A Dollar account also known as a foreign currency account allows you to keep your savings in US dollars instead of Pakistani Rupees. These accounts are useful for receiving remittances, doing international transactions, shopping online or saving in a more stable currency. Many banks offer this facility to both residents and overseas Pakistanis.
Benefits of a Dollar Account in Pakistan
| Benefit | Details |
| Currency Stability | Protects your money from PKR devaluation |
| International Transactions | Easy global payments and online shopping |
| Debit/Credit Card Option | Some banks offer debit/credit cards linked to dollar account |
| Receive Foreign Remittance | Ideal for freelancers, exporters, and overseas Pakistanis |
| Business Use | Useful for import/export businesses |
Process to Open a Dollar Account in Pakistan
Choose a Bank
Most leading banks in Pakistan offer dollar accounts. Some popular options include:
Choose the bank based on your preferences like service quality, online banking, card facility and location.
Visit Your Nearest Branch
Go to your selected bank’s main or authorized branch that deals in foreign currency accounts. You can confirm this via the bank’s helpline or website.
Provide Required Documents
You will typically need the following:
| For Pakistani Residents | For Overseas Pakistanis (Roshan Digital Account or FCY A/C) |
| CNIC (original + copy) | NICOP / Passport copy |
| Proof of income / business | Proof of income / job letter |
| Source of funds declaration | Source of funds declaration |
| Recent passport-size photograph | Photograph |
| Utility bill (sometimes required) | Proof of address (if abroad) |
Fill Out the Application Form
The bank officer will provide a Foreign Currency Account Opening Form. Fill in all your details carefully, including your account type (individual/joint) and currency (USD).
Make the Minimum Deposit
Some banks require a minimum deposit to activate the account, usually around $100–$500. Confirm with your bank.
Activate Internet/Mobile Banking
Ask the bank officer to enable online banking so you can check your balance and make online transactions in USD easily.
Collect Debit Card (Optional)
Some banks issue Visa/Master Debit Cards linked to your dollar account (for international use only). This is optional but useful for PayPal and international shopping etc.
Facts Regarding Dollar Account
- No Zakat is deducted on foreign currency accounts unless you authorize it.
- You cannot withdraw dollars in cash easily from every ATM — go to the branch for cash withdrawals.
- Always maintain the minimum balance if required by your bank.
- You can convert dollars to PKR anytime at bank exchange rates.
