Pay abroad, rack up rewards
Using your RAKislamic Card overseas offers you plenty of benefits.
From low currency conversion rates to international cashback, there’s something every traveller can expect.
Exchange Rate Conversion
Dynamic Currency Conversion (DCC) is when you buy something abroad using your card, and the seller offers to charge you in your home currency instead of the local currency. It sounds convenient, but it often comes with higher fees and a less favourable exchange rate. When you opt for DCC on your overseas transactions, you will realise that you are spending more than you should. After all, every penny saved is a penny earned.
When you use your RAKislamic Credit Card abroad, you can rest assured that we will convert your card charges at favourable conversion rates.
5% Cashback
With your RAKislamic Card, you can earn up to 5% cashback on all international retail spends and international cash advances.
Please note that the 5% cashback doesn’t apply to transactions billed in AED but spent outside the UAE.
Low Currency Conversion Rates
Use your RAKislamic Card for your spends abroad and enjoy low currency conversion rates. Your RAKislamic Card will be accepted on all Chip and non-Chip-enabled terminals.
Please refer to the table below suggesting the extra earnings on your RAKislamic Card by not choosing to make payments in the national currency (AED).
| With DCC | Without DCC | |
|---|---|---|
| Transaction amount (INR) | 10000 | 10000 |
| Exchange rate (AED - INR)* | 0.072 | 0.0684 |
| DCC billing amount as per the POS slip (value in AED) | 720 | 702.81 |
| Maximum cashback earned** | 3% | 5% |
| Cashback amount (value in AED)** | 21.6 | 34.2 |
*Exchange rate computed by the Merchant
**These percentages are applicable only for the RAKislamic World Credit Card
The above example clearly shows that a customer performing a transaction without opting for DCC will be charged AED 17.2 less and also earns higher cashback for that transaction.
Paying in AED while outside of the UAE leads to application of due diligence, documentation and processing fees of 2.5% for international transactions as per our Schedule of Fees and Charges.
Please note that some merchants (e.g. iTunes, Uber, Facebook, Jet Airways, SpiceJet, Indigo Airlines, Deliveroo), although offering services in the UAE and charging in AED, process their card payments outside of the UAE. Such transactions are considered as international transactions and thus are subject to the international transaction fee as mentioned above.
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