- Supported Modes
- P2P
- Supported Currencies
- SAR
- Network Participant
- Bank
- FX Source
- Live Interbank based rates available 24x7, including off-market hours
- Channels
- All major banks in Saudi Arabia
- Cutoff & delivery timing
-
T+1 credit subject to cutoff of 14:45 local time
- Mandatory data requirements
- Remitter Name Remitter Account Type Remitter Identification Type Remitter Identification Number Remitter Address Remitter Country Code Remitter State Remit Purpose Code Beneficiary Name Beneficiary Account Number Beneficiary Account Type Beneficiary Country Code Beneficiary Address Beneficiary City Beneficiary Postcode Routing Code Type 1 - SWIFT CODE Routing Code Value Remit Purpose Code Remitter DOB Beneficiary Contact Number Beneficiary Identification Type Beneficiary Identification Value Beneficiary Bank Account Type
- Supporting Documents
- Remitter Beneficiary Relationship Nature of Business Duration of Contract Commercial Agreement Current Invoice
- Beneficiary Statement Narrative
-
- Domestic Clearing System limits ability to transfer full remitter information to the Beneficiary.
- Notes
-
The Remitter State field is mandatory only for remitters located in the US or Canada.
| P2P | |
|---|---|
| Min | 0 |
| Max | SAR 15,000 |
- Supported Modes
- B2B, B2P, P2B
- Supported Currencies
- SAR
- Network Participant
- Bank
- FX Source
- Live Interbank based rates available 24x7, including off-market hours
- Channels
- All major banks enabled with SWIFT CODE
- Cutoff & delivery timing
-
Same-day processing subject to cutoff of 7:30 UTC
- Mandatory data requirements
- Remitter Name Remitter Account Type Remitter IDentification Type Remitter Identification Number Remitter Address Remitter Country code Remit Purpose Code Beneficiary Name Beneficiary Account Number Beneficiary Account Type Beneficiary Country Code Beneficiary Address Beneficiary City Beneficiary Postcode Routing Code Type 1 – SWIFT CODE Routing Code Value Remit Purpose Code Beneficiary Identification Value
- Supporting Documents
- Remitter Beneficiary Relationship Nature of Business Duration of Contract Commercial Agreement Current Invoice
- Beneficiary Statement Narrative
-
- Ultimate Sender Name and narrative details will be passed as part of MT103 message to beneficiary bank.
- Details available on beneficiary statement will be dependent on beneficiary bank.
- Proof of Payment
-
MT103 can be considered as a proof of payment and can be provided on request
- Notes
-
Payments to individuals must include the beneficiary's national identification/residence permit number. For corporations include the tax ID or business identification number For WIRES, NIUM supports transactions with SHA Fee Type
| B2B | B2P | P2B | |
|---|---|---|---|
| Min | 0 | 0 | 0 |
| Max | No limit | No limit | No limit |
- Supported Modes
- B2B, B2P, P2P, P2B
- Supported Currencies
- USD, EUR, SGD, GBP, AUD, CAD, HKD, JPY, CHF, NZD
- Network Participant
- Bank
- FX Source
- Live Interbank based rates available 24x7, including off-market hours
- Channels
- All SWIFT enabled banks in the country
- Cutoff & delivery timing
-
Same-day processing subject to cutoff of 07:30 UTC
- Mandatory data requirements
- Remitter Name Remitter Account Type Remitter Identification Type Remitter Identification Number Remitter Address Remitter Country Code Beneficiary Name Beneficiary Account Type Beneficiary Account Number Beneficiary Country Code Beneficiary Address (Recommended) Beneficiary City (Recommended) Beneficiary Postcode (Recommended) Routing Code Value 1 Routing Code Type 1 - SWIFT Code Remit Purpose Code
- Supporting Documents
- Remitter Beneficiary Relationship Nature of Business Duration of Contract Commercial Agreement Current Invoice
- Beneficiary Statement Narrative
-
- Ultimate Sender Name and narrative details will be passed as part of MT103 message to beneficiary bank.
- Details available on beneficiary statement will be dependent on beneficiary bank.
- Proof of Payment
-
MT103 can be considered as a proof of payment and can be provided on request
- Notes
-
WIRES can be sent to all countries except for OFAC listed. MT103 can be provided on request. For foreign currency wire currencies USD, EUR, GBP - NIUM supports both OUR and SHA fee type while for other currencies AUD, CAD, CHF, JPY, NZD, HKD, SGD - NIUM supports only SHA fee type
| B2B | B2P | P2P | P2B | |
|---|---|---|---|---|
| Min | 0 | 0 | 0 | 0 |
| Max | No limit | No limit | No limit | No limit |