Revolut is an e-money institution platform that provides a wide range of banking and financial services through its mobile app and web platform. Launched in 2015, Revolut initially started as a service for managing multiple currencies but has since grown into a comprehensive financial platform used by millions of people globally.
Moreover, one of Revolut’s main features is its multi-currency accounts, which allow users to hold, exchange, and spend in various currencies at competitive exchange rates. This service is particularly popular among frequent travelers and those who need to manage money across different countries.
Beyond traditional banking services, Revolut also enables users to engage in cryptocurrency trading, stocks and comodities directly within the app.
In this article, we will uncover Revolut’ availability and expansion plans in Saudi Arabia, as well as provide alternative solutions.
Is Revolut available in Saudi Arabia?
Unfortunately, Revolut is not yet available in Saudi Arabia and it’s currently available in 35 countries. According to their website, Revolut “You can open a Revolut account if you live in a country or overseas territory listed below: Australia, Brazil, European Economic Area (EEA), Japan, New Zealand, Singapore, Switzerland, United Kingdom and United States”.
As the world of digital banking evolves, Saudi Arabia residents looking for sophisticated and user-friendly banking platforms have a variety of options. Revolut has gained popularity in over 35 countries for its innovative features, transparent operations, and a strong commitment to social and environmental responsibility. However, Revolut is not available in Saudi Arabia.
This article explores the best Revolut alternatives accessible to Saudi Arabians who wish to benefit from innovative digital banking services. We will look at the best neobanks and fintech platforms that cater to the unique needs and preferences of Saudi Arabia users, offering features such as low fees, seamless transactions, and comprehensive mobile banking solutions.
Whether you are a seasoned user or just getting started, keep reading to learn about the best options for managing your finances efficiently.
If you would like to read our full review of Revolut just click here!
Revolut Alternatives in Saudi Arabia
In this section, we will be discussing 3 alternatives that share comparable features with Revolut in Saudi Arabia:
- D360 Bank
- Barq
- Meem
D360 Bank
However, if you still have doubts about D360 Bank being the right fit for you, just click here and find out more!
Barq
Barq is a rapidly growing neobank and wallet service based in Saudi Arabia. Launched in 2024, Barq quickly made waves in the fintech world by acquiring over 1 million users within just 21 days of its debut, making it one of the fastest-growing digital banking platforms globally.
Designed to cater to the evolving needs of Saudi Arabia’s tech-savvy population, Barq aligns with the country’s Vision 2030 initiative, focusing on promoting financial inclusion and a digital economy. The platform offers a range of financial services, including secure digital wallet solutions, payments, and banking services driven by cutting-edge technology and AI.
Overall, Barq’s unprecedented early success highlights its role as a significant player in the Middle Eastern fintech landscape, with plans to expand its influence across the region and redefine the digital banking experience.
However, if you still have doubts about Barq being the right fit for you, just click here and find out more!
Meem
Meem is a digital banking platform based in Saudi Arabia, designed to cater specifically to the needs of young, tech-savvy customers.
Launched in 2020, Meem aims to provide a seamless and user-friendly banking experience through its mobile app, offering a wide range of financial services that emphasize convenience, transparency, and innovation.
Overall, its combination of cutting-edge technology, user-centric features, and a commitment to financial empowerment positions Meem as a significant player in the evolving landscape of digital banking in the region.
However, if you still have doubts about Meem being the right fit for you, just click here and find out more!
Final Thoughts
Although Revolut is not accessible in Saudi Arabia, there are still plenty of other options available to assist people in achieving their financial objectives. There are local and global solutions available, each catering to a different desire and set of financial goals.
Having said so, always remember that choosing the best digital bank depends on your personal goals and financial situation, so it’s essential to stay informed about the latest developments and explore the ever-expanding range of financial tools available.
We hope we helped you in your search for the Best Alternatives for Revolut in Saudi Arabia.
Why use a digital bank?
Affordable fees and attractive pricing
With their digital-first approach and reduced operating costs, neobanks often offer highly competitive fees compared to traditional banks. Many neobanks minimize or eliminate fees for services like account maintenance and transactions, and some even provide enhanced interest rates on savings and loans. This cost-efficiency appeals to individuals and businesses focused on maximizing financial value without the typical expenses of traditional banking.
Quick account setup and hassle-free onboarding
Opening an account with a traditional bank is often a slow, paperwork-heavy process. Neobanks streamline this experience by using technology to offer a quick, fully online onboarding. Some even provide instant approval, allowing users to start banking within minutes. This efficiency and ease make neobanks an attractive option for people who want fast, paperless access to financial services.
Intuitive design for easy navigation
Advanced budgeting and financial tracking tools
Neobanks often come equipped with advanced financial tools built right into their apps, giving users insights into spending patterns, budgeting help, and real-time transaction categorization. For businesses, this translates into improved financial control and clear visibility over cash flow. With features like expense tracking and financial analysis, neobanks empower individuals and businesses to make informed, data-driven financial decisions, setting them apart with their strong focus on financial management.
Responsive support and community involvement
Neobanks focus on customer satisfaction with quick, accessible support through multiple channels like in-app chat, email, and even social media. Traditional banks can sometimes have slower, more bureaucratic service, but neobanks use technology to deliver faster, more tailored responses. Many also build a sense of community through online forums and events where users can exchange tips and insights, fostering a collaborative approach to banking.
