nbp.com.pk Assan Account Opening Procedure : National Bank of Pakistan

Organisation : National Bank of Pakistan
Facility : NBP Assan Account Opening Procedure
Country : Pakistan

Website : https://www.nbp.com.pk/asaan/NBP-Asaan-Features.aspx

NBP Assan Account :

Product Type : Current, Savings Deposit
Product Currency : Pak Rupees

Related : Habib Bank Internet Banking Pakistan : www.statusin.org/2877.html

Eligibility :
** Individual – Single
** Individual – Joint (max. 1)

Product Feature :
** PLS Saving Accounts rate of profit applicable on Asaan Savings Account.
** Free Cheque Book on Customer Request (Initial / One time)
** Free ATM Card (subject to Annual renewal fee)
** Initial Deposit – Rs. 100/- only

** No Monthly Minimum Balance maintenance requirement.
** Bank Charges as per current tariff.
** No charges on closure of Account.
** Zakat and taxes, as per Law.
** SMS Alert Service (subject to subscription)

Account Opening :
** Simplified One Page Paper-based form
** Upon production of Valid Proof of Identity Document (Original)
** Identified source of fund (As per Declaration on AOF)

Statement of Account :
** As per current policy for PLS and Current accounts

Account Activation :
** Within 3 working days – After NADRA Verisys

Transactions Limit  :
** Total Debit per Month : Rs. 500,000
** Total Credit Balance Limit : Rs. 500,000

Restrictions :
** No cross border (outward) remittance transactions
** Personal Appearance for delivery of cheque book at Branch.
Basic Banking Accounts :
** Conversion into Asaan(Current) Account – upon concurrence of Customer

Frequently Asked Questions :
1. Can Non-residents and foreign nationals open Asaan account?
No, Asaan Account is for resident individuals only, others can open regular account.

2. Are outward remittances allowed in Asaan Account?
No, However international transactions through debit card shall be permitted within the applicable limit of Rs. 500,000.

3. Can bank demand more than Rs 100 for opening Asaan Account?
No. Asaan Account will be opened with minimum balance of Rs. 100. It depends on the person if he/she wants to deposit more than 100 in his/her account.

4. If a person has opened an Asaan Account with NBP, will he/ she be able to open a regular account?
No Asaan account holders will not be able to open a regular account and shall be able to do so only after converting their Asaan account into a regular account.

5. Can Asaan accounts be opened jointly?
Yes, however the number of participants will not exceed 2.

6. If a person has regular account with NBP, will he/ she be open Asaan Account?
No. Regular account holders will not be permitted to open an Asaan account as this product is designed for the unbanked segment of the society.

7. Can bank demand more than Rs 100 for opening Asaan Account?
No. Asaan Account will be opened with minimum balance of Rs. 100. It depends on the person if he/she wants to deposit more than 100 in his/her account.

8. If a person has opened an Asaan Account with NBP, will he/ she be able to open a regular account?
No Asaan account holders will not be able to open a regular account and shall be able to do so only after converting their Asaan account into a regular account.

9.Can Asaan accounts be opened jointly?
Yes, however the number of participants will not exceed 2.

10. Will the account be activated for debit transactions immediately after it is opened?
No, Account will be opened instantly however activation will be restricted for Debit transactions until NADRA Verification is completed.

11. Are there any free services available for Asaan account?
Yes, one time ATM card and a 25 leaf cheque book will be issued free of cost in addition to one free online transaction per month.

12. Will minors be able to open Asaan account?
Yes, In case of Minors the account will be opened against Form B and other appropriate documents along with documents of guardian and Bank will act on the instructions of the guardian unless contrary instructions have been received from the guardian or an appropriate authority.