Best Bank to use in Pakistan

[Hyde]

I have an account in MCB (Muslim Commercial Bank). They are good people although I think Standard Chartered is probably one of the best bank in Pakistan. Their mimimim requirement to open foreign account is £2000

 

[PakAlp]

And BTW to answer your questions :

• There is no secrecy when it comes to banking data in Pakistan.
  
• Accounts not operated for a year go dormant which means the money gets sent to the central bank. To make the account active again you have to deposit money into it. You may have to do this in-person.
  
• The banks make bank by borrowing money for free from current account holders and lending it risk free to the government. They do not do the job of lending to businesses which is necessary for a healthy economy. Why do you want to help them by opening a current account instead of a savings account???
  
• The government has frozen foreign currency accounts in the past. The most recent freezing was just a few months ago when they prevented tax non-filers from operating their accounts to the full extent possible.
  
• Business account or personal account makes no difference security wise.
  
• The appearance of the bank building has absolutely nothing to do with the security of your money. In Pakistan people believe that it is government owned banks that are the most secure because of the implicit government guarantee on their obligations (the money they are borrowing from you). These also tend to have the shoddiest buildings and the most rude staff!

Ok so current accounts get frozen after a year, but savings account stay open, I didn't know that. Cheers. I wanted interest free account and that's why wanted to open current account

 

[PakAlp]

When did you last visit my country Pakistan from your country UK or whatever it is? no one steals your money from banks.Youre depositing your 2000 to 3000 pounds , ppl whom i know are having 100x than this in their personal banking accounts and living happily.Kabhe to acha soch liya karo is mulk kay liye jaha paida huay

I visit Pakistan after a few years. Last time visited last year
And sir check Facebook reviews by your Pakistanis. I've checked Askari bank and people reviews seem to be mostly negative. Rude staff, lazy staff, account frozen, have a call centre but people who pick up seem asleep and keep cutting off. Sharing account details of the customer to customers relatives etc etc. This is why I wanted to enquire which bank is the best out from 15odd banks. Wanted to play it safe.

 

[PakAlp]

I have an account in MCB (Muslim Commercial Bank). They are good people although I think Standard Chartered is probably one of the best bank in Pakistan. Their mimimim requirement to open foreign account is £2000

Thanks. This is one of the banks I am considering. I normally use this bank if I want to send any money to Pakistan.
And I don't want to open an foreign account. I want to go Pakistan and open account with my overseas card. Nadra card. I wanted to consider the Askari fouji bank but Facebook review by customers is very low.

Standard Chartered bank, MCB Bank, HB, and UBL are on top of my list.

 

[Hyde]

Thanks. This is one of the banks I am considering. I normally use this bank if I want to send any money to Pakistan.
And I don't want to open an foreign account. I want to go Pakistan and open account with my overseas card. Nadra card. I wanted to consider the Askari fouji bank but Facebook review by customers is very low.

Standard Chartered bank, MCB Bank, HB, and UBL are on top of my list.

These are the main banks in Pakistan anyway

Regarding the accounts being dormant... Dont worry if u ask somebody to deposit 50 rupees (or lets say £1) into your account after every 11 months... Your account will remain active forever... They can deposit on your behalf... Only if the 12 months period has lapsed you will need to present yourself with ID card...

Yes Nadra overseas card is fine as it was accepted for my account in MCB bank although I noticed I went with my brother and everybody knew him already for being my local branch so all he said is my bro wants to open an account and the bank manager himself knew my name... Lol... so he said oh Zaki ne account khulwana hai... And asked one of his colleagues to just open my account... That ID card was just a formality and nothing else was provided as they said oh (my name/cast) your bro and your father already had an account with us for decades so why do you embarras us with your proofs... Lol

 

[War Thunder]

Lol. What's the closest to what I am looking for please. What would you say are your top 5 banks?
I was assuming maybe business accounts would be more secure.
The issue is i dont want to come back to uk and someone close to me in Pakistan pays the bank manager and takes my money out or even keeps an eye on my account balance etc.

then you have been living in some cave for sure or just too deluded to have a proper opinion. You should stick to your UK with your low IQ as you fellas are only good for your UK.


P.S: All or most of the bigger banks in the country are fine to go ahead with.
You can stick with Standard Chartered though, although there are several others I can't remember names of.

 

[Abdussamad]

Ok so current accounts get frozen after a year, but savings account stay open, I didn't know that. Cheers. I wanted interest free account and that's why wanted to open current account

I never said. All accounts, regardless of account type, that don't have any transactions for more than a year become inactive. Interest being credited to your savings account does not count as a transaction here. Once your account is dormant you have to go in person to the branch to make it active again.

Why don't you like interest? Interest is good.

Note one other thing. I don't know if any banks offer internet banking for foreign currency accounts. You will have to verify this yourself. Internet banking in Pakistan is used to send money via domestic bank transfers (IBFT), pay utility bills and view account details. Except for the last one non of the other functions apply to foreign currency accounts. To send international wires you have to go in person to the bank AFAIK.

 

[thunderr]

I visit Pakistan after a few years. Last time visited last year
And sir check Facebook reviews by your Pakistanis. I've checked Askari bank and people reviews seem to be mostly negative. Rude staff, lazy staff, account frozen, have a call centre but people who pick up seem asleep and keep cutting off. Sharing account details of the customer to customers relatives etc etc. This is why I wanted to enquire which bank is the best out from 15odd banks. Wanted to play it safe.

I have never faced any problems with banking system in Pakistan.My account with HBL is 20 years old and I never found any illegal transaction or anything like that.Staff / customer services are all nice to deal with . If you really have some problem then cc email to banking mohtasib , they wll take care of it.
The people who lost money from their accounts are themselves guilty - who told them to tell interlopers their cards pin numbers name address etc etc . Why don't they crack my account.Its not hacking its the freakin awareness which is needed.