Fund Transfer Charges

Fund Transfers

Charges (AED)
AED Payments within UAE - Personal Banking/Rakelite/Rakselect 1*
AED Payments within UAE - Business Banking 3*
AED Payments within UAE - RAKelite Business Banking Free*
AED Payments Outside UAE and Foreign currency payments within/outside UAE - Personal Banking/Rakelite/Rakselect 30**
AED Payments Outside UAE and Foreign currency payments within/outside UAE - Business Banking 25**
AED Payments Outside UAE and Foreign currency payments within/outside UAE - RAKelite Business Banking Free**
Amendment/Cancellation/Fate enquiry of Electronic Fund Transfers sent via swift for Account Holders 50***
*
Plus additional charge of AED 1/- for outward EFT within UAE (Including Standing Instructions), other than Salary/EOSB/Pension/Allowances where all charges are remitters account.
**
Plus beneficiary bank charges, if any (including Standing instructions). Additional charges will apply where payment is to be sent with charges on remitter depending on the country/currency of payment. 
***
AED 50 is applicable for Personal Banking/Rakelite/Rakselect customers; AED 25 charged for Business Banking customers. Plus overseas bank charges, if any.
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.