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Frequently Asked Questions

RAKmore

RAKmore account is a salary transfer account which offers range of banking benefits to make banking easier, faster and more convenient for customers who transfer their salary to RAKBANK.

  • Current account with no minimum balance requirement
  • One cheque book free / month
  • Free for life Credit Card based on eligibility 
  • Unlimited free domestic remittances through digital banking 
  • One free international remittance per month through swift through digital banking. RAKMoneyTransfer is excluded
  • Up to 4* Free Non-RAKBANK ATM Cash withdrawals per month
    *Free remittances will be as per below segments
RAKElite     RAKSelect Normal Accounts
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Above benefits will only be for RAK bank charges. Corresponding bank charges will still be applicable for all remittances performed by the customers with the RAKmore benefit.

​Customer can visit any branch to open the RAKmore account. 

Customers should have a salary greater than AED 5K to be able to open a RAKmore account. 

Standard account opening documents along with proof of salary.

No initial deposit required to open a RAKmore account.

No

The customer will be charged upfront for the respective free services. However same will be reversed at the end of the day. The reversed amount can be seen in the monthly statement.

Customer’s current account will be opened under relevant segment based on salary: 
 

  • Salary between AED 5k – AED 20K – Normal Accounts
  • Salary between AED 20k-Aed 50k – RAKselect
  • Salary above AED 50K – RAKElite
  • Salary Certificate
  • Salary Transfer Letter
  • Pay Slip
  • Labour Contract / MOL print out
  • Offer Letter ( for employees under probation)

 

Yes, a regular current account can be converted to a salary transfer account.  Customer can visit nearest branch and place the request along with any of the above income proof