How to open a bank account in Pakistan

How to open a bank account in Pakistan

People who don’t own a bank account find it hard to open a bank account. They might be thinking that it is a time-consuming process and they have to pay any charges in order to have a bank account. On the other hand, there are many banks in Pakistan now, so they might feel difficult to choose the right bank for themselves. But thanks to the bloggers they have shed an immense amount of information to help the people. So here I am also going to share a step by step guide to open a bank account in Pakistan.

How to open a bank account in Pakistan - City Book

1. Choose bank wisely:

There are many banks like private and national banks providing their services. Before going to any bank you must do a little research about the services different banks are providing. This will help you to decide the bank of your needs. With quick internet research you can come to know about rates, fees banks are charging from its customers.

How to open a bank account in Pakistan City Book

2. Documents you must have:

In the next step you have to check the documents you must have at the time of opening your bank account. The list of documents a bank needs varies from bank to bank. But almost all banks required these documents:

•          A valid ID card, passport or a driver’s license.

•          Person information of the person, name address, email, Phone number, date of birth, etc.

•          Proof of your residential address.

•          Proof of your resource of income.

How to open a bank account in Pakistan City Book

3. Choose account type:

There are many types of bank accounts. If you are a business owner then you can open a business account. In the case of an individual, you can have your own personal account. These account types also vary in different categories like saving account, current account and profit and loss account.

How to open a bank account in Pakistan City Book

4. Put the initial deposit:

This is the last step of opening an account. You must have searched about the requirement of the minimum deposit fund to open a bank account.  You can only open an account with some initial deposit in the bank. In Pakistan, most of the banks have a minimum requirement of 1000 rupees. This is a must-have feature of the account opening process. Some banks also offer no minimum balance requirement.

5. Agree to the terms and conditions:

While filling out the application form, banks also provide the detail terms and conditions forms. You must have to agree to these terms. You must read these carefully and then sign the application form.

Time to use the account:

It’s time to use your bank account because you have successfully opened the bank account. Opening a bank account is not a difficult task now and not even operating it. With the help of technology, banks have quicker their process of transaction through credit cards, ATM debit cards. Bank accounts information can easily be accessed now with just a click from your smart device.

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