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Current Account

RAKBANK’s Current Account with a low minimum balance, and a choice of local and international currencies, makes it an attractive option.

  • Dirham, US Dollar, Pound Sterling or Euro – you decide
  • Get a Cheque book
  • FREE Debit Card, which gives you 24/7 global access  through any MasterCard ATM
  • Monthly current account statements detailing all transactions

You need to maintain a minimum average monthly balance in your RAKBANK Current Account. If not, the following fees in the currency of the account will be incurred.

 

Currency Minimum Average Monthly Balance Fee
AED 3,000 25 AED
USD 3,000* 25 AED
EUR 3,000* 25 AED
GBP 3,000* 25 AED

*Amount is in AED.

A salary transfer letter is required as additional documentation for customers opening the account for salary transfer purpose.

In line with the UAE’s Value Added Tax (VAT) implementation from 1st January 2018, VAT at the rate of 5% will be levied on RAKBANK’s fees and charges specified herein, wherever applicable and as per UAE law.