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Post by bigfella on Jan 21, 2015 15:02:24 GMT
hi , i am coming over to Ras tanura in Feb to work in the training school . will be paid in dollars, wondered about the banking arrangements . have looked and there is a SAAB bank in RT Which is part of the HSBC Group . was thinking of opening an HSBC account in England and opening an account at the SAAB bank in RT . Is a ordinary current HSBC account ok to use to transer wages back home ? is there any charges ? exchange rate charges etc? Is this the best way about going about things ? any tips would be most welcome
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Post by bigfella on Jan 22, 2015 16:16:00 GMT
OK, i ve found out that the wages will be paid in a Saudi bank and i pay a small fee to transfer back home . The exchange rate is the international rate not the tourist holiday one which is better. Done a bit of research and theres a SAAB bank in RT which is part of the HSBC group , so am thinking about opening a HSBC bank account in England and transfers should be free . If i m incorrect or if there s a better way , please feel free to comment .
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Post by james_unlimited on Feb 22, 2015 16:18:13 GMT
bigfella,
SABB charge you a small amount usually 40SAR to transfer it back to the UK. It doesn't matter if you have a HSBC account. HSBC does own 40% of SABB.
You also pay their rate, but if your putting more than 40k SAR in a month you can get a premier account and get a better rates. (also gets you into the lounges at the airports :wink: )
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Post by iosman on May 12, 2015 7:25:45 GMT
o, I am a recent hire American SMP. I was wondering what is the best bank for Americans with regards to money transfers to the USA.
I have looked into SAMBA so far but can't find the details on transfer fees and exchange rates.
Thanks,
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Post by james_unlimited on Feb 20, 2016 8:39:33 GMT
iosman,
NCB
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Post by ToesInTheSand on Feb 22, 2016 1:50:44 GMT
I use SABB premier account. Fees are negligible.
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Post by james_unlimited on Feb 22, 2016 3:40:50 GMT
ToesInTheSand,
Im the same, but all the Yanks (Armcon's) use NCB ... could be just because there is a branch in camp :roll:
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