Faster and safer
The UAE Funds Transfer System (UAEFTS) makes local electronic payments faster and more reliable. Find the routing instructions for your currency below.
Routing instructions for remittance in USD
Beneficiary Bank: National Bank Of Ras Al Khaimah (P.J.S.C.)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (your 23-digit IBAN)
Cover to be effected through:
Standard Chartered Bank, New York, USA
Swift Code: SCBLUS33
Or
Citi Bank, New York, USA
Swift Code: CITIUS33
Or
JPMorgan Chase Bank, N.A.
Swift Code: CHASUS33
Or
Mashreq Bank, New York, USA
Swift Code: MSHQUS33
Routing instructions for remittance in GBP
Beneficiary Bank: National Bank Of Ras Al Khaimah (P.J.S.C.)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (your 23-digit IBAN)
Cover to be effected through:
Lloyds TSB Bank PLC, London, United Kingdom
Swift Code: LOYDGB2L
Or
Barclays Bank PLC, London. United Kingdom.
Swift Code: BARCGB22
Routing instructions for remittance in EUR
Beneficiary Bank: National Bank Of Ras Al Khaimah (P.J.S.C.)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (your 23-digit IBAN)
Cover to be effected through:
Deutsche Bank AG, Frankfurt
Swift Code: DEUTDEFF
Or
ING Belgium NV/SA, Brussels
Swift Code: BBRUBEBB010
Or
Barclays Bank Ireland PLC, Frankfurt, Germany
Swift Code: BARCDEFF
Routing instructions for remittance in CAD
Beneficiary Bank: National Bank Of Ras Al Khaimah (P.J.S.C.)
Swift Code: NRAKAEAK
Beneficiary Name: (name as per account)
Beneficiary Account: (your 23-digit IBAN)
Cover to be effected through:
Bank of Montreal, Canada
Swift Code: BOFMCAT2
What are the UAE’s latest payments and remittance policies?
In its efforts to further enhance the speed and security of transfers, the Central Bank issued a series of updated policies.
Here’s what you need to know:
- As of 30 September 2017, you'll need to provide a valid reason for all local and cross-border AED transfers. Without one, your payment may be rejected or delayed. Note that salaries processed via the Wages Protection System (WPS) don't require a Transaction Type Code.
- All domestic payment instructions must include an IBAN in the beneficiary account field. Payments submitted without one will be rejected, except for credit card payments.
- If you have standing orders for future payments, please update them to include a valid reason for the transfer through Rakbank Digital Banking.
- A valid reason for the transfer should be selected based on the type of customer relationship (individual or business customer) that you hold with Rakabnk and the type of the electronic payment to be made, namely local or cross-border.
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