Best Bank in Pakistan

A newcomer to the scene of money transfer services, Ogvio is already shaping up to be one of the most convenient ways to handle online payments and remittances without too many redundant features clogging up the interface. It might just be the best digital bank in Pakistan for people in need of a more minimalist setup with equally unobtrusive fees.

This app supports sending money to 160+ countries and regions, with transfer costs as low as 0.25%. Speed is another one of its trump cards: unlike many traditional banks, Ogvio uses local payment rails to bypass international transfer fees and process the transaction as quickly as possible. For users in Pakistan, that'll be Raast Instant, an instant payment system developed by the State Bank of Pakistan.

	OGVIO
Overall Score	9.8
Transaction Fees	Free-to-Low
Pricing Model	Per-transaction
Value For Money
Verdict	A global money transfer service with an additional volatile currency rate pegging to USD or EUR.
	Visit site Read review

Table: Ogvio features

Despite its stripped-down interface, Ogvio is deceptively versatile. You can deposit money into your account in the same ways you would into a traditional bank account: via a credit/debit card, a bank transfer, or a mobile wallet, as well as receiving money directly from other Ogvio users. In addition, Ogvio supports crypto deposits and transfers on the Base network.

As I've seen a lot of users asking, "Which is the best bank in Pakistan for holding money in USD?", let me highlight another compelling feature that sets this app apart. Ogvio automatically converts any deposited currency into USD or EUR - a functionality marketed as a safeguard to stabilize the value of users' balances if they're holding one of the more volatile local currencies.

You won't need to worry about the security of your money, either. Ogvio's underlying infrastructure is that of a non-custodial crypto wallet, meaning that your funds are stored in blockchain-based smart vaults instead of centralized servers utilized by traditional bank accounts, with no third-party middlemen involved. Every Ogvio wallet is protected with advanced 256-bit AES encryption and biometric authentication.

Founded in 1941, Habib Bank Limited claims the honored spot of the oldest and largest bank in the country, with more than 1,700 branches and a strong international presence. But does that alone make it the best bank in Pakistan? That depends on what you're looking for.

With a foreign currency account among its range of options, HBL is a solid pick for Pakistanis living abroad. You can open an account in USD, GBP, EUR, or CNY (although only the USD account includes the option of a debit card). This bank has branches and affiliates in 20+ other countries, including the United Kingdom, Hong Kong, and Switzerland.

HBL's size alone gives it a substantial edge when it comes to convenience and accessibility. With its large ATM network, you shouldn't have any trouble withdrawing some cash on the go, finding a local branch, or opening just about any type of account, including an Islamic banking account. Many also consider it to be the best bank for a savings account in Pakistan, with a whopping 9 options to choose from.

Where HBL really shines is its remittance features. It offers a FastTransfer service for sending money back to Pakistan from anywhere in the world, and even a dedicated Konnect Home Remittance Account that lets you receive money from abroad directly in your mobile account. However, it's been criticized for its rather high currency conversion rates.

HBL doesn't offer anything groundbreaking in the digital banking department, but you'll still find a solid package of features. It supports the Raast payment system, an option to open a digital bank account online, and has its own billing portal that supports over 100+ payment partners. There's also an option to manage your digital account through WhatsApp.

Which bank is best in Pakistan for a Sharia-compliant account? If that's your main criterion, look no further than Meezan Bank. As the first and largest Islamic bank in the country, it offers the widest selection of bank accounts for both businesses and private users that are fully in line with the principles of Islamic finance.

You can open a PKR current account without any maintenance fee or initial deposit, as long as you keep up the minimum required balance of PKR 1,000. It offers the full online banking functionality with unlimited withdrawals. This account comes with a free Visa or Mastercard debit card and a cheque book. In contrast, the USD current account does have a minimum deposit of $100 and a withdrawal limit of $500 per day.

Meezan Bank's savings accounts are all interest-free. The regular PKR savings account has no restriction on withdrawals or the number of transactions (only a minimum deposit of PKR 100). Meezan Bank utilizes the Mudaraba model with a 50/50 profit-sharing ratio between the bank and the customer. As of writing this, the monthly profit rates are around 7.28%.

If you're willing to pay extra for the VIP experience, Meezan Bank's premium banking offers plenty of attractive perks. You'll get a World or Platinum Mastercard debit card that grants access to 25-900+ airport lounges worldwide, an increased daily spending limit, and various fee waivers and other discounts. Premium customers also get access to exclusive customer support channels.

Meezan Bank's digital banking features include support for Raast Instant payments (including the P2M QR, a fully functional online banking platform, a mobile app, and WhatsApp banking). In addition, you can set up SMS or email transaction alerts, link your account to Google Pay, and use the Tap & Go functionality for quick payments across major outlets in Pakistan.

This Lahore-based commercial bank often claims a spot on "Best Bank in Pakistan" lists for its versatility, user-friendliness, and digital banking features. It offers personal, business, and Islamic banking with a decent selection of account types, Roshan services, loans, and insurance plans.

Its Allied Current Account is one of the most popular entry-level options for new customers. It includes free online cash deposits and withdrawals, internal transfers, cheques, and a debit card. The only downside is the maintenance costs: this account requires an initial deposit of PKR 1,000, a minimum monthly balance of PKR 250,000, and a PKR 50 monthly service fee.

Users who prefer a more flexible alternative can opt for the Allied Easy Current Account instead, which does away with the monthly service fee and the minimum balance requirement. In addition, there's an Allied Express Account designed for remittances, and specialized accounts for youths (18 to 35 years old), seniors (55+ years old), and freelancers.

ABL's digital banking solutions include a Roshan Digital Account for non-resident Pakistanis (NRPs). It's available in PKR, USD, GBP, and EUR and comes in the form of a current or savings account, as well as an Islamic account version. It offers a simple Repatriation of Funds workflow, online utility bill payments, and a free initial cheque book (you'll have to pay for additional ones, however).

This bank offers a well-rounded set of digital services, too. The myABL Wallet app goes a step further than your average mobile banking app, letting users open a branchless banking account linked to their mobile number. And if you need a way to send money to someone without a bank account, check out ABL's Pay Anyone service: your recipient can collect the money in cash from any Allied Bank branch or ATM.

Which is the best bank in Pakistan for a digital account? If you'd rather forgo traditional banking in favor of managing your account online or on your phone, UBL is one of the top choices. It offers both conventional and Islamic accounts, alongside savings accounts, insurance, consumer loans, and premium banking.

UBL's Roshan digital account caters to non-residents looking to open a Pakistani bank account abroad. After completing a 100% online account creation process, you'll get access to a number of features exclusive to this type of account, such as investments in Naya Pakistan Certificates (NPCs), funds repatriation service, Roshan pension plan, and more.

UBL has branches in 10 other countries and regions, and its Tezraftaar Account is perfect for remittances. You can send or receive money between 100+ connected money transfer institutions in the supported countries/regions for free and choose your preferred delivery method, including over-the-counter cash pickup.

Meanwhile, the Omni HRA account lets users receive remittance through any ATM or UBL Omni Dukaans without having to visit your branch.

For local customers, the most hassle-free option is the Asaan digital account. The only thing you'll need is your CNIC (Pakistan's government-issued ID card) and a mobile number registered with it. This account doesn't require any initial deposit or minimum balance and comes with free insurance and a cheque book. The maximum balance limit is PKR 3 million. You can pick between a conventional or Islamic account option.

If you're looking for a loan, UBL has got you covered, too. UBL Address and UBL Drive are tailored for financing a property or car purchase, respectively, while UBL Cashplus isn't limited to any specific type of purchase, offering a general loan for up to 4 years with a maximum limit of PKR 3 million.

If you're looking for a bank that was designed from the ground up as a digital-first platform, Easypaisa is definitely worth a look. Whether it's the best digital bank in Pakistan is still up for debate, but it does offer a full-fledged neobank experience with all the features users have come to expect from this type of platform: free P2P transfers, instant payments, and more.

Easypaisa supports money transfers to bank accounts or popular Pakistani mobile wallets like JazzCash and SadaPay. You can also send money through Raast or remittances to foreign bank accounts, and use your account to pay for purchases by scanning a viable QR code on the app.

Mobile data top-ups and utility bill payments are another nice addition to Easypaisa's package of features. This digital bank partners with four major mobile providers in Pakistan (Jazz, Telenor, Ufone, and Zong), offering several types of mobile data packages, as well as an option to order one now and pay it off later.

With Easypaisa, you can pay for your electricity, gas, water, telephone, or internet bills, as well as your credit card balance. Paying 6-10 bills per month costs PKR 5, and double that for paying 10+ bills per month. Simply go to the app, click [Bill Payments], select the bill you want to pay and your provider, and fill in the payment details.

Just like traditional banks, an Easypaisa account comes with a debit card (though you'll have to pay a shipping fee of PKR 500-1,000). You can choose between a Visa, Visa Online, PayPak, or Union Pay International (UPI) card and order it on the app or by calling the customer service. Cash withdrawals from Easypaisa's ATMs are free.

Bank Alfalah is a major private bank in Pakistan. Based in Karachi, it has more than 890 branches in 200+ cities across the country, as well as international branches in Afghanistan, Bangladesh, Bahrain, and the UAE. It features personal, business, premier, and Islamic banking.

If you're looking for maximum versatility, Bank Alfalah's selection is hard to beat. It offers a whopping 13 types of current accounts. Whether you need a foreign currency account, one dedicated to freelancers, a remittance account, or just your basic, garden-variety account for everyday banking needs, you'll definitely find something that fits your use case.

For most private users, the PKR Current Account has proved to be the number one choice. It offers unlimited transactions, a free cheque book, zero-fee internal transfers, Orbit reward points, and access to lockers for safely storing your belongings. The only downside is fees: it costs PKR 1,000 to open an account, and the minimum monthly balance is PKR 25,000.

Bank Alfalah is potentially the best bank for a savings account in Pakistan, with 17 account options to choose from. Bank Alfalah Savings Account is the most basic one, yielding a profit based on your monthly average balance, paid semi-annually. As of writing this, the indicative profit rate is 9%. In addition, it includes many of the same perks as the equivalent current account, such as access to lockers and free internal transfers.

This provider's Islamic banking options are nearly as extensive. The Islamic Mahana Amdani Account is based on a tiered profit system according to the Mudaraba model. The profit is calculated from your average monthly balance and paid out on a monthly basis. You'll also find several types of loans, including a Musharakah-based loan for home purchase (with a flexible tenure of up to 25 years).

Founded in 1994, this Karachi-based bank has hundreds of branches and ATMs throughout Pakistan. It offers conventional banking alongside Islamic banking services, various wealth management features, and a decent digital banking platform. As a side note, Faysal Bank is also the first one on this list of the top 10 best banks in Pakistan to offer a digital card dealership.

Its basic Islamic current account has no minimum balance requirement and comes with a PayPak debit card (free for the first year), a free cheque book, and unlimited transactions. It's available in PKR, USD, EUR, GBP, or CNY. It's based on the Qard principle: the bank is obliged to repay the account owner's money on demand.

Faysal Bank has several types of Roshan digital accounts for Pakistanis living abroad. Some of them support additional currencies, including SAR, AED, and CAD, and offer the option of opening a joint account. However, a debit card is only available for the PKR-denominated Roshan accounts, and the only deposit method they accept is foreign remittances.

In addition, you'll find life, health, property, car, and travel insurance plans and priority banking features. Priority account holders get a World or Platinum debit card with higher transaction limits and can take advantage of discounts in more than 300 stores nationwide. On top of that, priority clients get access to Faysal's exclusive lounges in Karachi, Lahore, Islamabad, Faisalabad, and Multan.

Faysal Bank's digital banking features include the same standard set shared by many other candidates on this list: a mobile app, Raast payments, and a WhatsApp banking suite (which can more or less replace the Faysal mobile app). It also offers a virtual card and Faysal Pay, a contactless payment service you can access from the mobile app. However, it's only available on Android phones with NFC technology.

While Standard Chartered is headquartered in the United Kingdom and has branches in 45+ countries and regions, it's still one of the top banks in Pakistan for both personal and Islamic banking. It provides a wide range of account types and additional services like insurance and loans.

If you're looking for a simple current account to cover everyday spending needs, the SC digital account is one of the best products in this bank's lineup. It requires no initial deposit or minimum balance and includes a debit or credit card, which can be activated online or on the mobile app. This account comes in two variants: conventional or Islamic, depending on your preference.

Standard Chartered's High-Yield Savings Account trumps many of the alternatives in competing banks with an attractive 9.5% APR. The minimum initial deposit is PKR 500,000 (which is also the minimum required balance). You can try out the interest calculator on the bank's website to check how much you'd earn annually from your estimated average daily balance. The profits are paid on a monthly basis.

This bank offers a versatile range of cards - from your standard, entry-level debit card, best suited for payments and ATM withdrawals, to World and Platinum credit cards if you'd rather pay extra to get in on cashback rewards, store discounts, access to luxury lounges, and other premium perks. There's also a Sharia-compliant Platinum debit card, based on the Commodity Murabaha profit model.

Standard Chartered also sells regular and premium insurance for general needs (covering damage, theft, natural disasters, unauthorised transactions, and other emergencies), collective investment schemes, and both conventional and Islamic-style loans. However, its digital services are a bit limited: there's a fully-featured mobile app but no WhatsApp banking or instant payment options.

As the largest state-owned bank in the country, the National Bank of Pakistan is a reliable starting point if you're looking for an old-school traditional bank. It has branches even in rural areas across the country and one of the largest ATM networks, so if anything else, accessibility shouldn't be a problem.

Its Asaan account doesn't require a minimum balance or any opening fees, except for the initial deposit of PKR 100. You can choose between a single or joint account, although the only available currency is PKR. Unlike the equivalent accounts in most other banks on this list, it imposes a transaction limit: you can only spend up to PKR 1 million per month. This account comes with an EMV debit card, but no cheque book.

Those in the market for a savings account might want to consider NBP's Premium Saver Account. It offers an annual interest rate of up to 5% (on an account balance between PKR 20,000 – 1 million), with profits paid on a biannual basis. This account allows 2 withdrawals per month.

In addition to conventional banking, NBP also includes several types of Islamic accounts, among which are a PKR current account, a foreign currency account (available in USD, GBP, or EUR), a Mudharaba-based savings account, an account for seniors, and more. You'll also find Sharia-compatible financing options and a digital banking platform.

Speaking of digital, the National Bank of Pakistan does fall short when it comes to online and mobile banking. Both its website and the mobile app look noticeably outdated next to most competitors, and you won't find any bonus features like WhatsApp banking.