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RAKBANK

RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C) a Public Joint Stock Company, is one of the oldest and most dynamic banks in the UAE. Founded in 1976, the Bank underwent a major transformation in 2001, with a shift in focus from Corporate Banking to Personal and Business Banking.

https://rakbank.ae/wps/portal/retail-banking

from 8 000 AED
General Information
Banking products
Сlients, private banking, asset management, investments, and loans
Account Types
Private; Corporate; Savings
Minimal Requirements
Minimum balance, €
The minimum average monthly account balance - AED 0, AED 25.000, AED 250.000 - depending on the tariff
Permissible number of transfers per month
The number of transfers is not restricted for business accounts
Efficiency of payment
The payments are executed same day
Tariffs
Transfer, € (for the amount of € 50 000)
Аny 3 transactions per month are free of charge, each subsequent transaction - AED 25
Crediting, € (for the amount of € 50,000)
Аny 3 transactions per month are free of charge, each subsequent transaction - AED 25
Account maintenance, € / year
Тhe account maintenance fee is charged if the account drops below the minimum balance and is ~ USD 14 per month
Account Opening
Requirements

For a personal account: proof of identity (passport); proof of address (not older than 3 months); Resident Visa; CV; bank reference letter + bank statements for the last 6 months.

For a corporate account: completed bank questionnaires for the company and owner; bank statements from the company account for the last 6 months (if the company is new, then bank statements from the owner’s other company account); copies of existing contracts with partners; office lease contract, cash flow chart, ownership structure chart, etc.

Departure to the bank
The beneficial owner must visit the country for account opening
Duration of application, months
1-2 months