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Yap is now open to business. Did anyone try it yet?

Yap is now open to business. Did anyone try it yet?

zivi0

Powered by RAK bank, do not approach, their documents mention that they are not responsible for any "mistakes".


eorlx

They didn't let me sign up because of my nationality


SugarForBreakfast

This post is written on mobile so bear with me if the formatting is a little messy. I started using it a few days ago. I've been using Liv for the past 2 years as well so I can compare both. This is all just a random write-up for anyone who might be interested. If you guys have any specific questions about either YAP or Liv, feel free to ask. Account Sign-up: Very similar questions for both. EID and passport scan were much easier on the Liv app. I had to scan the back of my EID 20 times on the YAP app until it finally got accepted. Winner: Liv. Card delivery: When I signed up for Liv in 2019 they were using Fetchr which had terrible reviews. Card was delivered at the promised time and I had no trouble. Needed a replacement Liv card last month and they sent it using Shipa this time. That also has terrible reviews but card was still printed and delivered in only 1 day, very happy with how they handled that. YAP card was sent through Tawzea. Took around 2 days after account opening to get delivered. Tawzea sent me a link to confirm my location and preferred time and I did get it within the promised time slot. So no complaints here either despite Tawzea also having terrible reviews online. Maybe I'm just lucky? Winner: Tie between both but with stuff like this YMMV. App performance / UI: It looks nice, way less janky and bloated compared to the Liv app and I like the way information is displayed. A dark mode option would definitely be appreciated considering the app is basically all white with purple accents here and there. Winner: YAP. App functionality: You can't pay bills or top up Etisalat/Du/Salik/Nol through the app. You can do that with Liv on the other hand. Quite disappointing that YAP doesn't have this yet. Winner: Liv. Transaction Alerts: When you complete a transaction, the SMS alert doesn't show you your remaining balance. It's a small thing to be annoyed about, but also literally every other bank shows remaining balance so why isn't it there? Winner: Liv. Debit card (the actual physical card): Honestly, I hate how the Liv one looks. It's hideous. Makes me feel like a little kid every time I use it. Why does it look like the type of card you'd get with an under-18 'my first bank account' type thing. The fact that they don't offer any alternative styles is kinda disappointing. I definitely prefer the minimal all white look of the YAP card but sometimes I confuse it for my building access card in my wallet. Both are contactless and have worked just fine everywhere I've used them. Winner: YAP. Debit card functionality: Both work with Samsung Pay and YAP even lets you import the card directly into Samsung Pay through their app, with Liv you have to add it manually. I can't say much about the YAP card about working with PayPal or random lesser known online shopping sites since I've only had it for a few days, but it works on all your regular stuff (Uber, Careem, Deliveroo) and Amazon as well. The virtual card feature is what really interests me. I've yet to try it out but it seems really useful and I wish Liv had something similar. Winner: YAP.


Java_Beans

Amazing review thank you. As someone who uses both, this is a very nice write up. I’m not sure what you mean by virtual cards, I use Liv with Apple Pay, in stores, I use the iPhone to pay. Online, I use Apple Pay on many websites. I rarely carry the Liv card with me.


SugarForBreakfast

Sorry for not clarifying. YAP allows you to create a virtual debit card which is completely separate from your main physical card. It has its own card number and CVV and they allow you to set transaction limits and freeze it on demand. Basically an alternative card for you to use online so that in case the card details get compromised, the person who has your details won't be able to charge a large amount and you won't have to go through the hassle of getting your physical card replaced since you can just 'delete' the virtual card and get a new one issued through the app.


Java_Beans

Oh interesting. Thank you.


TheYungSheikh

I’ve found this is also really useful for subscribing to free trials which require a card. Just make a virtual card and put no money in it and you’re safe.


UnknownTechGuy

What is YAP


Java_Beans

It's a new digital bank experience backed by RakBank. It was discussed here a few times as an alternative to Liv (Emirates NBD) but I don't know if it's any good. As others mentioned just being Rak is already a red flag


mightybob4611

Why is Rak a red flag?


Java_Beans

For me personally, I thought Yap would be a full digital experience like Revolut in Europe. I didn’t know it will be just a facade layer on top if an existing bank, plus RAK already has many complaints from many people.


mightybob4611

Good to know.


TheYungSheikh

At least they’re not owned by RAKBANK though. I have YAP and their support is pretty good. You don’t have to deal with RAKBANK in anyway which I’m happy about.


mightybob4611

I signed up, but having the new EID, the card was not released to me because Tawzea sucks balls.


Java_Beans

> Tawzea sucks balls. Lol. This should be their slogan. I have been here for 10 years, I have yet to see ONE person who says Tawzea delivered correctly and on time.


mightybob4611

Been here 6 weeks, already had it with them.


nomads_lore

They are basically a RAKBank powered app, they say a lot about being a Fintech and have some nice offices but they are basically just a poorly designed app interface for a limited/restricted RAK bank account. They sent me a card then later decided that they were going to ask for 10 years of my banking history to activate the bank account 2 to 3 weeks after sending out the card. I'd recommend a regular bank account instead, at least you have a regular person at the bank to complain to. YAP sends out-of-band messages and notifications, a strong indicator of what their customer service is going to look like seeing as they don't have direct control over anything in the first place.


Java_Beans

Thanks for the feedback. Liv started kind of similar “digital experience” bank but they quickly started asking for the customer to transfer their salary to Liv to continue using the digital features! I won’t be surprised Yap goes the same route.


nomads_lore

The announcements and hype surrounding some things these days usually never matches up to the delivered/final product. Instant bank accounts that take 3 months of back and forth and never get opened or get opened with restrictions. Blockchains for KYC that end up asking you for a ton of documents the blockchain is supposed to eliminate in the first place. The whole point of these digital banks was to reduce in-person contact, calls and branch visits from customers not really to do anything spectacularly innovative but the way its announced, you'd think fire had just been discovered.


Alternative_Actuary6

Now that i know it's from the "RAK" i will safely disregard this so called digital bank. I'm personally looking forward to Zand (Emaar's digital bank)


TheYungSheikh

I signed up ages ago to the waiting list, think I was one of the first people to onboard and I’m pretty happy with it. Liv support frustrated me so much, I couldn’t even call them in an emergency. I had to demand to speak to a manager who would call me a few days later. Without getting into it too much, they really fucked up on their end bc their app is poorly made and it ended up screwing my budgeting massively. After using yap for a while I’m gonna close my Liv and transfer my salary to yap I think. At least I can call their support when I need which is really important to me. Plus this virtual cards are good, nice to see a company here actually doing new things like Monzo and Revolut.


Jokerjin39

What do you think which one is Good