Like, if you want to open an acct for your nephew to start saving for his education. What kinds of ID do you have to have? How difficult is the procedure?
And are there bank machines in Pakistan? (I haven’t been in the country in 8 years…)
Re: How difficult is it to open a bank acct in Pakistan?
Like, if you want to open an acct for your nephew to start saving for his education. What kinds of ID do you have to have? How difficult is the procedure?
And are there bank machines in Pakistan? (I haven't been in the country in 8 years...)
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hi...remember me? how are you? what happened to ur baby goats? hehe
since i am not from pakistan so i can't be of any help. what i know for sure is that there are ATM's at every major intersection. :) how old is ur nephew? **
Re: How difficult is it to open a bank acct in Pakistan?
Have you ever had a Bank account in pakistan ? if yes well the process is still same , most Banks( Local as well as international players ) can take up to one or max two weeks to process your account and issue you a cheque book.
It can take up to one month to get a working ATM card. As these things will not be mailed to you. Therefore you are required to check periodically with your branch to see if they've arrived. Clearing takes 2 to 3working days to process in most banks, deposits normally reflects on same day although they generally tell you it takes 1 to 2 working days.
for opening an account you need
copy of your NIC or NICOP ( For NRP)
if you are a foreign national then you may also need :
if you are working than , copy of your work visa with at least three months validity (without this, you will not be able to open an account in your name)
copy of your passport and your original passport for reference .
if you are based in US - check UBL Click N Remit , it is a simple, hassle-free & reliable e-Remittance service for Non Resident Pakistanis (NRPs), complemented with a deposit account. Now, US-based NRPs can open and maintain an account in Pakistan-completely online and without any paperwork!
now coming back to ATM issue .. well lets read this
we got ATMS in this country since 1995 ..
MCB got 30 ATMs in 25 cities, including the hill station Murree.
United Bank got some 400 ATMS across the country - you can find many in Azad kashmir as well .
Standard Chartered Bank has a network of over 200 ATMs across Pakistan.
Most banks use the 1-Link network, so if you have an account a bank within the network, you can use any 1-Link ATM. 1-Link members include Allied bank, Muslim Commercial Bank (MCB), Askari Bank, Faysal Bank, United Bank Limited (UBL), Habib Bank and others.
Re: How difficult is it to open a bank acct in Pakistan?
OK, thanks! That helps a lot!
Re: How difficult is it to open a bank acct in Pakistan?
Just make sure to get some feedback about UBL....i have heard some horror stories about their local card system...
Re: How difficult is it to open a bank acct in Pakistan?
Make sure you ask the bank about minimum balance restriction.