RAKBANK (National Bank of Ras Al Khaimah) Review
Is RAKBANK a Smart Choice for Expats Who Bank Mostly Digitally?
Editor’s Verdict for RAKBANK
RAKBANK (the National Bank of Ras Al Khaimah P.J.S.C.) has spent more than 50 years building a reputation as one of the UAE’s most accessible retail and SME banks. Majority-owned by the Government of Ras Al Khaimah, it punches well above its size in personal lending, credit cards, and small-business banking. Its branch network is deliberately lean – a few dozen branches concentrated in Ras Al Khaimah, Dubai, Abu Dhabi, Sharjah, Ajman, and Fujairah – with the bank pushing customers toward its digital channels. The trade-off is simple: strong products and approachable lending criteria, but fewer physical touchpoints than the big Dubai banks.
✓ Best For
- Salaried expats and UAE nationals who want quick, accessible personal loans and salary-transfer perks
- Small business owners and startups (RAKstarter, RAKvalue packages, merchant solutions)
- Everyday spenders who value cashback and air-miles cards such as Elevate, World, and Air Arabia Platinum
- Customers comfortable banking mainly through a mobile app rather than visiting branches
✗ Not Ideal For
- People who rely on a dense branch and counter network across every emirate
- Customers in Umm Al Quwain, where RAKBANK has no branch presence
- Those seeking premium global private-banking and wealth services at scale
Quick Facts
| Bank Type | Commercial / Retail / SME / Wholesale (Conventional & Islamic banking) |
|---|---|
| Founded | 1976 (National Bank of Ras Al Khaimah P.J.S.C.) |
| Headquarters | RAKBANK Building, Emirates Road (Sheikh Mohammed Bin Zayed Road), Ras Al Khaimah, UAE |
| Branch Network | Branches across 6 emirates: Ras Al Khaimah, Dubai, Abu Dhabi, Sharjah, Ajman, Fujairah |
| Ownership | Majority-owned by the Government of Ras Al Khaimah |
| Mobile App | RAKBANK Mobile Banking App (iOS & Android) |
| Online Banking | RAKBANK Digital Banking |
| Languages Supported | English, Arabic |
| SWIFT/BIC Code | NRAKAEAK (11-char: NRAKAEAKXXX) |
| Regulator | Central Bank of the United Arab Emirates |
📄 SWIFT Codes & Remittances
📍 Branch Locator
RAKBANK Pros & Cons
✓ Pros
- Accessible personal loans
RAKBANK is well known for approachable lending criteria and fast personal-loan decisions for salaried customers - Strong rewards cards
Elevate, World, and Air Arabia Platinum cards offer competitive cashback, air miles, and lifestyle perks - SME-friendly
RAKstarter and RAKvalue packages make it one of the easier banks for startups and small businesses to open accounts - Solid digital banking
The mobile app covers most everyday needs with biometric login and 24/7 chat support - Islamic banking option
RAKislamic offers Sharia-compliant alternatives across most product categories
✗ Cons
- Limited branch network
Far fewer branches than the big Dubai and Abu Dhabi banks; no presence in Umm Al Quwain - Branch hours vary widely
Some branches close on Saturdays and several smaller branches have shorter weekday hours - Single SWIFT routing
All international transfers route through one head-office BIC, with cover banks per currency - Fees on smaller accounts
Minimum-balance and service charges can apply to entry-level accounts without qualifying conditions - Smaller premium offering
Wealth and private-banking services are more limited than at larger UAE banks
RAKBANK Popular Products
Salary Transfer & Current Account
Most Popular
Who it’s for: Salaried expats and UAE nationals who want everyday banking plus access to easy credit.
Transferring your salary to RAKBANK unlocks the bank’s wider range of credit products, including personal loans with preferential terms, overdraft facilities, and credit cards. The current account comes with a debit Mastercard, digital banking, and the option of a chequebook. RAKBANK is one of the easier UAE banks to qualify for a personal loan once your salary is routed to it.
RAKBANK Elevate, World & Air Arabia Credit Cards
Best for Rewards
RAKBANK’s card line-up is one of its strongest selling points. The Elevate and World cards focus on cashback and everyday-spend rewards, while the Air Arabia Platinum card is built for travellers who want to earn air rewards on flights and daily purchases. Cards typically bundle in lifestyle offers, dining discounts, and easy-payment-plan options.
RAKstarter & Business Banking
For SMEs & Startups
Who it’s for: Entrepreneurs, freelancers, and small businesses that struggle to open accounts at larger banks.
RAKBANK has long positioned itself as an SME-first bank. RAKstarter is designed for new companies, while RAKvalue packages bundle business banking, trade, and cash-management services. Merchant solutions (POS and e-commerce payments via Network) round out the offering for retailers.
RAKBANK Fees & Charges to Know
Fees depend on the specific account and card; always confirm against the official schedule of charges before opening. Common charge types include:
Digital Experience
RAKBANK Mobile Banking App
The RAKBANK app is the bank’s primary channel and is designed to cover most everyday banking without a branch visit. It includes biometric (fingerprint / face ID) login, service requests, card management, bill payments, transfers, and an IBAN generator. Accessibility features such as voice commands, high-contrast mode, and text-to-speech are built in.
What works well: You can register, activate cards, block a lost card, update Emirates ID details, and recover your User ID or password directly in the app. A 24/7 chat agent handles routine queries, and digital banking is positioned as the main way RAKBANK serves customers given its lean branch footprint.
What to keep in mind: Because RAKBANK leans heavily on digital channels, some processes still require a branch visit – notably account closure for Power of Attorney holders or third parties, and certain in-person verifications.
Online Banking & RAKdirect
RAKBANK Online Banking and RAKdirect (phone banking) complement the app. RAKdirect lets you reach a phone-banking representative or use the automated IVR for everyday requests around the clock.
RAKBANK Contact Information & Support
Customer Service
Contact Centre (Conventional)
Islamic Banking
Money Assist (Debt Counselling)
General Enquiries
Complaints
Report Phishing / Fraud
Elite Customers
Corporate & Wholesale Banking
Fax
Email Contacts
Treasury: treasury@rakbank.ae
Business Banking: businessbanking@rakbank.ae
Trade Finance / Corporate: customerservice-tf@rakbank.ae
Cash Management Sales: cmssales@rakbank.ae
RAKempower Payroll: payroll@rakbank.ae
Mortgages: mortgages@rakbank.ae
Home Finance (Islamic): home.finance@rakbank.ae
Complaints Escalation: complaints.escalation@rakbank.ae
Head Office
RAKBANK Building, Emirates Road
(Sheikh Mohammed Bin Zayed Road)
Ras Al Khaimah, UAE
Corporate Office – Dubai
Dubai Silicon Oasis
P.O. Box 1531
Dubai, UAE
Quick Actions
RAKBANK SWIFT / BIC Code
RAKBANK uses a single SWIFT/BIC code for all international transfers, confirmed on the bank’s official SWIFT codes & remittances page. Incoming foreign-currency transfers are routed through currency-specific correspondent (cover) banks, but the beneficiary bank code remains the same.
| SWIFT Code | Branch / Department | Emirate | Address |
|---|---|---|---|
| NRAKAEAK (NRAKAEAKXXX) | Head Office (all branches) | Ras Al Khaimah | RAKBANK Building, Emirates Road |
If you’re not sure what this means, see what is a SWIFT code. To browse every bank, open the full UAE SWIFT code table, or check this SWIFT code.
RAKBANK Branch Network
RAKBANK operates a focused branch network across six emirates – Ras Al Khaimah, Dubai, Abu Dhabi (including Al Ain), Sharjah, Ajman, and Fujairah. The branch names and grouping below are taken from RAKBANK’s official banking-hours page; street addresses are taken from the official RAKBANK branch locator. RAKBANK has no branch in Umm Al Quwain, so that emirate is not listed. ATM-only locations are excluded.
Abu Dhabi
| Branch | Address |
|---|---|
| Al Ain | Khalifa Street, near Sheikh Mohammed Bin Salem Road, Al Ain, Abu Dhabi |
| Elite Centre Abu Dhabi | Al Hisn, Al Markaziyah West, 28 Al Bahhar St, Abu Dhabi |
| Khalidiyah | United Square, Oasis Tower, beside Khalidiya Mall, Al Khalidiyah, Abu Dhabi |
| Musaffah | M25 Building, opposite Village Mall, Mussafah, Abu Dhabi |
Dubai
| Branch | Address |
|---|---|
| Al Quoz | Sheikh Zayed Rd, Dubai |
| Al Qusais | 5, 13th Street, Al Qusais Industrial Second, Dubai |
| Deira Maktoum | Al Maktoum Area, Deira, near Emirates Concorde, Dubai |
| Dragon Mart | 1st Floor, Dragon Mart, near New Food Court, Dubai |
| Dubai Silicon Oasis (Rakbank Quick) | Dubai Silicon Oasis, Nadd Hessa, Dubai |
| Elite Center | Business Bay, Al Amal Street, Dubai |
| Emaar Business Park | Sheikh Zayed Road, Dubai |
| Gold Souq | Al Khor Street, Dubai |
| Motor City (Rakbank Quick) | Waitrose Motor City, Dubai |
| Umm Hurair Dubai | RAK Building, Umm Hurair 1, Bur Dubai, Dubai |
Sharjah
| Branch | Address |
|---|---|
| King Faisal Street | Zubaidi Tower A, King Faisal Street, opposite Choithram, Al Majaz 1, Sharjah |
| Muwaileh Sharjah | Maliha Road, Muwaileh Commercial, King Abdul Aziz Street, Sharjah |
Ajman
| Branch | Address |
|---|---|
| Ajman | Al Rashidiya 1, Hamdiya Road, Ajman |
Ras Al Khaimah
| Branch | Address |
|---|---|
| Al Dhait | Sheikh Mohammed Bin Salem Road, near Royal Furniture Showroom, Al Dhait, Ras Al Khaimah |
| Al Hamra | Al Hamra, Ras Al Khaimah |
| Al Mannai | Manei Area, Kalba Road, Ras Al Khaimah |
| Al Nakheel | Bin Daher Street, opposite Al Ansari Exchange, Al Nakheel, Ras Al Khaimah |
Fujairah
| Branch | Address |
|---|---|
| Fujairah | Hamad Bin Abdullah Road, Fujairah Trade Centre area, Fujairah |
Information may change – verify current terms, fees, and branch details on the official RAKBANK website before making financial decisions. This page is for informational purposes only and does not constitute financial advice. Branch street addresses were compiled from RAKBANK’s official branch locator; please confirm the exact location before visiting.
FAQ – RAKBANK (National Bank of Ras Al Khaimah)
How do I open a RAKBANK account as a resident?
Residents typically need a valid passport, Emirates ID, and proof of income such as a salary certificate. You can start the process in the RAKBANK app or website, or visit a branch. Routing your salary to RAKBANK unlocks better loan and card eligibility.
Can non-residents open a RAKBANK account?
Yes, RAKBANK offers non-resident banking. Requirements and minimum balances are higher than for resident accounts, and documentation will include passport and source-of-funds verification. Check the bank’s non-resident banking page for current conditions.
What is the RAKBANK SWIFT code?
RAKBANK uses a single SWIFT/BIC code: NRAKAEAK (11-character form NRAKAEAKXXX). For incoming wires, use this code with the beneficiary name “National Bank of Ras Al Khaimah (P.J.S.C.)”, your 23-digit IBAN, and the relevant correspondent bank for the currency.
In which emirates does RAKBANK have branches?
RAKBANK has branches in Ras Al Khaimah, Dubai, Abu Dhabi (including Al Ain), Sharjah, Ajman, and Fujairah. It does not have a branch in Umm Al Quwain. Many everyday services are handled through the app and phone banking rather than branches.
How do I block a lost or stolen card?
Log in to the RAKBANK app or online banking, go to Service Requests > Credit Cards, and choose to block your card. To report a lost or stolen card or suspicious activity, call 600 54 4049 and select option 4.
How do I close my RAKBANK account or facility?
Settle all outstanding dues, loans, and credit-card balances, then visit a RAKBANK branch. If you have left the UAE, you can contact the bank via website chat or by calling 600 54 4049 (or 600 54 0044 for Islamic Banking), but only the account holder can request this; Power of Attorney or third-party requests require a branch visit.
How do I update my Emirates ID or passport details?
Update Emirates ID details in the app via Service Requests > General Requests > Update Emirates ID details, or email a copy of the renewed Emirates ID to id-update@rakbank.ae.
How do I recover my User ID or password?
On the Sign In page, click “Forgot User ID / Password”, enter your account, debit, or credit card number, then verify with the OTP sent to your registered mobile. Your User ID is displayed on screen and you can set a new password.
Does RAKBANK offer Islamic banking?
Yes. RAKislamic provides Sharia-compliant accounts, cards, and financing supervised by an Internal Sharia Supervision Committee. Islamic banking has its own phone line at 600 54 0044.
Does RAKBANK support cryptocurrency?
RAKBANK has introduced a regulated Crypto Brokerage offering for eligible customers. Availability, eligibility, and terms are set by the bank – check the RAKBANK Crypto Brokerage page for current details.
