Thursday, February 27, 2014

Opening a Bank Account in Saudi Hollandi Bank

Bank Account of Saudi Hollandi Bank is offering very basic features. Only one bank account is offered and it is current account. All the facilities which are available to almost all bank accounts are available on this account. They offer you 2 free supplementary debit cards free of charge. They are providing good saving and investment account option as well to their customers. However, interest rates which they are offering are not available on the website.

Credit Cards offered by Saudi Hollandi Bank are not competitive to the market. They are offering interest charge from 24% to 30%. Annual fee for the first year is zero however from subsequent years, you will be charged SR 150 to SR 1,000 as per your credit card. They also offer cash withdrawal up to 50% of the credit limit. They offer you reward points which can be redeemed into vouchers. Through these vouchers you can make purchases through the designated stores by the Saudi Hollandi Bank. Discount on every purchase is available from 1% to 1.5%. However, credit card with 1.5% discount has an annual fee of SR 1,000/-

Customer Service: Fair

My Personal Suggestion is not to open a bank account with this bank if your monthly income is less than SR 15,000/-. They are offering preferred banking service to the people with monthly income of SR 15,000/- or more. 

Comment 1 – Opening a Bank Account in Saudi Arabia: What are the documents required for opening the current account in Saudi Hollandi Bank?
Answer by Steve:
  1. Letter of introduction from Employer. Sample Letter of Introduction to open bank account in Saudi Arabia is available in this link.
  2. Iqama
  3. Copy of Passport

Banks in Saudi Arabia
1.   Al Bilad Bank
3.   Alinma Bank
6.   Riyadh Bank

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