In Saudi Arabia, receiving euros from abroad, whether from family, overseas earnings, or personal investments is increasingly common. But the process can be frustrating. Traditional banks often take too long, charge unclear fees, and apply unfavourable exchange rates that quietly reduce the amount you receive. This article will show you how Grey can help you receive euros faster, avoid unnecessary fees, and convert your money at better rates

Also read: How to receive and convert foreign currencies to USDC in Saudi Arabia

Common issues Saudis face when receiving euro transfers

1. Limited access to euro accounts: Most local banks in Saudi Arabia do not offer personal euro-denominated accounts, making it difficult to receive payments directly in EUR. This often forces users to convert at the point of receipt usually, at poor rates.‍

2. Exchange rates: Many banks apply inflated exchange rates or hidden margins when euros are received into  Saudi Riyal (SAR) accounts. s. This means you lose a chunk of your money during the conversion without even realising it.

3. High conversion fees: Traditional international transfers can come with flat fees, percentage-based deductions, and extra charges for currency conversion. These costs add up, especially for freelancers and remote workers receiving regular payments.

4. Slow Processing Times: Wire transfers from Europe can take several days to reflect in Saudi bank accounts, causing unnecessary delays, especially if funds are needed urgently.

Best platforms to receive euros in Saudi Arabia

1. Grey: Grey provides users with a euro account complete with a European IBAN. This makes it easy for professionals in Saudi Arabia to receive payments from European employers, freelance platforms, or family. Once funds arrive, you can convert them into SAR (Saudi Riyals) at competitive rates and withdraw to a local bank account.
2. Payoneer: Popular among freelancers and remote teams, Payoneer gives users access to a Euro receiving account. You can accept payments from platforms like Upwork or Fiverr and withdraw them to your Saudi bank account, though fees may vary.
3. Wise: Wise (formerly TransferWise) allows users to receive euros with clear, upfront fees and mid-market exchange rates. While full EUR account functionality may not be available in Saudi Arabia, it remains a reliable way to receive and convert money internationally.
4. Western Union: For personal remittances, Western Union remains a trusted option. Funds can be sent from Europe and picked up in cash or deposited directly into your Saudi bank account. However, the exchange rate may not always be the most favourable.

Also read: How to receive international freelance payments in Saudi Arabia

How to receive euros with Grey in Saudi Arabia

1. Sign up for Grey

Download the Grey app or visit the website. Sign up using your details and submit your ID for quick verification.

2. Get a EU account

Once verified, Grey will provide you with a EU account. Use this account to receive euro payments from clients, companies, or platforms like Fiverr or PayPal.

3. Hold, convert, or withdraw

You can choose to hold your euros, convert them to Saudi Riyals (SAR) at a rate you like, or withdraw to your Saudi bank account whenever you need.

4. Track your payments

With Grey’s intuitive dashboard, you can monitor transfers, manage currencies, and view transaction history in one place.

Conclusion

With Grey, professionals and everyday users in Saudi Arabia can receive euros through a free EU account, enjoy competitive exchange rates, and withdraw funds to local banks, all with speed and transparency.

Open your Grey account today and take control of your cross-border finances, the smart way.

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