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(AED)
Annual Fees
Primary Card Free for life
Supplementary Card Free for life
Finance Charges (per month)
Retail Transactions 3.45%
Balance Transfers
(BT)
1
1.50%
Credit Card Cheques (CCC)
2
2.25%
Cash Advances
2
3.45%
Smart Cash (SC)
2
2%
Other Fees & Charges
Cash Advance Fee 3% or AED 99
(whichever is higher)
Card Replacement Fee 75
Overlimit Fee 275
Late Payment Fee 230
Duplicate Statement Fee 45 (each statement)
(before last statement)
Returned Cheque Fee 100
Sales Voucher Copy Fee 65
International Courier Charges 100
Credit Card Cheque (CCC) Processing Fee 1% (Min AED 50, Max AED 250)
Smart Cash (SC) Processing Fee 100
Processing fee for Easy Payment 3 months AED 49
6 months AED 49
Plan (EPP) at participating merchants 9 months 1.5%
12 months 2%
Early Settlement/Cancellation Fee
for BT/CCC/SC/All EPP plans
(current month interest will be fully charged)
249
International Transaction Fee for Purchase
in Non AED currency 2%
of Transaction Amount
3
in AED currency 2.5% of Transaction Amount
Credit Shield Insurance
(on monthly statement balance) 0.99%
Payment through Exchange House Fee 3 (per transaction)
International Remittance Fee
4
75
Fate enquiry of International Remittance
5
50
Service and Price Guide with effect from 27-02-2019
RAKBANK RED, Standard, nmc, Géant La Carte
Mastercard®, Classic & Gold Visa
PPS-00599/V122018
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Fee for issuance of Managers Cheque
for refund of excess balance on Card 25
Rescheduling Fees Up to 1% of the Card
Outstanding
Case release charge 525
e-statement Fee Nil
Printed Statement Delivery Fee 5 per statement
Liability/No liability letter 50
Repayment Terms
Minimum Amount Due 3% or AED 100
(whichever is higher)
No. of days from Statement Date
to Payment Due Date 25 days
Maximum interest free period Up to 55 days
(retail transactions only)
Cash Advance Limit 80% of Credit Card Limit
1. No processing fee is applicable for these BT transactions. Finance charges will be applicable from the
date of transaction till the amount is paid in full.
2. Finance charges will be applicable from the date of transaction till the amount is paid in full.
3.
This fee is charged in addition to the standard processing fee charged by Mastercard International or
Visa International and is applicable to transactions performed in any currency other than UAE Dirhams
(approximately 1.15%)
.
4. International Remittance will be treated as a Cash Advance transaction. Cash Advance fee is not
applicable. Overseas bank charges, if any, will be applicable.
5. Overseas bank charges, if any, will be applicable.
Please Note
•
Monthly finance charges are subject to increase by 0.5% in case the Card account is past due in the
previous statement. An account is considered past due if the minimum payment due is not received
before the payment due date. Subsequently, monthly finance charges will revert to the prevailing
product finance charges if the Card account is no longer past due for the previous and current statements.
•
No Finance Charges on retail transaction balances will be levied if 100% of the statement outstanding
balance is paid on or before the payment due date.
•
No late payment fee will be charged if Minimum Amount Due is paid on or before the payment due date.
•
These fees & charges are applicable from 27-02-2019 and are subject to change without notice.
•
Additional expenses, eg. postage, telex, courier, fax, legal fees, etc., will be charged where incurred
.
•
Charges for services not indicated in this guide are available on request.
•
For details on Credit Shield please refer to Credit Shield Terms and Conditions.
Service and Price Guide with effect from 27-02-2019
PPS-00599/V122018
In line with the UAE’s Value Added Tax (VAT) implementation from 1
st
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.
RAKBANK RED, Standard, nmc, Géant La Carte
Mastercard®, Classic & Gold Visa (Contd.)
