RAKBANK partners with INPAY – a European Fintech remittance service provider – to offer customers the lowest remittance fees in the market when transferring Euros to 25 European nations a charge of 25 UAE dirhams per transfer through RAKMoneyTransfer.
Likewise, it allows customers to send money via the digital banking platform and from any one of the Bank’s 38 branches, where the Euro is credited directly to the beneficiary’s bank account on the same day with no hidden corresponding fees or backend charges.
“RAKBANK is expanding its global presence and the Bank’s remittance footprint into the European corridor through this strategic partnership with INPAY in order to offer customers a seamless banking experience with the new and enhanced remittance services. This will enable our customers to make secure, faster and convenient Euro transfers to 25 European nations.” Said Geoff Stecyk, RAKBANK’s COO.
“Currently we are witnessing a shift in the way people are remitting money abroad and for that reason; we enhanced the customer’s money transfer journey with RAKBANK. Customers can now remit money using their RAKBANK account or credit card. At RAKBANK, we believe that we can achieve great value proposition for our customers through strategic collaborations with FinTech’s rather than competing with them,” he added.
INPAY’s Founder & CEO, Jacob Tackmann Thomsen, said: “This partnership with RAKBANK, one of the most digitally advanced banks in the UAE, demonstrates INPAY’s relevant crossborder payments offering to financial institutions globally. We see this as an excellent example of how INPAY as a FinTech company enables its bank clients such as RAKBANK to provide their customers with even better services and do it at a go-to-market speed that was previously impossible.”