alrajhi bank Debuts the Kingdom’s First Account Funding Service (AFT) via Visa Cards

alrajhi bank, in strategic collaboration with Visa, today announced the launch of Visa’s Account Funding Transaction (AFT) capability in the Kingdom of Saudi Arabia. This launch marks the first time the service is available in the Kingdom, responding to rising demand for faster, more secure, and seamless funding experiences.

 

The AFT capability enables holders of issued Visa cards to transfer funds directly into Saudi-based digital wallets, bank accounts, and investment platforms, including alrajhi capital. The service supports real-time processing, strong security controls, improved transparency, and clearer tracking across the funding journey.

 

This milestone strengthens alrajhi bank’s position as a leader in advanced digital financial solutions and supports the Kingdom’s ambition to grow as a global financial hub. The initiative aligns with Saudi Vision 2030 priorities to accelerate digital transformation, widen financial inclusion, and make it easier for international investors, residents, and visitors to access the Saudi financial ecosystem.

 

AFT enables several practical use cases across customer segments. Visitors can fund local digital wallets shortly after arrival using international Visa cards. Expatriates relocating to the Kingdom can transfer personal funds into local bank accounts with greater speed and convenience. Investors can also fund trading and investment accounts more efficiently, helping them act on market opportunities sooner.

 

Hussein Bayari, General Manager of Corporate Banking Group at alrajhi bank, said, “alrajhi bank’s launch of this unique service in the Kingdom is not only a technological first, it reflects our commitment to customer focused solutions that put customer needs first. We are not simply enabling account funding, we are building a secure digital bridge that connects international investors and users with the Saudi economy. This step supports the Kingdom’s digital ambitions and reinforces our position as a leading financial partner driving banking transformation and financial inclusion.”

 

Ali Bailoun, Senior Vice President and Group Country Manager for Saudi Arabia, Bahrain, and Oman at Visa, said, “AFT is a major step forward in how money moves into the Kingdom. As Saudi Arabia continues to attract global investors and accelerate its digital transformation, we remain focused on enabling secure, low friction experiences that meet the needs of a fast-growing international customer base. Whether funding a digital wallet, moving personal savings, or accessing local investment opportunities, Visa Direct’s AFT provides strong reach, reliability, and speed for global users.”

 

The launch builds on the long-standing strategic collaboration between alrajhi bank and Visa. Both parties remain committed to delivering innovative payment solutions that support the growth of digital payments and contribute to the next chapter of financial services in the region.