Monday, March 28, 2016

Procedure to send Money back home through Telemoney Exchange

Expatriates need to send money to their countries every now and then. Telemoney is a good service that expatriates can use to send money to their loved ones at their home. Let us brief you about this helpful service. Arab National bank is a leading service provider when it comes to Money Transfer.  Telemoney is the service provided by ABN, it gives a variety of options to the customers to perform money transfer in simple and most convenient ways.  People can use automated system for money transfers and they can also visit 96 Telemoney centers situated across the Kingdom. Telemoney is a convenient, speedy and user friendly service with accuracy of working. This service gives the ease of transferring by exchanging Saudi Riyal to several other currencies.

  1. Registration with Telemoney: Expatriates who want to use this service have to go through an easy process of registration with Telemoney. They just need to visist the Telemoney center and provide their Iqama’s copy and a few other details.
  2. Add Beneficiary Bank Account: After a customer is registered with Telemoney, he can add beneficiary accounts. The beneficiary account means account of the person at their native country. Telemoney provides the ease of registering 15 beneficiary accounts.
  3. Sending Money: Process of sending money through Telemoney is also very much easy; one can transfer money through online interface. It can also be done by visiting the nearest Telemoney branch. The customer has to approach the teller counter at the branch and has to tell the Iqama number and have to inform the teller about the beneficiary account previously added to his profile.
  4. Transaction: Teller person enters iqama details and the amount given by customer, he selects the beneficiary account told by customer and sends money. After completion of this transaction process a detailed receipt is handed to the customer.
  5. Service Charges and Delivery time: Service charges are nominal and they depend upon the service chosen by the person who is sending money. It takes 15 minutes up to 72 hours and the money is transferred to the beneficiary account. Normally the service charge is 16 SR and it takes 24 hours at max in the week days (working days).
  6. Transfer to India: It takes 24 hours to transfer money to the following banks in India. HDFC Bank, Federal Bank , ICICI Bank, Punjab National Bank , State Bank of India, Axis Bank , South
  7. Transfer to Pakistan: Credited amount in the accounts of following banks of Pakistan is received in 24 hours. National Bank of Pakistan, Muslim Commercial Bank, UBL, HBL, Allied Bank,
  8. Transfer to Philippines: If money is credited to any of the following banks in Philippines it will be transferred within 24 Hours. Rizal Commercial Bank Corporation (RCBC), BPInoy (BPI) , Metro Bank, Philippine National Bank, BDO, China Bank (CBC), Bank of Commerce (BOC).
Banks in Saudi Arabia
  1. Al Bilad Bank
  2. Alinma Bank
  3. AlRajhi Bank
  4. Arab National Bank
  5. National Commercial Bank
  6. Riyadh Bank
  7. Saudi American Bank (SAMBA)
  8. Saudi Hollandi Bank
  9. Saudi British Bank (SABB)
  10. Saudi Investment Bank


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