Rakbank / The National Bank Of Ras Al Khaimah Reviews & Complaints

Reported By: Ioana al bada

Contact information:
Rakbank / The National Bank Of Ras Al Khaimah

Dear Ms. /Mr General Manager

My name is Ioana El Bada co-founder at Hit High Events and Advertising Agency, In March 2017 we came to the Rak Bank at Ibn Batutta Mall Dubai to open a business account, Mr. Sameer Kumar Verma was the officer in charge and showed us all the options that the bank could offer at that time.

Business account

We decided to choose the packages that includes, business account, personal account and investment.

We are a free zone company, when we opened the account your employees told us that being a free zone company we need to have each and every month in the account the amount of 25.000 AED, amount that can be deposit on the date of 25th of each month so we don’t get fined for not having the minimum amount in the account by the end of each month.

They didn’t tell us that the minimum amount of 25K shall be during the whole month in the account.

Mr. Chandra Sekhar Naidu is in charge with our business account, and Mr. Sameer with the personal account.

Mr. Chandra was very clear when he inform us that it is not a mandatory to have the amount of 25.000 AED during the whole month, only at the end of the month!!!
What is important is that by the 25th of each month the count should have a minimum amount of 25K to avoid getting penalties.

We have deposited money on a regular basis, with few exception, however for the months when we have exceeded the minimum of 25K AED we were still charged and penalized without any reason. Please see the attached overview from our account with the penalties applied and our concerns raised!!!

I want to understand why the bank is charging us money when we have the minimum requirement of 25K AED in the account and why there are also other small charges which it shouldn’t be there!!!???

We have informed Mr Sameer and Mr Chandra about the problem and it’s been a few months with no resolution to our complaint. This is why I see myself in the position of taking action as a written complaint to the bank directly!

We have trusted Rak Bank to be the best best for us, but with the difficulties we are facing it looks that the bank doesn’t respect his customers and its promises to them!!!

Resolution

If no resolution can be found in our case and fast, we are really thinking to close the account and to move to another bank where the staff are well prepared and the bank respects its promises to his clients!!!
This bank troubles kept me and my partner busy in the past months more than our own agency activities and still we couldn’t find a resolution to close the issues once and for all!!!

I will arrive with this complain till the court because what was told when we open the account and what we were advise to do, is not what we see now happening with our business account and with the personal account as well.

We are not doing any Forex transactions or international ones, as you can check the account easily, so all these penalties of 50AED every month doesn’t make any sense!!!
Please kindly see the below bank account details and waiting for a fast resolution!!!

Business Account
Hit High Events And Advertising Agency
Account Number : 0292554052001

We are waiting for your advise and we hope this issue to be fixed as soonest.

Awaiting for your answer,

Best Regards,
Ioana El Bada
0562882924