Best bank accounts for freelancers in South Asia

Freelancing for overseas clients? See how leading bank accounts across South Asia compare on foreign currency support, international payments and fees

Key takeaways

• Banks in Pakistan and Bangladesh offer different ways to manage freelancer income, including foreign currency accounts and international cards
• MTB, MDB and Meezan Bank allow eligible freelancers to keep part of their foreign currency earnings in multiple currencies instead of converting them immediately
• Standard Chartered and BRAC Bank combine international payment support with everyday banking features
• The World Account can work alongside a bank account as it offers multi-currency balances, global payments options and the World Card for business spending

Many freelancers receive payments from overseas clients into a local bank account, where the funds may be converted into local currency on receipt. If they later make international card payments or transfers in foreign currencies, they have to convert currencies again.

Whether a business bank account converts, retains or supports spending in foreign currencies varies between providers. This guide compares freelancer bank accounts in South Asia across their foreign currency features, international payment support and fees and how they can be used along with a multi-currency account such as the World Account.

Best bank accounts for freelancers in South Asia

1. Mutual Trust Bank (MTB) ERQ account

The Mutual Trust Bank (MTB) ERQ account can be used by Bangladeshi freelancers to receive regular payments from overseas clients.¹ Instead of converting every incoming payment into BDT, the account allows users to retain 30%-35% of export earnings in foreign currency, with the remaining amount credited to a linked BDT account.¹ The bank does not publicly specify which foreign currencies are supported for the ERQ account. Plus, the account also includes an international prepaid card at no cost during the first year for eligible overseas business spending.¹

Pricing: Zero opening balance requirement¹

*Fees checked in July 2026

2. Meezan bank freelancer account

The Meezan freelancer account is a personal current or savings account for freelancers in Pakistan who receive payments from overseas clients.² Both accounts are available to freelancers in Pakistan.

Freelancers can also open an Exporter’s Special Foreign Currency Account (ESFCA) to retain earnings in USD, GBP and EUR (up to USD 5,000 per month or 50% of monthly freelancing income, whichever is higher) and access a foreign currency debit card.²

Pricing: No initial deposit required²

*Fees checked in July 2026

3. Standard Chartered freelancer account

The Standard Chartered freelancer account can be used by freelancers in Bangladesh who receive payments from overseas clients.³ Under Bangladesh Bank regulations, 35% of funds are credited to a USD account, while the remaining 65% is deposited into a linked BDT account.³ The account can be opened digitally with no minimum balance requirement and includes online banking and an FCY debit card for international spending.³

Pricing: Zero minimum balance, account maintenance and international debit card fee³

*Fees checked in July 2026

4. BRAC bank freelance matrix savings account

The BRAC bank freelance matrix savings account allows users to receive funds in both USD and BDT, with foreign currency converted at the bank’s applicable exchange rate when required.⁴ The account also functions as a standard savings account by offering interest on deposits, internet and mobile banking, VISA debit card access and optional cheque books.⁴

Pricing: Zero account maintenance fee and debit card also available at no cost for the first year⁴

*Fees checked in July 2026

5. MDB Freelancer ERQ Account

The MDB freelancer ERQ account is available to eligible Bangladeshi freelancers exporting software, ICT, professional, advisory and other approved services.⁵ It follows Bangladesh’s Exporters’ Retention Quota framework, allowing eligible account holders to retain 35% of export proceeds from ICT services, or 30% for certain other services, in USD, GBP or EUR.⁵ The remaining funds are transferred to a linked BDT transactional account.⁵

Pricing:

• Zero opening balance⁵
• Zero account maintenance fee⁵

*Fees checked in July 2026

The World Account: a multi-currency account for international income

WorldFirst offers a multi-currency account, the World Account that works alongside an existing freelancer bank account. Instead of receiving international payments into a local account and converting funds immediately, freelancers can receive, hold, convert and send multiple currencies from a single account.

The World Account provides local receiving accounts in 15+ currencies, including USD, GBP, EUR and CNH, allowing businesses to collect international payments without setting up overseas bank accounts. Users can also receive funds from 130+ marketplaces and payment gateways, including Amazon, Etsy and Stripe.

Funds can also be spent directly using the World Card, a Mastercard-powered business payment card that supports spending in 150+ currencies. Users can pay in any of the 15+ supported currencies with no currency conversion fees, provided they hold sufficient balance in that currency. If a balance is not available in the payment currency, competitive foreign exchange rates apply.

Key features

• Hold multiple currency balances and convert funds when needed instead of immediately on receipt
• Send payments in multiple currencies
• Instant transfers between World Account holders at no cost
• Create up to 20 virtual cards at no issuance cost.
• Get access to World Pay, the authorised international payment provider for 1688.com
• Accounting integrations with Xero and NetSuite

Pricing

*Fees checked in July 2026

Choose an account that matches your money flow

The right freelancer account should fit the way your money moves, not just the place it arrives. If international clients are part of your business, compare how each account handles foreign currency, overseas payments and everyday banking. For freelancers handling income across borders, a World Account can sit alongside a domestic bank account, helping organise international receipts, currency balances and business payments in one place.

FAQs

What is the best bank account for freelancers in South Asia?

Compare foreign currency support, fees, digital banking features and international payment capabilities to choose the account that fits your business needs well.

Can freelancers in Pakistan and Bangladesh hold foreign currency in a local bank account?

Yes. Eligible freelancers can use foreign currency or export retention accounts, subject to local regulations.

Can the World Account replace a freelancer bank account?

No. The World Account works alongside a domestic bank account to support international payments and multiple currencies.

How can freelancers receive USD payments?

Freelancers can receive USD through eligible foreign currency accounts, export retention accounts or multi-currency accounts with local receiving details like the World Account.

Sources

1. https://www.mutualtrustbank.com/retail/deposit-products/foreign-currency-account/mtb-erq-account/
2. https://www.meezanbank.com/digital-freelancer-account/
3. https://www.sc.com/bd/deposits/current-accounts/freelancer-account/
4. https://www.bracbank.com/en/retail/accounts/freelancer-matrix-savings-account-bdt
5. https://www.midlandbankbd.net/mdb-freelance-erq-account/

This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.