How to Use Sadad Account:
To guarantee getting the amounts in exchange for the services provided as a merchant, you can give customers your Sadad Account to use for direct payment. Funds will be deducted from the customer account and deposited in the merchant’s account. This guarantees tracking of your sales and an easy and safe way for transfers between the merchant and the customer.
Ability to inquire, view and download transaction list for the account
Raise a refund request with a specific amount from a transaction
Raise and track a complaint
Dispute resolution and track case
Open a current account at Riyad Bank
Obtain a Commercial Register (CR)
Activate the Riyad Online account
Create a username (alias) and password in the registration screen then use the authentication code to confirm registration
Setting up an E-Commerce Store:
The merchant must provide the necessary documents to Riyad Bank. The bank then proceeds to finish the registration process and links the website with Sadad. Sadad then provides a merchant ID and activates the Sadad Account service for the merchant on the website.
How to Apply:
Call us on (+966) 920002470 or visit your nearest Riyad Bank branch.
Frequently Asked Questions:
Is Sadad Account secure?
Yes, SAMA and Sadad have offered this service to provide safe and secure methods for dealing between the merchant and the customer accounts.
Why do I need to have a Sadad Account?
- To guarantee that you receive payments in exchange for the services/goods provided in the fastest possible way without the need to provide customers with the account numbers and wait for time-consuming transfers; or in case the customer cancels the order because of the inability to transfer from one account to another which may cause financial loss
- To track and view online orders without the hassle of contacting the customer/buyers using traditional ways
Can I register in Sadad Account twice through Riyad Bank as a consumer/merchant?
Yes, you can because the service is in separate accounts.
Can I register as a merchant in more than one bank?
No, you have to have one account only in one bank as a customer or merchant.
Can I register using the same commercial register (CR) number at more than one bank?
Can a merchant move from one bank to another?
Yes, if the merchant closes his account at the first bank and opens a new account at a different bank.
Can the merchant register as a customer?
Yes, the system will then consider the merchant as a customer.
When do funds get transferred from the bank to the merchant?
Maximum by end of next working day
However, if a transfer was made during a weekend or an official holiday, then the bank will transfer the funds on the first working day after the holiday