What's new

Should Pakistanis open bank accounts in Pakistani Banks?

AZADPAKISTAN2009

ELITE MEMBER
Joined
Sep 8, 2009
Messages
37,669
Reaction score
68
Country
Pakistan
Location
Canada
Considering people living abroad would it make sense for them to use Pakistani Bank that help Pakistani economies ?

Considering we use banking for various mattere

Car Insurance
Home Insurance (10,000 for 10 -15 years)
Children education funds (10,000)
Medical Insurance (10,000-20,000 per 40 years)
Mortgages (400,000 per family )
Student loans (50,000-80,000 per graduate child)

I think the time is right for Pakistani Nationals to open bank accounts in Pakistani Bank branches overseas

:coffee:

Because I calculated on average in 10-15years a Pakistani family invest 300,000 into forigne banks (non pakistani) thru various means


Wanted to know how the other public feels about it ...

Instead of stupid rallies or aid from forigne countries ???


One of the major things I notice is I can find Bank of Hong Kong there is not a single Pakistani Bank Branch , even if my checking account is local bank it makes complete sense to move Mortgages and large items with Pakistani banks to help them eocnomically

Sure we will be asked the same none sense questions for "Security" but you know what at least my funds will be going to my own country
 
Last edited:
.
The time is also right for us the ones living aboard to get robbed? lolz ... plzz bro that is a very bad idea what is the sense of opeing a account in Pakistani bank . Most Pakistani's that live aboard like my self use american ,british banks that can not rob our money . Plus the easiest way for us to send money back home if not using a bank is western union nothing beats it plus no drama nor any one gets robbed sorry bro bad idea times are hard the last thing one needs is to get there hard earned money stolen.
 
.
***All Pakistani Banks are regulated overseas

I am thinking of starting to move my small accounts over to Pakistani banks I rather pay Pakistani banks that send in benefits to Pakistan

What is the point of investing in British / US banks , and go thru their 'process' like reseting your pins come to bank branch and reset passwords none sense and 1$ per transaction fees

You know what ... you want to mess with me I will mess back and move my accounts over with Pakistani banks

Tit for tat ...and I am sure most of small items are 100% safe

Like

Car insurance
Home insurance
Children education funds
Small saving accounts
May be home mortage

Sure even if I get charged 1-2 dollar more here and there but all western banks do same shiat in service charges here and there and interest charges on credit cards etc
Robbing done legally


From my knowledge no Pakistan Bank has faced crisis as bad as some banks in US/Europe ...

Plus I am GETTING sick of going to western banks and their PROCESS to send funds to Pakistan I rather deal with local Pakistani Banks

If I send in 100$ it would be great knowing 5$ from that went to Pakistan

If I paid 1000 $ mortage , you know what great 20-30$ went to Pakistani corporation


All these western banks are scared shiat so they are introducing , Islamic banking lol ...
They know how much $$ will be lost revenue wise

I think our community should - start thinking seriously on Banking with Pakistani Banks
 
Last edited:
.
Good approach and idea! completely agree!
our banks will need to start a project / campaign where they have similar offerings to what we use overseas. Internationally linked ATMs, foreign currency accounts etc.
 
.
its kinda hard to say, because the way our economy going Its hard to put money in Pakistani bank nice idea though.
 
.
Our economy has nothing to do with our banks ... we control who we choose who we do our banking with ... its with in our own hands...

I think the only think worth keeping in Forigne banks is just may be a chequing account for basic groceries or some saving account etc

But I am sure 80% of services can be moved over because once you sign up on paper with bank you get your mail and then you simply work with your account managers.

With my estimates if all Pakistani world wide open at least 1 Bank account with Pakistani Bank , and do the banking thru it I am positive we will send in 10 Billion dollar - 20 billion in revenue of pure profit
And the banks could reinvest that back in Pakistan's agricultural sector or stimulating economies locally thru loan inititives

I looked at our Banking Sector and Pakistani Bank have remined open for quite long time ..

Also there has been a mini revolution in Banking in Pakistan , you might know but you can do online banking and other things......

Infact one of the Pakistani Banks was the leading research in developing secure JAVA based software for banking they actually were rewarded for that innovation

http://www.hmb.com.pk/

Security
http://www.habibbank.com/common/articles/article41.html

Award 2005
http://www.zawya.com/story.cfm/sidZ...ent from Computerworld Honors Collection 2005
 
Last edited:
.
Azad it is a nice & nobal idea but boss you can not trust these banks plus the Pakistani economy is dead .. plus you dont know how and will it benfit Pakistan comon man plzz open your eyes bahi its a very risky task i can tell you now forsure alot of people won't do it. You know because of this madness back home we Pakistani's avoid Pakistani banks afraid of loosing our money or be short of it when it reaches or loved ones in need simply # 1 way of sending money back home for way to many Pakistani's aboard is western union those days of sending money through Pakistani banks has been long over yet i do like you idea since you have the right vision but its not safe right now dont mind.
 
Last edited:
.
This has to be individual decision. Perhaps GOP can hike interest rates so that people can save money. However that may not help as markets need free flow of money to thrive.
 
.
Azad it is a nice & nobal idea but boss you can not trust these banks plus the Pakistani economy is dead .. plus you dont know how and will it benfit Pakistan comon man plzz open your eyes bahi its a very risky task i can tell you now forsure alot of people won't do it. You because of this madness back home we Pakistani's avoid Pakistani banks afraid of loosing our money or be short of it when it reaches or loved ones in need simply # 1 way of sending money back home for way to many Pakistani's aboard is western union those days of sending money through Pakistani banks has been long over yet i do like you idea since you have the right vision but its not safe right now dont mind.


Yar 25$ to send cash to Pakistan ? where is this 25 $ dollar going ?? Its lost revenue to Pakistan ... per transaction ...;)


Most online transaction companies like paypal or similar charge 0.77 cents per transaction , and they rack up billion in revenue ?? why ??? It adds up ... imagine what difference would be made if all Pakistani moved their bankings to Pakistani Banks!!!

We are talking BILLIONS !!! I mean billions forget tourism ... focus on banking sector
growth in forigne market

The name of game is deception - to fool out 100-300 million population living in Europe/ US to only use local banks ... what for ??? We have right to Choose!!
Its my god given birth right to use a bank that has a Pakistani flag


When 100 million Pakistans use banks that send service charges to Pakistan directly it all add ups , we use banks like 30 times in month ... that is 15-20$ in service charges

Its not about Pakistan economy is doing badly or good , its about do you want your services charges to be going to Pakistani Corporation
each time you bank ... or not ....

IMF can .. go to ... :devil: corner

Also remember under the court of law you can sue any bank if they do hanky panky in west ...

I think Pakistani Banks are doing well we just need to put faith in them

Banks are not ran by politicians they are run by hard working white collar class in Pakistan , and all regulation of banks are pretty solid

They won't even be allowed to open a bank branch overseas if they did not met quality standard level in world....

Even in most economical sense - I think its 100% safe to move low risk business to Pakistani Bank ...

Most Pakistani banks have branches in major cities as well .. so its not a major issue

Just becasue its from Pakistan does not means automatically that all the stereo types are associated with it , remember 80% of Pakistanis who reach CEO level position in forigne banks origionally started in Pakistani banking systems and got promoted etc


No need for any protest
No need for any disorder

Google Pakistan Bank branch , meet account rep learn more and move some services over and feel good and happily use your card :P with big smile
 
Last edited:
.
it has to do every thing with economy sir, look what happend in USA economy went down how many banck close since then.The cost of living is extreamly high, I just talk to my mom in Pakistani karachi and she told me that meat is about Rs. 420/kilo :woot: and electric bill is not less then 12-13 k a month. What I just don't undersant is how local people is surving in this kind a enviroment man? this is extream level of mahngaai meray bhai.

Even people living in USA going to Pakistan for vaction need to think twice to buy anything. I know I got of topic here but OH MY GOD WEHER ARE WE GOING HERE. God help us all!!!!
 
.
I think it's a good idea. :cheers:

Banks are making so much money off us, we might as well make sure the money we pay goes back to help our countries. Why not?

I always put my money in HSBC (Hong Kong and Shanhai Banking Co)... but they moved their headquarters to the UK lol... oh well. :rofl:
 
.
it has to do every thing with economy sir, look what happend in USA economy went down how many banck close since then.The cost of living is extreamly high, I just talk to my mom in Pakistani karachi and she told me that meat is about Rs. 420/kilo :woot: and electric bill is not less then 12-13 k a month. What I just don't undersant is how local people is surving in this kind a enviroment man? this is extream level of mahngaai meray bhai.

Even people living in USA going to Pakistan for vaction need to think twice to buy anything. I know I got of topic here but OH MY GOD WEHER ARE WE GOING HERE. God help us all!!!!

I think we all control our own financial output and if we put it to good use it will benefit our country ...even if its 1 dollar / transaction

How many times you use your bank card daily .. etc why not benefit a bank that is associated with Pakistan

Also a point to note is that alot of banks are 'regulated heavily' consumers are fully protected

And we have never seen any problem in Pakistani Banking sector

But we see banks in US closing down BIG time ... Citigroup took billions in aid money !!! But Pakistanis are putting cash in Citigroup , its run by Indian guy ....

BANKRUPT BANK running on bank bail out ??? Do we trust it ???

The point I am raising is ......

Even a setup where if Bank charges 0.55 cents per transcation you do, Banks make billions when all charges are added for 200-300 million users.

The irony is that we have numerical power Pakistanis , but we can't translate that into a financial advantage why ??? Because we are always squandring the financial advantage not investing our funds in corporations that benefit Pakistan.

May be ppl should seriously promote this idea in public gathering and raise awareness , sure you get abused in airports or in banks fine

You move your funds and services 80-90% over to Pakistani banks

Your funds are staying in your country of residence but , the daily or weekly transactions benefit your home country simple principle



You---> Use Pakistani Banks --->Bank charges fee -->Goes Pakistan

(Your money stays with you but transaction fee adds up )

Other option

You ->Use local Bank-> You get thrown like rag doll-->0$ to Pakistan



Simple Calculation :

1 City has 300,000 Pakistanis

300,000 give on average 10$ in bank fees per month

$3 Million dollars / month !!! For Pakistan in Transaction fees


Now imagine if you moved your car insurance which you pay banks $200????


300,000 x $200 = 60 Million dollar / Month !!!

Wasn't it 65 million dollars we paid for OHP frigate ???

Its not hard ...

I only showed your normal banking usage , just your groceries and car insurance ...but there are more services ... even mortgages ...

I think I made my point with morgages banks make
200,000 USD / family ....

I think you can get idea of how much money we are losing out ...

The 1 dollar or 5 dollar mosque donation do squat ... you wana make differnce ... start to promote Pakistani Banks ...



Potential !!!! of REVOLUTION

Right now may be 0.01% use pakistani banks .... imagine the potential UNTAPPED

Our numeric strength is our oil boom

We all know Pakistani figures are higher in real life

Saudi Arabia 1,100,000
United Kingdom 1,000,000
United Arab Emirates 880,000
United States 700,000
Canada 300,000
Kuwait 100,000
Oman 85,000
Qatar 52,000
France 50,000
Italy 46,085
Bahrain 45,500
Greece 45,000
Spain 42,100
Netherlands 40,000
Germany 35,080
Norway 30,161
Libya 30,000
Australia 20,000
Denmark 19,250
Ireland 12,500
Japan 12,000
Hong Kong 11,000
Iran 11,500

A simple conciousness in our mind ... can bring the change.. a simple idea

Most have

a) Daily tansaction charges for ATM machines, groceries etc
b) Most send money to Pakistan $25 wasted on Western Union
c) Most Have car insurance $100-$200/month
d) Most have health insurance $300-400 monthly or less or more
e) Most have mortages $1,000/month or more or less , $800 going interest to Bank
g) Most have car loans 100-300/month payments
h) Student loans ??? 300-400$month guarenteed income
i) Pakistani business man with busineses , paying business fees 100-500$/month
j) What if you bought you next flight to Pakistan on Pakistani Bank Credit card??
and lets add a green flag on that credit card !!



When you add the numbers above muliply that with all the services , you will get a
BIG FAT NUMBER that could go thru Pakistani Banks into Pakistani economy ...

At least 200-300 Billion dollar , by simple change in habbits ....

Raise awareness talk to local Pakistani Banks spend a day with the managers and learn how they operate

Right now 99% of funds Pakistani make never reaches Pakistani economies
 
Last edited:
.
If pakistani banks offered half decenyt services, then every pakistani would transfer his/her account into them.I live in London.There are a couple of Pakistani Banks in L0ondon.None of them to my knowledge offer a service whereby i can withdraw cash from any other bankTill machine.Do you think I wnat to travel to central London everytime i need money?
The services which banks need to offer are
Ability to withdraw cash from a host of bank till machines.
The ability to deposit/withdraw cash from any branch.
Electronic banking where you can have facilities that most modern banks offer.
Fast track, low priced transfer of cash to international branches.
Ability to handle direct debits
Till these facilites are vailable no one will transfer money anywhere close to a pakistani bank
lastly pakistani banks should go out of their way to advertise the facilities they provide.
Araz
 
.
Azad it is a nice & nobal idea but boss you can not trust these banks plus the Pakistani economy is dead .. plus you dont know how and will it benfit Pakistan comon man plzz open your eyes bahi its a very risky task i can tell you now forsure alot of people won't do it. You know because of this madness back home we Pakistani's avoid Pakistani banks afraid of loosing our money or be short of it when it reaches or loved ones in need simply # 1 way of sending money back home for way to many Pakistani's aboard is western union those days of sending money through Pakistani banks has been long over yet i do like you idea since you have the right vision but its not safe right now dont mind.

The government policies of respective countries ensure that money of people is not lost not to country of origin and Central/Federal banks of host country dictate the banking polices to ensure it. Economy of Pakistan can effect corporation but surely it will not effect your money - maximum this bank will be acquired by other and host countries govt. take care of your money in these acquisitions/mergers through their laws and more over all banks are insured and all these insurance companies are further insured by American companies and i hope you know the name - so, in the worst case US govt. have to bail out the top insurance company and the day US can't do it will be the last day of Super Power and your $ will worth a toilet paper :lol:, So - If you believe western government are doing their job well than you don't have to worry about your bank. We must promote our banks and if you are still scared than there are lot of western banks having branches in Pakistan, next time when you go there open one foreign currency and one PKR account in a bank which is available in your country of residence as well i.e. Citi, Standard Charter, HSBC, Barkley etc. You can link your bank account with account in Pakistan and use internet banking. So, Transfer money which is not needed in to your Pakistani foreign currency account and transfer back if needed - You can transfer any time from your foreign currency account to PKR account at central bank rate and then transfer to almost any bank account within Pakistan as per need. Most of the banks have internet banking, so you can do everything from your computer. I have Standard Charted accounts and doing same, only when i transfer money to/from Pakistani account than there are charges, within Pakistan there is no charges. When we send money through western union, we pay charges plus in Pakistan when they give PKR the rate they apply is less than CBR. So, In this way you will be having your trust as well, Your savings will remain in foreign currency so will not be depreciated and your contribution will be more.
 
.

Latest posts

Pakistan Defence Latest Posts

Pakistan Affairs Latest Posts

Back
Top Bottom