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At RAKBANK we constantly strive to ensure your business runs smoothly with the right amount of money, at the right place, at the right time, with the right information and with the right services. All backed by the latest security schemes you need for your business to be well protected and safe.

Our Cash Management Solutions do not only offer you easy Digital Banking access but also many other benefits that are crucial to the success of your business:

  • Minimize risks
  • Greater control
  • Reduce banking expenses
  • Optimize liquidity management
  • Improve efficiency and productivity
     

Take advantage of a comprehensive suite of services that enables you to manage your accounts 24 hours a day / 7 days a week:

  • Viewing of Accounts Position
  • Statement & Different Reports Extraction
  • Multi Companies Accounts Grouping for Single Sign-On
  • Intra Accounts Transfers
  • Local and International Payments in different currencies
  • Single Payment or Bulk Payments File Upload
  • Salaries – WPS and Non-WPS
  • Special Instructions Request
  • Trade Finance Import & Export 
  • Liquidity Management Sweep / Notional Pooling
  • Access from different mobile platforms for viewing and approval
  • and many more that will enhance your banking experience

Save time and money by enrolling to our Digital Banking with transactions initiation module and our Bulk Payments File Functionality.

Cash is collected in sealed secure bags at pre-agreed time from your premises and then transported safely in armored car to the cash collection center from where it’s deposited into your account. This service is 100% secure and fully insured.

​The Machine will be installed at your desired location for bulk cash deposits. Once the cash is in the machine, it is completely secured and at the full responsibility of the Bank. Reconciliation reports will be shared for each deposit credited to your account at agreed time intervals.

A dedicated secure Courier Service, for collecting and returning your documents and cheques from RAKBANK to your premises and vice versa. They are collected in a sealed bag from your premises at an agreed time and delivered to the bank for processing and clearing respectively. In the event of couriered cheques, latter will be couriered back to your office on the next working date. This service is usually bundled with our Cheque Clearing Scanning Machine.

A special Cheque Scanning Machine will be installed at your office to allow you to deposit cheques at your convenience. You may scan multiple cheques simultaneously at the same time and receive a comprehensive report on status of all cheques for ease of reconciliation and any required action in case of returned once. The generated computerized report is sufficient to be presented to the adequate authority in case of escalation. 

Give your business a powerful marketing tool with customized cheques with your logo and design. We can also provide special artwork for you to print cheques in-house if you have the proper technical capabilities.

This solution provides an automated mechanism to transfer data between the Bank and your Accounting System securely using preferred file formats, network protocols and security standards. Payment files will be generated in your ERP in a predefined format and saved in a secure folder in encrypted format. RAKBANK’S H2H solution will read the file from the folder for automatic processing. 

This interface solution will significantly reduce the number of cheques / paper based manual transfers issued and thus the cost of each transaction. It will empower your Payments automation with additional security features and quick turnaround time.

The service provides response acknowledgements of received and processed transactions status in addition to account statement in MT940 Format for ease of upload into ERP / Accounting System for seamless reconciliation.

This service allow receipt of Bank Statement in SWIFT message format through different sort of channels whether to generate, transmit or submit to those entitled via a safe and secure manner.

With MT940/950 end-of-day account statement, you will have precise and structured daily information of all entries booked on the account for the previous business day.  
 
RAKBANK’s MT940/950 service will provide:

  • MT940/950 Transmission to other local or international Banks SWIFT address for reporting on their online platform
  • MT940/950 Submission via Host to Host for integration with ERP / Accounting System for ease of reconciliation
  • MT 940/950 Download from our Digital Banking Platform for different reconciliation and integration usage
  • MT940/950 Transmission directly to your SWIFT registered address as member Score or Macug

Benefit from a comprehensive range of services to identify, manage and optimize liquidity. Take control with an automated, simplified and convenient method to manage daily funds between accounts and their consolidation thanks to Target Balancing, Zero Balancing, Range Based Balancing, Selective Sweeps, Sweep In, Sweep Out and Reverse Sweep in addition to cover Deficit and Overdrafts.

The functionality will enable linkage of physical (Cash Concentration) or virtual (Notional Pooling) between same entity accounts or across group of companies accounts, movement of funds from designated Sub Accounts to a Master Account, multiple ones or vice versa for set-off purposes in case of insufficient funds based on required structure and anticipated Cash Flow budget allocation.

If you wish to avail the Cash Management Solutions write to us at Apply-cashmanagement@rakbank.ae
 

Other Services

We can also provide a wide range of other solutions based on your individual business needs:

  • Acquiring Services:

The latest POS Cards Machines 

Pocket POS

Payment Gateways for e-Commerce

e-Invoicing 

For more information kindly visit RAKBANKpay page.
 

  • Retail Banking Payroll Package Schemes

For more information kindly visit RAKempower page

Information & Tools