UBL Ameen Freelancer Account

A dedicated product that offers lifestyle banking to Freelancers. The product offers a full range of personalized features to empower you financially and provide greater freedom, convenience and flexibility in your remote income earning journey.

UBL Ameen is pleased to introduce islamic Freelancer Account with minimum documentation for freelancers to facilitate this segment in getting their earning into formal bank account. This account not only facilitates in receiving their payments/salaries with ease but also offers exclusive benefits tagged with the account.

Account Category:

Choice to open Islamic banking freelancer account in current and/or saving category (PKR only)

UBL Ameen Freelancer Current Account
UBL Ameen Freelancer Saving Account

Shariah Basis:

UBL Ameen Freelancer Current accounts are based on the concept of “Qard”. However, UBL Ameen Freelancer Saving accounts are based on Shariah Compliant mode of “Mudarabah”, where the depositor is “Rab-ul-Maal” and Bank acts as “Mudarib”.

Customer Eligibility:

Exclusively for all individuals working as freelancers only.

Initial Deposit:

The account can be opened with minimum deposit of PKR 100. For Digital account opening no initial deposit is required.

Profit Payment:

The profit on Ameen Freelancer Saving Account is paid on monthly basis.

Benefits:

Simple account opening documentation
Free General Banking Services
Tax Facilitation
Discount on Co-Working Space
Free Takaful Coverage (Mobile, Laptop, Wallet & Health)
Discount on Auto Financing
Preferential Fx Rates
Availability of UBL Ameen Exporter Special Foreign Currency Account (ESFCA)

UBL Ameen Exporter Special Foreign Currency Account (ESFCA)

The bank also gives the opportunity to the freelancer account holders to subsequently open Ameen ESFCA (Exporter’s Special Foreign Currency Account), a Foreign currency account, whereby USD 5,000 (or equivalent FCY) per month or 50% of the freelancing remittance income, whichever is higher will be retained in foreign currency, The remaining amount shall be credited to customer’s UBL Ameen Freelancer PKR account.

*For ESFCA account opening, please visit your nearest UBL branch

Benefits:

Choice of Retention of funds in USD, GBP, EUR, AED and SAR
Expedited Turnaround time for account opening and remittances
75% withholding tax relief upon registration with PSEB and P@SHA
Foreign Currency Debit Card (UBL Ameen VISA FCY Business Debit Card)
Access to foreign currency funds at any point in time
Minor can open an account along with the guardian
Preferential Rates of Conversion from FCY to PKR

Utilize your foreign currency funds for following transactions:

Make personal or work-related payments in FCY through outward remittances
Make payments with respect to capital and financial transactions, such as equity investment abroad and other foreign currency payment, as per prevailing regulatory guidelines.
Convert the funds in your PKR account and enjoy all permissible transactions locally
FCY Cash withdrawal outside Pakistan
Transfer of funds to and from customer’s other Exporter’s Special Foreign Currency account maintained with other Authorized dealer

Note: Foreign currency cash withdrawal is not allowed within Pakistan The funds cannot be transferred to any FCY/ FE 25 accounts

Simple account opening documentation

Customer can be on boarded through branch/Tablet (Islamic Banking Branches or Islamic Banking Windows) and digitally through UBL website/App. Branches will ask atleast following documents from customer for opening freelancer account:

Copy of original CNIC/ NICOP/ POC/ (For minor B-Form / Juvenile Card)
Export Agreement/ Undertaking as a freelancer

Free General Banking Services

Cheque Book
Ameen Freelancer Debit Card (Issuance & Annual Charges)
Cashier’s Cheque (Issuance/Cancellation/Duplicate)
Free Inter Branch Online Transactions – Country Wide
Fund Transfer (IBFT) to Other Bank through ATM, Netbanking and Digital Application
Cash withdrawals from ATMs of other Bank (ATM off Us Transactions)
E-PRC (Proceed Realization Certificate)
SMS Alerts (Branch Banking & Digital)
Free ATM off Us Transactions

Tax Facilitation:

The accountholder is eligible to get online tax facilitation and advisory services from Befiler (Pvt) Ltd on discounted rates for “Registration with FBR/SRB” and “Filing of Annual Income Tax Return” and “Monthly Sales Tax Return”.

Befiler will ensure:

Review of tax return by professional tax consultants before filing
Free live chat and on-call support during the process of filing
Complete and Accurate Filing
Post-filing support in case of any notice for audit by Federal / Provincial Tax Authorities

Tax Registration & Filling Charges:

Befiler will charge Consultancy Fee for the service provided.

SN	Service	Description	Fee (Rs.)
1	One-time fee for Registration with FBR and SRB	For Everyone	3,000
2	Monthly Sales Tax Filing (Per Return)	Freelancers with only foreign source income Freelancers with local income	1,000 1,500
3	Annual Income Tax Return (Per Return)	Freelancers with only foreign source income - turnover not exceeding 5 million Freelancers with local income / turnover exceeding Rs. 5 million	2,000 3,000

Payment of Consultancy Fee:

Customer will pay consultancy fee directly to the Befiler. The fee will be deposited in Befiler’s Bank account with UBL:

For Contact:

Designated Helpline: (021) 38892069
Email: info@befiler.com
Website: www.befiler.com

Discount on Co-Working Space:

The bank has collaborated with Co-working space providers, “Kick Start Co working” and “The Hive” , which provides hassle-free and cost-effective workspace solutions. The freelancer accountholder is eligible to get discounts on Co-working space and serviced Offices in Karachi, Lahore & Islamabad.

Kickstart Discounted Pricing:

Contact Kickstart:

Phone: +92-333-0596162 (Call Timing: Mon-Sat 9:00 AM - 6:00 PM)
Email: solutions@kickstart.pk
Websitee: https://kickstart.pk/

The Hive Discount on Pricing:

UBL Ameen Freelancer Accountholders can avail 10% discount on shared services only such as follows:

Hot Desk
Event Hall
Fixed Desk
Boardroom

Contact Hive:

Phone: +92-51-8302736
Email: info@thehive.pk
Websitee: https://kickstart.pk/

Free Takaful Coverage (Mobile, Laptop, Wallet & Health):

Ameen Freelancer Account secures basic freelancing gadgets like Mobile & Laptop with theft risk and covers loss of Wallet and accidental hospitalization of accountholder on maintaining monthly average balance of Rs. 250,000 and above in freelancer account. The free takaful coverage is provided by UBL Insurers Limited-Window Takaful Operator. No contribution is required to be paid by accountholder. The coverages and takaful limits are as follows:

Coverage Types	Coverage Amount
i. Mobile Theft Takaful Coverage in case of lost or damaged by fire accident, violent theft, armed holdup robbery and earthquake, anywhere in Pakistan.	Rs. 50,000
ii. Laptop Theft Takaful Coverage in case of lost or damaged by fire accident, violent theft, armed holdup robbery and earthquake, anywhere in Pakistan.	Rs. 100,000
iii. Wallet Takaful Coverage loss of documents i.e. CNIC, Driving Licenses, Passport etc. across Pakistan. The amount will be paid at actual cost of reproduction.	Rs. 5,000
iv. Accidental Hospital Takaful Coverage in case of hospitalization due to accident	Rs. 150,000

Claim Process:

UBL Insurers Limited – Window Takaful Operations

UAN: 111-845-111
Email: info@ublinsurers.com
Address: UBL Insurers limited-WTO, 126-C, Jami Commercial Street No. 14, Phase-VII, DHA, Karachi, Pakistan.

Exclusions:

Mobile & Laptop Takaful Coverage

Wear and tear of the set(s) components which includes the normal Deterioration due to use.
Shearing of antenna and Battery leakage.
Loss or damage arising from wear and tear, gradual deterioration, depreciation, moth, vermin, any process of cleaning or restoring or action of light and negligence, mishandling of the participant.
Loss or damage arising from Atmospheric and Climatic Conditions other than lightning.
Breakage of tortoiseshell glass or other brittle substance not due to fire or thieves.
Battery, spare battery clip, battery chargers, Adopters, Electrical Electronics part(s) component(s) of the cellular set(s) are not covered for loss or damage arising as a result of breakdown blow up due to voltage surge and or part failure.
Any consequence of war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, mutiny, revolution, insurrection, military or usurped power.
Loss or damage from detention, confiscation, destruction or requisition by Custom House or other Officials or Authorities.
Loss of mobile telephone I Pager while left unattended in a parked car or public place.

Wallet Takaful Coverage

Strike, Riots and Civil Commotion or Terrorism, Fraud, Dishonesty of Employees whether Permanent or Contractual..

Accidental Hospital Takaful Coverage

Provided always that:

Injury takes place within twelve calendar months of the occurrence of the injury.
Compensation shall not be payable under more than one of the items of the Schedule of compensation in respect of consequences of the same accident (except of any compensation payable hereunder in respect of temporary partial disablement preceding or following temporary total disablement).
No weekly compensation shall become payable until total amount thereof has been ascertained and agreed, if, nevertheless payment be made for weekly compensation the amount so paid shall be deducted from any lump sum becoming claimable in respect of the same accident..
The total sum payable under this Policy in-respect of any one or more claims shall not exceed in all, in any one period of Takaful, the Sum Covered.

Terms & Condition:

Customers with dormant accounts (Inactive for 12 months) are not eligible for takaful coverage
Accounts monthly average balances less then Rs. 250,000/- are not covered in this policy
Claim reported after 90 days of the occurrence of the incident will be excluded.
The policy is non-transferable and non-saleable.
Closure of the account, where the reason is other than the death of the account holder, will result in automatic cancellation of the policy cover.
Policy coverage shall come into effect immediately at the time of account opening by the customer as per eligibility.
The customer or nominated beneficiary will submit further documents if demanded/required by Takaful Company.
In case of joint account, the primary accountholder is eligible for claims and benefits.
In case of hospitalization, UBL Insurers Limited-WTO will reimburse the coverage amount to customers if he/she is inpatient within the hospital for at least 24 consecutive hours under the continuous attendance of a Physician.
The mentioned coverage limits are per annum.

Discount on Auto Financing:

Accountholder maintaining PKR 250,000 & above monthly average balance in previous month will be rewarded with discount on rental in subsequent month subject to regular monthly instalment deduction, which will be reimbursed to customer accordingly. The discount rate is subject to change as per the market condition.

Disclaimer:

The Bank shall not be liable for any action or lack therefore on the part of the third party. The customer hereby indemnifies and holds harmless the Bank against any loss, liability or damage arising from utilization of services of a third party whether if the same were referred to the customer by the Bank or not. The customer shall at all times exercise his good judgement and conduct their own due diligence prior to utilization any services recommended by the Bank or offered by a third party on behalf of the Bank.

Other Information:

All service charges will be levied as per prevailing UBL Ameen Schedule of Charges. Zakat & WHT will be applicable as per Government rules. Contact your nearest UBL Ameen Islamic Banking branch or Islamic Window in designated branches today for further details or call now: 111-825-888 (UAN).