UBL Tezraftaar Asaan Remittance Account

UBL Tezraftaar Asaan Remittance Account

With a view of promoting home remittances through legal channels and enhance the outreach of basic financial services to the unbanked segments, UBL has launched 'UBL Tezraftaar Asaan Remittance Account'.

This product offers home remittance beneficiaries the convenience to receive their payments directly into their account, further giving the edge to utilize received funds without any charges and taxes through ATM or using UBL Branch Counter anywhere in Pakistan.

Account Category:

UBL Tezraftaar Asaan Account can be opened as:

  • UBL Tezraftaar Asaan Remittance Current Account.
  • UBL Tezraftaar Asaan Remittance Saving Account.

Key Features:

  • Instant account opening and activation via biometric verification
  • Free SMS alert to the remitter and beneficiary at the time of account opening notifying the account number for sending future remittances to this account
  • Option to convert the existing Cash Over Counter payment in full or partial to the account at the me of account opening
  • No requirement for initial deposit, minimum balance, account opening and maintenance charges.
  • Free SMS alerts for beneficiaries when home remittance transaction lands in the account
  • Auto routing of Cash Over Counter transaction to the account if CNIC number is received in COC instructions
  • No Withholding Tax on cash withdrawals since the account will only be fed through home remittance from abroad. No other credit from any medium is allowed in this account.

Moreover, these accounts are operational nationwide with a restriction on cross border (outward transactions) and local deposits.

Transaction Limit:

Description Limits
Total Credit Limit (Any time) PKR 2,000,000
Cash Withdrawal Limit (Per day) PKR 50,000
Funds Transfer Limit (Per day) PKR 50,000

Eligibility Criteria:

All individuals who are beneficiary of Home Remittance can open this account in single or joint capacity. However, one (1) CNIC holder can open only one UBL Tezraftaar Asaan Remittance Account (single or jointly).

Source of Deposit:

The account will only be fed through Home Remittance only; commercial remittances shall not be allowed in this account.

Key Benefits:

  • No minimum balance requirement
  • Free Cheque Book
  • Free PayPak Debit Card
  • Bi-annual profit on UBL Tezraftaar Asaan Remittance Saving account
  • Inter Branch Online Transaction-Country wide
  • Issuance of Cashier Cheque
  • Over the Counter Cash Deposit
  • Cancellation of CC
  • Clean Bill for the Collection / Intercity Clearing
  • Duplicate Cashier's Cheque
  • Duplicate Account Statement
  • UBL Go Green Digital SMS Alerts

Visit your nearest UBL Branch with your original CNIC to open UBL Tezraftaar Asaan Remittance account through easy and hassle-free procedure.

You may also contact us on UBL Contact Center and Customer Care at 111-825-111.

All service charges will be levied as per bank’s Schedule of Bank Charges (SOC), Download here

To view FAQs, click here