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I.T Exporter &
Freelancer Account

Instant Payments Made Easy for Freelancers

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Category

The Faysal Islami I.T Exporter & Freelancer Account is a Shariah-compliant solution designed specifically to cater to the unique banking needs of those engaged in digital and online services, including IT and IT-related fields. This account facilitates the management of payments received from outside Pakistan, ensuring a seamless banking experience for I.T professionals.

This Qard-based account will have the following:

  • A primary PKR Account
  • A parallel Non-Checking Export special foreign currency account (Retention Account for foreign currency receipts)


Export special foreign currency account

Freelancers can conveniently retain their inward remittances in US Dollars, GBP, and EURO by opening an Exporter’s Special Foreign Currency Account (ESFCA) at any Faysal Bank branch. This account allows freelancers to keep up to USD 5,000 per month or 50% of their total freelancing remittance income, whichever amount is higher.

Open your account today and securely manage your foreign currency earnings with ease.

Features

  • Primary Account (PKR)

    On maintaining average balance of PKR 50,000 or above you can avail the following “free” services:

    • Cheque book

    • Pay Order

    • Duplicate Account Statement

    • Internet & DigiBank Mobile App

    • Funds from FCY retention account can be transferred in PKR account

    • No Minimum Balance required

  • Retention Account (FCY)

    • 50% retention of Foreign Currency in this account

    • Instant Inward Remittances from around the World

    • International Payments, Withdrawals via ATM and POS transactions on FCY Debit Card

    • Funds from FCY retention account can be transferred to PKR account for withdrawal. Direct withdrawal isn’t allowed in Pakistan

  • Value Added Features

    • Free Workspace at Faysal Bank Priority Centers

    • Free WhatsApp Banking Facility

    • Virtual Debit Card Facility via Faysal Digi Bank App

    • Payoneer Facility via Faysal Digi Bank App

Please note: Any free offerings / features to current / saving accounts are at Bank’s sole discretion and Bank reserves the right to discontinue at any point of time.

Eligible Customers

Suitable for Freelancers, IT Exporters & Individuals

How it Works

Faysal Islami I.T Exporter & Freelancer Account operates on the Qard principle. This means the Bank is obliged to repay the depositor's money on demand. While the Bank can use the funds for investments and other purposes within Shariah boundaries, accountholders do not partake in any gains or losses incurred on their deposits with the Bank.

Document Required

I.T Exporter
  • Valid attested copy of Identity Documents:

    • Computerized/Smart National Identity card (CNIC/SNIC)

    • National Identity Card for Overseas Pakistanis (NICOP)

    • Pakistan Origin Card (POC)

    • Alien Registration Card (ARC)

    • Passport

  • Valid source of income – NTN, Letterhead, registration from regulatory body

  • Present address verification

  • Registration from any authorized body i.e. TDAP, Chamber of Commerce, PSEB etc.

  • Any other documents (if required).

Freelancer
  • Valid attested copy of Identity Documents:

    • Computerized/Smart National Identity card (CNIC/SNIC)

    • National Identity Card for Overseas Pakistanis (NICOP)

    • Pakistan Origin Card (POC)

    • Alien Registration Card (ARC)

    • Passport

  • Copy of agreement(s) or email / letter-based correspondence with the clients or any other document, which clearly mentions the basic details / information regarding the underlying services. These details shall be inclusive of but not limited to the:

    • Portal’s name (if any) through which the services are acquired

    • Details of the counterparty acquiring the services

    • Scope of work / nature of the services

    • Remuneration terms agreed between parties

  • Certificate / Statement of earnings for past 3 months

  • Copy of Sales Tax Registration or NTN certificate, if available

  • Any other documents (if required).

Important Links

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