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What is YAP?
RAKBANK provides this digital banking application YAP for the users to make the digital and in-store spending easier.
YAP is a digital banking application with banking services provided by RAKBANK. YAP brings innovative finance solutions to users, making it easier to send, spend and manage your money. You can easily open an account in seconds from your mobile for free, with no minimum balance or salary requirements necessary. Once you create your account with YAP and complete a successful identity verification, RAKBANK will generate an IBAN for you, and YAP will deliver a debit card to your doorstep, free of cost.
Founder of the YAP: Marwan Hachem
Co-Founder of the YAP: Anas Zaidan
How to create YAP account?
Download YAP mobile app on your device
- Create / Register a user and password
- Once you have created / registered an account with YAP, verification will be asked by proving the ID proof
- After that RAKBANK will generate an IBAN for you
- You will get a debit card delivered at your doorstep.
Cost: Free
YAP official Website: https://www.yap.com
YAP Young for kids account and YAP Household to manage household salaries will be coming soon
YAP Samsung Pay
How to use Yap card in Samsung Pay?
- You need to add your YAP card to the Samsung Pay wallet app
- Open the wallet app and press the plus (+) symbol
- Select your YAP Card and confirm the selection to use the card
- You can use Samsung Pay at in-store shopping / online and select the YAP card at checkout.
For more details, visit here
YAP Apple Pay
How to use Yap card in Apple Pay?
- You need to add your YAP card to the Apple Pay wallet app
- Open the wallet app and press the plus (+) symbol
- Select “Add a different card”
- Now turn on the camera to scan your YAP Card
- Confirm the selection to use the card
- You can use the Apple Pay at in-store shopping / online and select the YAP card at checkout.
For more details, visit here
How to pay bills with YAP?
YAP Customers can use the bill pay feature to pay the bill.
- Press “YAP it” on the dashboard
- Select “Pay bills”
- You can also set up for the auto payment
YAP Customer Care Phone Number
Phone: +971 600 55 1214
YAP Account Charge / Fee
| YAP IBAN ACCOUNT & DEBIT CARD | |
|---|---|
| YAP IBAN Account & Debit Card | Free |
| Minimum Balance Requirement | No Minimum Balance |
| Account Closure Fee (applicable if account is closed within 12 months) | AED 100.00 |
| Card Re-Issuance Fee | AED 50.00 |
| Manager’s cheque | AED 50.00 |
| FUND DEPOSIT INTO YAP IBAN ACCOUNT | |
|---|---|
| Cash Deposit at RAKBANK ATM | Free |
| Local Inward Transfer to YAP IBAN Account | AED 1.00 |
| Local Inward Transfer to YAP IBAN Account – From Non-AED Currency | AED 20.00 |
| YAP to YAP Transfer | Free |
| Top up via Credit Card / Payment Gateway | 2.55% |
| CARDS TRANSACTIONS | |
|---|---|
| ATM Withdrawal at RAKBANK ATM | Free |
| ATM Withdrawal at any UAE ATM (Other than RAK Bank ATM) | AED 2.00 |
| ATM Withdrawal within GCC | AED 6.00 |
| ATM Withdrawal at International ATM | AED 20.00 + 2% Transaction Fee |
| Balance Inquiry at RAKBANK ATM | Free |
| Balance Inquiry at any UAE ATM | AED 1.00 |
| Balance Inquiry at any GCC ATM | AED 3.00 |
| Declined ATM Transactions | AED 1.00 |
| E-Commerce Transactions within UAE | Free |
| POS Transactions within UAE | Free |
| POS Transactions Outside UAE*** | 1.99% Transaction Fee |
| E-Commerce Transactions Outside UAE*** | 1.99% Transaction Fee |
| FUND TRANSFER & REMITTANCE | |
|---|---|
| Local Outward Transfer from YAP IBAN Account | AED 2.00 |
| EFT Investigation for TT amendment/cancellation request etc. | AED 50.00 |
| International Outward Transfer from YAP IBAN Account via Swift/RMT** | As applicable (refer to remittance & swift schedule) |
| YAP ACCOUNT STATEMENT CHARGES | |
|---|---|
| IBAN Account Statement on Mobile App | Free |
| IBAN Account Statement Hard Copy (with Stamp)* | AED 25.00 (Delivery Charges may apply) |
| YAP PACKAGES | |
|---|---|
| B2C Spare (Virtual) Prepaid Card | AED 6 Annual Fee |
