x Abu Dhabi, UAEWednesday 17 January 2018

Launches that are worth watching in August

Three banking product launches that are worth watching in August.

Tamara Abdul Hadi / Reuters
Tamara Abdul Hadi / Reuters

ADCB offshore banking

Benefits: Wholesale banking clients can open current accounts, Call Accounts & term deposits in multiple currencies including US dollars, euros and pound sterling via ADCB’s Jersey branch. Your relationship manager based in the UAE will look after both onshore and offshore bank accounts.

Watch out for: Only Privilege Club or Excellency customers may apply and a minimum amount equivalent to $25,000 is required.

RAKBank mobile banking

Benefits: Withdraw and send money to friends, family or anyone in the UAE instantly using your mobile phone, even if the recipient does not have a bank account as long as they have a valid UAE mobile number. Log on to mobile banking and select “MobileCash” to use the service.

Watch out for: You must be a mobile banking customer.

Investing in gold with Mashreq

Benefits: Customers can use the Gold Edge Invest account to buy and sell gold electronically 24 hours a day, 7 days a week. The gold ounce rate (XAU) applies where 1XAU equals 1 troy ounce of 9999 pure gold and units can be converted back to cash at any time. Gold market rates are updated twice a day.

Watch out for: Check for fees or charges on transactions.

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