Due to changing regulations in KSA over the last few years, it seems the banking system is yet to catch up for GCC citizens. Accounts can be opened either via your Iqama, or your Bahrain ID. Certain banks changed regulations to require GCC Citizens to open using their national ID (ie, CPR) - opening with Iqama works but might eventually be frozen (we note this was specifically an issue with Rajhi Bank).Β
The below information is based on feedback from our community members and may change - be sure to check with your bank. We recommend opening at least 2 different bank accounts incase issue arises with one at any given time.
SAB: An account can be applied for via the website using your CPR number, which will take you to a form where you enter your details, receive an application number, then visit the branch to finalize it.Β
Rajhi Bank: Although an account can be opened immediately online with an Iqama, we recommend you skip this option and only open only via your Bahrain ID at the physical branch - mutiple people have reported their Iqama opened accounts eventually being frozen. The bank will require you to be physically present, bring your Bahrain CPR/Passport, an official national address document, and an employment letter.Β
D360 Bank: Local Saudi digital bank - opened online via Iqama and so far no issues have been reported; your ATM card can be mailed directly to you.
Meem: Local digital bank operated by GIB - this can be opened online via Iqama and so far no issues reported; your ATM card can be mailed directly to you.
STC Pay: This is equivalent to Bahrain's Benefit Pay, where you can transfer money using a mobile number, but offers additional banking facilities such as saving accounts and facilities. This can be opened with your Iqama number with no issues.
There are numerous banks across Riyadh - if you have any feedback on your experience please let us know to update the list here