How to Auto Debit RAKBANK Credit Card Payments?

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Best RAKBANK Credit Cards in UAE

RAKBANK, one of the oldest and most dynamic financial institutions in the UAE, has earned a reputation for offering a wide range of exceptional financial products, including credit cards. With a diverse selection of RAKBANK credit cards tailored to suit the needs of UAE residents, customers can enjoy a host of benefits and rewards.

However, to avoid penalties and fines, it is crucial to pay the associated bill of your credit card before the due date. Failing to do so not only risks incurring additional charges but also has a detrimental effect on your AECB score, potentially impacting your ability to secure future loans.

Fortunately, RAKBANK provides a solution to this dilemma through its convenient auto debit RAKBANK credit card payments feature. By registering for this service, you can streamline the bill payment process and ensure timely payments without any hassle.

To learn more about how to leverage the auto debit RAKBANK credit card payment feature, continue reading our comprehensive guide.

What is the Auto Debit RAKBANK Credit Card Payment Feature?

The auto debit credit card feature is a convenient service that allows customers to automate their credit card bill payments. This feature enhances customer experience and greatly simplifies the payment process.

By opting for auto debit RAKBANK credit card payment, RAKBANK credit card users can authorise the bank to automatically deduct the outstanding amount from their chosen bank account on the due date of their credit card bill. This ensures that payments are made on time without requiring manual intervention.

There are several advantages to using the auto debit RAKBANK credit card payment feature -

  • Timely Payments: With auto debit RAKBANK credit card payment, you can rest assured that your credit card bills will be paid on time, eliminating the risk of late payment penalties and fines.
  • Convenience: The auto debit feature saves you the effort of remembering payment due dates and manually initiating transactions. It streamlines the entire process by automatically deducting the bill amount from your chosen bank account.
  • Avoiding credit Score Impact: By ensuring timely payments through auto debit RAKBANK credit card payment, you can maintain a positive credit history and prevent any negative impact on your AECB score. This, in turn, increases your chances of obtaining favourable loan terms in the future.
  • Peace of Mind: With the auto debit feature, you can have peace of mind knowing that your credit card bills would be taken care of automatically. This allows you to focus on other important aspects of your finances without worrying about missed payments.
  • Efficient Budgeting: By automating your credit card bill payments, you can better manage your budget. You can plan your expenses accordingly, knowing that the bill amount will be deducted automatically, helping you avoid any cash flow issues.

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How to Auto Debit RAKBANK Credit Card Payment?

Setting up auto debit for RAKBANK credit card payments is a convenient way to ensure timely bill settlements without the need for manual intervention.

Here's how you can get started:

  • Requesting the Facility: You can opt for the auto debit credit card payment feature by indicating your preference in the application form or by completing a separate standing instruction form available at RAKBANK branches. Please note that the acceptance of the standing instruction facility is subject to the discretionary approval of RAKBANK.
  • Payment Authorisation: Upon the submission of the request, RAKBANK will verify the details and approve your request. The payment will be made on the respective due date or upon receipt of your salary, as specified in the standing instruction form. The authorised amount will be debited from either your RAKBANK account or another nominated account (based on the signed authorisation).
  • Payment Options: You have the flexibility to choose between making a full payment or a minimum payment. Alternatively, you can select a specific percentage from the minimum balance percentage defined by the bank at different times.
  • Account Debit Process: RAKBANK will automatically debit the nominated account on the specified payment date mentioned in the standing instruction form or upon receipt of your salary, whichever comes first.

Important Points to Consider While Opting for Auto Debit RAKBANK Credit Card Payment:

  • Sufficient Balances: Make sure that sufficient funds are available in the nominated account on the payment date specified in the form. In case of insufficient funds, the available balance in the account may be recovered towards the dues, and any subsequent funds received will be automatically transferred for the settlement of the dues.
  • Insufficient Funds and Cancellation: RAKBANK reserves the right to cancel the standing instruction without prior notice if the account does not have adequate funds to cover the dues. In such cases, the bank may levy a charge for each payment not processed due to insufficient funds, which will be reflected in your credit card account.
  • Amendments or Cancellations: Your standing instruction to the bank will remain active until you provide a written request or notify RAKDirect. Any amendments or cancellations of the standing instruction must be communicated in writing or through RAKDirect and must reach the bank at least one week before the payment is due.

By following these steps and keeping the important points in mind, you can conveniently set up auto debit for RAKBANK credit card payments and ensure timely and hassle-free settlements.

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Other Ways to Pay RAKBANK Credit Card Bills

In addition to the direct debit or auto debit feature, RAKBANK offers several convenient methods for customers to pay their credit card bills -

  • RAKBANK Branches: You can visit any RAKBANK branch near you to make your credit card payments. You can simply present a cheque for the payment and have a dedicated representative assist you with the process.
  • Online and Mobile Banking: RAKBANK provides digital platforms such as online banking and mobile banking which enable you to pay your credit card bills instantly. You can simply log into your account, navigate to the credit card payment section, and settle your dues conveniently through the online or mobile platform.
  • RAKDirect: By dialing 600 54 4049, you can use RAKDirect, an Interactive Voice Response (IVR) system, to make your credit card payment from anywhere and at any time. Follow the prompts provided by the system to complete the payment.
  • Electronic Deposit Machine (EDM): Utilise the Electronic Deposit Machine by visiting a designated location, where you can deposit a cheque for your credit card payment for a quick and convenient process.
  • Exchange Houses: RAKBANK also allows credit card bill payments through select exchange houses, which are financial institutions that deal with foreign currency exchange and money transfers. 

To make a payment via an exchange house, you need to visit one of the designated payment locations such as UAE Exchange Outlets, Al Ansari Exchange Outlets, Redha Al Ansari Exchange Outlets, Al Fardan Exchange Outlets, Sharaf Exchange Outlets, and Lulu Exchange Outlets. Please note that only cash payments are accepted at exchange houses. 

Note: The bank charges AED 3 per transaction for payments made through an exchange house.

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Wrapping up

Auto debit RAKBANK credit card payment feature is a valuable tool that provides convenience, efficiency, and peace of mind to customers. By setting up auto debit, you can ensure timely payments without the hassle of manual transactions or the risk of missing due dates. This feature not only helps you avoid penalties and fines but also safeguards your credit score, enabling you to maintain a positive financial reputation and enhance your future borrowing prospects.

With that said, if auto debit doesn't suit your preferences, RAKBANK offers a range of alternative payment methods such as branch visits, online and mobile banking, RAKDirect, electronic deposit machines, and payment through select exchange houses.

Each option mentioned above has its own advantages - you can choose the method that aligns best with your convenience and preferences. Whether you opt for auto debit or one of the alternative payment methods, RAKBANK ensures that managing your credit card payments becomes a seamless and stress-free experience!

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