Fawri is a well-known money transfer service in Saudi Arabia, offering competitive exchange rates and low fees for international remittances. Established in 2013, Fawri has been providing reliable money transfer and currency exchange services to millions of satisfied customers. With over 43 centers across major cities in Saudi Arabia, Fawri ensures that your money is in safe hands, offering special rates and the lowest service charges.
Today’s Exchange Rates
As of February 24, 2025, the exchange rates for some popular currencies are as follows:
- Saudi Riyal (SAR) to Philippine Peso (PHP): 1 SAR = 15.4318 PHP
- Saudi Riyal (SAR) to Indian Rupee (INR): 1 SAR = 22.90 INR
Please note that exchange rates fluctuate regularly due to market conditions. It’s advisable to check the latest rates before making a transaction.
How to Use Fawri’s Services
Fawri offers a range of services to cater to your money transfer needs:
To utilize Fawri’s services, you can visit any of their centers located across Saudi Arabia. For added convenience, Fawri also offers online services through Bank AlJazira’s electronic channels, including AlJazira Online, AlJazira SMART, and AlJazira ATMs. This allows you to transfer money easily and instantly to more than 400,000 locations worldwide.
- International Remittance: Send money internationally online or in person for cash pick-up or direct bank deposits. Fawri provides great exchange rates and low fees, ensuring more of your money reaches your loved ones overseas.
- Currency Exchange: If you’re traveling abroad for business or leisure, Fawri offers competitive rates for foreign currency exchange, ensuring you get the best value for your money.
Important Considerations
While Fawri strives to offer the best rates and services, it’s important to be aware of the following:
- 1. Exchange Rate Variations
Exchange rates fluctuate constantly due to changes in the foreign exchange market. Several factors influence these fluctuations, including:
Economic conditions: Inflation, interest rates, and economic stability affect currency values.
Demand and supply: Higher demand for a currency increases its value, while lower demand decreases it.
Global events: Political events, trade agreements, and natural disasters can impact currency exchange rates.
Tip: Before transferring money, always check Fawri’s official website or visit a Fawri branch to confirm the most up-to-date exchange rates.
2. Service Charges & Transfer Fees
Fawri is known for offering low fees, but transfer charges may vary based on several factors, such as:
Destination country: Some countries may have higher fees due to banking regulations.
Transfer amount: Higher transfer amounts may have a slightly different fee structure.
Transfer method: Sending money directly to a bank account may have different fees compared to a cash pick-up transfer.
Tip: Always inquire about the total cost of your transaction before proceeding. Hidden fees or additional charges from receiving banks may apply.
3. Transaction Speed & Processing Time
The speed of your transfer depends on various factors:
Bank processing times: Some banks process international transfers faster than others.
Time of transfer: Transactions done on weekends or public holidays may be delayed.
Method of transfer: Cash pick-up transactions are usually instant, whereas bank deposits can take longer.
Tip: If your transfer is urgent, consider using cash pick-up services for quicker availability.
4. Identification & Compliance Requirements
Fawri follows strict security measures to prevent fraud and money laundering. To make a transfer, you may need to provide:
A valid ID or residency permit (Iqama for expatriates in Saudi Arabia).
Bank details of the recipient (for bank transfers).
Additional verification documents for large transactions.
Tip: Keep your identification documents ready to avoid delays. Always ensure that the recipient’s details are correct before confirming the transaction.
5. Daily Transfer Limits
Fawri has a limit on the amount of money you can send in a single transaction or within a day. These limits vary depending on:
The country you are sending money to.
Saudi Arabian monetary regulations.
Your personal transaction history with Fawri.
Tip: If you need to transfer a large amount, check the daily limit in advance. You may need to split the transfer over multiple transactions or provide additional documentation for approval.
6. Security & Fraud Prevention
With the rise in online fraud and scams, it’s essential to protect yourself when making international transactions.
Never share your transaction reference number with anyone except the intended recipient.
Be cautious of scam calls and emails claiming to be from Fawri.
Always verify the recipient’s details before confirming the transfer.
Tip: Use only official Fawri branches or Bank AlJazira’s digital platforms to make transactions. Avoid third-party agents offering “special rates,” as they may be fraudulent.
Conclusion
Fawri continues to be a trusted choice for individuals seeking reliable and cost-effective money transfer services in Saudi Arabia. With competitive exchange rates, low fees, and a wide network of centers and online platforms, Fawri ensures your money reaches its destination safely and efficiently. Always remember to verify the latest exchange rates and service charges before making a transaction to ensure you get the best value for your money.
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