Cancelling auto debit payments on your RAKBANK credit card can be a crucial task when managing your finances. Whether you're switching to a different payment method, have cleared your outstanding balance, or simply want to exercise greater control over your credit card payments, understanding the process is vital.
Many individuals find themselves locked into automatic payment arrangements without knowing how to opt out. Navigating the financial bureaucracy can certainly be daunting. However, with the right knowledge and guidance, you can regain control over your credit card payments and make financial decisions that align with your needs and preferences.
In this comprehensive guide, we will walk you through the steps to seamlessly cancel auto debit RAKBANK credit card payments.
The auto debit feature on RAKBANK credit cards enables you to automate your credit card bill payments. When you opt for the auto debit feature on your RAKBANK credit card, you authorise the bank to automatically deduct the amount due from your chosen bank account on the credit card bill’s due date.
The feature improves the overall customer experience and simplifies the payment process. It ensures that the payments are made on time without any manual intervention.
Despite the convenience of the auto debit facility, there are times when, due to this facility, you might lose track of monthly bills. Furthermore, if your account balance is insufficient, you might be required to pay an overdraft fee.
Ultimately, while it is not recommended to stop auto debit, there are some situations that might require this intervention:
Customers who make cash payments can conveniently monitor their monthly instalments. Disabling automatic credit card deductions has proven to be a favourable choice for individuals facing irregular cash flow. This also applies to those people with multiple credit cards.
Discussed below are the ways to cancel auto debit RAKBANK credit card payments -
You can request to stop automatic debits from RAKBANK credit cards using the following steps -
Your automatic debit arrangement with the bank will continue until you submit a written request or inform RAKDirect otherwise. Any changes or cancellations to the direct debit must be conveyed in written form or through RAKDirect and must be received by the bank at least one week prior to the scheduled payment date.
While the facility of direct debit or auto debit is pretty straightforward, you can always use various other convenient methods to settle your credit card bills as a RAKBANK credit card user -
To utilise this option, you must visit one of the designated payment locations, such as UAE Exchange Outlets, Al Fardan Exchange Outlets, Al Ansari Exchange Outlets, Sharaf Exchange Outlets, Redha Al Ansari Exchange Outlets, or Lulu Exchange Outlets. Please be aware that only cash payments are accepted at these exchange houses.
Note: A transaction fee of AED 3 will apply for payments made through exchange houses.
Ans: Yes, you can halt automatic payments through your bank. For this, you can use online banking or personally visit your bank's nearest branch and submit a request to cease automatic payments through the institution.
Ans: The methods to pay your credit card bills include online and mobile banking, exchange houses, RAKBANK branches, electronic deposit machines, and more.
Ans: RAKBANK offers two ways to stop auto debit for credit cards — online banking and via RAKDirect.