Saudi banks provide account holders with both cheque books and a variety of digital payment services, giving customers flexible options to meet their financial needs.
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How to Request and Use Cheque Books
Requesting a Cheque Book Cheque books, generally available for current accounts, can be requested when opening an account or anytime afterward. Customers can order a cheque book through a bank branch, online banking, or the mobile app. Some banks provide a limited number of free cheques per month, especially for premium accounts, while others may charge per cheque or per book.
Using Cheques Cheques are a formal payment method, ideal for large transactions like business payments, property purchases, or legal settlements. Account holders simply fill in details such as the recipient's name, amount, and date. For added security, some banks offer options like post-dated cheques or verification for large payments. Keep in mind that cheques may take longer to process and clear compared to digital payments.
Digital Payment Options
With advances in digital payment technology, Saudi banks offer secure, convenient options that are quickly becoming the preferred choice for everyday transactions:
Mada Pay Integrated with the national Mada network, Mada Pay enables users to make contactless payments from their smartphones at participating merchants across Saudi Arabia. This digital wallet is widely used for in-store purchases, providing a convenient payment option.
STC Pay Developed by Saudi telecom company STC, this mobile wallet allows users to transfer money, pay bills, and shop online. STC Pay is well-regarded for its user-friendly interface, broad acceptance, and ability to handle international transfers.
Apple Pay Supported by most major banks, Apple Pay lets customers with Apple devices make secure in-store and online payments. Users can link their Saudi bank accounts or debit cards to their Apple Wallet, providing a seamless alternative to carrying physical cards.
These digital payment options enable customers to make secure, real-time payments from their mobile devices. Digital payments offer speed, security, and convenience, making them ideal for both small daily purchases and larger transactions.
Choosing Between Cheque Books and Digital Payments
Cheque books are useful for formal transactions where a traditional payment method is needed, but digital payment services are becoming more popular due to their speed, security, and ease of use. For everyday payments, digital wallets and mobile banking apps provide a faster, more secure alternative to cheques, reflecting the shift toward a digital-focused banking experience in Saudi Arabia.