SABB becomes first bank to introduce Visa Direct service

Saudi British Bank (SABB) has announced the launch of Visa Direct, a new remittance service, which is a cross border fund transfer service that allows SABB Savings and Current account holders to transfer funds from their banking account to an overseas Visa debit, credit or prepaid card via SABB’s Internet banking platform SABBNet and SABB ATMs across the Kingdom. SABB is the first bank in the Kingdom and the Middle East to launch Visa Direct service.
This Visa Direct service leverages SABB’s successful award-winning digital banking platform as well as Visa’s extensive global reach to offer innovative approach in global payment convenience.
This service is offered to select countries initially — India, Philippines, Sri Lanka, the UK and the UAE and additional countries will be added to this service periodically.
Naif Alabdulkareem, GM, retail banking and wealth management at SABB, said: “VISA Direct service is a great addition to SABB’s remittance proposition where customer will be able to send money instantly. The service will be available 24x7 through our Internet banking and ATM network. This service will not just revolutionize money transfer for sender but will also add convenience for the beneficiary as well.
Ihab Ayoub, Visa GM for MENA, said: “Visa direct is a simple, fast and a secure way for individuals to transfer funds directly to eligible Visa debit and prepaid accounts. We are very excited to launch with our partner SABB the Visa Direct to consumers in Saudi Arabia who are increasingly discerning in their choices. Over the years, Visa has worked closely with SABB to meet and exceed customer expectations, and this new product reflects our commitment to displacing cash by offering innovative payment features.”
This service is being offered free of charge for the first two months up to April 30.