Peanut Is Coming to Saudi Arabia
Send money home via SARIE instant transfers. Skip the Iqama requirement. No fees, real market rate.
Saudi Arabia hosts millions of expatriate workers, primarily from India, Pakistan, the Philippines, Bangladesh, and Egypt. Remittance outflows from Saudi Arabia are among the highest globally — workers send money home to support families, pay school fees, and cover daily expenses. Traditional remittance services charge significant fees on these corridors, and the process often takes days.
Saudi Arabia's financial infrastructure is modernizing rapidly under Vision 2030. SARIE (Saudi Arabian Riyal Interbank Express) enables instant bank-to-bank transfers across all Saudi banks, 24/7/365. Mada (the national debit card network) and STC Pay are growing fast. But most financial services require an Iqama (residence permit for expatriate workers) or Saudi National ID, leaving many without easy access to the local financial system.
Peanut will change that. When SARIE integration launches, you will be able to send money from Saudi Arabia to anyone in the world — and receive transfers directly into the Saudi banking system — without the friction of traditional remittance services. The Saudi riyal is pegged to the US dollar at 3.75 SAR per USD, providing exchange rate predictability for senders and recipients.
How It Will Work
- 1
Deposit funds
Add money to your Peanut balance by sending digital dollars from any exchange. All deposits are free and arrive in minutes.
- 2
Your balance stays in digital dollars
Your funds will be held in digital dollars until you are ready to send or withdraw. The SAR-USD peg means predictable conversion when you are ready.
- 3
Send via SARIE
When Peanut integrates SARIE, you will be able to send riyals directly to any Saudi bank account via instant transfer, 24/7/365.
- 4
Send money anywhere
Share a Peanut Link with anyone in the world. They claim the funds and withdraw locally — via bank transfer, Pix in Brazil, Mercado Pago in Argentina, or their preferred method.
What Payment Methods Are Coming
SARIE
SARIE (Saudi Arabian Riyal Interbank Express) is Saudi Arabia's national real-time payment system, enabling instant bank-to-bank transfers across all Saudi banks, 24/7/365. SARIE is a key pillar of the Kingdom's digital payments infrastructure and supports Vision 2030's goal of reaching 70% non-cash transactions.
When Peanut integrates SARIE, you will be able to send riyals instantly to any Saudi bank account. This means faster access to funds for recipients and a direct path for workers to move money into and out of the Saudi banking system. The recipient will see a normal SARIE bank transfer.
Info
What to Expect
The Saudi riyal is pegged to the US dollar at a fixed rate of 3.75 SAR per USD. This peg provides exceptional exchange rate predictability — unlike floating currencies where rates fluctuate daily. When you convert digital dollars to riyals through Peanut, you benefit from this stability.
Traditional remittance services from Saudi Arabia charge fees on every transfer, and the exchange rates offered for INR, PKR, PHP, and other destination currencies often include significant markups. Peanut will deliver funds at the real market rate with no fees on either end.
Who Will Use Peanut in Saudi Arabia
Expatriate Workers Sending Money Home
Saudi Arabia's expatriate workforce numbers in the millions. Workers from India, Pakistan, the Philippines, Bangladesh, and Egypt send money home regularly to support families. Traditional remittance services charge 2-5% in combined fees and exchange rate markups. With Peanut, you will send at the real market rate with no fees — and the recipient will receive funds instantly in their local currency.
Families Receiving Remittances from Saudi Arabia
On the receiving end, Peanut makes claiming money simple. Your family member in Saudi Arabia sends you a Peanut Link. You tap it, claim the funds, and withdraw to your bank account or local payment system. The money arrives instantly at a better rate than what traditional services offer.
Business Travelers
Saudi Arabia's growing economy attracts business travelers from around the world. Peanut will let you move money into and out of the Saudi banking system quickly and cheaply — without the overhead of traditional wire transfers.
Get Notified
Peanut is not yet live for SARIE transfers in Saudi Arabia, but you can already deposit and withdraw digital dollars today. When SARIE integration launches, you will be among the first to use it.
Sign up now to get notified when Peanut launches in Saudi Arabia. Verification takes under two minutes with your passport or national ID — no Iqama required.
