I closed my RAKBANK credit card with their collections agency in 2015, with a promise that all legal action, including Central Bank blacklisting against the said card, would be withdrawn upon the payment of agreement amount in one slot. RAKBANK’s agency sent me an email explaining that the legal formalities would be withdrawn upon payment. I received a clearance letter from the bank two months after my payment.
Now, I have discovered that RAKBANK has caused me to become blacklisted by Central Bank. I requested them to change my status. I have been following up with them for the past three months. RAKBANK demands more money and says they waived some amount while I closed the card, but are not ready to release the blacklist. I explained to them during my closure period, the agreement was that I would not have any issue at the Central Bank from RAKBANK, which they explained as ‘legal action’ in the email (as per the agency, they have a normal template and this would be suffice). Now, the RAKBANK says Central Bank’s rating would not be included in the legal action. But they had explained during the time of closure that this was included. Now, they demand more money and I can’t get any credit facility due to this reason. The bank promised us something and is doing something else. It has been more than two years and RAKBANK is making my life difficult. How can they say now that the Central Bank rating is not part of their legal action, while it is, under UAE law? Why is the bank denying this? How can I get justice? Kindly request for urgent action from RAKBANK.
From Mr Naseer Kulangarakath
The management of RAKBANK responds:
Please note that as per bank’s standards and best practice in the UAE banking industry, the Bank is limited with respect to disclosing or providing details and/or specific information about their customers to any third party to maintain the confidentiality of their data and personal information.
Customer was provided a waiver on an exceptional basis in order to assist him with repayment during settlement of his liability in September 2015. We regret our inability to verify the claims regarding incorrect information being provided during settlement in the absence of any records at the Bank.
We have contacted Mr Kulangarakath and clarified the Bank’s stance regarding his request for upgrade of his credit rating.
Mr Kulangarakath responds:
Thanks for the intervention.
I received a telephone call from RAKBANK, which said the bank is not ready to do anything regarding my requests.
My question regarding the settlement terms has not been answered.
As per the settlement and the clearance letter, all the legal formalities would be withdrawn upon payment, which has not been honoured by RAKBANK, even after two years.
Frankly speaking, it seems like they don’t care, as they have received the money. When I asked them about my rating with Central Bank, they said I would have to check with them directly. So, I went to the Central Bank and checked, and they said I would need to ask RAKBANK, as banks were their customers, not individuals.
I requested RAKBANK for a solution in this matter. They said they had nothing. The clause of withdrawing legal formalities in the settlement email is a declaimer, according to them. They are not ready to do anything, nor are they ready to give a solution. Now, it seems I will be in the same blacklist until I die, even if I do not owe them money.
I am not asking for a favour from the bank, but what is due to me, as per the settlement letter. Thanks for the help and support.
The management of RAKBANK responds:
Please note that as per bank’s standards and best practices in the UAE banking industry, the Bank is limited with respect to disclosing or providing details and/or specific information about their customers to any third party to maintain the confidentiality of their data and personal information.
Kindly note that the matter has been reviewed once again and we confirm that the Bank’s stance on the matter remains the same.
(Process initiation: February 7. Response from organisation: February 11. Process completion: February 28.)