This, of course, requires opening a KSA bank account.
Is this feasible, sensible or necessary to enable smooth domestic functioning? Or this there a local quirk/workaround?
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Post by Keith317 on Mar 1, 2014 23:31:23 GMT
To clarify - opening the local account as a joint account between myself and my wife (probably not incredibly clear from the above).
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Post by vpainter on Mar 28, 2014 22:04:44 GMT
Yes you can open a joint account and split your pay check to that account and one backhome.
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Post by longhorn on Mar 29, 2014 2:09:10 GMT
I visited my local HSBC branch in Canada to discuss global banking with them. If you have an account in Canada, US, UK , wherever... and open an account with SABB in Dammam you can link all of your accounts on one page online 'global view'. You can transfer money between the accounts and they can open an 'offshore' account for you in the caymans or jersey, etc if you wish. Transfers between personal accounts have no transfer fees up to 100K$ per day, there is a currency exchange fee. You need to keep a large balance with them for the service but can be invested.
This is really a far cry from my banking experience in the UAE ten years ago, very much more user friendly. Anyone using this service or signed up for it?
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