RAKBANK - ITA Business Consultants

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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

6 610 AED

Open Account

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 balance in the account is AED 25 000* (~USD 6 800)

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 5 transactions per month are free of charge, further 6-20 transactions: ~ USD 2.7, any further transactions: ~ USD 6.8

Crediting, € (for the amount of € 50,000)

Аny 5 transactions per month are free of charge, further 6-20 transactions: ~ USD 2.7, any further transactions: ~ USD 6.8

Account maintenance, € / year

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