Do you send money to Pakistan in your bank account? The Roshan Digital Account is introduced recently in the industry of banking corporations. The major advantage of the Roshan Digital Account is to accommodate Non-Resident Pakistanis and Resident Pakistanis with foreign declared assets. People can send money to Roshan Digital account with convenience. The following blog will help you understand the factors regarding how to send money to Roshan Digital Account.
What is Roshan Digital Account?
For all NRPs (Non-Resident Pakistanis), Roshan Digital Account (RDA) is an all-in-one solution. The RDA can be opened through an easy registration procedure. All you need is to register via an online application or website from the banking network of your choice. The Roshan Digital Account entertains Non-Resident Pakistanis and Pakistani Residents with Foreign declared assets. An individual having access to Roshan Digital Account can simply send money to Pakistan. Also, it is simple to pay bills and invest in various fields. Additional offered services include money transfer to Pakistan, real estate investment, and property management.
How to Open a Roshan Digital Account?
Around an approximate figure of 9 million Pakistanis are residing in different foreign countries. The individuals transfer money on a weekly, monthly, and annual basis. In most cases, due to restrictions on funds transfer from overseas, it was nearly impossible to manage the transfer of funds. But now, Roshan Digital Account welcomes all foreign money transfers with ease and comfort. All you need is an activated Roshan Digital Account in any Bank of Pakistan.
Go to the official site of any registered international bank in Pakistan.
Provide basic mandatory information required for the creation of the Roshan Digital Account.
An OTP will be received after the successful submission of the details. Verify the OTP confirmation, and complete the required information for account opening.
Select the type of Roshan Digital Account, i.e., Pakistani Rupee Account or Foreign Currency Account. All the transactions will be hosted from the account in the selected account category type. For FCY accounts, USD, EUR, GBP, AED, etc. currencies will be used. Whereas for PKR accounts, Pakistani Rupee will be used for a transaction, whether cash deposit, online money transfer to Pakistan, or any investment opportunities.
You will receive a confirmation email with an additional reference number. The account activation will be guided via email in approximately 2 business days. That’s it! And you are done with the process for Roshan Digital Account creation.
Send Money to Roshan Digital Account
If you already have a Roshan Digital Account, you can send a money transfer from international countries in simple and easy steps. The procedure for money transfer is swift, secure, and reliable. Follow these simple steps and get started with your money transfer to Roshan Digital Account.
- Add Beneficiary using IBAN provided at the time of registration
- Select Bank and Transfer Amount (Remittance Amount)
The amount will be credited into your account in the next 2-3 business working days. The remittance will be credited into Roshan Digital Account, no local deposits will be entertained for money transfers to RDA. You can use different money transfer services to transfer funds to your Roshan Digital Account. The funds can be later on used for money transfer to friends, families or to make qualitative investments.
Banking Corporations Promoting Roshan Digital Account
Roshan Digital Account is launched by the State Bank of Pakistan (SBP) in 2020. The SBP allowed various banking organizations to provide operational services for Roshan Digital Account. The list of banks includes:
- Habib Bank Limited (HBL)
- Allied Bank Limited (ABL)
- Muslim Commercial Bank (MCB)
- Bank AL Habib
- Bank of Punjab (BOP)
- National Bank of Pakistan (NBP)
Overseas Pakistanis can register online and then obtain access to RDA within few working days. Remittance transfer has never been much easier, but RDA has changed the perspective of international funds transfer. Now, you can send money to Pakistan online to your family, friends, and associate with the aid of the Roshan Digital Account.