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Post by GroveWanderer on Feb 17, 2015 5:14:43 GMT
Just to update people as regards this topic - the following was just announced:
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Post by Shammal on Feb 19, 2015 22:39:37 GMT
I have a few colleagues who are opening Saudi accounts for the first time for this reason.
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Post by Fyrwerx on May 9, 2015 9:08:00 GMT
For New Arrivers:
- Don't close your good bank or credit accounts in your home country.
- Bring enough cash to get you through the first month of employment. You really won't need much. (I brought $2000 in cash and didn't even spend $1000)
- Drop by a convenient Saudi Bank (I recommend NCB coz they have the best working relationship with Aramco IMHO).
- You can start your Saudi bank account right away but you wont have full access until your Iqama comes in.
- When you setup your payroll, have most of your pay deposited into your home country account.
- Have a smaller percentage deposited into your new Saudi bank account. (I personally use 80/20 rule)
NOTE: Some of the Saudi bank loans and credit card offers have great low rates and fees, BUT to get them they require all --or a large amount-- of your payroll deposited with them. I recommend you wait a while before making such decisions. Make sure your situation is sound at Aramco first. You can alway go back to payroll when you're sure and change your deposits.
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