RAKBANK / The National Bank of Ras Al Khaimah Reviews & Complaints

Reported By: 01Ramona

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RAKBANK / The National Bank of Ras Al Khaimah

It maybe be different for others but my experince till now is terrible. Accepted a settlement plan thinking I was doing the right thing to pay it off and that I trust the bank because it’s offered by them. It’s been a nightmare. The month I took the settlement is the same month they listed me as a run away “Left the bank “. Eventually turned write off after a year yet I had been making monthly payments.
I breached the settlement and the bank would not be helpful to give me a minimum amount to pay monthly to keep my good EcB rating . Instead 2-3months no contact, so I call and they offer me a one of payment which is rediculously high. Like dude obviously I did the plan and breached it coz I couldn’t afford it and u want to throw a one of sum hmm. Like there’s no consideration for a realistic plan or help. I breached my contract 9months into it so not long only 3 months left.
The settlement amount to start with was unrealistic and too high. Basically I was set up to fail.
They don’t care and don’t check against your current financial availability of funds. Instead they draw a plan that suits them and the amount the want from you rather than make it realistic so people don’t breach because it’s unrealistically unaffordable.
It’s definitely a business to set you up to fail and when you do the slap on and add more interest so basically your back to square one.
What’s the point of the plan.
Banks back at home give u lee way and just want your payments done. Better sure of money coming in and people still have money than have none and struggle.