How to easily open a bank account for your online store in Saudi Arabia

Sahl Tuesday,18 Mar 2025

If you run an online store in Saudi Arabia, opening a business bank account is an essential step to ensuring the success of your business. A business bank account helps you manage revenue, receive payments from customers, and easily connect your store to online payment gateways. In this blog, we'll walk you through the steps to open a bank account for your online store and the necessary requirements.
1. The Importance of Opening a Bank Account for Your Online Store
Having a business bank account offers several advantages, such as effectively managing cash flow, receiving payments from payment gateways, issuing professional invoices, and enhancing your store's credibility with customers and partners. It also makes it easier to separate your personal and business expenses.
2. Basic Requirements for Opening a Business Bank Account
Before you begin, ensure you have the following documents:
• Commercial registration for the online store (available through the Meras platform)
• National ID or residency for the business owner
• Tax number (if required)
• Company articles of association (if you have a partner)
• Contact information and national address
• Simplified business plan for the store's activity (some banks may require this)

3. Choosing the Right Bank
There are several Saudi banks that offer business accounts specifically for online store owners, such as:
• National Commercial Bank
• Al Rajhi Bank
• Riyad Bank
• Banque Saudi Fransi
• Alinma Bank
It is recommended to compare the services offered by banks, such as account fees, availability of an electronic payment gateway, online store support, and financing services.
4. Steps to Open a Bank Account
1. Apply online via the bank's website: Some banks offer the ability to open an account online without the need to visit a branch.
2. Visit the branch (if necessary): In some cases, you may need to visit a branch to complete the procedures.
3. Submit the Required Documents: Ensure all your documents are ready to facilitate the process.
4. Activate the account and link it to your online store: After opening the account, you can link it to payment gateways such as Moyasar, PayTabs, HyperPay, or STC Pay.
5. Link your bank account to payment gateways
To receive payments through your online store, you need to choose a suitable online payment gateway and link it to your bank account. Saudi banks offer partnerships with several platforms, so it's best to check the details with your chosen bank.

6. Tips for the financial success of your online store
• Ensure you manage cash flow regularly to avoid any financial problems.
• Use bank account reports to track sales and spending.
• Consider opening a business savings account to invest profits and grow your business.
• Inquire about the financing solutions banks offer to help you expand your store.
Opening a business bank account for your online store is a necessary step to streamline payment processes and manage funds efficiently. By following the right steps and choosing the right bank, you can ensure a seamless experience for your customers and boost the success of your store in the world of e-commerce. Start today by opening your bank account and prepare for growth and expansion!