RAKBANK has initiated in delivering its customers with a convenient and efficient digital banking solution, through the launch of MobileCash. This brings to customers, the service of allowing them to withdraw cash and transfer it to their family or friends in UAE, via the use of a mobile phone.

This ensures a convenient customer experience, allowing customers to quickly transfer money. The RAKBANK, Mobile App, sends an SMS and a one-time password, to the person the money is being transferred to. Receivers of the payment, need to know the correct code, which is generated by the app as well as the exact amount of money being sent.

The code derived by the app can be used to withdraw money from over 200 RAKBANK ATMs in UAE, within the time frame of 24 hours. Customers receiving the cash do not require a debit card even, and can have transactions for up to AED 5,000.

This service from RAKBANK, will help reduce the customer effort and increase speed of service. MobileCash can be used as a backup option for customers who are travelling or might have misplaced their cards etc., and need money urgently.

“RAKBANK has always been at the forefront of empowering customers with technology-based solutions aimed at saving them valuable time,” said Peter England, CEO at RAKBANK. “Be it our Click and Collect service, our RAKBANK deals promotions and now the MobileCash service, we constantly innovate and think ahead, all with the ultimate aim of enhanced customer convenience.”