SA · SAR

Saudi Arabia digital banks

Barq is Barraq Finance Company, a SAMA e-wallet (Decision 26/M SM/1445). Its own copy says it is not a bank account. D360 Bank is a SAMA digital bank (CR 1010822737, capital SAR 2.1bn). STC Bank is the former stc pay / Saudi Digital Payments Company, now a SAMA digital bank. Vision Bank Closed Joint Stock Company (CR 1010850478, capital SAR 1.5bn) received SAMA’s non-objection to commence operations on 15 September 2025. meem is Gulf International Bank’s skin. Keep salary at a SAMA bank, not at Barq.

5Live on NeoBankDB

Regulator

Saudi Central Bank (SAMA)

Deposit scheme

SAMA bank deposits follow the kingdom’s bank scheme. SAMA e-wallets are a different recovery story

In this market

Licence still sits on the product

Product	Score	HQ	Monthly	FX	Users	Licence
D360 Bank	6.9	Riyadh, Saudi Arabia	Confirm live — fees page on d360.com/en/services-fees	Bank FX	Saudi digital bank	Licensed digital bank — closed joint stock company
STC Bank	6.9	Riyadh, Saudi Arabia	Confirm live in the STC Bank app	Confirm live	stc pay base converting to bank	Licensed digital bank (formerly Saudi Digital Payments Company / stc pay)
meem	6.8	Dhahran / Riyadh, Saudi Arabia	Digital SKU — confirm live	Bank tariff	GIB digital	Digital brand of Gulf International Bank — Saudi Arabia. Not a separate SAMA digital-bank licence
Vision Bank	6.8	Riyadh, Saudi Arabia	Confirm live on Fees & Charges	Bank FX	Saudi digital bank	Digital bank — Vision Bank Closed Joint Stock Company
Barq	6.7	Riyadh, Saudi Arabia	Wallet SKU — confirm live	International transfers are a product — spread exists	1M in 21 days at launch (claimed)	E-wallet — Barraq Finance Company (Decision 26/M SM/1445). Not a bank