Saudi Arabia Approves Bank Accounts for Tourists Using Visitor IDs
The Saudi Central Bank (SAMA) has officially approved the use of the Visitor ID to open bank accounts across the Kingdom, marking a major policy shift that will benefit tourists, pilgrims, and other short-term visitors.
The Visitor ID, issued by the Ministry of Interior, is now recognized as an official identification document that can be verified through authorized digital platforms. This approval allows licensed banks to onboard visitors in compliance with existing regulatory requirements, giving tourists greater access to financial services during their stay in Saudi Arabia.
According to SAMA, the update is part of its periodic review of account-opening regulations, aimed at keeping pace with evolving financial and regulatory developments. The central bank explained that the change will facilitate banking procedures, expand access to new consumer segments, and enhance the overall visitor experience.
Financial experts see the decision as a key step toward promoting financial inclusion and supporting Saudi Arabia’s digital transformation agenda in the banking sector. By making it easier for visitors to access accounts, the Kingdom is strengthening its efforts to attract more tourists, boost business travel, and align with the goals of Vision 2030.
While the move has been widely welcomed, banks are still expected to apply additional checks such as proof of address, minimum deposit requirements, and anti-money laundering measures to ensure compliance. Industry analysts note that full implementation may be gradual, as banks update their systems and processes to accommodate the new rule.
The reform is expected to make travel and business in Saudi Arabia more convenient, enabling tourists and visitors to manage local transactions more effectively, from making payments to conducting transfers. It also highlights the Kingdom’s growing reliance on digital identity platforms as a backbone for modern financial services.
— NsemGh News Desk
