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RAKBank International Transfer & RAKMoneyTransfer Explained

By the GulfSend teamLast reviewed 14 July 2026

We're based in the UAE and build tools for people moving and sending money across the Gulf.

RAKBank stands out among UAE banks for RAKMoneyTransfer (RMT) — a dedicated remittance service inside its app that sends to a set of high-volume corridors, often faster and cheaper than an ordinary SWIFT wire. That makes RAKBank more competitive on remittances than most banks, but it still pays to compare. Here's how a RAKBank international transfer works and where it stands against exchange houses and apps.

RAKMoneyTransfer vs a standard SWIFT wire

RAKBank gives you two ways to send abroad, and the difference matters:

  • RAKMoneyTransfer (RMT) connects RAKBank to partner banks in specific corridors — India, Pakistan, the Philippines, Sri Lanka, Bangladesh, Egypt and others have featured — so money often lands fast and at a lower cost. Confirm the current corridor list and fee in the app.
  • A standard international (SWIFT) transfer goes anywhere RMT doesn't, at ordinary bank speed and cost.

How to send, fees, timing and the weekend

  1. In the RAKBank Digital app, open Transfers and choose RAKMoneyTransfer (for a supported corridor) or International transfer.
  2. Add the beneficiary: full name, account number or IBAN, and the receiving bank's local code or SWIFT/BIC (IFSC for India, and so on).
  3. Review the rate and fee, confirm, and keep the reference. RMT to a supported corridor is often same-day or faster; a standard SWIFT wire takes one to three working days.

Cut-offs and the UAE's Saturday–Sunday weekend apply to standard wires — send Friday afternoon and it may not move until Monday. Fees vary and change, so check the app; and remember the exchange-rate margin sits on top:

Where the real cost of a transfer hidesTotal cost of sending moneyUpfront feethe part you seeExchange-rate marginthe hidden part
Illustrative proportions. Two services can both advertise “no fees” — the one with the weaker exchange rate still costs you more. Always compare the amount that actually reaches the recipient.

Receiving into a RAKBank account from abroad? The sender needs RAKBank's SWIFT code, NRAKAEAK.

RAKBank vs an exchange house or app

RMT makes RAKBank genuinely competitive for supported corridors — but exchange houses like Al Ansari and LuLu, and apps like Wise, still sometimes deliver more, and they don't require a RAKBank account.

Settle it on the amount received in our live tool, or a route page like AED to INR. Moving money between UAE banks? See the bank-to-bank transfer guide. For the full picture, see the complete guide to international transfers from the UAE; moving a large amount? See transferring large sums from the UAE.

Frequently asked questions

What is RAKMoneyTransfer?

RAKMoneyTransfer (RMT) is RAKBank's own remittance service inside the RAKBank Digital app, connecting to partner banks in specific corridors so transfers often arrive faster and cheaper than a standard SWIFT wire. The supported countries and fees change, so confirm them in the app.

What is RAKBank's SWIFT code?

RAKBank's SWIFT/BIC code is NRAKAEAK. It's used when someone sends money into your RAKBank account from abroad. See our RAKBank SWIFT code page for details.

Is RAKMoneyTransfer cheaper than an exchange house?

Sometimes — RMT is competitive on its supported corridors, but exchange houses and apps can still give a stronger rate. Compare the amount that actually arrives before deciding, since a fee-free transfer at a weaker rate can deliver less.

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