|
|
Post by bogiefrommuskogee on Jun 20, 2015 3:51:50 GMT
Qatari Riyals will not be accepted as easily as BD. They might be accepted by some. Once you get here, you are better off exchanging them either at NCB or American Express. Both are in Al Mujamma but one might have a better rate than the other. Neither one charges a very high spread like American and European banks do. BD is common because there is so much travel across the causeway. Even so, you get hosed on the exchange rate in both countries. Better to spend BD in Bahrain and SAR in Saudi. You will save about 10%. Even the taxi drivers will short you. If you plan to bring cash, I believe it is better to exchange your USD to SAR here than buying Riyals in the USA. You will get a much better exchange rate here.
I arrived during Ramadan and it took 6 weeks to get my iqama. I don't think that is normal and usually it comes faster than that. The government has become more computerized these days. But until you get your iqama and then your multi exit/reentry visa, there is very little you can do. Travel is out of the question. If you have a US drivers license, you can easily get a Saudi license in about a day. If your US license has a motorcycle endorsement and you plan to buy a bike here, make sure that you get a motorcycle license too. It won't be automatically done.
Once you have your Saudi license, you can enroll in Aramco's driving course. Passing that you can drive company vehicles and apply for U-Drive privileges. The course might take some time to get enrolled in as there are a lot of new people coming in all the time. It might take a couple of months unless your supervisor can push it faster.
After you get the iqama and Saudi license, you can buy a car if you like. It is not a simple task to open a local bank account without an iqama but, with HR's help, it can be done. It might take the better part of a day to do it as happened with a guy we recently hired. I suggest you bring a few thousand in cash to get through the iqama period. Everything here takes a little longer than you might be used to but it eventually happens. Aramco will let you split your salary payment into two banks if you like. I have part going to the US and part to a Saudi bank. Direct deposit into a Saudi bank give you the very best exchange rate with no additional costs added.
|
|
Wutz
Senior Member
Posts: 143
|
Post by Wutz on Jun 20, 2015 4:04:18 GMT
In my experience, SAR are accepted in Bahrain at the official rate (10 SAR = 1 BD). The only exception is hotels, which charge 10% extra (thieves). I've never tried to use BD in Saudi.
I'm pretty sure that you need your iqama before you can get a Saudi driver's license. My iqama number is the first item on my Saudi driver's license. Did you actually manage it, Bogie?
And don't assume that you'll pass the first time either. Some of the instructors can be real 'sticklers' - take the class and the test seriously, or you can be failed on a whim.
Wutz
|
|
|
|
Post by nomad1234 on Jun 20, 2015 4:29:10 GMT
Thanks for the feedback bogiefrommuskogee and Wutz.
I'm only looking at very initial expenses i.e. expenses from airport to home (e.g. taxi, porters, food items at kiosks etc.). I was thinking QAR would work since they have slightly more value than SAR - but I guess not. Is there a currency exchange before immigration?
Also, I'm sorry but can you tell me what U-Drive privilege is and what does "being able to drive company vehicle entails?"
Thanks
|
|
|
|
Post by bogiefrommuskogee on Jun 20, 2015 10:39:31 GMT
You will not need wads of cash on arrival. I have not flown into Dammam in over 10 years so I can't comment on currency exchange kiosks. I would be surprised if there weren't one but they might not always be open. If you have to take a taxi from the airport, agree on the fare before you get in the car. Airport taxis are the worst about excessive fares. There are ATMs everywhere and many are on Cirrus and Plus networks. I usually get 3.73 if I have to use them but also get hit with a foreign transaction fee. That is why I get some of salary paid into local bank. Rate is 3.75 and zero fees. Many divisions in Aramco have couple of division vehicles. Once you pass the Aramco course and receive a commentary drive report from your servisor, you can drive one of those vehicles. Most office centers also have u-drive vehicles which is a small fleet of cars you can check out for business needs. Just understand the u-drive rules so you avoid too many violations. Currently you are allowed less than 10 a month. For example, keeping a car more than 5 hours is a violation. Wutz may be right about the iqama/license thing. Too long ago for me to remember. Just be prepared to be able to do almost nothing until you get the iqama. Six weeks was a nightmare. I could not get satellite TV service. Watched Saudi 2 for six weeks. I know alot more about birds now.
|
|
|
|
Post by nomad1234 on Jun 22, 2015 16:24:35 GMT
Is there any limit on bringing in cash (mostly 10k USD per family)? Do US banks freak out on transferring big amounts to newly opened bank accounts in KSA (money that I'll need for car - planning to buy it cash)?
|
|
|
|
Post by bogiefrommuskogee on Jun 23, 2015 1:19:39 GMT
Banks don't care but the US govt does. $10K and over will be roported by your bank when you remove it. Any foreign bank account with $10K or more must be reported annually under the new FACTA law. It is not illegal to travel with more than $10K but it must be reported on arrival or it could be confiscated or worse. You could survive an entire year on $10K in Saudi. There are other better ways to move your dollars into Saudi after you are here. Wire transfers or depositing a check from your US account into your local bank. There is a limit to how much you can write a check for at a time but, with planning, is not a real problem. My bank allows me to withdraw 2,000 SAR from my US ATM card daily so double that with my wife's card. That is an act of desperation though because it is the most expensive way to do it. With my local ATM card, I think the limit is 5,000 SAR per day but that might have been increased lately. Not sure. I went a few years without a local bank account. That was stupid of me. Now it is basically a requirement to have one and I expect that is because of FACTA.
Also something to think about is you could withdraw $10K cash from the bank, get pulled over by the police for a broken tail light and have the police take all your money. I've read alot of stories like that on the news how police take cash under the Civil Asset Forfeiture law. They don't charge you with a crime - they just take your money. You may be able to get the money back eventually after much court time and lawyer fees.
|
|
|
|
Post by nallebjorn on Jun 23, 2015 9:13:50 GMT
bogiefrommuskogee
"Police just takes your money" ... This sounded like back in Wild West era.
Thanks for the heads up.
NB
|
|
|
|
Post by bogiefrommuskogee on Jun 23, 2015 10:31:51 GMT
It is effectively highway robbery. I believe the original intention of the law was to put a dent into drug trafficking so probably had good intentions. It is loosely based on British navigations acts from the 1600s. Because it is “civil”, the police to not have to prove criminal intent. They can simply “think” you might be involved in something nefarious. An example is a man gets $12,000 in cash to go meet a guy to buy a used car. He gets stopped by the police. During the conversation, they ask if he has any money and he confirms he has $12K. The police tell him they believe he is on his way to buy drugs. They take the money. Nothing the man can do. He can later go to court to try to claim it back but the court and lawyer might cost him $12K by the time it is all done. Usually the amount taken is small enough that it is not cost-effective to fight it. Transferring money from one US bank account to another in large amounts but below the $10K reporting requirement to avoid the bank flagging it to the govt can also get your bank accounts taken away. They only have to suspect something is not right. Banks are required to report anything over $10K. They can report anything they want to even if not required so smaller amounts may still get flagged.
While the law has had some good results in its intended purpose, police and sheriff departments all across the USA have used it as a windfall for extra revenue. With tax revenues falling in some places, the assets forfeited can make up a large percent of a department’s budget and they use it to buy all sorts of cool things. It has gotten some really bad press within the past year so police and sheriffs are under some pressure to stop the practice. Unfortunately there is a lot of money at stake.
|
|
|
|
Post by pinoycoolada on Jan 30, 2016 12:30:39 GMT
So my family would be visiting me soon on a multiple entry/exit visa. It will be their first time in the kingdom. They would be flying into Dammam airport. My question is, do they line up at the "first time/new to KSA" or at the line for "multiple entry/exit visa holders"? I appreciate your input.
|
|
Wutz
Senior Member
Posts: 143
|
Post by Wutz on Jan 30, 2016 16:07:21 GMT
pinoycoolada,
Is it really that hard? I think you've answered your question while asking it! First time line. When they return, they can go to the multiple entry line.
Wutz
|
|
|
|
Post by pinoycoolada on Apr 26, 2016 11:38:23 GMT
Update. So family came and they lined up at the multiple entry/exit visa although they were first timers. The line was a lot shorter and quicker. I was told by the person who directs the people that since they possess the multiple visas, there was no problem going over to this line than the longer line for first timers.
|
|
