Send Money to Saudi Arabia — Coming Soon
Peanut is expanding to Saudi Arabia. Soon you'll send money via SARIE instant transfers — no fees, no Iqama needed.
Send Money to Saudi Arabia with Peanut — Coming Soon
Peanut is expanding to Saudi Arabia. Soon you will be able to send money to anyone in Saudi Arabia and have them receive riyals directly into their bank account via SARIE — Saudi Arabia's real-time interbank payment system. The recipient will not need an Iqama or special banking setup to claim funds through Peanut.
Saudi Arabia hosts millions of expatriate workers who send remittances to India, Pakistan, the Philippines, and beyond. But the corridor also works in reverse — money flows into Saudi Arabia from family and business contacts worldwide. The Saudi riyal's peg to the US dollar at 3.75 SAR per USD provides exchange rate predictability.
Why Peanut Will Be the Best Way to Send Money to Saudi Arabia
No Fees
Peanut charges nothing on deposits, transfers, or withdrawals. Whether you fund via SEPA, ACH, or digital dollars — the deposit is free. Sending is free. The recipient accessing funds will be free. Compare to alternatives:
- Wise: 0.4-1.5% in additional charges
- PayPal: 3-4% cross-border fee plus exchange rate markup
- Western Union: $5-$15+ flat fee plus rate markup
Predictable Exchange Rate
The Saudi riyal is pegged to the US dollar at 3.75 SAR per USD. This fixed peg eliminates exchange rate uncertainty. When Peanut integrates SARIE, conversion from digital dollars to riyals will reflect this peg with no hidden markups.
Instant via SARIE
SARIE enables instant bank-to-bank transfers across all Saudi banks, 24/7/365. When Peanut integrates SARIE, recipients will receive riyals directly in their Saudi bank account — faster than traditional international wire transfers.
No Iqama Required
Info
Most Saudi financial services require an Iqama for expatriate workers or a Saudi National ID for citizens. Peanut bypasses that requirement for the sending and receiving process.
How It Will Work
- 1
Sign up and verify
Create a Peanut account and verify with your passport or national ID card. Takes under 2 minutes. No Iqama required.
- 2
Deposit funds
Fund your account using the method that fits your location. European users deposit via SEPA (free, under 20 minutes). US users deposit via ACH (free, 1-3 business days). Anyone can send digital dollars — free, arrives in minutes.
- 3
Send to the recipient
The recipient creates a Peanut account and verifies with their passport. Send money directly — Peanut-to-Peanut transfers arrive instantly.
- 4
Recipient receives riyals via SARIE
When SARIE integration launches, the recipient withdraws riyals to their Saudi bank account via instant transfer. Available 24/7/365.
What the Recipient Will Be Able to Do
SARIE Bank Transfer
SARIE enables instant transfers to any Saudi bank account — Al Rajhi, National Commercial Bank, Riyad Bank, SABB, and all others. When Peanut integrates SARIE, recipients will receive riyals in their bank in seconds, any time of day.
Digital Dollar Withdrawal
Recipients can withdraw USDC, USDT, or DAI to any external wallet. This is available today.
Peanut Balance
Recipients can hold digital dollars and send to anyone worldwide — including to workers in India, Pakistan, or the Philippines via Peanut Links.
Key Context: Saudi Arabia as a Remittance Hub
Saudi Arabia is primarily a remittance origin country — millions of expatriate workers send money home. But money also flows into Saudi Arabia from family, businesses, and international transfers. Peanut will serve both directions:
- Outbound: Workers in Saudi Arabia send money to family in India, Pakistan, Philippines, and beyond
- Inbound: Family and business contacts send money to recipients in Saudi Arabia
The SAR-USD peg at 3.75 means zero exchange rate risk on the dollar-to-riyal conversion — what you send is predictably what the recipient gets.
