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 encashment of cash ore 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 AC payee cheque, Transfer funds & payment through digital banking and mobile cash facility to pay third party.