Saudi Arabia is leading the way in shaping the future of work, with a well-established remote work program that continues to attracts a growing number of freelancers and remote workers. As these professionals engage in global business, they require a reliable solution for seamless international transactions. Grey offers access to US accounts, providing an easy way to manage cross-border payments.
In this guide, we’ll show you how to easily set up your account and make cross-border banking accessible from Saudi Arabia.
Why open a US bank account in Saudi Arabia?
Lower conversion fees: In Saudi Arabia, converting SAR (Saudi Riyal) to USD for international transactions can be expensive. A US account helps you bypass frequent exchange costs, keeping more of your earnings intact.
Streamline global payments: As Saudi Arabia’s economy diversifies and its role in global markets grows, a US account offers a reliable way to handle payments efficiently when dealing with international clients and partners.
Who benefits from having a US bank account in Saudi Arabia?
Freelancers and contractors: Popular freelance fields in Saudi Arabia, like IT, marketing, and engineering, often involve international clients. A US bank account makes it easier to receive payments in USD, avoiding delays and exchange-rate fluctuations.
Small business owners: SMEs in Saudi Arabia that trade with US partners can simplify their financial processes, such as invoicing and payments, by holding a US account. This eliminates unnecessary middlemen and reduces operational costs.
Digital nomads: A US account enables digital nomads in Saudi Arabia to efficiently manage global income, save on conversion fees, and enjoy greater financial control while working remotely.
How to open a US bank account with Grey in Saudi Arabia
Opening a Grey account is straightforward and can be done in minutes.
First, visit grey.co on your browser and sign up by creating an account with your email.
Then follow the prompts and ensure you enter your correct details for a seamless setup.
Next, you’ll need to verify your identity — a crucial step for meeting regulatory requirements. This process is particularly important for non-U.S. residents, as Grey specialises in providing accounts for individuals outside the United States.
Prepare your documents: Ensure you have a valid government-issued ID (e.g., passport or national ID) and proof of address (e.g., utility bill, rental agreement, or bank statement).
Upload your documents: Submit your documentation via the Grey platform. Make sure your uploads are clear and current to facilitate approval. Grey reviews and verifies accounts within minutes or up to 24 hours.
.png)
.svg)
