Unaware of closed account

I have a salary Fast Saver account with RAKBANK, but this account does not have the provision of a cheque book. Therefore, I opened an E-vantage account with RAKBANK for my rental cheques. This account has been active for two years.

In August 2014, I was going on vacation and had transferred all my cash to the E-vantage account. Just on the day I was travelling, I went to the ATM counter to withdraw my money. I received a message that there was a failure in transaction. On seeing this, I called the bank and they informed me that the account did not exist! Please take note of my situation: I am proceeding on vacation, don’t have any cash at hand, with all my cash in a particular account, which turns out to be missing!

On returning from leave, I visited the branch, and met with the customer care executive and the manager. But, they did not have any specific reasons for account closure, which is not acceptable. They say that the bank has the right to do so without giving any reasons.

Meanwhile, they have sent a manager’s cheque with a closure fee by post, without mentioning any reasons.

Moreover, the bank has charged me closure fees; and I have to pay additional Dh100 to Better Homes for a cheque replacement.

My transactions in this E-vantage account have been very normal, such as the payment of utility bills and ATM withdrawals. Kindly probe into my case and help me get justice. Isn’t the bank responsible for informing me in advance on the account closure? Why should I bear all these charges because of a mistake by the bank? Isn’t the bank responsible for giving me a valid reason for closing my active account?

From Ms Betsy Kurian George


Mr Ian Hodges, Head of Retail Banking, RAKBANK responds:

Thank you for giving us an opportunity to justify our stance on the issues raised by Ms George.

The concerns raised by Ms George have been reviewed and we note that the bank had written to Ms George in June 2014 requesting her to provide copy of her valid UAE Residence visa to keep her account active.

Since the bank was not in receipt of the referred document within the stipulated time, the E-vantage account was closed on August 7 as per the requirement of UAE Central Bank. The available balance in her account was subsequently sent vide a Manager’s cheque to her registered PO Box.

We have contacted Ms George and clarified the matter.

Ms George responds:

It is a fact that RAKBANK executives have called me to make me believe that they have sent a letter to me. But, the fact remains that I have not received any such letter. Had I received a letter, I would have been aware of the reason of my account closure, and would not have approached the bank to clarify.

Mr Hodges, RAK Bank, responds:

Please note that the letter in question was forwarded to Ms George at her postal address as registered with the bank. We are however unable to confirm if the same was delivered to the PO Box by Emirates Post.

As mentioned in our previous letter, Ms George was assured of our assistance in case she decides to open a new account with us and we await her advice on the same.

(Process initiation: October 26. Response from organisation: October 27. Process completion: November 2.)

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