RAKmore Salary Transfer Account

Short for the National Bank of Ras Al Khaimah, RAKBANK is one of the pioneers in providing banking services and products of high standards in the UAE. With 27 branches and a diverse portfolio of banking products, RAKBANK has offerings across both personal and business banking. Bank accounts, salary transfer accounts, and deposit accounts are the most sought-after products of this bank.

This article will narrow down the bank accounts and discuss the RAKmore Salary Transfer Account, which can help you get more from your salary. It is a current account that enables you to save and make transactions using your salary. 

Read below to know more about the features and benefits of RAKmore Salary Transfer Accounts and how to apply for and close the account. You will also get insights on the services and charges linked to this account.

Features and Benefits of the RAKmore Salary Transfer Account

RAKmore Salary Transfer Account enables you to transfer your salary to a RAKBANK bank account and avail of attractive offers on salary accounts in the UAE. This bank account is designed to make banking smoother, easier, and more convenient for you. 

Given below are the key features and benefits of the RAKmore Salary Transfer Account -

• Open the current account with zero balance 
• Get a complimentary debit card using which you can access funds 24/7 both domestically and internationally via any of the Mastercard ATMs
• Depending on your eligibility, you can get a free-for-life credit card
• 1 complimentary chequebook per month
• Limitless, complimentary domestic remittances via digital banking
• 1 complimentary international SWIFT remittance per month via digital banking (RAKMoney Transfer is not included)
• Maximum of 3 free cash withdrawals from other bank’s ATMs per month
• Exclusive privilege if you have a salary of more than AED 50,000 - get an opportunity to open a RAKelite account and avail of a World Credit Card for the same 
• The minimum salary required to open the account is AED 5,000

Additional Information Related to the RAKmore Salary Transfer Bank Account

Check out the pointers below for some additional information associated with RAKmore Salary Transfer Account -

• No initial deposit is required to open the account 
• You cannot open a joint account for RAKmore Salary Transfer Bank Account
• Non-RAKBANK ATM cash withdrawals can be performed as per the following limits (applicable on a monthly basis) -

Keep in mind that this benefit is available only for RAKBANK charges - other bank charges would still apply for other remittances performed by you 

You can open the RAKmore Salary Transfer Bank Account based on your salary -

• Normal Accounts for salary between AED 5,000 and AED 20,000
• RAKSelect Accounts for salary between AED 20,000 to AED 50,000
• RAKElite Accounts for salary above AED 50,000

Services and Charges on RAKmore Salary Transfer Account

Tabled below are the fees and service charges associated with RAKmore Salary Transfer Bank Account - 

Note - All the service charges are inclusive of 5% VAT. 

Eligibility Criteria to Apply for RAKmore Salary Transfer Bank Account

You must fulfil the following eligibility criteria to apply for a RAKmore Salary Transfer Account -

• Minimum Age - 21 years
• Minimum Salary Required - AED 5,000
• Nationality - UAE national or a resident  

Documents Required to Open RAKmore Salary Transfer Bank Account 

The bank will require these documents from you when you apply for a RAKmore Salary Transfer Bank Account -

1. A filled-in account opening application form
2. Standard documents such as your Emirates ID, address proof, Passport and Resident Visa, and so forth
3. Proof of Salary (any of the following) -

• Offer Letter
• Salary Transfer Letter
• Salary Certificate or Slip
• Copy of Labour Contract

How to Apply for a RAKmore Salary Transfer Account?

You can apply for a RAKmore Salary Transfer Account using any of the options discussed below -

Via Policybazaar UAE

The application process for a RAKmore Salary Transfer Bank Account can be completed quite conveniently with Policybazaar UAE. As an online third-party aggregator website, we help you in comparing the best options from a pool of the most promising bank accounts from the leading banking institutions in the UAE. 

Policybazaar.ae website is straightforward and easy to use. Simply fill in the lead form with all the essential information on the page for bank accounts to be directed to the quotes page. On the quotes page, you can read through the features and benefits of the RAKmore Salary Transfer Bank Account and click on the Apply button to send your application. 

Other Modes

You can also apply for a RAKmore Salary Transfer Bank Account by visiting your nearest bank branch. Carry copies of all the essential documents including your income proof to the bank. Connect with an executive at the branch to obtain the application form and fill it out with the specified details and affix the necessary documents. Submit the form at the dedicated counter.

How to Close Your RAKmore Salary Transfer Bank Account?

If you wish to close your RAKmore Salary Transfer Account, you can simply connect with the dedicated relationship manager and learn about the further process. You can also connect with the dedicated customer care executive of the bank by calling +9714 2130000 or 600 54 4049. If you are abroad and want to close your Salary Transfer Account, call on +9717 2064444. 

To know more about RAKmore Salary Transfer Bank Account, read the following FAQ section. 

RAKmore Salary Transfer Bank Account Frequently Asked Questions