Current Account

Riyad Bank Current Account has many uses and is the gateway product to a full range of other banking services we have to offer.

The current account has been designed to provide you with a product or mechanism which will assist you in managing your organization’s finances by allowing you instant access to make payments, monitor, and track funds whilst managing a host of other banking services that are available for you.

• Easy to monitor transactions
• Free access to Riyad Online
• Free alert notifications
• Keeps your cash safe and secure
• Available to all Riyad Bank customers

Committed to providing our customers with the latest banking updates and procedures to help them safely manage their banking accounts and transactions.
And in line with the Saudi Central Bank guidelines, we would like to inform you that accounts will be managed according to the cases described below and related circular will be applied.

Active accounts:
Transactions are considered Active if the last financial transaction (withdrawal or deposit – depending on the nature of the relationship) executed by the customer himself, his authorized representative, or his registered heirs have not been more than twenty-four (Gregorian) months, registered or by a reliable and documented correspondence.

Dormant accounts:
Transactions are considered Dormant if they have completed a period of twenty-four (Gregorian) months starting from the date of the last financial transaction (withdrawal or deposit – depending on the nature of the relationship) made by the customer himself, his authorized representative, his registered heirs, or a reliable and documented correspondence.

Unclaimed accounts:
Transactions are considered unclaimed if they have completed a period of five (Gregorian) years, sixty months including the dormant accounts period from the date of the last financial transaction (withdrawal or deposit - depending on the nature of the relationship) carried out by the customer himself, his authorized agent, registered heirs, or a reliable and authenticated correspondence. And the bank was unable to find the customer and exhausted all means of contacting him.

Abandoned accounts whose owners have cut off from the bank:
Transactions are considered abandoned and their owner has cut off from the bank if they complete the number and time stages described in this paragraph as of the date they are classified as unclaimed accounts.  The banks were absolutely unable to infer the existence of the account holder through the movement of his accounts or other dealings with the bank, and all means of communication with him were exhausted in accordance with the communication policy and procedures.

Then, Corporate Banking Customer Service will provide the customer with the Account Number after reviewing the documents and making sure everything has met the requirements.