Local transfer through SARIE Service 🔜
What is Sarie service?
SARIE is an electronic payment system that SAMA made available to the banks operating in KSA to process customers’ instructions to transfer funds in SAR in favor of accounts held with other local banks.
What are Sarie’s features?
This service allows customers to transfer funds in Saudi Riyals between accounts opened in local banks in a secure environment.
Some of its benefits are:
Secure means to transfer funds the same day within SARIE cut-off timing.
A secure alternative to payments made by cash, cheques, or bank drafts.
Automated money transfers using IBAN account numbers guarantee receipt of funds by the beneficiary.
Lower financial risks are achieved by eliminating the need for carrying cash.
Transfer to local banks 24 hours a day, 7 days a week (24/7)
Immediate arrival of the transfer amount to local banks for the beneficiary.
The possibility of executing the transfer using the mobile number, ID number, email, or IBAN number
The possibility of executing the transfer without the need to add the beneficiary
Normal transfer limits through saved or added Beneficiary
The maximum limit for instant transfers to saved or added beneficiaries is SAR 20,000, Knowing that the maximum limit for a Tweeq account is SAR 20,000.
Quick Transfers Limits (without beneficiary activation)
The Users will have the utility to make quick transfers by entering the Beneficiary’s IBAN, mobile number, ID number, and email without creating and activating the beneficiary beforehand. The maximum transfer limit for this service is SAR 2500
What is the Maximum amount that can be sent to the Tweeq account?
How long the transactions between Tweeq accounts will take?
This type of transaction only takes a few seconds
Is there a daily limit for SARIE transactions?
Limits for Quick Transfers for unadded beneficiaries is 2,500sr, and to the added beneficiaries is 20,000