Just landed - wondering what gives the better rate in Saudi Arabia: ATM withdrawal or airport exchange counter?
I landed in Madinah for a religious trip and didn’t want to mess with ATM errors so I changed 100 GBP at the airport exchange. The rate was terrible and they charged a surprise service fee too. The next day I went to a NCB ATM near the Haram and used my Monzo Mastercard - the rate was way better and even with a 15 SAR ATM fee, I got more money for the same amount. From my experience, airport currency counters in Saudi Arabia are only for emergencies. Plan to use an ATM from a major bank like SNB Al Ahli or Al Rajhi once you’re in the city.
I just did this comparison in Dammam. I exchanged some cash at the airport to cover my first taxi and meal, then tried an ATM the next morning at a SABB branch. My Australian ANZ debit card gave me close to real exchange rate through the ATM, while the airport counter gave me about 8 percent less value. Even after the ATM fee, I came out ahead. Just be careful not to choose “charge in your home currency” when using ATMs, always pick local currency (Saudi Riyals) and let your own bank do the conversion
I was in Riyadh International Airport last month and needed cash right away so I exchanged 50 euros at the Travelex counter. They charged a flat fee plus gave a horrible rate. I think I got around 170 SAR when my Revolut app showed I should have gotten close to 190. Later that day, I withdrew cash from an Al Rajhi ATM with my French BNP card and the difference in exchange rate was massive - much closer to market rate. So yeah, ATMs in Saudi Arabia are way better than airport exchange desks, as long as you use a card that doesn’t add foreign transaction fees.
Just landed at King Abdulaziz Airport in Jeddah a few weeks ago and went straight to the airport exchange counter to get some cash. Regretted it instantly. They gave me 3.39 SAR for 1 USD when the mid-market rate was around 3.75. I only exchanged 100 dollars so the loss wasn’t huge, but it still stung. I tried a Banque Saudi Fransi ATM outside Arrivals an hour later using my Barclays Visa debit card, and got a much better rate with only a small ATM fee. If you want value, use ATMs, not airport currency booths. Just make sure to decline conversion when the machine offers it.