Opening an account with your local bank branch can be time-consuming and hectic, especially if you have limited or less time and travel frequently.
Luckily, it’s now possible to open a bank account in Pakistan and use it online, so you can choose the most convenient bank and avoid paying high fees by traveling to the bank office in person.
This guide will walk you through the step-by-step process of how to open a bank account in Pakistan and use it online so you can enjoy more convenience and save money at the same time.
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How To Open A Bank Account In Pakistan | Bank Account Opening Requirements
Table of Contents
- How To Open A Bank Account In Pakistan | Bank Account Opening Requirements
- Visit Your Closest Branch
- Verify Your Identity
- Fill Out The Application Form
- Get Documents Verified (If Needed)
- Deposit The Required Amount Into Your New Account
- Go Home And Wait For An Email From Your Bank.
- Apply For Internet Banking Access
- Set Up Your Security Questions And Answers
- Customization Of Internet Banking
- How To Open A Bank Account In Pakistan FAQs
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Visit Your Closest Branch
How To Open A Bank Account In Pakistan Step 1: The first step is to visit your closest branch or call their hotline number if they have one.
Once you’ve established which branch you need to visit, head over there in person and talk with an account representative.
If your branch doesn’t handle accounts for foreigners or doesn’t have an online application form available, move on to Step 2; otherwise, read on.
You will need your passport and one other form of identification, like your voter ID card or driving license.
You’ll also need some proof of address, such as a recent utility bill or rental contract.
You may also be asked for additional information, depending on which bank you choose; while choosing a bank prefer that one, especially giving urgent loans via an app (Bank’s own app)
Here are some examples of questions that may come up during account application:
- What is your profession?
- Where do you work?
- How long have you lived in Pakistan?
- Do you have an occupation there?
- Have you ever been refused a bank account before?
- Are there any legal proceedings against you?
- Which bank accounts have you previously had, and why did you close them (if applicable)?
The representative can help answer all these questions, so don’t worry if it sounds overwhelming!
Verify Your Identity
How To Open A Bank Account In Pakistan Step 2: To open an account, you will need to fill out several forms. The first form is about identifying information, like your name and contact details.
This is followed by two more forms for KYC (know your customer) information—and one of these may ask you for documents.
If it does, make sure you keep all copies of any documents you submit as they’ll be required if you ever wish to withdraw money from your account or apply for a loan from that bank.
Another form asks about how much money you want to deposit at first—this one can be tricky because most banks don’t allow people who are not Pakistani citizens to open current accounts with large sums of money.
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Fill Out The Application Form
How To Open A Bank Account In Pakistan Step 3: After you’ve verified your identity, it’s time to fill out your application form. This is important—the bank won’t be able to open an account for you if there are any mistakes.
There are usually several sections of an application form, but some basic information might include:
Your full name and address, identification details (like a passport or driver’s license), your employment history, income level, and banking preferences.
If you have an existing bank account, make sure you bring up any personal details from that so they can be added to your new account.
When filling out everything on here, don’t lie—that could get you into trouble later on down the line with banks who are serious about keeping their customers’ financial information safe.
Get Documents Verified (If Needed)
How To Open A Bank Account In Pakistan Step 4: If you’re opening an account at an international bank with an office in your country, you may not need to provide any documents.
But if you’re opening an account abroad or with a local bank, you’ll probably have to get some of your documents verified.
When you open your new bank account, be sure that whoever is helping you understands how your documents should be authenticated.
It has all of their contact information on hand so they can call them if needed. Usually, banks are flexible about which documents they require from different customers.
Deposit The Required Amount Into Your New Account
How To Open A Bank Account In Pakistan Step 5: Depending on your bank, you may need to bring your original identification documents (such as your national ID card and/or passport) along with you.
At some banks, for example, you can simply make an appointment online or call them directly and schedule a time to visit their local branch office.
Once at that office, you’ll be asked for information such as your name, address, and phone number; other details such as bank account number and sort code will also be taken down.
You’ll likely be required to sign forms stating how much money is being deposited into your account so that it’s clear how much money has been transferred from one place.
For example, your foreign account into another your new Pakistani bank account. All of these things are standard practices of most banks in order to prevent fraud.
Go Home And Wait For An Email From Your Bank.
How To Open A Bank Account In Pakistan Step 6: Once you’ve applied online, it’s just a matter of time before your bank calls. If they like what they see, they’ll set up an appointment with you and give you all of your account information.
Then, it’s time to head over to your branch and officially sign on!
Depending on how often you’re going in for cash or trying to pay bills (and how close by you are), you might also want to invest in direct deposits.
A bank employee can help set that up for you too; it will reduce trips inside and save more trees from being cut down!
Once all of that is handled, and once any new bank cards arrive, it’s time for step 7: The big moment. Let’s get everything set up.
Apply For Internet Banking Access
How To Open A Bank Account In Pakistan Step 7: Once you’ve chosen your bank, go ahead and log on to their website. Sign up for Internet Banking if you don’t already have it.
Then apply for an account by selecting New Customer Application or something similar.
It usually takes 2-3 business days to process; once approved, you can take advantage of additional benefits that most banks offer, such as free checkbooks, paper statements, and more.
Once you’ve signed up for Internet Banking, go ahead and log on. You should be taken to a page that asks you whether you want a New/Existing Customer; pick New Customer here and follow through with your application.
You’ll need two forms of ID, and we suggest using one that includes your photo—such as your passport or driver’s license—and another without it, such as an employee identification card or credit card. Keep these handy!
Set Up Your Security Questions And Answers
How To Open A Bank Account In Pakistan Step 8: Your first step to opening an account online is logging into your bank’s Internet banking platform. You can usually find links for that on their homepage.
Once you’re logged in, you should see a screen with instructions and fields that need completing.
We’ll go through this one by one:
Enter Your Details:
Fill out all of your personal details, including name, address, date of birth, etc.
Next, you’ll likely need to create security questions. Your bank will likely ask you what your mother’s maiden name is and then request that you answer a question with that information.
They might also ask for your PIN code and whether you previously had an account at another bank (this may seem weird, but if you don’t provide it they won’t be able to confirm who you are).
Create Or Verify Your Account:
You should now see several different options for opening an account. If it doesn’t say Open an account, find Open an existing account.
Follow these instructions carefully as every bank uses different formats for names, dates of birth, etc.
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Customization Of Internet Banking
How To Open A Bank Account In Pakistan Step 9: Opening an account with your favorite bank in Pakistan is a relatively straightforward process that’s similar to opening an account with any other international bank.
The key difference, of course, is that if you open an account with a foreign bank, your primary point of contact will be in another country—and working with someone remotely can sometimes present challenges and delays.
If you plan on living or spending time abroad, it might be worth thinking about opening an account at one of these banks.
Banks like Barclays and Citibank have top-notch online banking systems, and solid customer service options (including 24/7 hotlines), and they accept wire transfers from around the world.
Congratulations! You Have Successfully Opened A Bank Account In Pakistan
How To Open A Bank Account In Pakistan Step 10: Finally, you have opened an account and its customization has now been completed. You can use it anywhere in the world using online banking options e.g bank website or through an app.
Now, let’s talk about some misconceptions and frequently asked questions about account opening and using it online.
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How To Open A Bank Account In Pakistan FAQs
Which Pakistani Bank opens an account fastest?
Allied Bank in Pakistan is the only bank that offers the fastest account opening services among all.
Limited online account opening service is also present in the Allied Bank.
What is the fastest way to open a bank account?
To open a bank account fastest without wasting a single minute is as
Download the Account opening form from the bank’s website.
Fill out the form by adding personal details, a CNIC copy, and a passport-size photo.
Visit the nearest branch and submit the form.
Good Job! you have successfully opened a bank account.
What documents are required to open a bank account in Pakistan?
The required documents may vary from bank to bank, but generally, you will need your original CNIC (Computerized National Identity Card) or Passport, a recent passport-size photograph, and proof of income or employment.
Some banks may also require additional documents, such as a utility bill or a letter of reference.
Can a foreigner open a bank account in Pakistan?
Yes, foreigners can open a bank account in Pakistan. They will need to provide their passport and other necessary documents as per the bank’s requirements. Some banks may also require the foreigner to have a local reference to open an account.
Is there a minimum deposit requirement to open a bank account in Pakistan?
Yes, most banks in Pakistan have a minimum deposit requirement to open a bank account. The amount may vary from bank to bank and also depends on the type of account you wish to open.
Can I open a bank account online in Pakistan?
Yes, many banks in Pakistan offer online account opening facilities. You can visit their websites and follow the instructions to open an account online. However, you will still need to provide the required documents and complete the verification process.
Are there any fees or charges to open a bank account in Pakistan?
Some banks may charge a fee for opening a bank account, while others may offer free account opening facilities.
Additionally, there may be charges for maintaining the account, ATM withdrawals, and other services.
It is advisable to check with the bank for their fee and charges schedule before opening an account.
How long does it take to open a bank account in Pakistan?
The account opening process may take a few hours to a few days, depending on the bank and the type of account you wish to open.
Some banks may offer instant account opening facilities, while others may take longer to complete the verification process.
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