🇸🇦 Pay Suppliers in Saudi Arabia
Pay Saudi suppliers for petrochemicals, construction materials, oil & gas equipment
T+0 (2.3s avg within Unicorn network). Save 78% vs traditional banks.
What you need to send money to Saudi Arabia
What details do I need to pay suppliers in Saudi Arabia?
To pay suppliers in Saudi Arabia you need the recipient's IBAN (International Bank Account Number (Saudi format)), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to Saudi Arabia?
Payments to Saudi Arabia settle in an average of 2.3 seconds when using local rails such as SADAD, compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to Saudi Arabia?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 78% versus banks (e.g. £505 vs £2332 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to Saudi Arabia
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 2.3% | 0.5% |
| Payment Fee | £32 | £5 |
| Total Cost (£100,000) | £2,332 | £505 |
| YOUR SAVINGS | N/A | £1,827 (78%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in Saudi Arabia
Avoid expensive SWIFT fees. We use local payment systems in Saudi Arabia for faster, cheaper settlement.
SADAD
Saudi electronic payment system for bills/invoices
SARIE
Saudi RTGS for large corporate payments
mada Pay
Saudi domestic card network for businesses
Who Uses This Payment Corridor
Key Industries in Saudi Arabia
- Petrochemicals
- Oil & Gas
- Construction
- Energy
- Manufacturing
Average Transaction: £120k-£600k
Typical Monthly Volume: £700k-£7M
Popular Supplier Types
- Petrochemical plants (Jubail, Yanbu)
- Oil & gas equipment (Dammam, Khobar)
- Construction materials (Riyadh, Jeddah)
- Industrial manufacturers (Jubail Industrial City)
What You Need to Know: Saudi Arabia Payments
Regulatory Considerations
- Saudi Arabian Monetary Authority (SAMA) regulations
- Saudi Customs documentation
- VAT (15%) on goods and services
- Saudization (Nitaqat) employment requirements
Payment Tips for Saudi Arabia
- Saudi Arabia = Oil & gas leader, petrochemical hub
- SADAD widely used for B2B invoicing
- Riyadh + Jeddah + Dammam = Main business centers
- Vision 2030 - economic diversification ongoing
Why Choose Unicorn for Saudi Arabia Payments
Local Rails, Not SWIFT
We use SADAD and other local systems in Saudi Arabia. Avoid 3-4% SWIFT fees and 2-3 day delays.
78% Lower Costs
Save £1,827 on every £100,000 payment. On £700k-£7M monthly volume, save up to £54,810 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for Saudi Arabia payments.
Real-Time FX Tracking
Upload supplier invoices in SAR. See live P/L as GBP/SAR rates move. Lock rates for 15 seconds before committing.
£1,000,000+ Paying Suppliers in Saudi Arabia? Save 78%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to Saudi Arabia
For businesses with high annual FX volume. Not consumer transfers.