Customer Notice Board

30/05/2022

Dear Customer,

Thank you for banking with RAKBANK.

We are pleased to inform that our Deira Gold Souq Branch will be relocated from Monday, 13^th June, 2022 as per the below details:
 

Please note that there will be no impact to your banking relationship or account details due to the re-location.

The ATM/EDMs in the current location will not be operational post 2:30pm on Saturday 11^th June, 2022 and you may use the ATM/EDMs at the new location post 2:30pm. 

Cheque deposit cut off time for clearing through the new location ATM/EDMs is 7:00am. All cheques deposited after the cut off time will be cleared in the next working day.

Click here to find our new branch location via google map. 

For any further clarification, please do not hesitate to chat with us here or call us on 04-2130000 from 9:00am to 6:00pm.

Assuring you our best services at all times.

Regards,

RAKBANK

13/05/2022

Dear Customer,

In reference to the recent announcement issued by the Ministry of Presidential Affairs at UAE, RAKBANK mourns the passing of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE.

We advise that RAKBANK branches will close from Saturday 14th May 2022 till Monday 16th May 2022 and will resume on Tuesday 17th May 2022.

Cheque clearing and payments will be processed as normal on Saturday 14th May 2022. 

We would like to remind you that our automated phone banking service and Digital Banking services are also available at all times to support all your banking requirements.

We would like to extend our heartfelt condolences & sympathies to the Al Nahyan Family, UAE Leaders, UAE Citizens and Residents. May Allah Almighty grant him eternal peace.

Regards,

RAKBANK

13/05/2022

Dear Customer, 

Thank you for banking with RAKBANK.

To serve you better, we are enhancing our banking systems.

• On Saturday the 14^th of May 2022 from 4:00am to 5:00am:
  Our services including transactions and payments related to Credit, Debit and Prepaid Cards will not be available across our channels (ATMs/EDMs, Digital Banking, IVR, Website, E-commerce, POS, and Digital Wallet)
   
• On Sunday, 15^th May, 2022 from 1:00am to 3:00am:
  You will not be able to perform the below services through the mentioned channels:
  1. Emirates Skywards World Elite Credit Card Application Submission – RAKBANK Website
  2. Digital Access Card request – Digital Banking

We regret the service interruption and thank you for your understanding. In case of queries during the affected time, please call us on 042130000.

Assuring you of our best services at all times.

Regards,
RAKBANK

28/04/2022

Dear Customer,

Thank you for Banking with RAKBANK. We would like to take this opportunity to wish you and your families Eid Mubarak.

In view of the Eid Holidays announced by the Central Bank of UAE, please note that any deposits to your RAKBANK account through ATM/EDM, Digital Banking and Central Bank Payment and Settlement System (CBWSI) on 30^th April, 2022 will be credited on 1^st May, 2022.

Please note that deposits during the Eid holiday from 1st – 3rd May, 2022, will be processed immediately as normal.

Additional to the above, the Central Bank of UAE has declared a holiday for the Cheque Clearing (ICCS) and payment via Direct Debit System (DDS) from 30^th April, 2022 to 4^th May, 2022. This means any Cheque/DDI payment presented during the mentioned dates, will be cleared/settled on 5^th May, 2022.

If your loan/finance due date falls during the holiday period, kindly ensure sufficient funds are available on your payment due date so we can recover the loan/finance instalment on the first business day after the holiday, and to avoid any late payment fees/charges.

If your cards due date falls during the holiday, please ensure that payments are made on due date to avoid any late payment fees/charges. 

For any queries, you may contact us on 04-2130000 from 9:00am to 6:00pm or chat with us here.

Assuring you of our best services at all times.

Regards,

RAKBANK

22/04/2022

Dear Business Customer,

At the very outset, we thank you for banking with us. 

Effective 23^rd May 2022, on account of recent increase in EIBOR rates, the following revision will be in place:

The SME Prime Rate will be increased by 0.50 basis points from 14.00% p.a. to 14.50% p.a.

This will be applied on products priced against SME Prime Rate.

All other terms and conditions of the respective products would remain unchanged. Click here to view the Service and Price Guide.

Should you require any further clarification or assistance, please feel free to contact your dedicated Relationship Manager or email us on [email protected].

Assuring you of our best services at all times.

Regards,

RAKBANK

21/04/2022

Dear Business Customer,

At the very outset, we thank you for banking with us. 

Effective 23^rd May 2022, on account of recent increase in EIBOR rates, the following revision will be in place:

The RAK Commercial Prime Rate will be increased by 50 basis points from 8.25% p.a. to 8.75% p.a.

This will be applied on products priced against RAK Commercial Prime Rate.

All other terms and conditions of the respective products would remain unchanged. Click here to view the Service and Price Guide.

Should you require any further clarification or assistance, please feel free to contact your dedicated Relationship Manager or email us on [email protected].

Assuring you of our best services at all times.

Regards,

RAKBANK

08/04/2022

Dear Customer,

To serve you better, we are enhancing our banking systems on Sunday, 10^th April 2022 from 5:00 AM to 9:00 AM.

During this time, you may encounter an interruption or delay in the following services:

1. RAKMoneyTransfer Requests on Digital Banking 
2. Credit Card applications submitted through our website
    

We regret the inconvenience. For queries during the affected time, please call us on 04-2130000.

Assuring you of our best services all time.

Regards,
RAKBANK

31/03/2022

Dear Customer,

Further to a review of our business, we advise that RAKBANK has decided to discontinue its cobrand partnership with FC Barcelona Football Club effective 30^th June 2022. As a valued customer, we remain committed to serve your banking needs and will be pleased to offer you with an alternate product we believe is best suited to your profile.

Please note, we will be sending you a detailed communication in regards to the product change on your registered email ID with the Bank. Kindly check your email and provide your consent for the Bank to go ahead with the product change by responding to the email at [email protected].

Should you have any queries, please feel free to call us on 042130000 from 9:00am to 6:00pm or write to us at [email protected].

We thank you for your understanding in the matter and apologize in advance for any inconvenience that you may face during this product transition process.

We assure you of our best services at all times.

Regards,

RAKBANK

Terms & Conditions apply

29/03/2022

Dear Customer,

Thank you for banking with RAKBANK.

As the Holy Month of Ramadan approaches, we take this opportunity to wish you a blessed Ramadan. 

Kindly note that during the Holy Month, RAKBANK Branches will operate as per the below business hours:

We would like to remind you that you can continue to use our Digital Banking services, ATMS, EDMs and our Automated Telephone Service (IVR) to meet your banking requirements conveniently and securely from the comfort of your homes or offices.

Please do not hesitate to call us on 04-2130000 from 9:00am to 6:00pm or chat with us 24X7 here for any queries.

Once again we wish you and your families Ramadan Kareem and assure you of our best services at all times.

Regards,
RAKBANK

14/03/2022

Dear Customer, 

Thank you for banking with RAKBANK.

To serve you better, we are enhancing our banking systems. Our services including transactions and payments related to Accounts, Loans, Credit, Debit and Prepaid Cards will not be available across our channels (ATMs/EDMs, Digital Banking, Website, POS, and IVR) on Monday 14^th March 2022 from 1:00am to 5:00am.

We regret the service interruption and thank you for your understanding. In case of queries during the affected time, please call us on 042130000.

Assuring you of our best services at all times.

Regards,

RAKBANK

03/03/2022

Dear Customer,

Thank you for banking with RAKBANK.

Due to system integration at HSBC from Friday 4^th March 2022, 7:00pm till Monday 7^th March 2022, 8:00am, IPI transfers (Instant Payments) to HSBC through the Digital Banking will not be available.

Transactions for the below services initiated to HSBC during the affected time, will be processed on Monday 7^th March 2022:

• UAEWPS (Salary Payment)
• UAEFTS (Fund Transfer)
• UAEDDS (Direct Debit Payments)
• ICCS (Clearing Cheque)

Thank you for your understanding. In case of queries, please call us on 04-2130000.

Assuring you of our best services at all times.

Regards,
RAKBANK

15/02/2022

Dear Customer,

Thank you for banking with RAKBANK.

We write with reference to our earlier communication dated 30^th December 2021, wherein we advised you of the revised working week effective 2^nd January 2022 as per the announcement of the UAE Government.

As part of our efforts to further enhance your banking experience, we have revised the business hours for our Mall branches (Dragon Mart Branch, IBN Battuta Branch and Motor City -E-banking unit) effective 1^st March 2022, as detailed below for your reference. 

• Saturday to Thursday 10:00am to 06:00pm
• Friday 10:00am to 01:00pm and 02:00pm to 06:00pm

The revised business hours will allow clearance of your cheques on the same business day, for deposits made before 10:00 am. 

As per the revised business hours, it is important to note that cheques deposited through the mall branches will be processed as follows:

You can also continue to use our Digital Banking services, ATMS, EDMs and our Automated Telephone Service to meet your other banking requirements conveniently and securely from the comfort of your homes or offices.

Please do not hesitate to call us on 04-2130000 from 9:00am to 6:00pm or chat with us 24X7 on our website for any queries.

Regards,
RAKBANK
 

04/02/2022

Dear Customer,

To serve you better, we are enhancing our banking systems on Saturday 5^th February, 2022 from 3:00am to 3:15am. Hence Card activation and services through our Digital Banking and IVR will not be available.

Due to a maintenance activity on Sunday 6^th February, 2022 from 02:00am to 03:00am, below services will not be available:

• RAKBANK offsite ATMs/EDMs
• RAKBANK Point of Sale (POS) machines
• E-Dirham service through our Digital Banking
• You may face delay in processing RAKMoneyTransfer transaction and Immediate Payment service (IPI) through our Digital Banking 

We regret the service interruption and thank you for your understanding. In case of queries during the affected time, please call us on 04-2130000 or chat with us here on the RAKBANK website. 

Assuring you of our best services at all times.

Regards,
RAKBANK

28/01/2022

Dear Valued Customer,

Thank you for banking with RAKBANK. 

We have recently enhanced our Trade Finance service requests through Digital Banking.

Features of the new enhancements in Digital Banking

Save Trade Finance request as Template for recurring request

Now you can save beneficiary and transactions details as template for the below requests/applications: 

• Letter of Credit Issuance
• Apply for Loan Against Trust Receipt
• STL Against Invoice Application
• Application for Presentation of Documents under Export LC
• Presentation of Outward Collection Document

How to save as template: 

• Go to Service Tab > Request> Trade Finance service request 
• Fill the necessary details in the request 
• Click on the check box below the request - I want to save the transaction details in my beneficiary list for future transaction purposes
• Submit the request 

How to view the saved template for future request submission:

• Go to Service tab > Request > Initiate from Template 
• Choose the template from the list
• Proceed for new request submission

Increase in File uploads size for selected requests from 5MB to 10 MB per file to avoid multiple uploads 

Now you can upload up to 4 files of 10 MB at one go for the below requests/applications:

• Apply for Short Term Loan
• Application for Loan Against Invoices
• Application for Cheque Discounting
• Application for Presentation of Documents under Export LC 
• Presentation of Outward Collection Document
• Letter of Credit Issuance

Print and download option made available

You can now download and print the below service requests/applications for your records.

• Letter of Credit Issuance
• Letter of Credit Amendment
• Apply for Loan Against Trust Receipt
• Application for Loan Against Invoices
• Application for Cheque Discounting 
• Application for Presentation of Documents under Export LC
• Presentation of Outward Collection Document 

For more information please contact your Relationship Manager or write to us at [email protected].

Regards,

RAKBANK Business
Conditions Apply 

20/01/2022

Dear Customer,

To serve you better, we are enhancing our banking systems on Saturday, 22^nd January, 2022 from 1:00am to 5:30am.

The following services will not be available through the below channels:

• Skywards Onboarding and Webapply through RAKBANK portal.  
• YAP Onboarding through YAP Application.
• Digital Access Card, Cashback Redemption, Card Blocking, Balance Transfer, Credit Card cheque requests through our Digital Banking.

For Card Blocking and any other queries or support, please contact us on 042130000 or chat with us here.

We regret the service interruption and thank you for your understanding.

Assuring you of our best services.

Regards,

RAKBANK

04/01/2022

Dear Customer,

Thank you for banking with RAKBANK.

We regret to advise that the Central Bank Payments & Settlements system is currently not available due to a technical issue.

The following services have been impacted due to the above:

1. Direct Debit System
2. ICCS clearing and Settlement
3. Immediate Payments Instructions
4. Fund Transfer System
5. Wage Protection System

In the meanwhile, you are kindly requested to use RAKBANK ATMs to withdraw money and perform other available services.

We are in touch with the Central Bank and will inform you as soon as the services are restored.

For any queries or support, please contact us on 04 2130000 or chat with us at www.rakbank.ae

We thank you for your continued patronage and understanding in the matter.

Regards,

RAKBANK

03/01/2022

Dear Customer,

We refer to our email dated 30^th December 2021 on the new amendments from the Central Bank of UAE regarding Partial Payment of Cheques.

The Central Bank has further updated us that when a cheque is presented for partial payment, the Bank is required to share the following details of the cheque issuer with the presenter of the cheque (i.e. beneficiary):

• Emirates ID No., Passport No. or Trade License No. of the cheque issuer
• Cheque issuer IBAN number
• Cheque issuer telephone number
• Cheque issuer detailed address

This information will be provided as part of the Partial Payment Certificate issued by Bank at the time of partial payment. 

We request you to take note of the above and be guided accordingly.

Please feel free to call us on 04-2130000 or chat with us through our website for any queries.

Assuring you of our best services at all times.

Regards,

RAKBANK

30/12/2021

Dear Customer,

Thank you for banking with RAKBANK.

Following the UAE Government’s announcement to amend the working week effective from 2^nd January 2022, RAKBANK will support this change to align with global markets and implement a Monday to Friday working week, with the weekend being on Saturday and Sunday.
 
As per the guidance of the Central Bank of the UAE, our branches will continue to operate 6 days a week and will remain closed on Sundays. Hence, effective 3^rd January, 2022, our branch timings will be from 8:00am to 3:00pm from Monday to Thursday and on Saturday, while on Fridays, we will be open from 7:30am to 12:30pm. 

The above will be applicable for all Branches except for the following: 

• Al Mannai Branch will be closed for business on Saturday and Sunday, and operate as per above timings for the other weekdays.
• Our branches at Dragon Mart, Ibn Battuta & Motor City Branches will continue to operate 7 days a week from Monday to Saturday from 11:00am to 7:00pm and on Sunday from 1:00pm to 7:00pm, effective 2nd January, 2022.

Based on our new mall timings, it is important to note that cheques deposited through the mall branches (drop boxes, ATMs, and over the counter) will be cleared the next working day from the deposit. 

Furthermore, our cut off timings for outward Clearing Cheque settlement has been extended by 2 hours, i.e. from 4:00pm to 6:00pm from Monday to Saturday. 

We would like to remind you that you can continue to use  our Digital Banking services, ATMS, EDMs and our Automated Telephone Service to meet your banking requirements conveniently and securely from the comfort of your homes or offices.

For more details on the revised working hours, please click here.

Please do not hesitate to call us on 04-2130000 from 9:00am to 6:00pm or chat with us 24X7 on our website for any queries.

Wishing you and your families a very happy and Prosperous New Year and assuring you of best services at all times.

Regards,

RAKBANK

29/12/2021

Dear Customer,

Thank you for banking with RAKBANK.

With reference to the new amendments from the Central Bank of UAE regarding Partial Payment of Cheques, please be advised of the following:

Effective 3^rd January, 2022 any cheque presented for payment and returned due to insufficient funds, the bearer of the cheque can directly approach the issuing bank and request to partially pay the value of the cheque up to the available funds. 

The issuing Bank will issue manager’s cheque in favor of the beneficiary upon each successful partial payment and will make a note at the back of the original cheque confirming the partial payment concluded, and will return the original cheque to the bearer along with a Cheque balance certificate. Original cheque will be retained by the paying bank once the full amount i.e. equal to cheque amount has been paid. 

The bearer of the cheque has the right to claim the remaining amount against the original cheque, until the full value of the cheque is paid or cheque becomes stale i.e. within 180 days from date of the cheque. Even after receiving partial payment, beneficiary does not lose the right of legal recourse against issuer of the cheque in case of non-payment of full cheque amount.

Please note that a fee of AED 5/- + VAT will be charged to the issuer of the cheque for each successful partial payment processed. 

For further clarification, please do not hesitate to call our contact center on 04-2130000 or chat with us at www.rakbank.ae.

Assuring you of our best services at all times.

Regards,
RAKBANK

14/12/2021

Dear Customer,

Please note that we are enhancing our banking systems on Friday 17^th December, 2021 from 2:00am to 2:15am and from 4:00am to 4:15am. 

During this time, you may face interruption in our services while using your Debit Card, Credit Card and Prepaid card through our Digital Banking, ATM/EDM and POS/Ecommerce/Apple Pay/Samsung Pay channels, including Remittance transactions as well as the applications sourced through our RAKBANK website. 

Hence recommend to avoid using your cards/any services during the affected time.

We regret the service interruption and thank you for your understanding. In case of queries, please call us on 04-2130000.

Assuring you of our best services.

Regards,

RAKBANK