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    Freelancers FAQs

    Uploaded by

    Pe Wox
    This document provides answers to frequently asked questions about opening and using freelance accounts at Meezan Bank. Key details include: certificates from freelance platforms like Upwork are acceptable income sources; freelancers can open both PKR and FCY accounts but can only receive remittances in PKR; exchange rates for FCY remittances are set daily; the bank website has an IBAN generator; and requirements to open an account include proof of profession and valid income source like earnings statements.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Freelancers FAQs

    Uploaded by

    Pe Wox
    18 views2 pages
    This document provides answers to frequently asked questions about opening and using freelance accounts at Meezan Bank. Key details include: certificates from freelance platforms like Upwork are acceptable income sources; freelancers can open both PKR and FCY accounts but can only receive remittances in PKR; exchange rates for FCY remittances are set daily; the bank website has an IBAN generator; and requirements to open an account include proof of profession and valid income source like earnings statements.

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    freelancers-FAQs

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    This document provides answers to frequently asked questions about opening and using freelance accounts at Meezan Bank. Key details include: certificates from freelance platforms like Upwork are acceptable income sources; freelancers can open both PKR and FCY accounts but can only receive remittances in PKR; exchange rates for FCY remittances are set daily; the bank website has an IBAN generator; and requirements to open an account include proof of profession and valid income source like earnings statements.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    18 views2 pages

    Freelancers FAQs

    Uploaded by

    Pe Wox
    This document provides answers to frequently asked questions about opening and using freelance accounts at Meezan Bank. Key details include: certificates from freelance platforms like Upwork are acceptable income sources; freelancers can open both PKR and FCY accounts but can only receive remittances in PKR; exchange rates for FCY remittances are set daily; the bank website has an IBAN generator; and requirements to open an account include proof of profession and valid income source like earnings statements.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Frequently Asked Questions (FAQs)

    1. I do freelance jobs for multiple websites like 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.

    https://www.meezanbank.com/iban-generator/

    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 Islamic Term deposit Receipt (I-TDR) 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
    https://www.meezanbank.com/

    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 Sale 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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