Cashback -Terms and Conditions

Terms & Conditions


1.1 RAKBANK’s (the ‘Bank’) Cashback Program (“the Program”) allows eligible RAKBANK Credit Cardholders (“Cardholder/s”) to accumulate Cashback (“Cashback”) on Qualifying Transactions incurred on their RAKBANK Credit Cards (Card/s) during the Billing Month, as per the minimum and maximum amount set by the Bank from time to time. Cashback accumulated on such Cards can only be redeemed by credit to the Primary Cardholder’s Card Account. Cashback is defined as an accrued amount earned on qualifying transactions at rates decided by the Bank from time to time at its absolute discretion; and which may be credited to the Primary Cardholder’s account on application by the Primary cardholder. Qualifying transactions are defined as retail, online transactions and/ or other transactions that the Bank defines as eligible from time to time. Only qualifying transactions posted by the Bank to the Card Account would be considered eligible for the Program. The billed amount of the qualifying transaction will be considered for Cashback calculation in the statement that the transaction appears. Billing Month is defined as the statement period for the Primary Card Account and billed amount is the amount of the qualifying transaction as it appears in the statement of account.


2.1 The Program is open to such RAKBANK Cardholders as determined by the Bank from time to time whose Cards are not blocked, and are in good standing as per the definition of the Bank.
2.2 The Cashback earned by a Supplementary Cardholder(s) will accrue to the account of the Primary Cardholder.


3.1 Participation in the Program is automatic for all eligible cardholders.
3.2 The Cardholder may opt out of the Program by sending an intimation to the Bank.
3.3 The Cardholder may continue to use his/her Card as he/she normally does.
3.4 The Bank may impose fees on the Program at its absolute discretion, which may be varied from time to time.
3.5 Enrolment Date - shall mean the date of launch of the Program for the existing Cardholders and the date on which the Primary Account is activated for new Cardholders.
3.6 Enrolment Year - shall mean “any twelve-month period” commencing on the Enrolment Date.


4.1 The Cardholder will earn Cashback at a percentage of qualifying transactions as specified by the Bank from time to time, provided the total qualifying transactions incurred in AED (Dirhams) during a billing month meets the minimum amount determined by the Bank. The Bank at its sole discretion will round down the total Cashback earned during a billing month to the nearest Dirham.
4.2 All qualifying transactions billed to the Card Account under this Program are eligible to earn Cashback. This will not include the following transactions:

• Balance transfers
• Local Cash advances 
• Credit Card Cheques
• Finance charges
• All fees charged on the Card by the Bank
• Transactions reversed by Merchants
• Utility bill payments like telephone bills, water and electricity bills made through the Bank's payment Channels like IVR, Internet Banking, ATM, Mobile Banking or any other Bank's payment channel.
• Any other transactions determined by the Bank from time to time
4.3 A Cardholder cannot accrue Cashback for any retail purchase(s) incurred prior to his/her Enrolment Date.
4.4 Cashback accumulated by a Cardholder on the Card cannot be combined or used in conjunction with Cashback of his/her other Cards at the time of redemption or transferred to any other card or customer loyalty program unless otherwise specifically notified by the Bank.

4.5 The Cashback is not transferable by operation of law or otherwise to any other person or entity. The Cashback is an accrual payable solely at the discretion of the Bank; it is not an attachable account balance and neitheris it a balance which may be transferred to any other person or entity.
4.6 The accrued Cashback has a monetary value on redemption; it can be redeemed only as a credit to the Primary Card account. When redeemed, the equivalent value will reflect as a credit to the Cardholder’s Account in the same manner as any other repayment.
4.7 The Bank will notify the Primary Cardholder in the monthly card statement of the Cashback accumulated. The Primary Cardholder can only redeem Cashback after it has been reflected as an accumulated balance in the card statement.
4.8 In the event the Primary Card account is voluntarily closed by the Primary Cardholder, the Cashback accumulated on his/her Card can be redeemed within 30 days of closure, subject to the same being requested in writing, otherwise the same shall automatically lapse and shall stand forfeited. In the event of cancellation of the Card for any other reason, all the Cashback accumulated shall stand forfeited. If the Card is blocked or suspended for any reason whatsoever, then the Cashback accumulated shall stand forfeited but may be reinstated, at the sole discretion of the Bank.
4.9 The Bank’s decision on computation, lapse, cancellation, forfeiture, credit, debit and re-instalment of Cashback shall be final, conclusive and binding on the Cardholder.



5.1 The Card must not be overdue, suspended, blocked, cancelled or terminated by the Bank at the time of the receipt of request for redemption of Cashback. In any of the above events, it is at the discretion of the Bank whether the Cashback amount may be redeemed or will be forfeited.
5.2 The method for redemption of Cashback is that the Primary Cardholder shall have to call the RAKBANK Phone Banking number 04-2130000, and after the identification process, must request redemption of all or part of the accrued Cashback.
5.3 The minimum amount that is allowed to be redeemed in any instance is AED 100/-.
5.4 The Bank will credit the Primary Card Account with the Cashback redemption amount requested within 3 working days of receipt of the redemption request from the Primary Cardholder.
5.5 On redemption, the Cashback would automatically be subtracted from the Cashback accumulated in the Cardholder’s account.
5.6 Cashback must be redeemed by the Cardholder within 15 (fifteen) months of earning such Cashback. If not redeemed within this period, or such other period as the Bank may decide, such Cashback shall be forfeited and will be reduced from the Cashback Balance reflected in the Statement.
5.7 Cashback is not exchangeable for other rewards, or refundable, replaceable, or transferable under any circumstances, nor can this be reconverted back to Cashback accrued.


6.1 Fraud and/or abuse relating to earning and redemption of Cashback in the Program may result in forfeiture of the Cashback as well as termination and cancellation of the Card.
6.2 The Bank reserves the right to cancel, suspend, change or substitute the Cashback or the Cashback conditions or the basis of computation of Cashback or Terms and Conditions of the Program at any time, without giving any intimation to the Cardholder.
6.3 The Program supplements, but does not in any way amend the Credit Card Agreement between the Bank and the Cardholder, and any term referenced but not defined herein would be interpreted in accordance with the Agreement entered between the Primary Cardholder and the Bank (the ‘Credit Card Agreement’). Notwithstanding anything contained herein, in the event there is any contradiction between these Terms and Conditions and the Credit Card Agreement, then terms of Credit Card Agreement shall prevail.
6.4 The Bank would be deemed to have acted in good faith in response to any oral or electronic instruction or inquiry by the Cardholder in respect of any matter in relation to this Program and the fulfillment of any redemption request. The Cardholder shall not be entitled to claim or allege any loss, damage, liability, expense, etc. attributable, directly or indirectly, to any such good faith action of the Bank and the Cardholder shall indemnify and hold the Bank harmless in respect thereof.

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