FAQs - Bareini Dinar - Saudi Riyal
Do you want to change your Bareini Dinar into Saudi Riyal but still have doubts? Find your answers here or else contact us, we are ready to help!
1) What is the exchange rate from Bareini Dinar to Saudi Riyal? You can check the exchange rate for today on this website or in any of our branches. Remember, it is always more advisable to book online and collect and pay at the airport the day you travel.
2) Will I be charged a commission for changing my Bareini Dinar into Saudi Riyal? Currently we apply 3 BHD (with 5% VAT included) of service fees in all the foreign currency transactions including the US Dollar (USD).
3) Do I get the same Bareini Dinar to Saudi Riyal exchange rate in this website or in any of your branches? Yes, the exchange rate we offer on our website is the same as the rate we offer in our branches at Bahrain.
4) Where can I collect the Saudi Riyal I ordered online? After placing your online order, you'll be able to collect it and pay for it at any of our branches in Bahrain. This service allows you to save time and reduce anxiety, as you will have the currency you need ready for your trip abroad.
5) Why does the Bareini Dinar to Saudi Riyal exchange rate seem cheaper and more attractive in the Internet than in exchange businesses, including Global Exchange? The exchange rates you can see on your mobile phone come from Internet currency converters. These rates are for currency wholesalers (foreign exchange transactions for financial and international trade companies), not for the public. Those cheaper rates are for the foreign exchange operations (FX market), not for currency exchange operations cash-to-cash. For this reason, in the companies that offer the service of change you will never find the same change published in the converters but the one that each company has fixed according to the characteristics of their service.
6) What is the difference between foreign exchange and currency exchange? Foreign exchange (Forex or FX, for short) is the market that establishes the value of the currencies in which international transactions will be performed, at a wholesale level. Currency exchange, on the other hand, is the market in which individual currencies are sold in retail on a certain price depending on demand. Currency exchange entails cash transactions, thus adding logistic costs, and therefore their exchange rates are somewhat "worse" than the Forex rates, which only move money between accounts.
7) What is the difference of changing my Bareini Dinar to Saudi Riyal with you or at a bank? Banks charge a margin, plus a commission and you have to visit them at least twice: to order the money and to collect it. At Global Exchange you can order online and collect and pay your currency at the airport before you fly. Therefore, the online price is lower than the one you get when you change in person at the airport (you get more foreign currency for the same amount you pay).
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