What Is Rapid Account Bank Alfalah?


"Rapid Account" isn't actually a specific account type offered by Bank Alfalah. Instead, Rapid is the name of their digital banking platform, where you can manage various banking needs online and through their mobile app. 


What is Rapid Account Bank Alfalah?
What is Rapid Account Bank Alfalah?


 

Through Rapid, you can:

Open accounts: You can digitally open both current and savings accounts through Rapid, choosing the one that best suits your needs.

 

 

Apply for cards: Apply for debit cards, credit cards, and prepaid cards directly through the platform.

 

Manage accounts: View your account balances, transaction history, and statements.

 

Make payments: Transfer funds between accounts, pay bills and recharge mobile phones.

 

Download e-statements: Access your statements electronically for easy record-keeping.

 

Subscribe for SMS alerts: Stay informed about account activity through SMS notifications.

 

 

What is The Limit of a Rapid Digital Account?

There isn't actually a specific "Rapid Digital Account" offered by Bank Alfalah. However, there are transaction limits associated with accounts opened through the Bank Alfalah Rapid platform, particularly during the initial period before full verification.

 

 

These limits apply to both incoming and outgoing transactions on both current and savings accounts. 

 

 

Breakdown of the limits:

PKR 200,000 per month: This is the cumulative limit for both debit and credit transactions for the first 60 days from account opening or until biometric verification is completed, whichever comes first. 

 

 

After biometric verification:

Once biometric verification is done, the PKR 200,000 monthly limit is removed, and you can enjoy regular transaction limits based on your KYC profile and the specific account type you've chosen (current or savings).

 

 

What is Rapid Account Bank Alfalah's Number?

As I mentioned before, there isn't a specific "Rapid Account" offered by Bank Alfalah. Rather, Rapid is the digital banking platform through which you can open various Bank Alfalah accounts, including current and savings accounts. 



So, the account number itself will depend on the specific account type you choose to open through Rapid (current or savings) and not on the platform itself.

 

 

Once you open an account through Rapid, you'll receive an account number specific to that account type. 



This number will be displayed in the Rapid app and online banking portal, and it will also be available on your physical debit card (if you choose to get one).

 

 

Identify the account type you opened through Rapid: Was it a current or savings account?

Access your Rapid app or online banking portal: Log in and navigate to your account details. You should see your account number prominently displayed.

 

 

Check your physical debit card (if you have one): Your account number will also be printed on the back of your debit card.

 

 

What is Rapid Account Bank Alfalah Charge?

There are no specific charges directly associated with opening or maintaining a Bank Alfalah account through the Rapid platform. Opening an account through Rapid is actually free of charge, which is one of its advantages. 

 

 

However, charges may apply depending on the type of account you choose and the additional services you opt for:

 

 

Account type: Different account types, like current or savings, may have different monthly maintenance charges. You can find details of these charges on the Bank Alfalah website or by contacting their customer service.

 

 

Debit card: If you choose to get a debit card with your Rapid account, an annual fee may apply. Again, check the website or contact customer service for specific charges.

 

 

Cheques: Ordering checkbooks will attract a charge per cheque leaf.

 

 

SMS alerts: While some basic alerts might be free, opting for additional SMS notifications can incur charges.

 

 

Other services: Any additional services like standing orders or online bill payments may also have associated fees.

 

 

Bank Alfalah Rapid Account Opening Online:

Bank Alfalah doesn't actually offer a specific "Rapid Account." Instead, Rapid is their digital banking platform that allows you to conveniently open and manage various Bank Alfalah accounts online and through their mobile app. 



So, when you open an account through Rapid, you'll choose either a current or savings account type.

 

 

How to Open a Bank Alfalah Account Online Through the Rapid Platform: 

1. Visit the Bank Alfalah Rapid website: https://www.bankalfalah.com/personal-banking/bank-alfalah-rapid/

 

2. Click on "Open Account": You'll see this option prominently displayed on the homepage.

 

3. Choose your account type: Select either "Current Account" or "Savings Account" based on your needs.

 

4. Enter your basic information: This includes your CNIC number, mobile number, email address, and date of birth.

 

5. Complete the KYC process: You'll need to upload scanned copies of your CNIC and other required documents, such as proof of income or address.

 

6. Video call verification: Once your documents are uploaded, you'll need to complete a video call for identity verification.

 

7. Set your account credentials: Choose a username and password for your online banking access.

 

8. Fund your account: You can deposit funds into your new account through various methods, such as online bank transfer or cash deposit at a Bank Alfalah branch.

 

9. Start enjoying your new account: Once your account is funded, you can access all the features and benefits of your chosen account type through the Rapid app or online banking portal.

 

 

Frequently Asked Questions:

Do I need a specific CNIC number or income level to open an account through Bank Alfalah Rapid?

You need to be at least 18 years old and a Pakistani citizen to open an account through Rapid. There are no specific CNIC number or income level requirements, but depending on the account type you choose (current or savings), further documentation (like proof of income) might be requested during the KYC process.

  

 

What happens after I open my account through Rapid? Is there a minimum deposit amount?

Once your account is opened and funded (no minimum deposit amount required), you can access all the features and benefits of your chosen account type through the Rapid app or online banking portal. This includes managing your balance, making transactions, paying bills, and more.

  

 

What are the transaction limits for accounts opened through Rapid?

PKR 200,000 cumulative limit for both debit and credit transactions per month for the first 60 days or until biometric verification is completed.

 

 

After verification, regular transaction limits based on your KYC profile and the specific account type apply. You can find details of these limits on the Bank Alfalah website.

  

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