RAK Bank Advises Customers Not to Issue Cash or Bearer Cheques


The national bank of Ras Al Khaimah — RAKBANK — has informed its customers that the bank is discontinuing the encashment of cash or bearer cheques at the teller counters with effect from April 12 until further notice.
In a message sent to customers, the bank also advises account holders not to issue cash or bearer cheques to anyone to reduce visits to branches. The bank has advised its customer to issue an AC payee cheque, Transfer funds & payments through digital banking and mobile cash facility to pay the third parties.