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Open Account with Bank Albilad & Ministry of Commerce

Open Account with Bank Albilad & Ministry of Commerce


In pursuit of achieving the vision of 2030 and being of the pioneers in Digital Banking, Bank Albilad provide bank account opening service Digitally for Establishments, without the need to provide any documents or visiting the branch. Bank Albilad provides this service through Ministry of Commerce portal to provide customers with all needed services that is needed to start your business in one day

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Benefits of the current account:



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What is required to open SME account online? 


  • Valid personal email address to receive all banks communications.
  • Saudi National Address, and if not registered please click here to get an address.
  • A valid Mobile number and active Commercial Registration owned by you.
  • Finally, you should be registered for National IAM Platform to be able to authenticate your account opening form, if not registered please click here.

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FAQ


What is the SME account opening service through Ministry of Commerce?

Establishments account opening service through Ministry of Commerce is a government program launched by (Tayseer) Committee as part of Saudi Vision 2030, which provides all government and private sector services that is needed to start your business in one day. Ministry of Commerce provides a high-quality integrated service through an online and physical One-Stop-Shop centers.
It is a service that allows Establishments owners to create a CR Digitally, with Bank Albilad service the customer then creates his bank account at the same time without the need to visit the branch.

If an establishment has an account. Can it open another account using the service?

The service is provided only to new customers with no accounts.

What are the conditions for opening a current account for SME’s?

  1. Having an active commercial registration number for Establishment.
  2. The ID of the owner to be active and not expired.
  3. Having a national address for Establishment.
  4. For the owner to have an ABSHER account.

What are the required documents for the account opening?

There are no required documents to be attached for opening the current account.

What are the steps for opening an account Digitally for SME’s through Ministry of Commerce and Investment portal?

  • Customer should access Ministry of Commerce (MC) portal and create a commercial registration Digitally.

After his commercial registration is created, then customer will be able to open his corporate account in bank Albilad from MC portal:
  • Customer selects Bank Albilad as one of the banks listed for opening the account digitally.
  • Customer will fill the account opening form and submit his application
  • Customer will authenticate the account opening by utilizing ABSHER credentials through national single sign-on (IAM service).
  • Account is created and welcoming SMS will be sent to the customer upon creating the account successfully.

What are the services that are available to the accounts that has been opened Digitally?

  • Registration in the Business Electronic Banking services 
  • Choosing a security pin for transactions and security questions for more safety 
  • Issuing a business MADA card and receiving it through courier between 5 – 7 business days 
  • SADDAD & MOI payments.
  • Transferring between accounts within Bank Albilad.
  • Transferring between local banks.
  • International transfers.
  • Cash deposit and withdrawal through the ATM’s with MADA card.
  • Account statement (MT-940).
  • POS services.
  • E-Commerce transactions statements.
  • User management.
  • And many more services provided to corporate customers.

What are the types of accounts that SME’s can open Digitally?

Current accounts.

What is the address that is required for the account creation?

Establishment’s national address.

In case of the customer receiving a SMS that states to visit the branch, what is the followed procedure?

In that case, the customer cannot open an account Digitally, he must visit the branch to complete the account creation process.



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All Rights Reserved © 2024 Bank Albilad is a Saudi joint stock company, with National Unified No. 7001473102, Head Office: Al Mutamarat 8229, Building No 2, RIYADH 3952 - 12711, KSA. Under monitoring and supervision of Saudi Central Bank and licensed by Royal decree 48/M on 1425/9/21H (4/11/2004 G).


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