How to Open a Bank Account in Pakistan?


These days, bank accounts are very important for individuals as well as for entities. From small transactions to large ones, you need bank account in Pakistan to transfer payments from one account to another.

If you are resident or non-resident, you can open your account in bank easily.

All Pakistanis can open a bank account in Pakistan without any kind of restrictions until and unless restricted by law.

If you are in the age of majority, you can directly open and operate your bank account. But in case if you are a minor, you’ll have to open your minor account under the supervision of legal guardian.

Before you scroll down and start reading about how to open a bank account in Pakistan, it is worth mentioning here that there are different types of bank accounts which customers can open with banks. But it all depends on the need of the customers that what type of bank account he/she wants.

For instance, if you visit any nearest bank branch and you ask a question to bank officer that “I want to open a bank account”, please tell me “what are the requirements for opening a bank account?”  In the first moment, bank officer will ask you a counter question that what do you do, Are you doing any job, or running a business? The bank officer will try to probe and extract information from you, and try to recommend you the right bank account for you.

However, it is difficult to mention all the requirements about opening a bank account because different banks have different requirements and conditions. Here are four steps for opening a bank account in Pakistan.

4 Steps to Open a Bank Account in Pakistan

How to Open a Bank Account in Pakistan

1. Select a Bank

First of all you need to choose a bank in which you want to open your account. There are different banks operating in Pakistan and all of them offer multiple banking products and services. Each product and service has its own benefit.

So, you need to visit all banks’ official websites and explore their banking products and services. Choose the right product and service of the bank and visit your nearest bank branch.

Some major banks in Pakistan are HBL (Habib Bank Limited), MCB (Muslim Commercial Bank) and ABL (Allied Bank Limited).

2. Visit nearest Branch

Once you choose your favorite bank, visit nearest branch and meet with account opening officer. Tell your requirements and ask what type of bank account will be suitable for you.

Currently, banks offer different types of accounts such as current account, saving account and business accounts. So, choose your bank account according to your needs and requirements.

3. Documents Required for Bank Account

When you apply for a bank account, you will have to complete and submit account opening form along with documents such as proof of identity and source of income.

For instance, if you are doing job, you will have to submit following documents to open a salary account:

Proof of Identity: CNIC / Passport (in case you are non-resident / foreigner) / NICOP

Proof of Residency: Any Paid Utility Bill i.e.  Electricity, Gas, Water

Source of Income: Job offer letter or Salary Slip

Furthermore, if you are doing a business, some basic documents will remain same. However, you will have to submit additional documents such as

  • Company Letter Head(s)
  • Visiting Card
  • Business Address (Utility Bill may require)
  • NTN in case if the business is registered with FBR
  • Self declaration form

Apart from that, if you want to open other bank accounts such as Partnership, society, club, trustee or association accounts, bank officer may ask you to submit following documents:

  • Partnership Deed (in case you are running a partnership firm)
  • Memorandum of Association
  • Articles of Association

While submitting your duly signed account opening form and verified documents, bank officer will verify your identity through Verisys (NADRA Pakistan) and also take your signature on signature specimen card.

Additionally, you will also have to fill and sign FACTA (Foreign Account Tax Compliance Act) form and debarred list as per SBP requirement.

4. Banking Products and Services

Mostly bank accounts offer similar features for current, saving and business accounts. Some of the common features are as follow:

  • Free Cheque Book, ATM, Internet Banking and SMS Alert
  • No Minimum Deposit Requirement
  • Account Holder Insurance / Takaful (optional)
  • OD Facility (Optional) / Credit Card (in case if the account holder is maintaining a business account)

Once you’ll submit your account opening form, bank officer will compile your documents and send it to head office for further processing. You will have to wait 7 to 15 working days for activation of your bank account.

Hope, this article will help you to open a bank account in Pakistan.

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