How to Open Roshan Digital Account (RDA) Guide

You have come to right place if you want to know about how to open Roshan Digital Account (RDA). One of the recent yet major initiative of State Bank of Pakistan is their new product known as Roshan Digital Account (RDA) which is made possible in collaboration with Schedule banks operating in Pakistan. These accounts provide innovative banking solutions for millions of Non Resident Pakistanis (NRPs). No matter they opt for banking, payment and investment activities in Pakistan or they want to send remittances to Pakistan at ease. Roshan Digital Account can also be used to channel Remittances for further investments in securities via CDC, real estate investments, Naya Pakistan Certificates NPC, Government Issued Bonds and other legitimate purposes as allowed by the State Bank of Pakistan.

What makes RDA more special is the fact that this Account is Available in Both Foreign Currency and Pakistani Rupees. The customer can choose either a foreign currency or rupee-denominated account, or both. For NRPs, these accounts would be interoperable and enable real-time online conversion from foreign currency to Pakistani Rupees and vice versa.

SALIENT FEATURES

No minimum balance requirementCustomer can open a Foreign Currency Value Account (USD) or an NRP Rupee Value Account as defined in the chapter 6 & Chapter 8 of the Foreign Exchange Manual.Both these accounts are fully repatriable.Account can be fed by Foreign Inward Remittances originating from the account holder himself / herself through formal channels (only banks)Monthly account statements sent on registered email addressAccount to be opened by Non-Resident Pakistanis only.Account to be operated singlyAccounts are funded through foreign remittance only.Local credits allowed to the extent of proceeds received from permissible investments made from the accountAccount to be opened in 48 hours if everything is in order.Mobile Banking App and Debit Card Available

HOW TO APPLY

Fill Account Opening Form

Currently there are eight banks with whom you can open an account. Select any one that you feel more convenient. Go to the selected bank's website for filling account opening form digitally.

The necessary links are given below:

Choose Digital Account Type

Before you apply online, we recommend that first you should go through with the selected banks' eligibility criteria and account opening procedure by clicking "For More Details" links given above. Most of the banks will initiate their online application with Email registeration/verification through OTP. Or some banks may direct you to Choose the type of Digital Account – a Foreign Currency Account or a Pak Rupee Account.

Upload Documents

Once you have initiated your online account opening application, You will be required to upload scanned copies of following documents to open an account:

CNIC/ NICOP/ POC.Passport (Pakistani and/or foreign country).Proof of non-resident status.Proof of profession and source of income/ funds.For salaried individuals: job certificate/ salary slips.For business persons: tax return/ rent agreement/ any other proof of income.Some banks may ask other dociuments including Utility Bill/Tenancy Agreement/Any government issued document other than the identity document for address verification

Add Picture

You will be asked for a digital photo that would be taken at the time of filling the form and uploaded live.

Receive Confirmation

Selected banks representative may contact you via video call or any other medium for verification. You will get confirmation of account opening within 48 hours.

Transfer Funds

After account opening, you can transfer funds in the account through banking channels from the country of your residence.

Additional Resources

For more detailed information, visit the State Bank of Pakistan RDA Information Portal.