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Effective 1st September 2019, all Business Banking customers will receive a cash back of AED 50/- credited to their account for each trade finance transaction processed successfully via Digital Banking. The credit will be applied the month after the transaction month.

Trade Finance Service request through Digital Banking:

  • Letter of Credit Issuance
  • Letter of Credit Amendment
  • Import LC - Document Settlement
  • Shipping Guarantee Application
  • Letter of Guarantee Amendmen
  • Letter of Guarantee Issuance
  • Trust Receipt Application
  • Settlement of Loan against Trust Receipt
  • Short Term Loan against Invoice Application
  • STL against Invoice Settlement
  • Cheque Discounting Application
  • Loan against Invoice Application
  • Loan against Invoice Settlement
  • Inward Collection Doc. Settlement
  • Outward Collection Doc. Presentation
  • Export LC - Presentation of Documents 
  • Export LC - Discounting Request

Express cash secured Guarantees up to AED 1 Million for a nominal fee of AED 150/- through Digital Banking effective 1st September

Whats more!

Top 5 RAKBANK Business Banking customers with the highest number of express cash secured Guarantees through Digital Banking between 1st September'19 and 30th September'19 will get a smartphone. In case of a tie, value of transactions will be taken into consideration
 
 
Special Instructions Field: 
Please ensure to mention "EXPRESS: DELIVER TO <Any one of the below mentioned guarantee collection Branches>" at the beginning of the "Special Instructions" field followed by any other instructions you may want to provide.

 
Guarantee Collection Branches: 

  • Umm Hurrair Branch, Dubai 
  • Sultan Business Centre, Mezzanine Floor, Oud Metha, Dubai 
  • Tourist Club Branch, Abu Dhabi 
  • Sharjah Industrial Area Branch, Sharjah

 
Documents to be Uploaded: 
Use the "Upload Documents" functionality on completion of application and provide the below: 

 
Points to be noted: 

  • Applications need to be submitted by 11 am for same day processing.
  • Any discrepancies noted in the request will be informed by 12 pm.
  • Applications with necessary documents compliant with internal policies of the Bank need to be submitted by 1 pm

Conditions apply
 

Top 5 RAKBANK Business Banking customers with the highest number of successful GBP or Euro transfers initiated through Digital Banking will have a chance to win a smartphone.

Contest period:

1st August 2019 to 31st October 2019

Terms & Conditions:

  • The customer segment will be as per bank’s record on the date of the draw list created.
  • In case of a tie, value of transactions will be taken into consideration.
  • Only GBP or Euro cross currency transactions successfully processed via Digital banking will be eligible for the contest. (Cross currency transfer is when conversion of currencies take place such that the transfer debit account currency is different from credit account currency)
  • Winners will be informed via email registered with RAKBANK and details will be published on RAKBANK website.
  • The Bank reserves the right to amend or cancel the contest at any time with no need for customer consent.
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