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RAKMoneyTransfer - Credit Card
Another great benefit from RAKBANK Credit Cards and RAKMoneyTransfer.
Sending money to your loved ones back home just became much easier. Now you can remit funds to India, Philippines, Nepal, Sri Lanka, Pakistan, Bangladesh and 24 countries in Europe through RAKMoneyTransfer using your RAKBANK or RAKislamic Credit Cards. That means you can send money without waiting for your salary to arrive. Plus you enjoy all these benefits:
Key features
- Up to 55 days interest-free credit period- Send money today and pay no interest for 55 days.
- No cash advance fee- The remittance will be treated just like any retail transaction, with no Cash Advance fee. Only standard remittance fees apply*.
- High remittance amounts- The remittance limit eligible to be considered as retail transaction on each Card type is given below:
| RAKBANK Cards / type | Maximum Retail Remittance Limit (AED) per billing cycle |
|---|---|
| RED, VISA Classic & Gold | 2,500 |
|
Kalyan / Titanium / High Flyer / My Ras Al Khaimah / Air Arabia / FC Barcelona / Platinum |
5,000 |
| World | 7,500 |
| Emirates Skywards World Elite | 7,500 |
| RAKislamic Cards / type | Maximum Retail Remittance Limit (AED) per billing cycle |
|---|---|
| Murabaha Gold | 2,500 |
| MyRAK Islamic / Murabaha Platinum | 5,000 |
| Murabaha World | 7,500 |
| Islamic Emirates Skywards World Elite | 7,500 |
Minimum remittance amount using Credit Cards is AED 100.
- Send money as often as you want- You can make as many remittances as you desire within the maximum retail remittance limit above. You can also remit money over and above the predefined maximum retail remittance limit up to the available cash limit on your Credit Card. However remittance transactions performed beyond the maximum retail remittance limit will be treated as cash transactions and will attract finance charges from the date of transaction as per the existing Service and Price guide. However, no cash advance fee will be charged.
- Send money from anywhere- Send money using RAKMoneyTransfer service through Digital Banking from wherever you are, or directly from any of our branches. You can now send money to India, Philippines, Nepal, Sri Lanka, Pakistan, Bangladesh and 24 countries in Europe through RAKMoneyTransfer.
- Great exchange rates- What’s more, with RAKMoneyTransfer, you enjoy fast remittances at competitive rates
*See Service & Price Guide for details
Conditions apply
Disclaimer
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.