We all know that there are many banks in Pakistan. It may be in a convenient location, but it may not be and you will have to use the ATM at home frequently to withdraw cash. However, instead of looking for the right bank for your satisfaction, you need to find the nearest bank. In this article, we will discuss the bank account opening procedure in Pakistan.
A bank account is very important for managing your personal finances. Account statements can help you determine where and how you are spending your money and help you to invest money in the right plan. In addition, there are so many facilities that help you to manage your business. So if you are thinking about opening a bank account and you want to know what is the procedure to open a bank account in Pakistan, this article will help you
Bank account opening procedure in Pakistan
So when you decide to open a bank account, make sure you know what the purpose of your account is, so that you can choose the type of account that best suits your needs. There are many banks in Pakistan, you can open your bank account there, but we suggest you open a bank account near your home.Please be sure to bring your original ID and other documents when visiting the branch to open an account
To open a bank account, first of all, you will need to provide the following identification documents.
Photocopy of any of the following identification documents which have been regularly certified by the Gazetted Officer / Moderator / Administrator or Bank Officer.
- Computerized National Identity Card
- National Identity Card for Overseas Pakistani ( When Pakistanis have dual citizenship)
- Pakistan Origin Card ( If foreign nationals of Pakistani origin)
- Valid Passport ( If a foreign citizen)
Documents Required for Individual Account
- Certified copy of the latest and correct identity card of the Educational Institute or a letter from the Educational Institute.
- Proof of earnings of the student’s father/mother/guardian
- Certified copy of service card/payslip
- A certificate from the employer
- A picture of an illiterate person
- Certified copy of CNIC / SNIC of the witness (illiterate person knows)
Frequently Asked Questions ( FRQs)
How much money is required to open a bank account in Pakistan?
The bank has its own criteria for opening a current account. However, now all commercial banks in Pakistan offer a Basic Banking Account (BBA) which requires a minimum initial deposit of Rs. 1000
How many types of bank accounts are there?
There are three main types of bank accounts. Current accounts, savings accounts, and fixed accounts.
Can you open a bank account without a job in Pakistan?
Yes, you can open a bank account, but you have to provide a source of income.