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Swift Codes Remittances

The Central Bank of UAE has announced the launch of an enhanced local electronic funds transfer system (UAEFTS). These enhancements will improve payment and returns processing times for electronic payments within the UAE. ​

  • Effective 30 September 2017, all customers are required to provide a valid reason for the transfer for both Local and Cross-border payments in AED currency  to allow Banks to accept and process payment instructions. Any payment instruction submitted to RAKBANK without a valid Reason for the transfer (Purpose of payment or Transaction Type Code) may be rejected or delayed. Please note that salaries processed via The Wages Protection System (WPS) do not require a Transaction Type Code.
  • All domestic payment instructions are required to contain an International Bank Account Number (IBAN) in the beneficiary account number field. Any payment instructions including WPS payments submitted without IBAN, with the exception of Credit Card payments, will be rejected. In addition, all credit to accounts held in banks operating in the UAE will be effected solely based on the beneficiary IBAN.
  • If you have standing orders or instructions for effecting payments in future, you are requested to amend the same, by providing a valid Reason for the transfer (Purpose of payment or Transaction Type Code). This can be done through RAKBANK Digital Banking Channel. 
  • Valid Reason for the transfer (Purpose of payment or Transaction Type Code) should be selected based on the type of customer relationship (Individual or Business Customer) that you hold with RAKBANK and the type of electronic payment namely local or cross-border payment. 

The list of valid Reason for the transfer (Purpose of payment or Transaction Type Code for Individuals and Business ) is available in the links below:

Click here to view the Individual Purpose of payment or Transaction Type Code

Click here to view the Business Purpose of payment or Transaction Type Code

Beneficiary Bank: NATIONAL BANK OF RAS AL KHAIMAH (P.J.S.C)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (13 digit account number)

Cover to be effected through:

Standard Chartered Bank, New York, USA.
SWIFT: SCBLUS33

OR

Citi Bank, New York, USA.
SWIFT: CITIUS33

Beneficiary Bank: NATIONAL BANK OF RAS AL KHAIMAH (P.J.S.C)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (13 digit account number)

Cover to be effected through:

Lloyds TSB Bank PLC, London. United Kingdom.
SWIFT: LOYDGB2L

Beneficiary Bank: NATIONAL BANK OF RAS AL KHAIMAH (P.J.S.C)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (13 digit account number)

Cover to be effected through:

DEUTSCHE BANK AG, FRANKFURT
SWIFT: DEUTDEFF

OR

BANCO SANTANDER S.A., SPAIN
SWIFT: BSCHESMM

OR

ING BELGIUM NV/SA, BRUSSELS
SWIFT: BBRUBEBB010

Beneficiary Bank: NATIONAL BANK OF RAS AL KHAIMAH (P.J.S.C)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (13 digit account number)

Cover to be effected through:

Bank of Montreal, Canada
SWIFT: BOFMCAT2

Beneficiary Bank: NATIONAL BANK OF RAS AL KHAIMAH (P.J.S.C)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (13 digit account number)

Cover to be effected through:

Australia & New Zealand Banking Group Ltd.
International Clearings
International Payments Operations
SWIFT: ANZBAU3M

Beneficiary Bank: NATIONAL BANK OF RAS AL KHAIMAH (P.J.S.C)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (13 digit account number)

Cover to be effected through:

THE NATIONAL COMMERCIAL BANK
SWIFT: NCBKSAJE

Beneficiary Bank: NATIONAL BANK OF RAS AL KHAIMAH (P.J.S.C)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (13 digit account number)

Cover to be effected through:

STANDARD CHARTERED BANK,SINGAPORE
SWIFT: SCBLSGSG

Beneficiary Bank: NATIONAL BANK OF RAS AL KHAIMAH (P.J.S.C)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (13 digit account number)

Cover to be effected through:

NATIONAL BANK OF OMAN, MUSCAT
SWIFT: NBOMOMRX

 

Click here for Remittances Service and Price Guide