✅ Fixed exchange rate for the US dollar, set at SAR 3.75 and locked in at the moment the card is issued
✅ Ability to load multiple currencies — US dollar (USD), British pound (GBP), euro (EUR), Bahraini dinar (BHD), UAE dirham (AED), and Turkish lira (TRY)
✅ Compatible with Apple Pay and Mada Pay for contactless payments
✅ Accepted at ATMs and card machines in most parts of the world
Why does Utua recommend the Currencies Prepaid Card?
Traveling outside Saudi Arabia usually comes with a recurring question: how do you handle currency exchange without losing money to abusive fees or taking risks by carrying cash? The Currencies Prepaid Card, from Riyad Bank, is a multi-currency prepaid card designed exactly for that kind of need.
With it, you can load different currencies before your trip and use the balance at ATMs and card machines around the world, with a fixed exchange rate agreed at the moment the card is issued. But before we look at the advantages of getting one, let’s first understand what a prepaid card actually is.
What is a prepaid card?
A prepaid card such as the Currencies Prepaid Card works quite differently from a traditional credit card. Instead of the bank releasing a credit line for expenses to be paid later, the customer loads the card in advance with the amount they intend to use. This means there is no built-in financing, no monthly profit rate charged (the equivalent of an interest rate at Islamic banks), and spending is always limited to the available balance.
This logic makes a prepaid card an interesting tool for anyone who wants more control over their travel budget, since it isn’t possible to spend beyond what has been loaded. It also tends to be simpler to apply for than a credit card, because the bank isn’t taking on the risk of extending credit — the money already belongs to the customer.
Benefits of the Currencies Prepaid Card
Among the main benefits of the Currencies Prepaid Card is the fixed exchange rate for the US dollar, set at SAR 3.75 and locked in at the moment the card is issued, along with the ability to load multiple currencies — US dollar (USD), British pound (GBP), euro (EUR), Bahraini dinar (BHD), UAE dirham (AED) and Turkish lira (TRY). On top of that, users can easily add the card to their digital wallet, since it’s compatible with Apple Pay and Mada Pay for contactless payments.
As for acceptance specifically, the bank states that the Currencies Prepaid Card can be used at ATMs and card machines in most parts of the world. Because it’s issued on the Visa network, you’ll likely have no trouble using it internationally, since Visa has global acceptance.
Fees and costs
One of the most important points when evaluating any prepaid card is understanding exactly what it costs day to day. The Currencies Prepaid Card charges an issuance fee of SAR 75 and an annual fee of SAR 75, plus a SAR 50 fee if you need to request a replacement card. For transactions in currencies outside the six available on the card, a 2.75% exchange fee applies to the transaction amount.
There are also specific costs for ATM withdrawals: SAR 30 for withdrawals inside Saudi Arabia and the equivalent of SAR 40, in the destination country’s currency, for international withdrawals. A positive point is that, being a prepaid card, there’s no monthly profit rate or hidden interest charged on the balance used — the customer is always spending their own pre-loaded money, which brings more transparency compared to credit products.
Our team’s opinion to support your decision
The Currencies Prepaid Card tends to be a good option for anyone who travels frequently outside Saudi Arabia, whether for work, study or leisure, and wants to avoid the exposure of carrying cash or relying solely on an international credit card. Being able to lock in the dollar exchange rate at the time of issuance also helps travelers plan their budget with more predictability, since the loaded amount doesn’t face further exchange-rate swings within that currency.
Another point in its favor is how simple the application process is: since no credit is being extended, the process tends to be more straightforward than for a conventional card, and it can be requested directly through the Riyad Bank app or Riyad Online. This makes the Currencies Prepaid Card an accessible option both for customers who already bank with Riyad Bank and for those looking for a practical currency-exchange solution without relying on travel agencies or physical exchange bureaus.
On the other hand, a few points deserve attention: the six available currencies may not cover every travel destination, which triggers the 2.75% fee for additional conversions, and the combined issuance, annual and replacement fees can add up for someone who uses the card only occasionally. It’s also worth remembering that, being prepaid, the card requires advance planning — it can’t be used beyond the loaded balance, which can be a limitation in emergencies.
I want to apply for the Currencies Prepaid Card
Anyone who is 18 years old or older and agrees to Riyad Bank’s terms and conditions can apply for the Currencies Prepaid Card directly through the Riyad Mobile app or the Riyad Online platform. Before confirming your application, it’s advisable to review the updated terms directly with the bank, since fees and rules may change.
Before submitting your application, click the button below to see the card’s conditions, including the requirements and more details about the application process. On the next page, we’ll share more advice to help you plan even further with this tool.
Rede Utua is not a financial institution and does not issue credit cards or loans. Our role is to review financial products available in the Saudi market to help you make a more informed and conscious decision. Any application is made directly with the financial institution of your choice.
