Send a local transfer (Saudi IBAN)

Send a local transfer (Saudi IBAN)

A local transfer sends money to any bank account in Saudi Arabia using the partner's IBAN. Use it for suppliers, contractors and anyone who banks in the Kingdom.

Who can do this: System Admin, Authorized User, Finance Manager, Accountant and Transfer Initiator can add partners and create payments. Paying (releasing) a payment needs System Admin, Authorized User, Finance Manager or Accountant. Payments may need approval depending on your company's settings.
Where: Web · Mobile app

What you need

  • The partner's full name as it appears on their bank account.
  • Their Saudi IBAN: 24 characters starting with SA.

Tip: copy the IBAN from an invoice or the partner's bank letter. One wrong digit can delay or misroute a payment.

Add a local payment method

  1. Open the partner from Payments → Partner Hub.
  2. Click Add payment method and choose Local (Saudi Arabia).
  3. Enter the account holder name and the IBAN. SiFi detects the bank from the IBAN.
  4. Click Save.

SiFi checks the account before the first payment and shows the account holder name held by the bank. Check that it's who you expect to pay. See "Activate and verify a payment method".

Send a local transfer

  1. Go to Payments → Transfers and click Create transfer, or open the partner and click Create transfer.
  2. Get started: upload the invoice, or pick the partner from the Local Transfer tab.
  3. Source: choose where the money comes from: main wallet, a team budget or a card.
  4. Amount: enter the amount in SAR (minimum SAR 1.00).
  5. Details: choose the purpose of the transfer and add the payment instruction (shown on the receiver's statement) and a note if you like.
  6. Invoice: add the invoice details, or click Skip this step.
  7. Review & confirm: check the partner, IBAN, fees and VAT, then click Send transfer (or Submit for approval if your company needs approval). You can also Save as draft.

The payment appears in your history straight away.

How long it takes

AmountWhen you send itWhen it arrives
Up to SAR 20,000Any timeInstantly (IPS), if the receiving bank supports instant payments
Over SAR 20,000Working day, 8 AM – 3 PMSame day, usually within a few minutes to 2 hours (SARIE)
Over SAR 20,000After 3 PM, weekends, public holidaysNext working day (T+1)

Good to know

  • Any fee is shown before you confirm.
  • Once a payment method is saved and verified, you can pay the partner again in seconds.
  • Incoming SARIE notification emails show the sender name, sender bank and channel.

See also: Internal transfer · SWIFT transfer
Need help? support@sifi.sa