Allied Freelancer Freedom

Product Features & Benefits

• Free issuance of UPI & PayPak Classic Debit Card

• No minimum balance requirement

• Quick and hassle-free account opening

• Free online branch transactions (for current account)

• Free access to e-statement, myABL Mobile App, and WhatsApp Banking

• Smooth inward foreign remittance

• Available in both Current and Savings variants

• Profit payout (bi-annual) for savings accounts

• Visa Debit Cards available (charges apply as per SOC)

• Linked Foreign Currency Retention Account available

• Account conversion not allowed

• ABL Website

• myABL Mobile App

• Any Allied Bank Branch

Allied Bank also offers a linked Foreign Currency (FCY) Retention Account to support freelancers and IT exporters. You can retain up to 50% of your foreign earnings in USD and make international business payments.

• Pakistani nationals & entities providing digital/IT/ITeS services

• Freelancers registered with PSEB or P@SHA

• IT companies & service exporters receiving payments from abroad

• Individuals (including minors) with a valid CNIC

• Pakistan residents offering services through online portals or platforms

• Freelancers and digital service providers, including IT & ITeS professionals

Q1. How can I open an Allied Freelancer Account?

You can open the account by visiting an ABL branch or via the ABL Website or myABL Mobile App.

Q2. Can I open a Freelancer account in foreign currency?

No, but you’ll receive a linked Foreign Currency (FCY) Retention Account (ESFCA) for holding up to 50% of your earnings in foreign currency.

Q3. What exchange rate is applied on foreign remittance?

Rates are declared by the bank daily for FCY to PKR conversion.

Q4. Can I deposit cash into my Freelancer account?

No. This account is funded only via foreign remittances.

Q5. What proof of income is required?

• Written self-declaration

• Website/platform used

• Nature and scope of freelance work

• Client correspondence or agreement

• Sales Tax NTN Certificate (if available)

Q6. What is Exporters’ Special Foreign Currency Account (ESFCA)?

It is a linked FCY retention account that allows you to retain up to 50% of export proceeds and make payments abroad.

Q7. Who is eligible for an FCY Freelancer/IT Exporter account?

Freelancers/IT exporters registered with PSEB or P@SHA, involved in IT/ITeS exports.

Q8. Is there a transaction or balance limit?

No limit on PKR account. For ESFCA, you can retain USD 5,000/month or 50% of export proceeds, whichever is higher.

• Click here to view KFS