Open a QAR Account - Qatari Riyal

Opening an account is very simple.

1. Send us your request to open a QAR account via the form on the left or through the account opening form. We will contact you to schedule a phone call to better understand your needs regarding QAR flows.
2. Following this discussion, we will assist you with the administrative formalities to open access to the services of one of our partners, selected according to your needs. We remain your sole point of contact for the entire client relationship.
3. Once access to the services is validated, you can request the opening of your Qatari Riyal account and any other eligible currency. Your QAR account banking details are generally provided within minutes, and you can start receiving and making payments in QAR (Qatari Riyal).
4. If your business evolves and you have needs in other currencies, you can request the addition of an account in another currency at any time.

The Qatari Riyal (QAR) account for which we provide you with the details is not a bank account per se because the account-holding institution is not a bank but a partner payment institution. These accounts are in your name, and the IBAN associated with the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening a Qatari Riyal (QAR) account for more information.

It may be useful for your QAR (Qatari Riyal) account to be located in France or, conversely, in another country, depending on your operational needs and the location of your clients. This is why we offer great flexibility in the location of currency accounts. The QAR (Qatari Riyal) account can be located in the following countries of your choice:

• France
• United Kingdom
• Belgium
• Netherlands

You can consult the updated table of possible locations for QAR (Qatari Riyal) accounts here: account locations

You can use this Qatari Riyal account to receive or store QAR for as long as you wish as long as your account is active. You are automatically notified by email each time a Qatari Riyal transfer is received in your QAR account. You can then freely reuse these QAR to make payments in QAR to your suppliers or convert your Qatari Riyals, benefiting from very competitive exchange rates. There is no obligation for account movements. 

Foreign currency payment collection systems like Adyen, Stripe, PayPal, Hipay, or internal systems to marketplaces like Amazon Pay are widely used by companies conducting international transactions. These systems are efficient, but if you do not have an account in the collected foreign currency, your revenues in that currency are automatically converted to euros at often very unfavorable exchange rates, and even when you have a bank account in the collected currency, this account often needs to be located in the country where the sale takes place, which can be complicated with a traditional bank. Some of our partners offer currency accounts compatible with most marketplaces and collection systems.

You can find all eligible currencies for opening a currency account by visiting this page.

It is not possible to deposit checks or cash into your QAR (Qatari Riyal) account. Only bank transfers are accepted for transactions on the account. No bank card can be linked to the account at this time.

Account statements detailing all operations in Qatari Riyals are downloadable at any time from the online interface. These statements include maximum information on beneficiaries, the origin of funds, related exchange operations, to facilitate the work of your accounting department.

All account statements can be automatically integrated into your treasury software or ERP through MT940 files. You will find all movements in QAR (Qatari Riyal) in your software, and you do not even need to connect to our online interface to obtain the up-to-date balance of your QAR (Qatari Riyal) account. Our technical teams can also automate the processing of currency payment files provided by your TMS / ERP.