Express Service

Open your Business Current Account in just ONE DAY, enjoy easy access to your money, a low minimum balance requirement, and a choice to open your Business Account in local and international currencies. 

How to Apply 
To apply for our Business Current Account using our Express Service visit our Business Banking Centre at office # 203, Hamsa building, above Ansar Gallery, Dubai with the basic documentation listed below.

• Valid Passport & visa of individuals authorised to operate the account.  
• Valid Passport & visa of all other shareholders / service agent
• Valid Emirates ID of the signatory(ies)
• Valid Trade License copy (all pages)
• Copies of court Notarised Memorandum of Article and amendments if any (LLC) / Articles of Incorporation / Service Agency Agreement (Sole Proprietors with Expat owners) / Partnership Agreement (Partnerships) / Certificate of Incorporation (Free Zone)
• Share Certificate(s)
• Chamber of Commerce Certificate
• Application for Express processing of Business Current Account. Click here to view the application.

Please note: additional documents will be requested on case to case basis.

Cut off – Timings 
Applications submitted from 8.am to 10.a.m from Sunday to Thursday will be processed on the same day.            

The Express service for Business Current Accounts is only valid for Sole Proprietorship, Partnership  &  Limited Liability Company & Free Zone company .

Important:

Account opening would be subject to satisfactory documentation submitted by customers and banks internal approval.

Express service is available only on business working days

• Fast Track Approval on Express Loan Application
• Collateral free loan
• Enjoy  competitive rate of interest
• Flexible repayment period up to 60 months
• Finance can be availed in Conventional and Islamic form

How can I apply for the Loan?
To apply send SMS “Business” to 7011 or email us at businessbanking@rakbank.ae

Important:
Consideration of Loan/Finance would be subject to satisfactory documentation submitted by customers and banks internal approval.

Avail the benefit of our express processing window for your cash secured guarantee requests up to AED 1 Million through our dedicated Trade Finance Desk, for a nominal fee of AED 150/- only! 

Pre-Requisites:

• Application to be compliant with internal policies of the Bank
• Application to be submitted to the below Trade service desks
   
  1. Umm Hurrair Branch , Dubai 
  2. Sultan Business centre, Mezzanine Floor, Oud Metha, Dubai 
  3. Tourist Club Branch, Abu Dhabi 
  4. Sharjah Industrial Area Branch, Sharjah

Accepted Express applications submitted to the above Trade desks between 8am – 11am  - Sunday to Thursday will be processed on the same day and applications submitted after 11am, would be processed on the next working day.

• Adequate funds to be available in the account to collect guarantee commission charges, express service fee and cash margins to secure the guarantee. 
• Customer to furnish copy of latest and valid company / identification documents (as applicable)
• Complete and duly signed and stamped
   
  1. Application for Letter of Guarantee
  2. Counter Indemnity
  3. Pre-required guarantee format, if any (the Bank would review this document, to ensure that the format requested is in line with internal Bank policies)
  4. Debit Authority Letter for Express Processing

In line with the UAE’s Value Added Tax (VAT) implementation from 1st January 2018, VAT at the rate of 5% will be levied on RAKBANK’s fees and charges specified herein, wherever applicable and as per UAE law.