I live abroad and want to open a foreign currency account in Pakistan.Can someone lay down the main benefits in opening such an account and some other detailes like
1. Which bank is better to have such an account
2. Is there any choice of opening a current account.
3. Can it be in any currency, like dollars, pounds,riyals, etc
4. Does our amount keep fluctuating alongwith the currency fluctuation in the market or whatever we deposit remains the same irrespective of the currency fluctuation.
Thanks
ALM replied on Tuesday, February 24, 2009 05:09 PM
- You can open in USD, GBP, EURO.
- Your currency value remains same regardless of Xchange rate. You deposit in $, you withdraw in $.
- Use any good bank, SCB, RBS etc |
Friend replied on Tuesday, February 24, 2009 11:11 PM
1. Which bank is better to have such an account
<Banks are banks it doesn't matter which bank you open up the account.
2. Is there any choice of opening a current account.
<yes
3. Can it be in any currency, like dollars, pounds,riyals, etc
<Yes.
4. Does our amount keep fluctuating alongwith the currency fluctuation in the market or whatever we deposit remains the same irrespective of the currency fluctuation.
<Foreign currency account amount stay the same in foreign currency, but it will fluctuate once you break them into repuees. |
yessss replied on Wednesday, February 25, 2009 02:29 AM
I have a US Dollar account at Standard Chartered Bank. WHen the US reaches 100 rs, I will exchange it all for rupees !! |
alpha beta replied on Wednesday, February 25, 2009 03:31 AM
Wallah! they are all thieves. Do you know they charge in the name of service charges (especially RBS former ABN AMRO) US $65 for telex transfer from abroad. This amount is just for receiving the transactions. I think nowhere in the world any bank charges for receiving the money. So beware of these thieves and better opt for some Pakistani (govt. owned) bank.
I would recommend National Bank for maintaining foreign currency account. |
Mazhar replied on Wednesday, February 25, 2009 05:12 AM
from usa one can open foreign currency account with UBL
here is the website.
www.ublny.com
I do not have any personal account with ubl but I have used their service to send money to my family many times in last 4 years and never had any problem.
good luck |
Umar replied on Saturday, June 9, 2012 04:00 PM
I live in Pakistan and want to open foreign currency account. Can I buy dollars from open market for the purpose? |
