Summary: Al Rajhi Bank in Saudi Arabia does not provide direct cryptocurrency investment services through its website or mobile app. However, customers can transfer funds to approved and regulated crypto exchanges that comply with the guidelines set forth by the Saudi Arabian Monetary Authority (SAMA) for purchasing and selling digital currencies.
We recommend considering the Binance exchange, as it is regulated in Saudi Arabia and facilitates quick, low-cost Saudi Riyal (SAR) deposits directly from Al Rajhi Bank accounts. With a diverse range of over 350 cryptocurrencies and highly competitive fees starting at just 0.1% per transaction, Binance remains a leading choice in the industry.
- Instant and free Saudi Riyal (SAR) deposits from Al Rajhi Bank.
- Trade 350+ crypto assets with low fees starting at 0.1% per trade.
- Largest and most trusted Cryptocurrency exchange in the world with 100 million users.
How to Buy Bitcoin and Crypto with Al Rajhi Bank
The most secure way to buy Bitcoin and cryptocurrencies using your Al Rajhi Bank account is through a regulated exchange that complies with the guidelines set by the Saudi Arabian Monetary Authority (SAMA). After evaluating the top platforms available, we suggest Binance due to its regulatory compliance and affordable deposits via Al Rajhi Bank transfers, instant credit transfer or Al Rajhi credit and debit cards, granting access to a wide variety of crypto assets.
Follow these four simple steps to begin:
- Sign Up: Create an account on Binance and complete the identity verification process.
- Deposit Funds: Choose Saudi Riyals (SAR) as your currency and select the cryptocurrency you wish to acquire.
- Transfer Funds: Deposit funds from your Al Rajhi Bank account using a bank transfer or another suitable method.
- Purchase Crypto: Click 'Buy', and the tokens will be instantly credited to your account.
Al Rajhi Bank Cryptocurrency Policy
Al Rajhi Bank adopts a crypto-friendly approach, allowing customers to use their Saudi Riyals (SAR) for buying and selling digital currencies through exchanges that comply with the guidelines set by the Saudi Arabian Monetary Authority (SAMA). As a leading Saudi Arabian banking institution, Al Rajhi Bank enables direct fund transfers to crypto brokers via their mobile app, facilitating convenient investment in this asset class.
About Al Rajhi Bank
Al Rajhi Bank is a leading Saudi Arabian financial institution, founded in 1957 in Riyadh. It offers a comprehensive range of financial services, including personal and corporate banking, investment banking, asset management, and insurance. With a robust network of branches and a strong online presence, Al Rajhi Bank serves individual clients, small and medium-sized enterprises (SMEs), and large corporations, distinguishing itself as a prominent retail banking provider in Saudi Arabia.
Final Thoughts
In conclusion, Al Rajhi Bank accommodates its customers' interest in cryptocurrency investments by enabling fund transfers to approved exchanges like Binance. Despite not offering direct crypto investment services, Al Rajhi Bank's crypto-friendly stance and seamless integration with compliant platforms make it a convenient choice for investors in Saudi Arabia.
By following a simple four-step process, users can securely invest in a wide range of digital currencies while benefiting from the reliable services of a well-established Saudi Arabian banking institution.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
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