How to open a bank account in Pakistan

I am a student and working part time as a research assistant and need to open a bank account to receive my salary.

Graduate Asked on September 11, 2015 in Personal Finance.
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    I am a student and working part time as a research assistant and need to open a bank account to receive my salary.

    Opening a bank isn’t as simple as walking up to an ATM and withdrawing your money. You require a bit of preparation to open a new bank account. For example, you’ll have to decide which account type you want and how you want to use it. Fortunately, this process isn’t very complex once you learn a few banking basics.

    Follow the steps below to successfully open a bank account:


    Make sure you’re eligible for opening a new bank account. You’ll need to be over 18. You’ll need a minimum amount of money for initial bank deposit. Bank Al-Falah requires you to deposit Rs 2000 and they put this money into your account. However, amount of money for opening an account varies form bank to bank. You’ll also need some identification documents and be ready to share some personal information.

    Choose the right back for you

    All the banks are not same. Their services and charges are different. You’ll need to find a bank that suits your needs. There are some large chain banks and they’ve branches in various cities and even international branches. They usually charge more than small banks. However, small banks generally charge less but they don’t have a lot of branches across the country. Do a bit of research and you’ll be able to move the right piece.

    Pick the account type you want

    Most of the time when someone opens a new bank account, it’s a regular current or saving account. There’re other types of accounts such as business account and salary accounts, etc. You can ask for details of these accounts by visiting your desired bank’s website or simply call costumers service representative.

    Visit the bank and ask to open an account

    Visiting a bank personally is usually the best way for newbies. One big advantage is that you can ask as many questions as you want about the bank policies and services.  You will be required to submit documents, read terms and policy document and filling out the account opening form. You’ll be guided step-by-step when you’ll visit the bank.

    Important questions to ask before your finalize your account

    This is an excellent time to ask for clarification if there’s anything regarding your account that is beyond your understanding.  Don’t worry about asking any questions that come up in your mind about the account.

    Ask questions about a monthly fee for maintaining your account, the minimum balance that you need to keep within the account, ATM and check book details and charges, transaction charges and so on. You may also ask how you can make transactions without paying fees.

    Keep the account documents secure

    You’ll receive important documents that contain information about your account. You should keep them secure and make sure no-one can access them. People may use that information for bad purpose.


    You can also apply for internet banking and mobile banking that allow you to make transactions while sitting at home.

    If you’re under the age of 18, you’ll need help of your parents to open a bank account for you.

    Lecturer Answered on September 11, 2015.
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