The partnership between Arab African International Bank (AAIB) and Western Union aims to enhance money transfer services and promote financial inclusion. Western Union (NYSE: WU), a leader in money transfer and global payment services, is dedicated to providing consumers and businesses with fast, reliable, and convenient ways to send and receive money around the world.
Expansion and Collaboration in Egypt
Western Union has signed an agreement with AlexBank, the Egyptian subsidiary of the Intesa Sanpaolo Group, to offer Western Union® money transfer services in Egypt. This agreement consolidates market presence, increasing agent locations to over 200 through AlexBank’s nationwide network of branches.
Hatem Sleiman, Western Union's Regional Vice President, Near East, Egypt, Saudi Arabia, and Sudan, stated, "Remittances are an essential source of income for migrant families, meeting as much as 40 percent of household expenses. With nearly two decades of experience in providing money transfer services in Egypt, we see the need to extend our services to as many consumers as possible by growing our agent base and number of locations. This alliance with AlexBank is a clear example of two leading entities collaborating to meet the growing needs of consumers. I would like to thank the Central Bank of Egypt for their support and cooperation in enabling us to bring money transfer services to more Egyptians and their families than ever before."
Bruno Gamba, Chairman of ALEXBANK, added, "Western Union represents the latest in the Intesa Sanpaolo Group's continuous efforts to provide world-class services throughout our network. Both entities, with the support of the Central Bank of Egypt, have put in a tremendous effort to bring this to light."
Bassel Rahmy, ALEXBANK's Director of Retail and SME Banking, noted, "This alliance will effectively deliver the service to every governorate in Egypt. Egypt is a vibrant market with a sizeable diaspora of over 6.5 Million individuals who frequently remit and transfer money back home. This alliance puts us in pole position to capitalize on this market and provide WU services to our existing customers while also opening our doors to non- AlexBank customers who will experience our unique service proposition for the first time."
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Egypt accounts for over 40 percent of total remittance inflows to the MENA region and saw a six-fold increase in remittances over the last eight years, becoming the largest recipient ahead of Lebanon, Morocco, Jordan, and Tunisia, according to the World Bank.
Sending Money from the USA to Saudi Arabia
It’s straightforward to transfer money from the United States of America to Saudi Arabia - just register for a free profile to get started. You’ll have a wealth of choices when researching how to send money to Saudi Arabia. Whether supporting relatives in your hometown or transferring funds as a gift, the main options to send money are:
- Online: Just register for a profile to get started.
- Via our app: Another quick and easy way to move money.
- In-person: Find an agent location close to home.
Confirm your money transfer using a bank account, credit or debit card, or cash. Our vast network of agent locations allows your receiver to pick up cash close to home.
What do I need to send money online to Saudi Arabia?
You’ll need a US driver’s license, passport or government-issued ID to register online with Western Union®. When sending money to Saudi Arabia, your receiver’s account number, and the purpose of the transfer are required. We might also ask for additional information about your source of funds and occupation, depending on the amount of money you would like to send, when making a ‘large amount’ money transfer.
Read also: Comprehensive Guide to the Egyptian Consulate
How do I send money to Saudi Arabia from a Western Union® agent location?
To transfer money to Saudi Arabia from a US agent location, simply:
- Search for an agent location close to your home.
- Take a valid government-issued ID or phone number to the counter. You’ll also need to show your receiver’s bank and account details.
- Use cash or a US bank-issued debit card to pay for your remit to Saudi Arabia.
- Read the tracking number (MTCN) on your receipt, which can be shared with your receiver to follow their money.
You can send money to bank accounts in Saudi Arabia for free on your first transfer. All you need to do is register online and verify your Western Union® profile. Get your recipient’s information before sending money. This includes their bank branch name, account number, and full address. Bank transfer times can be anywhere from minutes up to one banking day.
Pick the way that’s most helpful to you and your loved ones. Make an online money transfer to Saudi Arabia, send with our app or pay at an agent location.
How do I estimate the cost to make a ‘large amount’ money transfer to Saudi Arabia?
Read also: Comprehensive Overview of Egypt
You can use our price estimator tool to work out the cost of sending a large or small amount of money to Saudi Arabia. This provides information on things like transfer fees.
How do I send money online to Saudi Arabia?
To make an online money transfer to Saudi Arabia, just follow these steps:
- Log in to your Western Union® profile or register and verify one for free.
- Begin your money transfer to Saudi Arabia by clicking ‘Send now’.
- Type in ‘Saudi Arabia’ as the destination and how much you wish to send. You’ll be able to view typical transfer times as you make your selections.
- Click on ‘Bank account’. This can then be shared with your receiver in Saudi Arabia to help track the money.
We don’t just serve Saudi Arabia - you can transfer money to more than 200 other countries and territories from the US.
Western Union's Global Reach and Services
The Western Union Company (NYSE: WU) is a leading provider of global money transfer services. Together with its affiliates, Orlandi Valuta and Vigo, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. The Western Union Company, together with its affiliates operates through a network of approximately 300,000 Agent locations in over 200 countries and territories.
As of September 30, 2012, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of approximately 515,000 agent locations in 200 countries and territories. In 2011, The Western Union Company completed 226 million consumer-to-consumer transactions worldwide, moving $81 billion of principal between consumers, and 425 million business payments.
Enhancements and Security
Encryption and fraud prevention are a big focus, helping protect your money transfers.
Key benefits include:
- Transfer money to Saudi Arabia from United States of America 24/7, whether you’re out shopping or on your lunch break.
- Support family back home with quick repeat payments and real-time transfer tracking.
- Set custom exchange rate alerts so you can send USD to SAR at the perfect time.
Many transfers may be available for pickup in minutes, depending on service type, destination, and receiver method. For mobile transactions funds will be paid to receiver’s mWallet account provider for credit to account tied to receiver’s mobile number. Additional third-party charges may apply, including SMS and account over-limit and cash-out fees.
How do I send money to someone with Western Union?
Sending money with Western Union is simple, whether you prefer digital or in-person transfers.
To send money online or in the Western Union® app:
- Register or log in and verify your profile with a driver’s license, passport, or government-issued ID.
- Choose your receiver’s country and how much you want to send.
- Select how they’ll receive the money - cash pickup, bank account, or mobile wallet (where available).
- Enter your receiver’s details.
- Pay for your money transfer service via credit or debit card or with your bank account.
- We’ll provide a tracking number (MTCN) to help you and your receiver track the transfer.
You can also complete a Western Union money transfer at a nearby agent location.
Does Western Union have a digital wallet?
The Western Union® app is not a digital wallet; it’s a money transfer app allowing you to send money, track transfers, and pay bills. You can use the app to send money to mobile wallets in various countries, depending on your receiver’s digital wallet provider.
Western Union provides money transfer services in more than 400 locations in Senegal. Key Senegalese relationships include cooperation agreements with African banking groups Ecobank Transnational Incorporated (ETI), Bank of Africa (BOA) and Banque Régionale de Solidarité (BRS). In Ghana, Western Union's services are available in more than 300 locations through Agricultural Development Bank, Ecobank, Standard Chartered Bank, Trustbank and Barcleys. ADB, Western Union's historical Agent has been instrumental in raising awareness in Ghana of the Money Transfer category.
In Gabon, Western Union cooperates with BGFIBANK, BICIG and La Poste Gabonnaise in over 50 locations, in a successful bid to make Western Union® Money Transfer services easily accessible whenever and wherever they are needed. Western Union has an extensive presence in Tunisia with more than 1,300 locations.
"In Africa, our customers can send and receive money with piece of mind through our ongoing service, product enhancements and increased convenience."
Famous for its pioneering telegraph services, the original Western Union dates back to 1851.
| Country | Number of Locations | Key Relationships |
|---|---|---|
| Senegal | 400+ | Ecobank Transnational Incorporated (ETI), Bank of Africa (BOA), Banque Régionale de Solidarité (BRS) |
| Ghana | 300+ | Agricultural Development Bank, Ecobank, Standard Chartered Bank, Trustbank, Barclays |
| Gabon | 50+ | BGFIBANK, BICIG, La Poste Gabonnaise |
| Tunisia | 1,300+ | Extensive presence |
