{"id":1543,"date":"2017-09-09T07:02:18","date_gmt":"2017-09-09T07:02:18","guid":{"rendered":"http:\/\/139.59.38.172:8081\/?p=1543"},"modified":"2018-09-07T10:48:41","modified_gmt":"2018-09-07T10:48:41","slug":"smart-phone-revolutions-uae-banking-sector","status":"publish","type":"post","link":"https:\/\/www.mymoneysouq.com\/financial-blog\/smart-phone-revolutions-uae-banking-sector\/","title":{"rendered":"Smart phone revolutions in UAE Banking sector"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">One could get money from an ATM using only their debit\/<a href=\"https:\/\/www.mymoneysouq.com\/financial-blog\/smart-phone-revolutions-uae-banking-sector\/\" target=\"_blank\" rel=\"noopener noreferrer\">credit cards in UAE<\/a> until RAKBank introduced the Mobile Cash service. As of today, people in the Emirates are well aware of this service by RAKBank UAE. While availing this service, <a href=\"https:\/\/www.mymoneysouq.com\/cards\/rakbank-credit-card-in-uae\" target=\"_blank\" rel=\"noopener noreferrer\">RAKBank card<\/a> holders need not carry their cards with them every time to withdraw cash from an ATM. They can simply use their smartphones to withdraw cash from any RAKBank ATM all across UAE.<\/span><\/p>\n<p>RAK bank is the first bank in the Middle East to introduce Mobile Cash with Samsung Pay Solutions. They have partnered with Samsung Gulf Electronics. Earlier, this was limited to only Samsung smartphones. Over the time It has been made available in Apple App Store, Blackberry App World, and Google Play Store.<\/p>\n<h3>How does this work?<\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Get RakBank Mobile banking App in your smartphones.<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">RAKBank provides mobile banking services to the smartphones users. They can install this app from Playstore\/App store\/App world.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Log into the app using your credentials and select \u201cMobileCash\u201d <\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">One may Log in using the credentials which would be the username and password provided by the bank which can be changed as it suits you. <\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Select \u201cCash withdrawal\u201d to withdraw cash<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There are many services in the RAKBank Mobile Banking app like balance check, <a href=\"https:\/\/www.mymoneysouq.com\/cards\/balance-transfer-in-uae\" target=\"_blank\" rel=\"noopener noreferrer\">Balance transfer<\/a>, cash withdrawal, transfer to a beneficiary etc. <\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Select the debit account and give the amount you want to withdraw<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">One can have one or more <a href=\"https:\/\/www.mymoneysouq.com\/accounts\/compare-savings-accounts-uae\" target=\"_blank\" rel=\"noopener noreferrer\">account<\/a> details in his RAKBank Mobile Banking App. So select one among those in which to want to take the cash from.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You would get an OTP to the registered mobile number through SMS<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You would get an SMS to the phone number you have provided to the bank. Enter the OTP on the ATM screen. The OTP will remain valid for 24hrs since the initiation. In case you don\u2019t withdraw within 24 hours, you\u2019ll have to generate a new OTP.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You can withdraw the cash <\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You would get an acknowledgment to your registered mobile number and printed receipt from the ATM(if needed)<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>What are the benefits?<\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Can withdraw cash easily from any RAKBank ATM without debit\/credit cards<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">One need not worry about forgetting Debit\/Credit cards at home.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">No worries if the debit\/<a href=\"https:\/\/www.mymoneysouq.com\/cards\/compare-credit-cards-uae\" target=\"_blank\" rel=\"noopener noreferrer\">credit card<\/a> is lost or stolen<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If the debit\/credit card is stolen or lost the card will be blocked but the cardholder can make transactions using Mobile Banking app <\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Can withdraw up to AED 9000 from any RAKBank ATM<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The maximum amount of withdrawal is AED 9000 per day.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Can transfer money to the third party easily<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Can transfer money easily to someone else who is a RAKbank account holder <\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Can save time by not visiting bank branch <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Before withdrawing the cash from ATM, one can cancel the request.<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If you didn\u2019t withdraw the cash yet, you can cancel the request <\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h5><span style=\"font-weight: 400;\">Only RAKBank Mobile Banking customers can avail this. There won\u2019t be any extra charges for the usage of Mobile Cash. As an added advantage, the best part of this service is one can withdraw money even if their card gets blocked or stolen\/lost.<\/span><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>One could get money from an ATM using only their debit\/credit cards in UAE until RAKBank introduced the Mobile Cash service. As of today, people in the Emirates are well aware of this service by RAKBank UAE. While availing this service, RAKBank card holders need not carry their cards with them every time to withdraw [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":3772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-1543","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-general"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Smart phone revolutions in UAE Banking sector - MyMoneySouq Financial Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mymoneysouq.com\/financial-blog\/smart-phone-revolutions-uae-banking-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Smart phone revolutions in UAE Banking sector - MyMoneySouq Financial Blog\" \/>\n<meta property=\"og:description\" content=\"One could get money from an ATM using only their debit\/credit cards in UAE until RAKBank introduced the Mobile Cash service. 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