ALASALAH Current Account

ALASALAH Current Account

ALASALAH Current Account

The features you need to know:

Multiple Currencies

Available in Saudi Riyals as well as other major currencies approved by SAIB.

Free cheque-book

Free cheque-book (Available only for Saudi Riyal Accounts).

Account Statement

Your choice of statement frequency (i.e. monthly, quarterly, half-yearly or yearly).

Settlement of bills and payments

Settlement of bills and payments through SADAD and ability to transfer funds locally and internationally.

Free access to your account through multiple channels :

 

 

Following requirements need to be fulfilled to open an account:

ELIGIBILITY CRITERIA

  • Age:
    • 18 years.
    • 15 years for Saudis holding a valid ID card.
  • Nationality:
    • Saudis.
    • GCC citizens with valid passport, or national identity card (applicable only to citizens of Bahrain, Oman, Qatar and UAE), and proof of address in the Kingdom (evidenced by a utility bill, house rental contract, real estate title deed, or a letter from a Saudi citizen attesting to the GCC citizen’s address) along with their home country address.
    • Non-Saudis (and Non-GCC) holding a valid residency permit (Iqama).

DOCUMENTATION

  • Fill out SAIB account opening application form and attach required documents.
  • Attach a copy of a valid identity document.

CHARGES AND MINIMUM REQUIRED BALANCE

No minimum deposit required to open the account.

TERMS & CONDITIONS

Click here to view the account opening terms and conditions

SERVICE STANDARDS

  • The entire process of opening an account takes no more than 25 minutes at any of SAIB Branches.
  • Your mada Debit Card, PIN and account identification card are issued immediately
  • Cheque book is issued within 2-3 business days
FAQs

What is the ALASALAH Current account?

It is an account opened in accordance with Islamic Sharia rules. This account allows you to issue cheques, deposit cash and fulfill all day-to-day transactions.

What are the benefits of ALASALAH current account?

  • Available in Saudi Riyals and other major currencies.
  • Free Cheque Book.
  • Free mada Debit Card for ATM Cash Withdrawals and Point of Sale (PoS) transactions.
  • Free Supplementary mada Debit Card from The Saudi Investment Bank for a family member.
  • Choice of account statement frequency. You can choose either a monthly, quarterly, half-yearly or yearly frequency.

Do I get any additional benefits?

The Account also facilitates:

  • Settling bills and payments through SADAD.
  • Transferring money within the Kingdom or abroad, through payment instructions or standing orders.
  • Earn WooW points on the average balance in your account each month.

How do I access my account?

The account can be accessed via

  • Flexx Click-Internet Banking
  • Flexx Touch - Mobile App
  • ATMs
  • Flexx Call-Contact Center
  • Any SAIB branch

To whom it is offered?

  • Saudi nationals who are at least 15 years old and hold a valid ID card.
  • GCC citizens who are at least 18 years old, hold a valid passport.
  • Non – Saudi nationals who are at least 18 years and hold a valid residency permit (Iqama).

What are the required documents to open a current account with SAIB?

  • Copy of a  valid national ID document.
  • For expatriates, a letter of introduction from the sponsor is required.

How do I apply?

Please click here to submit your contact details. Our representative will call you to complete formalities within 2 business days.
You can also contact our Flexx Call contact center at 800 124 8000 or visit any of our branches.