Customer Notice Board

30/04/2021

Dear Customer,

To serve you better, we are enhancing our banking systems on Friday 30^th April 2021 from 04:00am to 05:00am.

During this time, you may encounter a disruption in our Card Payment Services at Points of Sale and across our channels (Digital Banking, IVR & ATM/EDM). 

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

21/03/2021

Dear Customer,

Regretfully, we do not appear to have received a response, despite reminders from the Bank, regarding the submission of the Common Reporting Standard (CRS) which we are required to maintain as per the regulatory guidelines of the Central Bank of the UAE.

Kindly click here to download the CRS & FATCA form and request you to submit the same to us duly completed on or before 25/03/2021 (“the Due Date”) through any of the below channels:

• Email to us at [email protected] (mention your account name in the subject line) or alternately email your Relationship Manager;
• Submit the form at any RAKBANK Branch.

In the event that the required information and documents are not submitted by 25/03/2021, please note that the Bank will be constrained to block usage of channels for the aforementioned account(s).

Subsequently, and in the event the required documents are not received by 25/04/2021 (“Due Date”), we shall have no option but to close the aforementioned account(s) in accordance with the Terms and Conditions governing the account(s) and the requirements of the Central Bank of the UAE.

Please therefore consequently arrange to close the Account(s) and transfer the available balances to alternative non-RAKBANK accounts, on or before 30 days from the date of the SMS sent.

In such circumstances:

1. Please refrain from transacting on the account(s) and return all unused cheque leaves and Debit Card(s) to us for destruction.
2. Please note any cheques presented prior to the Due Date will be returned with reason “Insufficient Funds” in case you do not maintain sufficient balances in your account(s).
3. Any funds remaining in the account(s) after the Due Date shall be forwarded by manager’s cheque to your address as per RAKBANK’s records after deducting the outstanding amounts due to RAKBANK.
4. Please note that any cheques presented after the Due Date will be returned stating the reason as “Account Closed”.
5. Any banking facilities granted to you will be withdrawn and no further drawings will be processed under such banking facilities from the date of this email.
6. If you have existing credit card(s), the same shall be cancelled from the date of this email. In case you have any outstanding under your credit card(s), RAKBANK will place a lien on the account for the equivalent amount till such time that you settle the outstanding amount else RAKBANK will set-off such outstanding against the amount held under lien. Please note you will continue to be liable to pay any residual outstanding amount after such a set-off.
7. If you hold any investment products with RAKBANK, you are requested to either surrender or transfer the same out of RAKBANK prior to the Due Date.
8. If you hold Personal / Mortgage / Auto Loan(s) &/or Insurance products through RAKBANK, kindly note that the funding account shall be retained but the transactions shall be restricted to servicing the payment commitments towards these products. You are advised to maintain sufficient balances in the account to meet the payment commitment(s). Please note the account will be closed once the payment commitments towards the above-mentioned products are paid / settled in full.
9. If you hold any Wakala / Fixed Deposit account(s) with RAKBANK, note that there will be no further renewal of these deposit accounts. Upon maturity, the proceeds will be paid to you as per your disposal instructions or by manager’s cheque to your address as per RAKBANK records. Alternatively, you may prematurely close the above-mentioned deposit account(s) subject to payment of applicable charges.
10. In case of any Trade / Labour Guarantee(s) provided pursuant to your request are still outstanding, kindly note that all securities including Wakala / Fixed Deposit(s) and Cash Margin(s) will remain operative and will be retained until receipt of written consent for cancellation of such trade / labour guarantee(s) from the beneficiary along with the original trade / labour guarantee itself. Following receipt of the aforementioned written consent for cancellation and the original labour guarantee(s), the securities will be cancelled and the proceeds will be paid to you as per your disposal instructions or by manager’s cheque to your address as per RAKBANK’s records after deduction of any charges and commission incurred relating to the trade / labour guarantee(s).

RAKBANK will not be liable for any claim, expense, cost or action whatsoever brought by any third parties against you or against RAKBANK in relation to or arising out of the closure of your Accounts with us and you agree to defend and keep RAKBANK fully indemnified in relation to any such claims, expenses, costs or actions.

We appreciate your co-operation in this regard.

Regards,

RAKBANK Business
 

16/03/2021

Dear Customer,

Thank you for banking with RAKBANK.

To serve you better, we are enhancing our banking systems on Saturday 20^_th March, 2021 from 2:00am to 6:00am.

During this time, you may encounter a disruption in our services across the following channels:

• Digital Banking
• IVR
• Our ATM & EDM Network 
• Our Point of Sale (POS) network i.e. our Credit and Debit Card merchant payments.
• Prepaid Self Care portal on our website.

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

Assuring you of our best services all time.

Regards,
RAKBANK

10/03/2021

Dear Customer,

Thank you for Banking with RAKBANK.

To serve you better, we are enhancing our banking systems on Saturday 13^_th March, 2021 from 12:00am to 2:00am.

During this time, you may encounter a disruption in our services across the following channels:

• Digital Banking,
• IVR
• Our ATM & EDM Network 
• Our Point of Sale (POS) network i.e. our Credit and Debit Card merchant payments.
• Prepaid Self Care portal on our website.

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

Assuring you of our best services all time.

Regards,
RAKBANK

04/03/2021

Dear Customer,

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

Our Credit Card services and Islamic Finance enquiry options on Digital Banking will not be available from 01:00am to 05:00am on Saturday, 6^th March 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

09/02/2021

As part of our constant endeavor to enhance your banking experience, we offer WPS and non-WPS Salary Payments through Digital banking to allow you to pay your employees swiftly and conveniently without the hassle of visiting a branch.

Listed below are some of the benefits of this feature:

• Low charges & quick  processing 
• Reduced Cash Handling 
• Avoid visits to  Branches
• Pay your employees on time 
• Make multiple salary payments through the file upload option in one go.
• Make various types of compensation payments like Bonus, Allowances, End of Service Benefit (EOSB), etc…
• Recurring outstanding payment option is available for Non-WPS payment; avoid file creation or data entry monthly

And there’s more!

Effective 1st April 2021,

• We are aligning our WPS and Non-WPS charges through Digital Banking and Branches
• No RAKBANK charges will be levied for Salary payment within RAKBANK that are made through Digital banking
• Click here to view the Conventional revised WPS payment charges effective 1st April 2021.
• Click here to view the Islamic revised WPS payment charges effective 1st April 2021.

   

How to register for WPS on Digital Banking?

WPS option will enabled for salary file upload by next working day.

How to make WPS payment through Digital banking?

You can also use our simple SIF (Salary Information File) converter available on our website or click here for download the SIF converter.

How to make Non WPS payment through Digital Banking?

Click here for Non WPS  file creation guide.

Files uploaded before 3 p.m. on working day will be processed on the same day.

For more details contact your Relationship Manager.

Conditions apply.

19/01/2021

Dear Customer,

Thank you for banking with RAKBANK.

As per the Central Bank of UAE regulatory requirements & internal policy, RAKBANK is required to maintain and update “Know Your Customer” (KYC) documents for all its customers.

In view of this, we urge you to submit the following documents to update your KYC records at the earliest for your Personal Account or any other product held with us to ensure uninterrupted banking services.

• Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) form to be filled and duly signed. (Click here to download the FATCA/CRS form)
• Sanctions declaration letter (Click here to download).
• Your Self-Attested copy of valid Emirates ID, Passport copy with Address page and Valid Visa.
• Further, you are required to clear unpaid charges if any, that may have accrued on your account due to non-maintenance of balance or any other charges.

Please treat this as an urgent reminder to update your KYC documents immediately to avoid any inconvenience in your account operations or product usage.

Kindly note that in the event of failure to submit the complete and signed forms & documents on or before 31st March 2021, the Bank will exercise its rights to close or restrict the non-compliant account or product.
 
You may submit your forms duly completed and signed with the documents through any of the following modes:

• Send an email on [email protected] from your registered e-mail address mentioning your full name as per the Bank’s records on the subject line. Please note that any document or form received from non-registered email ID will be rejected.
• Submit your filled & signed forms along with the necessary documents at your nearest RAKBANK Branch.

Once the above documents have been submitted, we may get in touch with you for further information as may be required for updating our internal KYC records, and we request your kind support in this matter.

Click here for further information about FATCA 
Click here for further information about CRS

Please ignore, if you have already submitted the form and the documents to the Bank.

Regards,

RAKBANK

17/12/2020

Dear Customer,

Salik is enhancing their systems between 10 PM Thursday, 17^th December, 2020 to 2 AM , Friday, 18^th December,2020.

During this time, you may encounter a temporary disruption while making a Salik Payment across our Digital channels (Digital Banking, IVR & ATM/EDM). 

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

15/12/2020

Dear Customer,

Thank you for banking with RAKBANK.

Following an instruction issued by Higher Sharia Authority (HSA) of UAECB, the term “late payment fee” has been revised to “Donation Amount” as per your Finance contracts.

This change is being made to be in compliance with Sharia requirements effective on January 1^st, 2021.

Kindly note that the Standard Terms and Conditions governing your existing contracts / agreement / facilities shall remain in full force. The details of the changes apply to the below mentioned Finances which you can view on the corresponding links/PDFs herein.

• Salam Personal Finance
• Ijarah Home Finance
• Murabaha Auto Finance
• Ijarah Auto Refinance
• Murabaha Credit Card
• Salam Business Finance
• Ijarah Asset Based Finance
• Murabaha Asset Based Finance
• Murabaha Overdraft and Term Finance
• Service Ijarah Finance Against Rental
• Ijarah Commercial Real Estate Financing
• RAKislamic Trade
• Standard Terms and Condition Applicable for Sharia Compliant Facilities 

Should you have any queries, please call us on 04-2130000 or reach out to your Relationship Manager.

We thank you for your continued patronage and assure you of our best attention at all times.

Regards,
 
RAKislamic

27/10/2020

Dear Customer,

Thank you for banking with RAKBANK.

Following a review of our business, we advise that effective 1^st January 2021, the daily interest calculation convention on personal accounts and deposits will be revised from 360 days to 365 days. 

This change is being made as per the related terms & conditions of accounts and deposits and in line with market industry practice. 

Kindly note that all deposits and lending interest rates are subject to change, at RAKBANK’s sole discretion, and are always available and updated on our website for your ready reference.

Should you have any queries, please call us on 04-2130000 or reach out to your Relationship Manager.

We thank you for your continued patronage and assure you of our best attention at all times.

Regards,

RAKBANK

27/10/2020

Dear Customer,

Thank you for banking with RAKBANK.

Following a review of our business, we advise that effective 1^st January 2021, the daily profit calculation convention on RAKislamic accounts based on Mudaraba as well as fixed deposits (Fawrun, Term Investment Deposit, & Wakala) will be revised from 360 days to 365 days. 

This change is being made as per the related terms & conditions of accounts and deposits and in line with market industry practice.

Kindly note that profit rates on all deposits and finances are subject to change, at RAKBANK’s sole discretion, and are always available and updated on our website for your ready reference.

Should you have any queries, please call us on 04-2130000 or reach out to your Relationship Manager.

We thank you for your continued patronage and assure you of our best attention at all times.

Regards,

RAKislamic

27/10/2020

Dear Customer,

Further to the Central Bank of UAE announcement of system integration at Dubai Islamic Bank (DIB) & Noor Bank, please note that DIB & Noor Bank will not participate in any clearing or payments systems between 28^th October 2020 and 31^st October 2020 (both days inclusive).

Based on the above, please note the following impact on cheques/DDS payments that will be received by RAKBANK during the said period: 

• All cheques drawn on DIB & Noor Bank, for payment to your accounts or your RAKBANK loan/finance received will be presented on 1^st November 2020. 
• All direct debit system payments (DDS) drawn on Dubai Islamic Bank towards your RAKBANK Loan/Finance or other account payments falling from 29^th October 2020 to 31^st October 2020 will be presented on 1^st November 2020.
• All direct debit system payments (DDS) drawn on Noor Bank towards your RAKBANK Loan/Finance or other account payments falling from 28^th October 2020 to 31^st October 2020 will be presented on 1^st November 2020.
• Any cheque received at any of our branches, ATMs/EDMs, or Drop Boxes during the same period will be presented for clearing on 1^st November 2020.

Please note that no charges will apply for the change in clearing dates.

We will work on ensuring that minimal impact of the above integration affects our customers. For any further queries, please do not hesitate to call us on 04-2130000 or chat with us through our Digital Banking platform or website.

Assuring you of our best attention at all times.

Regards, 

RAKBANK

14/10/2020

Dear Customer,

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

Kindly note that some of our services including Credit Card services & Islamic Finance enquiry options on Digital Banking will not be available from 01:00am to 05:00am on Saturday, 17^th October 2020.

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

06/10/2020

Dear Customer,

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

Kindly note that our Chat Services on our Digital Banking Channel & website www.rakbank.ae will not be available on Friday 9^th October 2020, between 12:00 am to 5:00 am. Further, during this outage, you may encounter a temporary disruption on transactions initiated from Digital Banking Channel. 

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
 

01/10/2020

Dear Customer,

We would like to notify you that interest rates on RAKbooster Savings Account will be revised effective 1^st November 2020.

For more details, kindly click here.

We value your relationship and thank you for entrusting RAKBANK with your banking needs.

Regards,

RAKBANK
 

30/09/2020

Dear Customer,

Thank you for banking with RAKBANK.

We would like to advise that the airport transfer service available on your RAKBANK Credit Card has been revised. 

Now your concierge desk contact number is 047047138. Please click here for terms and conditions. 

We assure you of our best attention at all times.

Regards,

RAKBANK

16/09/2020

Dear Customer, 

To serve you better, we are enhancing our banking systems. Our Account, Credit, Debit and Prepaid Card services across our channels (ATMs, Digital Banking, and IVR) will be unavailable on 19^th September 2020 from 1:00am to 6:00am.

Transactions and payments will also be unavailable during that time.

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

08/09/2020

Dear Customer,

Thank you for banking with RAKBANK. Our Cashback feature available on your RAKBANK Credit Card* opens up a world of unmatched rewards.

You can redeem the Cashback earned on your RAKBANK Credit Card by simply logging into Digital Banking and placing a service request.(Login - Services - Service Request - Credit Cards - Redeem Cashback)
 

Should you have any queries, please call us on 04 2130000 or chat with us.

Regards,

RAKBANK
 

*T&C apply

06/09/2020

Dear Customer,

RAKBANK is committed to providing you with a world-class banking experience.

Changing times lead to evolving experiences. Keeping you in mind, we are enhancing the RAKBANK Mobile Banking App to improve your banking experience from the safety of your home.

Whats coming:

• Clean, all-new intuitive design with a personalized view. 
• Pay bills, send money and everything else you always do - only smoother.
• Quick Biometric balance check - The most convenient way to access your balance without even logging in.
• Discover Products, Amazing Deals, Chat with us Live and locate your nearest ATM/Branches all at your fingertips.

Existing Digital Banking Users

• If you’re already using RAKBANK Digital Banking then you’ll simply need to update the App, and then log in with your existing User ID and Password.
• If you’ve registered for RAKToken it will be taken care of, your existing RAKToken PIN will seamlessly migrate across to the new App. You will not need to re-register.
• No impact on your existing beneficiaries and payees. These will all be in the new App, so you can continue using them as you did before. 

New to Digital Banking Users 

If you’re new to Digital Banking you’ll first need to Register, in order to create your User ID and Password. This can all be done within the App via the App’s log-in screen.

Manage your finances and bank conveniently from safety of your home with the RAKBANK Mobile Banking App. 

Regards,

RAKBANK
 

19/08/2020

Dear Customer,

We are delighted to announce that we have revised the RAKBANK RED Mastercard Credit Card features and made it more rewarding and exciting for you. The RED Credit Card now offers you fantastic Cashback in place of discount and a host of other unmatched benefits.

Effective 29/08/2020, you can earn Cashback on your local and international spends and redeem it at your convenience through Digital Banking.

In addition, you also enjoy an exciting range of value-packed features & benefits which include:

• Mastercard contactless Tap & Go.
   
•  RAKfoodie dining benefits.
   
•  Cardless payments with Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, Swatch PAY! and Garmin Pay.

Please note that Cashback must be redeemed within 15 months of accrual, subject to a minimum of AED 100.

We hope you enjoy the savings and benefits of our Cashback rewards.

For any queries, please feel free to call us on 600544049.

We assure you of our best services at all times.

Regards,

RAKBANK

Terms & Conditions apply