Customer Notice Board

15/04/2019

Dear Customer,

Please note there are changes to the Service & Price guide for Business Account Services effective 1^st May 2019.
 
Click here to view the detailed Conventional Business Account Service and Price Guide.

Click here to view the detailed Islamic Business Account Service and Price Guide.
 
Thank you for your continued patronage.
 
Regards,
RAKBANK Business Banking

14/04/2019

Dear Customer,
 
Thank you for banking with RAKBANK. 

We wish to advise that effective 1^st May 2019, the business hours for our Al Qusais branch, located in Dubai will be revised and the branch will operate from Saturday to Thursday, 8:00 AM – 3:00 PM.
 
The Branch will continue to remain closed on Fridays and public holidays as announced by the Central Bank of the UAE.
 
Click here to locate any of our other branches or login to our Digital Banking service to conveniently access a host of banking services without visiting the branch or waiting in queues.  

Please do not hesitate to call us on 04 2130000 or chat with us at www.rakbank.ae for any queries that you may have.

Regards
RAKBANK

11/04/2019

Dear Customer,
 
Thank you for banking with RAKBANK.
 
We are enhancing our banking systems to serve you better and we request you to kindly take note that our Digital Banking, ATM & IVR services will not be available between 2:30 AM till 6:00 AM on Saturday 13^th April 2019 due to the system upgrade.

Further, our Credit, Debit, and Prepaid Card services including transactions & payments will be unavailable during that time.

We regret the service interruption and thank you for your understanding.
 
In case of any queries during the affected time, please call us on 04 2130000.
 
Assuring you of our best services.
 
Regards
RAKBANK

03/04/2019

Dear Customer,

RAKBANK is pleased to announce the launch of the National Loan Scheme (NLS), a program that is aligned with the Central Bank of UAE’s initiative to provide debt relief to our eligible* UAE National Loan customers.
 
To know whether you are eligible for the program, please call us on 04-2130000. 

*NLS is open only to UAE National borrowers who had availed loans prior to May 2011, whose repayment amount is greater than 50% of their monthly salary (30% for Pensioners) and the remaining repayment period exceeds 48 months.

Regards,

RAKBANK

01/04/2019

Dear Customer,

As per Central Bank circular, banks will conduct Al Etihad Credit Bureau (AECB) checks prior to issuing any cheque book for accounts opened from 1st April 2019 and operational for less than 6 months. Please note that if your account is opened before 1st April 2019, the process of issuing cheque book remains unchanged.  
 
AECB is a Federal Government organization that collects credit data, information and financial commitments from banks and financial institutions to provide accurate Credit Reports to individuals, financial institutions and companies in the UAE as allowed by the laws and regulations of the UAE.
 
Based on the above, we wish to advise you of the following changes effective
1st April 2019: 

• The 1st cheque book of 10 leaves is free and will be issued within 6 months of account opening if the applicants AECB report is satisfactory.
• For subsequent cheque books requests, based on eligibility, a 10 or 25 leaf cheque book will be issued and charges as per our published Service & Price Guide will apply.
• Should you have any queries, please call us on 04-2130000. Assuring you of our best services at all times.

Regards,

RAKBANK

01/04/2019

Dear Customer,

As a participating bank in the region to use and provide data to Al Etihad Credit Bureau (AECB), the bank is required to conduct an AECB check prior to sanction of any credit facility or loan. AECB is a Federal Government organization that collects credit data, information and financial commitments from banks and financial institutions in order to provide accurate credit reports to individuals, financial institutions and companies in the UAE as allowed by the laws and regulations of the UAE.

Additionally, pursuant to the current Central Bank circular pertaining to issuance of cheque books, all banks are now mandated to conduct on Al Etihad Credit Bureau (AECB) check prior to issuance to new clients, with effect from 1st April 2019.

The circular broadly outlines the below: 

• A new client is a customer with a banking relationship of less than 6 months
• The 1st cheque book of 10 leaves will be issued within 6 months if the AECB report is satisfactory
• A second cheque book of 10 leaves may be additionally issued within a period of 6 months, subject to satisfactory account conduct

Please feel free to contact your Relationship Manager or alternatively reach out to us on 04-2130000 in case of any clarifications. Assuring you of our best services at all times.

Regards,

RAKBANK

31/03/2019

Dear Customer,
 
Pursuant to the current Central Bank circular pertaining to issuance of cheque books, all banks are now mandated to conduct a check on Al Etihad Credit Bureau (AECB) prior to issuance of cheque book to new clients, with effect from 1st April 2019. With respect to use of cheque books, we would also like to encourage usage of our enhanced Digital Banking platform for making payments at your convenience at very competitive pricing.
 
The circular broadly outlines the below:

• A new client is a customer with a banking relationship of less than 6 months
• The 1st cheque book of 10 leaves will be issued within 6 months if the AECB report is satisfactory;
• A second cheque book of 10 leaves may be additionally issued within a period of 6 months, subject to satisfactory account conduct.

AECB is a Federal Government organization that collects credit data, information and financial commitments from banks and financial institutions in order to provide accurate credit reports to individuals, financial institutions and companies in the UAE as allowed by the laws and regulations of the UAE. As a participating bank in the region to use and provide data to Al Etihad Credit Bureau (AECB), we also require to conduct an AECB check prior to sanction of any credit facilities or cheque books to new clients, now.
 
Please feel free to contact your Relationship Manager or alternatively reach out to us on 04-2130000 in case of any clarification. Assuring you of our best services at all times.
 

Regards,

RAKBANK Business Banking

21/03/2019

We regret the service interruption and thank you for your understanding.
 
In case of any queries during the affected time, please call us on 04 2130000.
 
Assuring you of our best services.

Regards

RAKBANK
 

07/03/2019

Dear Customer,
 
Thank you for banking with RAKBANK. 

As part of our constant endeavor to enhance our services and ensure a smooth, convenient banking experience across our channels for you, we would like to highlight some recent process changes along with some regulatory requirement updates.

Process Change on Deliverables:

• We have revised our process for delivery of returned cheques in the Emirates of Dubai, Sharjah and Ajman. All returned cheques will be delivered to you by courier only and a fee* of AED 10.50 per cheque will apply. However, all cheques with the value of AED 250,000 and above will be retained at the branch for collection. It is important to note that our courier partners will return the cheques back to us if they are unable to deliver to you in 7 working days, post which you may visit any of our branches to place a request for collection of the cheque.
   
• Cheque book will be delivered by courier to you or your Authorized Person, as nominated by you, and collection of cheque books from branches will be discontinued. You can conveniently place your cheque book request through Digital Banking and the courier will deliver it to your Authorized Person if you are not available.
   
• Various services like Letters, Certificates, Cheques and Cards will be sent to your doorstep through our professional courier partners. You can conveniently place the respective requests through Digital Banking or via any of our Branches. The courier company will contact you to deliver your request, without the hassle of visiting the branch again.

Process Change - Profile Change, POA addition & Additional account opening: 

Effective March 3rd 2019, the process of updating your profile with the Bank at Branches will be enhanced as follows:

a) You can conveniently email us at profilechange@rakbank.ae. to book an appointment to complete any of the following services. Please specify the type of service that you would like to perform along with the Branch that you would like to visit (as per point c below). 

• Profile change which includes Change in company name, legal status, ownership /shareholders or signatories
• To add signatory (ies) to your existing account / POA ( Power of Attorney) addition
• To open additional accounts under the currently held accounts

b) You will receive an email from us with the appointment date and time, along with the list of documents required to be available with you. 
 
c) Once the appointment is finalised, our dedicated staff at Branches listed below will assist you with the required service. 
 

• Ras Al Khaimah – Al Nakheel Branch 
• Sharjah – Al Rolla Branch
• Dubai – Umm Hurair Branch
• Dubai – Sheikh Zayed Road Branch
• Dubai – Al Quoz Branch
• Dubai – Al Qusais Branch
• Dubai – Dragon Mart Branch
• Ajman – Ajman Branch
• Al Ain – Al Ain Branch
• Abu Dhabi – Musaffah Branch 
• Abu Dhabi – Khalidiya Branch 

Process change- Business Banking Forms:

• The ‘Temporary Authorization’ form has been removed from our website to safeguard your interest and avoid any misuse of the form. As part of the revised process, a ‘Temporary Authorization’ form or any other service will only be handed over to an authorized person at any of our branches subject to verification over a phone call on your registered number with the Bank and an approval from you.
   
• We have simplified our various forms and introduce to you a “Single Services form” that includes requests like Reference letter, Balance confirmation letter, IBAN letter, Account closure confirmation letter, Statement of Account request, Cheque Book and Debit card services form. This form is available on our website as “Account Services Request” under “Downloadable Forms”.

 
Regulatory Requirements:

Note: The account Payee Name on the cheque to be as per the account name on the Bank records. You may verify your account name from your bank statement, digital banking or your cheque book. Make sure that you have sufficient funds available in your account at least one day prior to the cheques being presented to avoid it from getting returned and to avoid any charges. Any alteration to the cheque issued needs to be countersigned by the authorized signatory of the account.
 
Please feel free to call us on 04-2130000.

We truly value your relationship with us.

Regards,       

RAKBANK

07/03/2019

Dear Customer,

To serve you better, we are enhancing our Banking systems. Our services related to Account, Credit, Debit and Prepaid Cards across our channels (ATMs, Digital Banking, website, and IVR) will be unavailable on Saturday 9th March 2019 from 2:30 AM to 6:00 AM.

Transactions and payments will also be unavailable during that time. 

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

In case of any queries during the affected time, please call us on 04-2130000.

Assuring you of our best services.

Regards,

RAKBANK