Declare Al -Rajhi Financial institution On the launch of a brand new service for his prospects that allows them to ship cash instantly and on to financial institution accounts in additional than 30 nations by way of Visa Direct, as a part of increasing his strategic partnership with the world main VISA within the discipline of digital funds.
This step relies on profitable cooperation between Al -Rajhi Financial institution and VISA, which enabled the financial institution prospects to make nearly instantly border transfers to Visa playing cards.
With the conclusion of the brand new partnership, the financial institution’s purchasers can ship cash on to financial institution accounts in lots of nations around the globe, together with India, Pakistan, Egypt, Bangladesh, the Philippines, Indonesia and Nepal. In a service that represents a qualitative addition to Al -Rajhi Financial institution prospects, because it permits them to ship cash shortly, safely and extra flexibility to help their households and meet their varied wants.
On this event, Majid Al -Rajhi, Director Basic of Banking Companies for People at Al -Rajhi Financial institution, mentioned: “Our prospects are making billions of riyals yearly, and anticipate an expertise characterised by smoothness, security and aggressive costs. A digital portfolio or now on to the checking account, in a transfer that represents a brand new station inside our digital transformation journey, and embodies our dedication to satisfy the wants of our various and evolving buyer base. “
For his half, Ali Bilon, the regional director of Visa in Saudi Arabia, Bahrain and the Sultanate of Oman mentioned: “The Kingdom of Saudi Arabia remains to be one of many largest sources of non-public monetary transfers on the planet, as the amount of transfers exterior of which reached 4.13 billion US {dollars} in March 2025, which is the very best stage recorded in about 9 years, and with the growing aspirations of customers to switch their cash shortly and safely, they parallel to the pace of their textual content messages. In changing this ambition into actuality.
By increasing the scope of our partnership with Al -Rajhi Financial institution, we strengthen the capabilities of VISA Direct a number of channels, enabling people and firms in Saudi Arabia to switch cash internationally in precise time and with excessive reliability.
This service comes at a time when the Kingdom is witnessing an accelerated progress within the demand for the options of essentially the most speedy and clear worldwide digital funds, and research point out that the overwhelming majority of customers within the Kingdom – about 93% – are conducting worldwide monetary transfers no less than as soon as yearly, with a transparent desire for digital channels because of the ease of use, security and privateness it offers.
The Visa Direct community, supported by Al -Rajhi Financial institution’s partnership, permits instant and secure transfers to playing cards, digital portfolios, and financial institution accounts around the globe. Its options additionally embrace the Visa+service, which permits sending cash utilizing a cell phone quantity or e mail deal with solely, with out the necessity for checking account particulars, which boosts the pliability of fee choices for customers, whether or not for private functions or for enterprise.
This spanning cooperation for a number of years between Al -Rajhi Financial institution and Visa embodies a brand new station within the financial institution’s march in the direction of offering superior monetary options, and enhancing its place as a pioneer within the discipline of worldwide monetary transfers within the Kingdom.
