American Express Saudi Arabia, the joint venture between Amex and Saudi Investment Bank, has signed a strategic agreement with Alrajhi Bank allowing its Cardmembers to access the ATM terminals of the latter for cash withdrawals.

With the formalization of the agreement, American Express has added more than 4,500 ATM terminals to its growing network, enabling its customers to enjoy seamless ATM services across the Kingdom.

The agreement aims to meet the financial services need of American Express Saudi Arabia’s Cardmembers and underscores the financial institution’s unwavering commitment to enhancing its customer experience by expanding cash withdrawal operations. It is also consistent with the bank’s comprehensive strategy to enhance its presence and diversify its services and products in KSA.

Mr. Waleed Al Mogbel, MD & CEO at Alrajhi Bank, said that “The agreement directly aligns with Alrajhi Bank’s strategic objective of achieving sustainable growth in line with the Kingdom’s Vision 2030. It exemplifies our unwavering dedication to consistently provide value to our customers, while harnessing financial expertise and innovation to meet the market’s ever-evolving needs.”

The agreement signifies strengthening of partnership between American Express Saudi Arabia and Alrajhi Bank. Both entities had previously entered into an agreement last year, allowing Alrajhi Bank’s POS network to accept payments made using American Express cards. American Express Saudi Arabia has been actively expanding its merchant network by partnering with prominent financial institutions and fintech companies.