Pakistan (PK)
Pakistan is South Asia's second-largest country and a land of extraordinary contrasts — from the towering Karakoram peaks in the north to the bustling port city of Karachi on the Arabian Sea.
Banking in Pakistan
Recommended banks, payment culture and credit score basics.
Banking is possible for legally resident expats, but KYC is strict and requirements have tightened. Most expats working in Pakistan are sponsored by employers (multinationals, NGOs, development organisations, embassies, or infrastructure projects) and their employer arranges the initial banking relationship. You will need your passport, valid work or resident visa, employer appointment letter, proof of local address, and a NTN (National Tax Number from FBR) for salary and business income. CNIC (the national ID card) is for Pakistani nationals only — foreign residents use passport-based KYC. Roshan Digital Accounts are specifically for the Pakistani diaspora overseas, not for foreigners physically resident in Pakistan on work visas.
Recommended banks
Standard Chartered Pakistan
EnglishMonthly fee: Priority Banking: no monthly fee with PKR 1,000,000+ average monthly balance; standard current account: PKR 150–300/quarter maintenance charge; annual debit card fee PKR 500–1,200
Requirements: Passport, valid work visa or residence permit, employer appointment letter, proof of Karachi/Lahore/Islamabad local address, NTN or tax registration documents where required. Branch visit required. Stricter source-of-funds documentation for Premium/Priority Banking.
- + Best-recognised international bank for expats — familiar interface for globally mobile professionals
- + Priority Banking relationship manager for qualifying customers
- + Full English digital banking and Straight2Bank corporate platform
- + Strong SWIFT international wire transfer capabilities
- + Multi-currency account options available
- + Widely accepted for embassy and corporate employer payroll
- - High minimum balance to access Priority Banking and avoid quarterly charges
- - Limited branch network — primarily in Karachi, Lahore, Islamabad, and Rawalpindi
- - FX transfers require SBP documentation; large outward remittances need purpose evidence
HBL (Habib Bank Limited)
EnglishMonthly fee: Account maintenance: PKR 75–200/quarter; debit card annual fee PKR 500–900; SMS alert PKR 5–10/message or PKR 100–200/month flat
Requirements: Passport, valid work visa, employer letter, proof of local address, photos, NTN where required. HBL has the widest branch network of any Pakistani bank.
- + Pakistan's largest bank — branches in every major city and many smaller towns
- + HBL Mobile app for Raast instant payments, IBFT, and account management
- + Strong corporate banking — widely used for NGO, construction, and infrastructure employer payrolls
- + Good ATM network, including in cities outside Karachi and Lahore
- + International HBL branches (UK, UAE, China, Bahrain) can ease pre-arrival coordination
- - Branch service quality varies — city centre branches better staffed for foreign clients
- - Outward SWIFT remittances require SBP Form M, purpose codes, and supporting documents
MCB Bank
EnglishMonthly fee: Account maintenance: PKR 75–250/quarter; debit card annual fee PKR 400–800
Requirements: Passport, valid visa, employer letter, proof of address, photos, NTN where applicable. MCB Bank offers digital account opening through MCB Lite app for citizens, but foreigners still require a branch visit for initial KYC.
- + Good urban branch network across Karachi, Lahore, Islamabad, and Faisalabad
- + MCB Mobile app supports Raast P2P, IBFT, and bill payments
- + Reliable ATM network including at MCB Plaza outlets
- + Popular with NGO, INGO, and private-sector employers
- - English support is available but varies by branch seniority
- - Less international profile than Standard Chartered
Meezan Bank
EnglishMonthly fee: No monthly fee; no minimum balance penalty for basic Riba-free accounts; annual debit card fee PKR 500–1,000
Requirements: Passport, valid visa, employer letter, proof of address, photos. Meezan Bank operates strictly under Islamic finance principles — no interest charged or paid; profit-sharing on savings applies.
- + Pakistan's largest Islamic bank — all products are Sharia-compliant
- + No minimum balance penalty — useful for expats with variable monthly salary timing
- + Good Raast and IBFT integration through Meezan Mobile App
- + Competitive profit rates on Islamic savings and term deposits
- + Preferred by expats from Muslim-majority countries who require Halal banking
- - Product names and structure differ from conventional banking — confirm product terms before opening
- - Less international network than Standard Chartered for SWIFT transfers
JazzCash
Monthly fee: Free account; cash-out fee approximately 1–2% of amount; free transfers to JazzCash wallets
Requirements: Jazz (Veon) SIM card registered under your name using biometric CNIC verification for citizens; foreign residents with passport-based SIM registration may face wallet limits. Easypaisa (Telenor) operates similarly. Confirm current foreigner eligibility at a Jazz/Telenor franchise.
- + JazzCash and Easypaisa are the dominant mobile wallets for daily payments — supermarkets, pharmacies, ride-hailing, utility bills
- + QR code payments at millions of merchants across Pakistan
- + Useful for paying domestic helpers, drivers, and neighbourhood services where bank transfers are not common
- + Airtime and data top-up, DEWA-equivalent utility payments in-app
- - Primary interface in Urdu — English switch limited
- - Foreign national registration (non-CNIC) may hit account limit ceilings under SBP wallet rules
- - Cannot replace a bank account for employer salary or large transactions
Payment culture
Cash (Pakistani Rupee, PKR) remains essential for markets, local transport, domestic services, tips, and most small-merchant transactions. However, Raast — the State Bank of Pakistan's instant interbank payment system — has transformed the urban payment landscape since 2021: all salary payments, rent, and major bills now typically settle as Raast transfers between bank accounts, near-instantly and free. IBFT (Interbank Fund Transfer) handles larger or scheduled transfers. Debit cards (Visa, Mastercard) are accepted at supermarkets (Imtiaz, Carrefour, Metro), modern restaurants, petrol stations, and major retailers. JazzCash and Easypaisa QR payments are ubiquitous at smaller merchants. Credit cards are accepted at hotels, formal restaurants, and travel agencies. Always carry small PKR notes for taxis, rickshaws, local stalls, and tips.
Cash access
ATMs are available across Karachi, Lahore, Islamabad, and major cities. HBL and MCB have the widest ATM footprints. International Visa and Mastercard withdrawals are accepted at most ATMs; expect a foreign-card fee of PKR 300–500 per withdrawal plus your home bank's charge. ATMs near major hospitals, airports, and shopping centres are most reliable. Cash supply can tighten during Ramadan and Eid — withdraw several days in advance. Carry contingency cash when travelling outside metropolitan areas.
eCIB (Electronic Credit Information Bureau) — State Bank of Pakistan
The eCIB is managed by the State Bank of Pakistan and accessed by banks and lenders when assessing credit applications. Individual credit history can be obtained by submitting a request to the SBP or through your bank. Private credit bureaus (PACRA, VIS) also issue ratings for corporate entities.
New foreign expats have no local eCIB history. Banks assess creditworthiness for foreigners through salary, employer name, and account tenure. Personal unsecured loans are generally not available to foreigners. Secured loans (against fixed deposit) are possible at some banks. Keep payslips, bank statements, and employer letters as your credit substitute.
International transfers
Inward remittances are fully legal and encouraged under Pakistan's foreign exchange regime — keep encashment certificates issued by your bank for all incoming foreign currency, as these are needed for re-conversion and onward transfers. Outward remittances (sending money abroad) require SBP Form M, a declared transfer purpose, supporting documentation (employment contract, family maintenance evidence, etc.), and approval above certain thresholds. Use Standard Chartered or HBL for the most established SWIFT transfer services. For personal transfers, Wise operates in Pakistan for receiving payments but outward PKR transfers remain bank-only.