If you have recently moved to Saudi Arabia or are planning to relocate soon, one of the very first things you will need to sort out is a bank account. And trust me, choosing the right bank can literally save you thousands of riyals every single year.
Now, there are dozens of banks operating in the Kingdom, but three names keep coming up again and again when expats discuss banking — Al Rajhi Bank, Saudi National Bank (SNB), and D360 Bank. Each one brings something unique to the table, and each one has its own strengths and weaknesses.
In this detailed comparison, you are going to get a clear, side-by-side breakdown of everything that matters — from eligibility criteria and required documents to fees, charges, cards, digital banking features, savings options, and much more. By the end of this post, you will know exactly which bank fits your specific needs as an expat living in Saudi Arabia.
So let us get right into it.
1. Bank Overview — What Are These Banks?
Before jumping into the numbers, it is important to understand what kind of bank you are dealing with. Here is a quick snapshot of all three:
| Comparison Point | Al Rajhi Bank | SNB (Saudi National Bank) | D360 Bank |
|---|---|---|---|
| Type | Traditional Islamic Bank | Traditional Bank (Largest in KSA) | 100% Digital Bank |
| Established | 1957 | 1953 (formerly NCB + Samba merger) | Licensed 2022 (SAMA) |
| Shariah Compliant | ✅ Yes | ✅ Yes | ✅ Yes |
| Regulator | Saudi Central Bank (SAMA) | Saudi Central Bank (SAMA) | Saudi Central Bank (SAMA) |
| Physical Branches | 500+ branches across KSA | 450+ branches (Largest ATM network) | ❌ No branches — fully digital |
| Backed By | Al Rajhi Family | Largest bank by assets in KSA | PIF (Public Investment Fund) & Derayah Financial |
| Capital | One of the largest Islamic banks globally | Largest bank in Saudi Arabia | SAR 2.1 Billion |
| Best Known For | Expat-friendly services (alrajhi global) | Largest branch & ATM network | Zero-fee digital banking |
🟢 Key Takeaway: Al Rajhi and SNB are traditional banks with massive physical presence, while D360 is Saudi Arabia’s first fully digital bank with no branches at all — everything runs through the app.
2. Eligibility Criteria & Documents Required
This is the section most expats care about first — can you actually open an account, and what do you need? Here is the complete breakdown:
| Requirement | Al Rajhi Bank | SNB (Saudi National Bank) | D360 Bank |
|---|---|---|---|
| Minimum Age | 18 years | 18 years (15 for minors with guardian) | 18 years |
| Iqama (Residency Permit) | ✅ Accepted | ✅ Required (Valid ID) | ✅ Accepted |
| Can Open Without Iqama? | 🟢 YES — with 90-day work visa | ❌ No — Valid National/Resident ID needed | ❌ No — Iqama or National ID required |
| Absher Registration | Not explicitly required for branch opening | ✅ Required (absher.sa) | ✅ Required |
| National Address | Required for full account activation | ✅ Required (splonline.com.sa) | ✅ Required |
| Passport Required | ✅ Yes (6-month validity minimum) | Not specified separately | Not required separately |
| Company/Employer Letter | 🟢 YES — for opening without Iqama | Not required | Not required |
| Proof of Address in KSA | Required for visa-based opening | Via National Address | Via National Address |
| How to Open | Branch visit OR App/Website (with Iqama) | Online via AlAhliOnline OR Branch | 🟢 100% Online via D360 App (under 2 minutes) |
🟢 IMPORTANT FOR NEW EXPATS: Al Rajhi Bank is the ONLY bank among these three that allows you to open an account even before your Iqama is issued. If you have just arrived on a 90-day work visa, you can walk into an Al Rajhi branch with your passport, work visa, company letter, and proof of temporary address — and they will set up your account.
🔴 D360 Bank is the fastest for account opening if you already have your Iqama — the entire process takes less than 2 minutes through the app. No branch visit needed at all.
3. Account Features & Benefits — The Big Comparison
This is the core of the comparison. Here is everything you get with a standard current account at each bank:
| Feature | Al Rajhi Bank | SNB (Saudi National Bank) | D360 Bank |
|---|---|---|---|
| Account Opening Fee | Free | Free | Free |
| Minimum Balance Required | None | None | None |
| Mada ATM Card Issuance | Free | Free (Platinum) | Free |
| ATM Cash Withdrawal (Domestic) | Free | Free | 🟢 Free (No ATM fees — any ATM) |
| ATM Cash Deposit | Free | Free | Via app transfer (digital bank) |
| POS Transactions (Domestic) | Free | Free | Free |
| Card Renewal | Free | Free | Free |
| Cheque Book | 🟢 Free (25 cheques) | 🟢 Free | ❌ Not Available |
| Monthly Statement | Free (email) | Free | Free (in-app) |
| SMS Notifications | Available | 🟢 Free | In-app notifications |
| Online/Mobile Banking | ✅ 24/7 (alrajhi bank app) | ✅ 24/7 (AlAhliOnline, AlAhliMobile, Phone Banking) | ✅ 24/7 (D360 App — Primary channel) |
| mada Pay Support | ✅ Yes | ✅ Yes | ✅ Yes |
| Salary Transfer Benefits | 🟢 YES — Special finance & card privileges | Available for Al Wessam customers | Not specifically listed |
| Digital Wallet | ✅ Apple Pay, mada Pay | ✅ Apple Pay, mada Pay | ✅ Apple Pay, mada Pay |
| No. of Account Types | Current + Savings (6 types) + Foreign Currency | Current + Al Wessam + Gold + Savings | Current + Sanabil Daily + Sanabil Monthly |
| Customer Support | Branch + Phone + Email | Branch + Phone + Online | 🟢 24/7 Phone & In-App Support |
| Physical Branch Access | ✅ 500+ branches | ✅ 450+ branches (Largest network) | ❌ No branches |
🟢 Highlighted — Salary Transfer: If you transfer your salary to Al Rajhi Bank, you unlock significant benefits including easier personal finance approval, 0% down payment on car leasing, and access to premium credit cards. This is a major advantage for working expats.
🔴 D360 Bank does NOT issue cheque books. If your landlord, employer, or any service provider requires cheque-based payments, D360 will not work for you. Keep this in mind.
4. Fees & Charges — Where Your Money Actually Goes
This is where things get really interesting. Fees can quietly eat into your earnings if you are not careful. Here is the full comparison:
4.1 Card-Related Fees
| Fee Type | Al Rajhi Bank | SNB (Saudi National Bank) | D360 Bank |
|---|---|---|---|
| Mada Card Issuance | Free | Free (Platinum) | Free |
| Mada Card Renewal | Free | Free | Free |
| Re-issue (Lost/Damaged) | SAR 10 | SAR 10 | Information not available on website |
| Additional Mada Card | SAR 10 | SAR 10 | N/A |
| Premium Card (World) | N/A | SAR 350/year (Mada World) | N/A |
| GCC ATM Withdrawal | SAR 10 | SAR 10 | 🟢 Free (during introductory period) |
| GCC Balance Inquiry | SAR 3 | SAR 3 | Free |
| GCC POS | Free | Free | Free |
| International ATM Withdrawal | 3% of amount (Max SAR 25) | 3% of amount (Max SAR 25) | 🟢 Free (No fees — introductory period) |
| International Balance Inquiry | SAR 3.5 | Not specified separately | Free |
| International POS/Online Purchase | Included in card charges | 2% of transaction amount | 🟢 Free — No international fees |
🟢 THIS IS HUGE — D360 Bank charges ZERO fees on international transactions. That means no ATM withdrawal fees abroad, no currency conversion charges on purchases, and no hidden percentage cuts. For expats who travel frequently or shop online from international websites, this alone could save you hundreds of riyals every yeaR.
🔴 Both Al Rajhi and SNB charge 3% (max SAR 25) for international ATM withdrawals and SNB charges 2% on international purchases. These charges add up fast if you are sending money home or traveling.
4.2 Transfer Fees
| Transfer Type | Al Rajhi Bank | SNB (Saudi National Bank) | D360 Bank |
|---|---|---|---|
| Within Same Bank | Free | Free | Free |
| Local Transfer (SARIE) — Same Day | SAR 25 | SAR 7 (digital, >SAR 20K) | 🟢 Free |
| Local Transfer (SARIE) — Next Day | SAR 15 | SAR 5 (digital, >SAR 20K) | 🟢 Free |
| Local Transfer <SAR 2,500 | Included in SARIE fee | SAR 0.50 | 🟢 Free |
| Local Transfer SAR 2,500–20,000 | Included in SARIE fee | SAR 1 | 🟢 Free |
| International Transfer (Electronic) | SAR 50 | 🟢 Free (QuickPay) | 🟢 Free (50+ countries) |
| International Transfer (Branch) | SAR 75 | Max SAR 50 (MoneyGram) | N/A (no branches) |
| Cancel/Amend International Transfer | SAR 15–25 | SAR 15 | Information not specified |
| Standing Order | SAR 5 | SAR 10 | Not specified |
🟢 D360 Bank offers FREE domestic and international transfers. This is a game-changer for expats who regularly send money back home. No hidden charges, no per-transaction fees — just free transfers to 50+ countries.
🟢 SNB also offers FREE international transfers through their QuickPay service. This makes SNB a very strong contender for remittance-focused expats.
🔴 Al Rajhi Bank charges SAR 50 per electronic international transfer and SAR 75 at the branch. However, through the alrajhi global program, expats may get discounted remittance fees and preferential FX rates.
4.3 Account Statement & Other Fees
| Service | Al Rajhi Bank | SNB (Saudi National Bank) | D360 Bank |
|---|---|---|---|
| Monthly Statement (Email/Electronic) | Free | Free | Free (in-app) |
| Statement <1 Year (Branch) | Free | Free | N/A |
| Statement >1 Year | SAR 15 | Free (via digital) | N/A |
| Account Certificate | Free | Free | Not specified |
| SADAD Bill Payment | Available | Free | Available |
4.4 Cheque-Related Fees
| Cheque Service | Al Rajhi Bank | SNB (Saudi National Bank) | D360 Bank |
|---|---|---|---|
| First Cheque Book (25 cheques) | Free | Free | ❌ Not Available |
| Additional Cheque Book | SAR 5 | Varies | ❌ Not Available |
| Banker’s Draft (SAR) | SAR 5 | Available | ❌ Not Available |
| Banker’s Draft (Foreign Currency) | SAR 15 | Available | ❌ Not Available |
| Stop Payment on Cheque | SAR 10 per cheque | Available | ❌ Not Available |
🔴 D360 Bank does NOT provide cheque book services at all. This is a significant limitation if you need cheques for rent payments, security deposits, or any formal transactions that still require paper cheques in Saudi Arabia.
5. Savings Accounts & Profit Rates
This matters a lot if you want your idle money to actually work for you. Here is how the three banks compare on savings:
| Savings Feature | Al Rajhi Bank | SNB (Saudi National Bank) | D360 Bank |
|---|---|---|---|
| Savings Account Available | ✅ Yes (Multiple types) | ✅ Yes | ✅ Yes (Sanabil Daily & Monthly) |
| Shariah Compliant | ✅ Yes | ✅ Yes | ✅ Yes (Mudaraba-based) |
| Types of Savings | Hassad (Minimum/Daily/Daily Distribution), Future Account, Million Account, Awaed Account | Standard Savings Account | Sanabil Daily Account, Sanabil Monthly Account |
| Best AER (Profit Rate) | 🟢 Up to 4.40% (Awaed Account) | Not publicly disclosed on website | ~2% AER (Variable) |
| Minimum Balance for Profit | SAR 1,000 (Million Account) to SAR 25,000 (Awaed) | Not specified | SAR 2,500 (Daily) / SAR 1,000 (Monthly) |
| Profit Sharing Ratio | 60% Customer / 40% Bank | Not specified | 🟢 80% Customer / 20% Bank |
| Profit Distribution | Monthly or at maturity (varies by product) | Periodic | Daily (Sanabil Daily) or Monthly (Sanabil Monthly) |
| Withdrawals | Unlimited (Hassad & Million) | Flexible | Unlimited (both accounts) |
| Dedicated IBAN | Not specified | Not specified | 🟢 Yes — separate IBAN for savings |
🟢 Al Rajhi Bank offers the HIGHEST profit rate at up to 4.40% AER through its Awaed Account (requires SAR 25,000 minimum and fixed tenor of 1-36 months). For flexible savings, their Hassad accounts offer 2.00%–3.60% AER.
🟢 D360 Bank offers the most customer-friendly profit sharing at 80/20 — meaning you keep 80% of the generated profit. Plus, the Sanabil Daily Account gives you profit every single day, deposited at 9:00 AM the next business day.
6. Special Features for Expats
| Expat Feature | Al Rajhi Bank | SNB (Saudi National Bank) | D360 Bank |
|---|---|---|---|
| Dedicated Expat Program | 🟢 YES — alrajhi global | No specific expat program | No specific expat program |
| Open Account Before Iqama | 🟢 YES (with work visa) | ❌ No | ❌ No |
| Free Global ATM (Travel Card) | 🟢 Yes (Travel Plus Card via alrajhi global) | No special travel card | 🟢 Yes (Debit card — no international fees) |
| Preferential FX Rates | 🟢 Yes (alrajhi global) | Standard FX rates | 🟢 Competitive exchange rates |
| Discounted Remittance | 🟢 Yes (alrajhi global) | Free via QuickPay | Free to 50+ countries |
| Foreign Currency Accounts | ✅ Yes | ✅ Yes | Not available |
| Musaned (Domestic Worker Salary) | Available | Available | 🟢 Free + Free international transfers (SAR 100+) |
| Masareef Card (Family Spending) | ❌ Not available | ❌ Not available | 🟢 YES — Set limits, personalize, control spending |
| Referral Rewards | Mokafaa Points (alrajhi global) | Not specified | Not specified |
🟢 alrajhi global is a standout product specifically designed for international professionals. It bundles free global ATM access, discounted remittance, and preferential FX rates into one package — all for free through the Al Rajhi app.
🟢 D360 Bank’s Masareef Card is unique — it lets you create a separate card for family members or dependents with custom spending limits. You can personalize it with kids’ names and set daily, weekly, and monthly limits.
7. Digital Banking Experience
| Digital Feature | Al Rajhi Bank | SNB (Saudi National Bank) | D360 Bank |
|---|---|---|---|
| Mobile App | alrajhi bank app | AlAhliMobile + NEO App | D360 Bank App |
| App Rating (Google Play) | High rated | High rated | High rated |
| Account Opening via App | ✅ Yes (with Iqama/ID) | ✅ Yes (Online) | 🟢 Yes — Under 2 minutes |
| Biometric Login | ✅ Yes | ✅ Yes | ✅ Yes |
| Card Controls (Freeze/Unfreeze) | ✅ Yes | ✅ Yes | 🟢 Advanced — Set limits for online, international, ATM separately |
| Spending Analytics | Available | Available | 🟢 Built-in spending tracking |
| Request Money Feature | Not specified | Not specified | 🟢 YES — Send money requests via app |
| Digital Wallet Integration | Apple Pay, mada Pay | Apple Pay, mada Pay | Apple Pay, mada Pay |
| Phone Banking | Available | ✅ AlAhli Phone Banking | 24/7 In-App + Phone |
| Multi-Language Support | Arabic, English | Arabic, English | Arabic, English + more |
🟢 D360 Bank wins the digital experience hands down. Being a digital-first bank, their entire infrastructure is built around the app. Features like requesting money, advanced card controls, and instant account opening are native to the platform.
8. Final Verdict — Which Bank Should YOU Choose as an Expat?
There is no single “best bank” — it entirely depends on your specific situation and priorities. Here is the honest recommendation:
| Your Situation | Best Bank for You | Why |
|---|---|---|
| Just arrived — No Iqama yet | 🏆 Al Rajhi Bank | Only bank that lets you open account with just a work visa and passport |
| Send money home regularly | 🏆 D360 Bank or SNB | D360 offers free transfers to 50+ countries; SNB has free QuickPay |
| Travel frequently | 🏆 D360 Bank | Zero international fees on ATM withdrawals AND purchases |
| Want highest savings returns | 🏆 Al Rajhi Bank | Up to 4.40% AER on Awaed Account |
| Need cheque book | 🏆 Al Rajhi Bank or SNB | D360 does not offer cheques at all |
| Prefer branch banking | 🏆 SNB | Largest ATM and branch network in Saudi Arabia (450+ branches) |
| Want 100% digital experience | 🏆 D360 Bank | Built from ground up as a digital bank — fastest, smartest app |
| Salary transfer benefits | 🏆 Al Rajhi Bank | Special finance approvals, 0% down payment car leasing, premium cards |
| Family spending management | 🏆 D360 Bank | Masareef Card with custom spending limits for family members |
| Domestic worker salary payment | 🏆 D360 Bank | Musaned service with free international transfers for SAR 100+ |
The Smart Expat Strategy
Here is what many experienced expats in Saudi Arabia actually do — they do not limit themselves to just one bank. The smartest approach is:
- Open Al Rajhi Bank first (especially if you do not have your Iqama yet) — use it for salary transfer, cheques, and savings (Awaed/Hassad accounts).
- Open D360 Bank second — use it as your daily spending card (zero international fees), international transfers (free), and family spending (Masareef Card).
- Consider SNB if you value the largest physical branch network and free international QuickPay transfers.
This way, you get the best of every world — maximum savings returns from Al Rajhi, zero-fee international spending from D360, and the security of a massive branch network from SNB.
Sources
- https://www.alrajhibank.com.sa/en/Personal/Accounts/Current-Account
- https://www.alrajhibank.com.sa/en/Personal/Accounts/Products-and-Services-fees
- https://www.alrajhibank.com.sa/en/About-alrajhi-bank/alrajhi-global
- https://www.alrajhibank.com.sa/en/About-alrajhi-bank/alrajhi-Global/after-arrival
- https://www.alrajhibank.com.sa/en/Personal/Financing-And-Savings-Products-For-Individuals
- https://www.alahli.com/en/pages/personal-banking/accounts-and-deposits/current-accounts
- https://www.alahli.com/en/pages/personal-banking/accounts-and-deposits
- https://www.alahli.com/en/pages/personal-banking/finance/sarie-local-transfers
- https://neo.sa/finance-and-saving-pricing
- https://d360.com/en
- https://d360.com/en/cards/debit-card
- https://d360.com/en/cards/masareef-card
- https://d360.com/en/sanabil-daily-account
- https://d360.com/en/sanabil-monthly-account
- https://d360.com/en/sanabil-daily-account/terms-and-conditions
- https://d360.com/en/musaned
- https://d360.com/en/services-fees
