Eligible firms in the Ras Al Khaimah Economic Zone (RAKEZ) can now open a Rakbank Business Current Account within 60 minutes.
The offer is open to new and existing firms with a RAKEZ trade licence. These firms can either start banking with Rakbank or move their accounts to the bank.
For the first 12 months, they do not need to keep a minimum balance. They will also pay a lower monthly account fee of AED 49 during this time.
Firms can earn AED 1,000 in cashback as well. To qualify, they must keep an average monthly balance of AED 25,000 in each of their first three months.
Local and overseas transfers are free too under Rakbank’s current offer for new clients. This offer runs until 31 October 2026.
“Our strengthened partnership with Rakbank brings a significant new advantage to RAKEZ businesses.
Enabling eligible clients to open a business account within an hour represents an important step forward in simplifying access to banking,”
said Ramy Jallad, Group CEO of RAKEZ.
“As these businesses grow, Rakbank can support them with financing, transaction banking, payments and trade solutions, combining digital convenience with the human expertise they need at every stage,”
said Vishal Shah, Managing Director of the Business Banking Group at Rakbank.
Featured image: Edited by Fintech News UAE, based on image by Rakbank via its Press Release.
