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Field Titles Explanation
Name of Applicant Enter the name of the account holder(s) as per bank records
Date Submission date in the format dd/mm/yyyy
Debit Select “Account Number” if your account is to be debited to make the transfer
Enter 13 digit account number OR
Select “Credit Card Number” and enter 16 digit card number if your credit card is
to be debited to make the transfer
Note: Card holder to visit branch and submit in person
Treasury approved FX rate Enter the special rate as approved by Treasury
Transfer

Currency – Select the currency of transfer Amount in Figures – Enter the amount to be transferred

For example:
Currency – USD
Amount in figures – 10,000
In the above example if the currency of debit is an AED account, AED 36,700 (AED - USD conversion rate taken for this example is at 3.67) will be debited and USD 10,000 will be transferred

Equivalent of
Currency – Select the currency
Amount in Figures – Enter the equivalent amount
Transfer Currency - Select the currency of transfer

For example:
Currency – AED
Amount in figures – 10,000
Transfer Currency – USD
In the above example if the currency of debit is an AED account, then AED 10,000 will be debited and USD 2718.87 (AED-USD conversion rate taken for this example is at 3.678) will be transferred


Amount in words- Amount in words will be auto-populated based on amount entered in figures

Beneficiary

Beneficiary Name – Enter the name(s) of the receiver of funds
IBAN / Account No. – Enter the IBAN or account number of the receiver of funds
International Bank Account Number (IBAN) is mandatory for payments to Saudi Arabia, Kuwait, Bahrain, EU and for AED payments within UAE
City / State – Enter the City and / or State of the beneficiary
Country of Residence / Incorporation – Select beneficiary’s country of residence / incorporation from drop-down

Beneficiary’s Bank

Name – Enter the name of the Receiver’s Bank in which the beneficiary holds the account
Branch – Enter the Branch of the Receiver’s bank, if known
City / State – Enter the City and/or State of the branch of the Receiver’s bank, if known
Country – Select from drop-down the country of Receiver’s bank
Bank Code – Select the appropriate Bank code category from the drop-down and input the code of the Beneficiary Bank

Intermediary Bank

Enter preferred Intermediary Bank details, if known

Charges

Select the appropriate charge (any one)
OUR – Both RAKBANK charges and other Bank charges will be borne by the sender
BEN – Both RAKBANK and other bank charges will be borne by the receiver
SHA – RAKBANK charges will be borne by the sender and other bank charges will be borne by the receiver

Purpose of Payment

Enter the purpose of the payment being made For AED payments, select the appropriate payment code for Individual and Business

Applicant Signature

Signature to match Bank records