RAKBANK's tie-up with UAE Exchange offers convenient credit card payment option

UAE Exchange will issue a free "Swift Card" to all RAKBANK Credit Cardholders upon settling their first Credit Card bill at any of their outlets. The UAE Exchange Swift Card will ensure faster, hassle-free transactions for all future RAKBANK Credit Card payments at UAE Exchange. With this personalized Card, RAKBANK Credit Cardholders will no longer have to provide their details (like name, card number etc) again when they make another payment at any of the UAE Exchange outlets.

UAE Exchange agents will accept cash payments up to a maximum of AED 20,000 per RAKBANK Card on any single day, and will issue a receipt for each Card payment. The Customer's Credit Card account will be credited on the same day provided the payment is made before 6:00 p.m. and on the next day if the payment is made after 6:00 p.m. This convenience is yet another free service for RAKBANK Credit Cardholders.

"We believe in banking that's designed to suit people's lives, not the other way around" said Murray Sims, Head of Personal Banking. "In today's busy world, it sure is a burden to rush to your bank merely to settle a credit card bill. That's why RAKBANK has tied up with the UAE Exchange, which will enable us to stretch banking hours beyond the usual. With this tie-up, we have also managed to stretch our banking locations too. RAKBANK Credit Cardholders can now settle their card's outstanding payments anytime between 8.00am and 10.00pm at any UAE Exchange branch," he added.

By making their Credit Card payments at UAE Exchange outlets, RAKBANK Credit Cardholders also get bonus chances to win prizes in two exceptional draws. RAKBANK MasterCard Credit Card holders can win one million Dirhams every 3 months as well as AED 250,000 in monthly draws, whilst RAKBANK Visa Cardholders get chances to win 6 Mercedes-Benz S 350s and AED 600,000 every month.

RAKBANK was recently nominated as one of the top three credit card issuers in the GCC in the Banker Middle East's prestigious GCC Banking Awards 2004. The nomination was well deserved especially that RAKBANK was the first UAE credit card issuer to announce "Free for life" cards, the first to offer reduced interest rates, the first to launch "document-free" Balance Transfers and the first to launch the innovative Credit Card Cheque facility that is available 24 hours a day through their toll free phone banking service.