Everyday Banking - RAKstarter Account | RAKBANK UAE

RAKstarter Account

Based on the Islamic Principle of Mudaraba

A zero-balance account that's perfect for startups

RAKStarter Account - Protect your business with comprehensive takaful coverage

Protect your business with comprehensive takaful coverage

RAKStarter Account - Terms and Conditions Notification

Terms and Conditions

<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms and conditions of the Account with 60 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the profit rates for the Account with 30 days&rsquo; notice to you in advance.</li>
<li style="font-weight: 400;" aria-level="1">If the Account is not used for a period of 1 year, it will be designated as inactive and you will not be able to transact unless activated again.</li>
<li style="font-weight: 400;" aria-level="1">If the Account balance is not sufficient to settle outstanding dues, these will be recovered as and when the Account is funded or alternatively from any other account held by the customer with the Bank.</li>
</ul>

RAKStarter Account - Key Terms and Conditions

Apply online

Product application has never been this simple

Apply Online

RAKStarter Account - With Salary Transfer

No minimum monthly balance required

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RAKStarter Account - Maintain a monthly

Use our branch and ATM machine locator to find the nearest RAKBANK facility to you within the Middle East, in just a few clicks. Timings are available too.


RAKBANK Branches And ATM Machines Near Me In UAE |RAKBANK UAE

Branches & ATMs

RAKStarter Account - Question 4

RAKStarter Account - Terms And Conditions

No minimum monthly balance required
For more details about RAKstarter Account fees and charges, please refer to our <a title="Service and Price guide." href="/globalassets/rakbank/all-pdfs/002---islamic---service-and-price-guides/bilingual/026-j00807-sp-vat-businessaccountservices-islamic.pdf" target="_blank" rel="noopener">Service and Price Guide</a>.

RAKStarter Account - Fees

Fees

Dedicated support & 24/7 Phone Banking service

RAKStarter Account - Personalised service and support

Experience exceptional banking convenience with a RAKstarter Account. 
Enjoy the expertise of a dedicated Relationship Manager, who will guide you through your financial journey, and take advantage of our 24/7 Phone Banking services for seamless support anytime, anywhere.


Personalised service and support

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You are required to:
<ul>
<li style="font-weight: 400;" aria-level="1">Review this document and all other terms and conditions set out in the application form in detail;</li>
<li>Regularly check our website (www.rakbank.ae) for updates;</li>
<li>Notify the Bank in writing if there is a change in your employment or income details, contact details, residential status, identification details, financial details or any other material information as declared in the application form; and</li>
<li>Always safeguard sensitive banking details such as Account number, chequebook, Debit Card, login ID, passwords, PIN, etc.</li>
</ul>

RAKStarter Account - Customer Obligations

Key Fact Statement

Service and Price Guide

RAKValue SME

Call Investment Deposit

Fawrun Term Deposit

Business Finance

RAKStarter Account - Relevant links

In Page Floating Menu

RAKStarter Account - Terms and Conditions

RAKStarter Account - Question 2

RAKStarter Account - Closure of Account within 6 months

Benefits

More convenience & excellent benefits

RAStarter Account- Feature Interaction

RAKStarter Account - Attractive FX & trade finance rates

Experience seamless and cost-effective transactions with the RAKstarter Account. 
Benefit from our attractive foreign exchange and trade finance rates, designed to support your cross-border business endeavours and help you prosper in the global market. 
 
* Sharia-compliant

Attractive foreign exchange and trade finance rates*

Attractive FX & trade finance rates

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Islamic

RAKStarter Account - Various currencies available

Take control of your finances and overseas transactions with the option of various currencies.
 
RAKstarter Account is available in AED, USD, EUR, and GBP.

Various currencies available

Call Me Back Option - Business RAKStarter

Submit your details and we’ll be in touch soon

Let’s talk about RAKstarter Account

<ul>
<li style="font-weight: 400;" aria-level="1">Any company with a valid trade licence to operate within the UAE</li>
<li style="font-weight: 400;" aria-level="1">Length of business, less than 1 year</li>
</ul>

RAKStarter Account - Age

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RAKStarter Account - Streamline your accounting with cloud-based tools

Streamline your accounting with cloud-based tools

RAKStarter Account - Help Card

Monthly Statement/Frequency or as per customer request

RAKvalue & benefits applicable

RAKStarter Account - We’re here to help

RAKStarter Account - FAQ's

No minimum monthly balance

 Profit rate is applicable

 Profit rate applicable: YES

Make accounting hassle-free with your RAKstarter Account. This Account comes with a RAKvalue SME package that offers you cloud accounting services for more seamless banking experiences. Our powerful cloud-based tools make managing finances more efficient, saving you time and effort. Plus, with a low-cost Mobile POS machine at preferential pricing, you can streamline your sales process and boost your business. Get started now for as low as AED 49/month.

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Islamic RAKstarter Account

Monthly maintenance fee: AED 99 

<ul>
<li style="font-weight: 400;" aria-level="1">Foreign currency denominated accounts may incur foreign currency services. Applicable foreign currency services will be debited from the available balance for customers availing such foreign currency services. This may cause reducing balance even without customer induced withdrawals.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may close the Account if the customer KYC or identification documents are not updated regularly, or if required as internal policies, or upon request from regulatory / judiciary entities.</li>
</ul>
&nbsp;

RAKStarter Account - Warnings

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RAKStarter Account - Question 1

AED 5,000-19,999

AED 10,000-14,999

RAKStarter Account - Question 5

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Eligibility & Fees

Your account is just a few minutes away.

RAKStarter Account - Kick-start your savings journey

RAKStarter Account - Account Features

Account Features

Kickstarting a business? We know you've got a lot to organise. That&rsquo;s why the zero-balance RAKstarter Account is here to make your journey a whole lot easier. Enjoy a range of currency account options, attractive profit rates, exclusive business financing deals and more.

Starting up? This is the account for you

RAKStarter Account - Benefit Cards Container

Introducing our RAKislamic Business Debit Card

Explore the benefits of RAKBANK Islamic Banking's Business Debit Card. Sharia-compliant banking with business-friendly features. Discover more today from RAKislamic.


Easy Shop for Business Debit Card | RAKislamic

Business Debit Card

Discover a debit card that's built for business

RAKislamic Business Debit Card 

AED, USD, GBP, EUR

FAQ Accordion Items

RAKStarter Account - Eligibility

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RAKStarter Account - No ledger or fallback fees

We understand that some circumstances can get out of hand, that’s why we won’t be applying any extra fees in case of a fallback transaction. 

No ledger or fallback fees 

RAKStarter Account -  Islamic savings amplified

RAKstarter Account is based on the Islamic principle of ‘Mudaraba’, which means you can earn profit on your savings. The profit is declared and credited to your Account on a quarterly basis.

 Islamic savings amplified

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RAKStarter Account - Unlimited chequebook facility 

Your first chequebook is provided for free, once per year. Additional chequebooks can then be purchased through Digital Banking or a RAKBANK branch.

Unlimited chequebook facility 

RAKStarter Account - Accept payments anywhere with our mobile POS machine

Accept payments anywhere with our mobile POS machine

RAKStarter Account - Question 3

AED 30,000 & above

Not sure about something? Check our frequently asked questions to find what you’re looking for.

FAQ’s Help Card - Islamic

FAQs

RAKStarter Account - Question 6

No Ledger fees

Business - Apply through the RakMobile

Download the RAKBANK Business App and apply instantly

Apply via the RAKBANK Business app

RAKStarter Account - Global Tabbed Box

Take your business anywhere with the RAKvalue SME package that comes with your RAKstarter Account. Our first-ever full-feature low-cost mobile Point-of-Sale (POS) machine enables you to accept payments from customers anytime, anywhere, without the need for a traditional payment terminal.

Scan the QR code to download the RAKBANK Business app from the Apple App Store

Download the RAKBANK Business app!

A powerful yet simple platform that brings payments, payroll, and financial management together in one secure experience.

Scan the QR code to download the app from the Google Play Store

Global - Business - RAKBANK Business

Banking that works around your business

Savings Account 

<ol>
<li>Your Emirates ID</li>
<li>Your Passport with valid residency visa</li>
<li>Any of the following proof of income</li>
</ol>
<ul>
<li>Salary Certificate</li>
<li>Bank Statements</li>
<li>Payslips</li>
<li>Labour Contract</li>
</ul>

Visit A Branch

A specialist will be able to assist you with the process

Visit a branch

Safeguard your business against unexpected events with our RAKstarter Account. RAKstarter Account comes bundled with a RAKvalue SME package that lets you enjoy complete business takaful coverage. With this comprehensive takaful cover, you can rest assured that your company is protected, giving you peace of mind while running your business. Get all these with affordable monthly fees starting from just AED 49/month.

Cashback

Eligibility

<ul>
<li>Customers who want to open a RAKstarter Account must have a legitimate source of business income.</li>
<li>A chequebook is provided only to eligible customers based on AECB score / Bank&rsquo;s approval.</li>
</ul>

RAKStarter Account - Risks and Limitations