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RAKBANK credit card empowers you to spend now and pay later. While RAKBANK provides you attractive offers on the use of credit cards, paying your credit card bill on time is important and beneficial.
UAEFTS is a fund transfer system that allows you to transfer funds from one bank account to the other. Since UAEFTS is owned and facilitated by the Central Bank of the UAE, it is one of the safest platforms for balance transfers and credit card payments. You can make RAKBANK credit card bill payments via UAEFTS through exchange houses. You can use the following exchange houses to make the credit card bill payment:
Please note that you will require paying AED 3 for each transaction made through the exchange house.
The flexible payment options provided by UAEFTS, from currency to banks, make it a preferred payment platform. However, there are some points you need to be wary of while choosing it:
To ensure smooth, easy, and quick transactions, RAKBANK allows you to use offline and online methods of making your RAKBANK credit card bill payments.
You can make a RAKBANK credit card bill payment offline by visiting the RAKBANK branch and depositing the payment via cheque or cash. For offline payments, you can locate RAKBANK nearest branch at https://rakbank.ae/wps/portal/header/atm-branches
RAKBANK Credit Card Payment via Cheque
Writing a cheque in the favour of a RAKBANK credit card is one of the ways you can make your RAKBANK credit card bill payment. To pay via cheque:
Please note that a RAKBANK account cheque will be cleared within 24 hours while another bank account cheque may take up to 3 working days for the payment to clear and reflect. You are advised to deposit the cheque at least 4 working days before the due date to ensure that you do not pay additional penalty charges.
You can make your RAKBANK Credit Card bill payment offline via cash by depositing it in a RAKBANK branch. Since the amount is paid using cash, it is reflected instantly and you will receive the confirmation from the bank right away. This method comes in handy if you are making last moment payment.
How can I make my RAKBANK credit card bill payment using the mobile app?
If you hold a bank account in RAKBANK, you can make RAKBANK credit card bill payment via RAKBANK mobile app in the following steps:
RAKBANK Credit Card Payment by Net Banking
In case you are making RAKBANK credit card payment using your desktop, you can log in to your RAKBANK ID and easily make payment:
To relieve you of the burden of remembering your due dates, RAKBANK provides you with an Auto-debit facility. When you choose an auto-debit option, the bank links your credit card payments to your bank account. For this, the bank will need your due date and the amount to be deducted every month. Selecting this facility authorizes your bank to deduct the monthly amount from your bank account without requiring any action from your side. While opting for this facility be wary of maintaining an adequate account balance monthly to allow the deduction. In case you do not have enough balance, the bank will not deduct any amount and you may end up missing your due date. Consequently, you will require paying a late payment fee.
Making payment from another bank
If you are not a RAKBANK account holder, you can also make credit card payments from another bank account. To make payment from another bank account:
Please note that since the payment is not being processed by the RAKBANK account, RAKBANK will not be liable for any late payments. In case the bank receives payment late due to some technical error, you will require paying late. Subsequently, to avoid the late fee you can withdraw cash from ATM or your bank account and deposit to Electronic Deposit Machine.
Alternatively, if you hold a bank account in RAKBANK you can:
The phone wallet is a smart payment platform that enables payments from one bank account to the other. You can use this platform to make your RAKBANK credit card bill payments within a few seconds. All you need is:
Some of the most popular platforms for making RAKBANK credit card payments are Apple Phone, EWallet, Emirates Digital Wallet LLC and Klip, Google Pay, PayBy, Samsung Pay, and PayPal.
Owing to the risks of fraud, RAKBANK does not accept credit card bill payments from other bank’s credit card payments directly. However, some indirect methods will allow you to avail of this facility:
Your credit card comes with a cash withdrawal facility that allows you to borrow cash on your credit card from an ATM. You can use this facility to withdraw cash and make RAKBANK credit card bill payments. Simply borrow the cash and deposit it to RAKBANK in the favour of your 16-digit credit card number.
Some credit card providers offer a balance transfer facility on your credit card. This lets you transfer the debt on your RAKBANK credit card to another bank’s credit card. Before using this facility ensures that the credit card you are using to transfer the debt has a lower interest rate. To transfer a balance:
While you have some options to make your RAKBANK credit card bill payment through another bank’s credit card, you are advised to not use this facility unless it is your last resort. When you use another credit card to pay a credit card bill, you are not getting rid of your debt. The debt merely shifts from one credit account to the other. Besides, since the debt remains on your card for a longer period, it reflects on your credit report and hampers your credit score if used often.
You don't need to make complete payment on your RAKBANK credit card bill. You can choose to make a partial payment on your outstanding amount. However, if you choose the latter option, you will be liable to pay additional interest on the pending principal amount. Besides, the compound interest on your credit card will also be levied. Therefore, to receive better benefits, you should try to pay the complete amount on the outstanding amount.
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