D360 Bank
D360, the first Saudi Digital Bank, is launching a banner of change in the banking world in the Kingdom of Saudi Arabia, founded with an insight aimed at reformulating the concept of banking services to suit modern-day needs and customer aspirations, in line with the provisions of Islamic sharia law. Invested in by the financial powerhouses of the Public Investment Fund (PIF) and Derayah Financial Company, D360 Bank boasts a strong foundation with a 1.65 billion Saudi Riyal investment. This bank isn't just about impressive numbers; it's about building a people-centric experience. Backed by a team of financial and investment experts from Saudi Arabia, D360 aims to transform banking with fast, secure, and user-friendly services that align with your individual financial aspirations.
D360 Bank relies on a team of the best local and international expertise who strive to provide a one-size-fits-all banking experience and contribute to upgrading the banking services provided to individual customers, entrepreneurs, SMEs and other segments that need these services in the Kingdom; Using data, advanced technology and digital innovation to contribute to the country's economic prosperity in accordance with the ambitious Vision 2030.
D360 Bank provides a range of services and features that make the banking experience easy and distinctive for users at competitive prices. Among the key services are:
- D360 App: Customers can use the mobile app to manage accounts and track spending.
- Lightning-Fast Account Opening: to Open a brand-new bank account entirely online in less than 2 minutes
- Freedom to manage money: There is no upper limit on any amount in the account, giving customers complete freedom to manage their funds.
- Seamless Digital Experience: Managing your money and conducting financial transactions has never been easier. Utilize D360 mobile app to manage your account and track your spending with a tap.
- Full Commitment to Sharia Compliance: Rest assured that all our products and services are compliant with Islamic principles.
- 24/7 Customer Support: A dedicated customer support team is available around the clock, 7 days a week, to assist you and answer all your inquiries.
D360 Bank distinguishes itself from others by several distinct traits, the most significant of which include:
(The features of the card were obtained directly from D360 Bank to ensure the accuracy of the information as the bank is still in the beta phase).
- Perfect travel card: Enjoy competitive exchange rates with no additional fees on your international purchases and withdrawals, it stands as the best choice for travelers. Meanwhile, some banks charge up to 3.10% for each transaction.
- No ATM Fees: Withdraw cash from any ATM, both domestically and internationally, without incurring any fees during the introductory period.
- Free International Transfers: The bank offers free and instant international transfers to more than 50 countries around the world
- Free Domestic Transfers: Customers can make free domestic transfers to all banks and wallets within Saudi Arabia.
- Complete Spending Control: Set limits for online payments and ATM withdrawals to manage your finances effectively.
- Unlimited Card Control: Set a different limit to your card usage for online and international transaction
- Request Money: Customers can request money through the D360 app, the recipient will receive a notification about your request. They can then either approve the payment and send the money with ease or decline the request if they are not ready to proceed with the payment
- Secure and Speedy Transactions: D360 uses the latest security technologies to ensure the safety of your information and financial transactions.
To get a D360 Bank card, you can sign up for the waitlist by clicking here.
Alongside D360 Bank, there are two additional digital banks that are also licensed by the Saudi Central Bank (SAMA):
- Vision Bank is a Saudi digital bank that serves as a lifestyle partner, providing fully secured digital banking services tailored to the unique needs of individuals and enterprises. As a Sharia-compliant bank licensed by the Saudi Central Bank in June 2021, Vision Bank operates within the regulations set by the Saudi Central Bank (SAMA) with a capital of 1,500,000,000 SAR.
- STC Bank is a digital bank in Saudi Arabia, which is a transformation of Saudi Digital Payments Company - STC Pay, where the company was established in 2018 as a financial services subsidiary of Saudi Telecom Company, offering integrated digital banking services to both corporate and consumer sectors. In June 2021, it obtained an approval to become a digital bank with a capital of 2.5 billion Saudi Riyals. The bank aims to provide advanced and secure digital banking services that cater to the needs and aspirations of its customers. It strives for technological advancement and innovation to achieve this goal.
Prepared by:
Foziyah Alsowailem
Lubna Almudaifer
Reem Aljamaan
Shahad Saad Alwahbi
References:
https://www.youtube.com/watch?v=evwVt_BXrRI
https://www.pif.gov.sa/en/our-investments/our-portfolio/d360-bank/
https://www.visionbank.com.sa/ar