Alhamdulillah, Meezan Bank – the first and largest Islamic bank in Pakistan is now giving freelancers the opportunity to have their own full-fledged Savings/Current account. We realize that freelancers often sell their services by the hour, day, job nature, etc. to multiple clients rather than working on a fixed salary for one employer and therefore need a functioning bank account allowing smoother transactions. With Meezan Bank, freelancers can now easily receive their work payments / remittances directly into their personal accounts
Frequently Asked Questions (FAQs)
1. I do freelance jobs for multiple websites like Fiverr, Upwork, Guru, Freelancer.com etc.
Will any certificate issued by these sites be considered as an acceptable source of
income?
Yes, certificates issued by these sites are generally verifiable from the respective website
and are considered as acceptable source of income. In addition, copy of agreements or
email / letter-based correspondence with the clients OR any other document which clearly
mentions the basic details / information regarding the underlying services, may also be
considered as an acceptable income source.
Furthermore, the Certificates / Statements of earnings for past 3 months or any other
document provided by the companies / clients proving that the freelancer is working for
them and has earned a particular amount of income in past 3 months, are also considered
a valid source of income.
2. Being a Freelancer, can I open a FCY / PKR account?
Yes, being a freelancer, you can open a FCY GBP EURO USD / PKR account in Meezan
Bank. However, kindly note that as per State Bank of Pakistan’s regulations, remuneration
for services provided from Pakistan cannot be received in FCY; therefore, all foreign
remittance of freelancers gets credited in PKR in their PKR account.
3. As freelancer, can I receive my commercial remittance in my PKR / FCY account?
You can receive your freelancing payments in your PKR account only.
4. What rate will be applied on the conversion of my FCY remittance?
Exchange rates are dynamic and new conversion rates are announced daily by the Bank
for inward foreign remittance.
5. How can I find out the IBAN of my account?
Meezan Bank website has an IBAN generator, through which you can generate IBAN of
your respective account.
[ Ссылка ]
6. Can remittance from Western Union, RIA, Moneygram be credited in my account?
Yes.
7. Can I make outward remittance from my PKR / FCY account?
Outward remittances from PKR accounts are not allowed except for purposes such as
medical treatment, education fee, etc. as specified in SBP Foreign Exchange Manual.
Further, outward remittances of personal nature (i.e. non-commercial/non-business) can
only be effected from your private FCY Account.
8. Can Home remittance be received in PKR freelancer account?
Yes, home remittances from blood relatives can be received in PKR freelancer account
only.
9. Can freelancer make Term deposit from Freelancer account?
Yes.
10. Can freelancer account be opened in current/savings accounts type?
Yes.
11. Will Charges of debit card, SMS will be charged?
They will be charged as per prevailing Bank Schedule of Charges that may be accessed
from [ Ссылка ]
12. Will I get a debit card for FCY account?
Debit card will only be issued for PKR account. Debit cards can be used to withdraw cash
from more than 8000+ ATMs countrywide via 1Link and MNET Networks, POS, online
purchases, etc.
13. What are the requirements/ source of funds to open individual freelancer account?
Proof of profession such as copy of agreement/certificate/ letter-based correspondence
that includes:
• Portal name through which services are provided
• Nature of services
• Scope of work
• Copy of Sales Tax NTN Certificate
Furthermore, a valid source of income such as the certificates / statements of earnings for
past 3 months or any other document provided by the companies / clients proving that the
freelancer is working for it and has earned a particular amount of income in past 3 months,
are also considered a valid source of income.
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