Customer Notice Board

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 businessbanking@rakbank.ae.

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

09/12/2021

Dear Customer,

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

Our Corporate Cheque Scanning Application on our Digital Banking will not be available on 9^th December, 2021 from 10:00pm to 10:30pm.

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 call your Relationship Manager. Also you can write to us at BG_CASH_MANAGEMENT@rakbank.ae.

Assuring you of our best services.

Regards,

RAKBANK

29/11/2021

Dear Customer, 

Thank you for banking with RAKBANK. 

Kindly note that effective 1^st February, 2022 Business Account Service & Price Guide will be revised for all Conventional and Islamic Business Accounts.

Our Digital Banking platform has enhanced features such as: VAT/E-Dirham payment, utility bill payment, salary payment (WPS/Non WPS), bulk payment solutions and many more to assist our customers with online tools/payments at any time from the comfort of their home/office. Accordingly, we have revised our tariff for teller transactions, cheque book request and bulk cash handling requested at the Branches as below:

As part of this revision, the Digital banking fee will also be revised. However, we are pleased to advise the Digital Banking fees and Monthly maintenance fees will be waived off for RAKvalue Cash Management Package and Cheque Direct customers.

Click here for the revised Conventional Business Account Service & Price Guide

Click here for the revised Islamic Business Account Service & Price Guide 

For more information please write to us on businessbanking@rakbank.ae or speak to you Relationship Manager.

Thank you for your continued patronage.

Regards,

RAKBANK Business 

Conditions apply.

23/11/2021

Dear Customer,

Thank you for banking with RAKBANK.

Please be reminded of our system downtime during the following dates & times, and request you to urgently note the impacted transactions and systems, with some additions from our previous communication, to plan accordingly and avoid any inconvenience

• Wednesday 1^st December, 2021 from 11:00pm to Thursday 2^nd December, 2021 8:00am
• Saturday 4^th December, 2021 from 2:00am to 3:00am

All our channels and services will be in complete outage, except for the following: 
 

• Contact Centre
• Credit Card & Prepaid Card transactions via POS machines at merchants, Online E-Commerce, or Samsung Pay /
  Apple Pay channels
• On 2nd December, 2021 from 12:00am to 6:45am, Debit Card transactions will be available as well as cash withdrawal, enquiry and PIN change on ATMs/EDMs for RAKBANK cards

Important Note: You may face extended disruption during the holiday for the same impacted channels & services on December 2^nd, 2021 from 8am to 9:30am, if extended system update is required. We assure you that we will strive to complete the update within the timings mentioned above. 

Hence, we request you to ensure that you perform all required transactions or withdrawals prior to this outage, and if your Credit Card payment due date is falling within the downtime dates, we request you to pay in advance to avoid any applicable charges.

We regret the inconvenience caused. Our Contact Center will be available on 04-2130000 throughout the affected timings to support you for any further queries.  

Assuring you of our best services at all times.

Regards,

RAKBANK

21/11/2021

Dear Valued Customer,

Thank you for banking with RAKBANK.

We are pleased to inform you that effective 05/11/2021, the Annual Fee on the RAKBANK/RAKislamic Emirates Skywards World Elite Mastercard Credit Card for the primary cardholder will be waived subject to minimum spend criteria of AED 120,000 in the previous year. The annual fee for the supplementary card, if any, will not be subject to the above waiver. For details, you may refer to our Service & Price guide;

• Conventional
• Islamic

Please also note that in regards to the campaign which offered a discounted finance charge of 2.5% p.m. for RAKBANK/RAKislamic Emirates Skywards World Elite Mastercard Credit Card from 1^st March, 2021 will expire on 31^st December, 2021. The normal applicable rate of 3.45% p.m. will apply effective 1^st January, 2022.

Should you have any queries, please call us on 04-2130000.

We thank you for your continued support.

Regards,

RAKBANK

18/11/2021

Dear Customer, 

Thank you for banking with RAKBANK.

To serve you better, we are enhancing our banking systems. Our offsite ATM/EDMs will not be functional on Saturday 20^th November 2021 from 12:00am to 6:00am.

Please note our ATM/EDMs located in RAKBANK branches will remain available for your use.

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

07/11/2021

Dear Customer,

Thank you for Banking with RAKBANK.

We are pleased to advise that the minimum threshold for cashback redemption has been revised on the following Credit Cards effective 03/12/2021:

• World Credit Card – minimum redemption amount revised from AED 1,000 to AED 300
• Titanium Credit Card – minimum redemption amount revised from AED 500 to AED 100
• Business Titanium Card - minimum redemption amount revised from AED 500 to AED 100

Should you have any queries, please call us on 600 54 4049.

We thank you for your continued support.

Regards, 

RAKBANK

28/10/2021

Dear Customer,

Thank you for banking with RAKBANK.

Please note that the UAE Central Bank will be having a maintenance activity on the UAESWITCH system on Friday 29^th October, 2021 and 5^th November, 2021 from 5:00am to 7:00am.

During this time, RAKBANK customers will not be able to perform any transaction (Deposit & Cash Withdrawals) on other bank ATMs. You can still perform withdrawals and deposits via our RAKBANK ATMs/EDMs. 

Click here for the updated list of ATMs/EDMs available near you. 

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.

Assuring you of our best services at all times.

Regards, 

RAKBANK

19/10/2021

Dear Valued 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 Cards, Debit Cards, and Prepaid Cards will not be available across our channels (ATMs/EDMs, Digital Banking, Website, POS, and IVR) on Saturday 23^rd October 2021 from 2:00am to 6:00am.

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

13/10/2021

Dear Valued Customer,

Thank you for Banking with RAKBANK.

To serve you better, we are enhancing our Banking systems that may cause delays or interruptions in our services through the Digital Banking platform as follows:

• Friday 15^th October 2021 from 12:00 AM to 5:00 AM - RAKMoneyTransfer services.
• Saturday 16^th October 2021 from 3:00 AM to 4:00 AM – Enquires for Islamic products and services. 

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.

Assuring you of our best services at all times. 

Regards,

RAKBANK

06/10/2021

Dear Customer,

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

Our Credit Card services, Islamic Finance & Direct Debit advice enquiry options on Digital Banking will not be available from 01:00am to 05:00am on Saturday, 9^th October 2021.

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.

Assuring you of our best services.

Regards,
RAKBANK

29/09/2021

Dear Customer,

Please note below the changes in the Trade Finance Service and Price Guide w.e.f 01st November 2021.

Do get in touch with us through your Relationship Manager or call our dedicated TRADEASSIST Number 8006789 for any queries. 

We also urge you to use our Digital Banking platform to initiate your trade finance service requests from the comfort of your premises.

Assuring you of our best services at all times. 

Regards

RAKBANK Business 

27/09/2021

Dear Customer,

Due to a maintenance activity at Du, from 12:00 AM to 08:00 AM on, Tuesday, 28th September 2021, you may face intermittent failure of online payments or mobile recharge to your Du account, through IVR, Digital Banking or ATM. 

We request you to take note of the above and try at a later time.

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

Assuring you of our best services at all times.

Regards,

RAKBANK

16/09/2021

Dear Customer,

Thank you for Banking with RAKBANK.

Please note that UAE Central Bank will be having a maintenance activity on the UAESWITCH system on Friday 17th & 24th September, 2021 from 5:00am to 7:00am.

During this time, RAKBANK customers will not be able to perform any transaction (Deposit & Cash Withdrawals) on other bank ATMs. You can still perform withdrawals and deposits via our RAKBANK ATMs/EDMs. 

Click here for the updated list of ATMs/EDMs available near you. 

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.

Assuring you of our best services.

Regards,
RAKBANK