Best business bank accounts for international payments in South Asia
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Take a look at the best business bank accounts for South Asian businesses that need to frequently manage international payments
Key takeaways
- Most business bank accounts in South Asia are country-specific and built primarily for domestic transactions, with international payment support varying significantly between providers
- Traditional banks rely on SWIFT transfers for cross-border payments, which can mean longer settlement times and higher FX costs for businesses managing frequent international transactions
- Banks across Pakistan and Bangladesh offer a range of account types including current accounts, foreign currency accounts and trade finance solutions for global businesses
- Multi-currency support is a key consideration for exporters, e-commerce sellers, agencies and freelancers receiving payments in USD, GBP or EUR
- The World Account is a multi-currency alternative to a traditional business bank account, supporting collections from 130+ global marketplaces, international transfers and virtual cards for business spending
For exporters, e-commerce sellers and freelancers in Pakistan and Bangladesh, the choice of business account can directly affect how quickly payments arrive, how much is lost to conversion fees, and how easily foreign currency earnings can be held and managed.
Traditional business bank accounts remain the right fit for many companies, particularly those with local banking relationships and trade finance needs. But businesses handling frequent international payments are increasingly looking at multi-currency alternatives alongside traditional banks.
This guide compares nine business bank accounts and payment solutions suitable for businesses and freelancers in South Asia managing international payments.
What is a business bank account?
A business bank account is a deposit account opened in the name of a registered business, separate from any personal account held by the owner. It can be used for receiving customer payments, paying suppliers and staff, and managing the day-to-day cash flow of the business.
Most business accounts are current accounts, which means they are built for frequent transactions rather than earning interest on balances.
Depending on the provider, business accounts may also include financial instruments, FX tools, and multi-currency support for international business payments.
Types of business bank accounts
Regular current accounts
These are standard current accounts designed for day-to-day business banking. They are commonly used by SMEs with moderate domestic transaction volumes.
Startup current accounts
These accounts are designed for newly incorporated startups. Many banks offer simplified onboarding, lower balance requirements and digital-first banking features during the first year of business for startups.
Multi-currency accounts
Multi-currency accounts allow businesses to hold, receive and send money in foreign currencies like USD, GBP and EUR from a single account setup. These accounts are commonly used by businesses in global trade such as exporters, e-commerce sellers and service providers.
Best business bank accounts in South Asia
Here are some of the top business bank accounts in Bangladesh, and Pakistan that offer business banking and/or global payment solutions for companies handling international transfers and overseas collections
1. Import Export Traders Current Account by the State Bank of India (SBI)
The SBI Import Export Traders Current Account is designed for Indian importers and exporters handling international trade payments.1 It supports forex remittance services but details about SWIFT transfers and trade finance for overseas transactions are not specified.1
The account requires a ₹5,00,000 minimum average balance.1 It is more suitable for businesses based in India only.1
Pricing: ₹550 + GST account maintenance charges apply1
2. EEFC Account by ICICI Bank
ICICI Bank’s EEFC Account allows businesses to hold overseas earnings in 24 foreign currencies.2 With this account, all of your foreign currency earnings can be credited to an EEFC Current Account.2
Individuals and businesses earning foreign currency can open an EEFC Account. However, businesses in SEZs cannot open an EEFC Current Account and must use a foreign currency account instead.2
Pricing: Not specified
3. Exchange Earner’s Foreign Currency Account by HDFC Bank
HDFC Bank’s EEFC Account supports businesses receiving overseas earnings in 21 foreign currencies.3
You can hold your foreign currency earnings in the original currency instead of converting them to INR right away. An EEFC Account can also be opened with zero initial funding.3 However, it is a non-interest-bearing account.3
Pricing: Not specified6
4. Standard Chartered current accounts
Standard Chartered is a global bank with operations across Pakistan and Bangladesh. It offers business banking solutions for SMEs, importers, exporters and internationally active companies.7
The current account it offers are:7
- Smart Business Accounts are suitable for growing businesses
- International Trade Accounts are suitable for importers and exporters needing forex and international payment support
- Business Essential Accounts are designed for SMEs
Pricing: No monthly charges
5. Shadhin Current Account by BRAC Bank
The Shadhin Current Account is designed for SMEs and businesses in Bangladesh looking for low-cost business banking services.8
The account does not support multi-currency holding and is mainly focused on domestic business banking.
Pricing: No monthly fee if BDT 25,000 half-yearly average balance is maintained8
6. ERQ Account by Mutual Trust Bank PLC
The MTB ERQ Account supports receiving international payments for Bangladeshi exporters and businesses.11 Businesses can only retain 30%-35% of their export receipt/earnings as foreign currency balance in ERQ account as per regional policies
Pricing: BDT 300 (half yearly) account maintenance charge13
7. Freelancer account by Meezan Bank
Meezan Bank’s Freelancer Account is designed for freelancers and businesses in Pakistan looking for banking services that follow Shariah-compliant principles.14The account lets businesses receive international payments and use a debit card for foreign currency transactions.15
The account is available in both current and savings variants.15 However, it the account does not support multi-currency business transfers.15
Pricing: Not specified
8. Current Account for Global Business by Axis Bank
Axis Bank’s Current Account for Global Business is designed for businesses managing frequent international transactions and overseas trade payments.9This account supports unlimited NEFT/RTGS transfers and FX-linked concessions for global trade payments.9
Pricing: Rs. 150 monthly charges16
Alternative to business bank accounts in South Asia: the World Account
The World Account is a multi-currency account by WorldFirst, designed for global businesses managing international payment collections and supplier transfers. It is not a traditional business bank account.
With a World Account, businesses can hold funds in 15+ currencies including USD, GBP, EUR and CNH, send payments in 100+ currencies and collect payments from global marketplaces.
The World Account also comes with the World Card, a Mastercard-powered business payment card that lets businesses spend directly from their foreign currency balances. Up to 20 virtual World Cards are available at zero issuance cost. Payments made in any of the 15 supported currencies through the World Card do not incur conversion fees if sufficient balance is held in that currency.
The World Account is suitable for e-commerce sellers, businesses, agencies and freelancers handling frequent cross-border payments and marketplace collections.
Here are the key features of the World Account
- Collect from marketplaces and payment gateways including Amazon, Etsy and Stripe
- Free and instant transfers between World Account holders
- Pay 1688 supplier with World Pay
- Up to 20 business payment cards through a virtual card powered by Mastercard at no cost
- Multi-user access and ERP integrations
- No setup fees, monthly fees or receiving fees
- Supports South Asian businesses looking for an online business bank accounts alternative for global operations
- Linked to a business payment card for international payments
| Fee type | World Account |
|---|---|
| Account setup fee | Zero |
| Monthly fee | Zero |
| Receiving funds | Zero |
| Holding multiple currencies | Zero |
| Transfers between World Accounts | Free and instant |
| Sending payments to other accounts | 1.5% for Pakistan and Bangladesh |
| Currency conversion | 1.5% standard |
| 1688 payments | Up to 0.8% |
| Card issuance | Zero for up to 20 cards |
*Fees last checked in May 2026
Choose the right account for international business payments
Choosing the right business account comes down to how the company manages international payments. A business receiving marketplace payouts in USD, paying suppliers in CNH and managing overseas transfers every week will need very different banking support from a local SME handling mostly domestic transactions. The right account is the one that makes international payments, currency management and cross-border operations easier as the business grows.
FAQ
What is the best business bank account in South Asia?
The best option depends on the business type, transaction volume and international payment needs. Many banks in Pakistan and Bangladesh offer current accounts but most of the banks are restricted to their origin country and not present at all.
Can I receive international payments through a regular business current account?
Yes. Many business current accounts support SWIFT transfers and international remittances. However, transfer fees, FX margins and processing times vary between providers.
What is a multi-currency account?
A multi-currency account allows businesses to hold, send and receive money in multiple currencies from one account setup. These accounts are commonly used for e-commerce, exports, freelance payments and overseas supplier transactions.
Do I need a business bank account to receive international payments?
Not always. Some payment providers like WorldFirst offer global collection accounts and marketplace payment tools without being traditional banks. However, many registered businesses still maintain a dedicated business banking relationship for operational and compliance purposes.
Can freelancers use business bank accounts for international payments?
Yes. Banks and global payment providers allow freelancers to receive overseas client payments through business bank accounts. However, features like multi-currency support, FX rates and international transfer fees vary between providers.
Sources:
- https://sbi.bank.in/web/business/current-accounts/import-export-traders-current-account
- https://www.icici.bank.in/business-banking/trade-solutions/eefc-account
- https://www.hdfc.bank.in/current-accounts/exchange-earners-foreign-currency-account
- https://be.statebank/trade-finance
- https://www.icici.bank.in/business-banking/accounts/current-account?ITM=nli_businessBanking_na_heroBannerWithCarousel_1_CMS_currentAccounts_NLI
- https://www.hdfc.bank.in/current-accounts
- https://www.sc.com/in/business/
- https://www.bracbank.com/en/sme/accounts
- https://www.axis.bank.in/business-banking/current-account/current-account-for-global-business#feescharges
- https://www.mutualtrustbank.com/retail/deposit-products/current-account/
- https://www.mutualtrustbank.com/retail/deposit-products/foreign-currency-account/mtb-erq-account/
- https://sbi.bank.in/documents/16012/76239/Annexure+30.09.2024.pdf/9b8f03ee-8845-de32-906b-df3dd5bb58e9?t=1731073566326
- https://www.mutualtrustbank.com/wp-content/uploads/2026/01/Schedule-of-Charges-of-Retail-Banking-Division-Effective-From-1st-January-2026.pdf
- https://www.meezanbank.com/bank-accounts/
- https://www.meezanbank.com/freelancer-accounts/
- https://www.axis.bank.in/docs/default-source/default-document-library/canor.pdf?sfvrsn=66244b23_2
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.
Hu Wenzhan is the Emerging Markets Country Manager at WorldFirst. He brings expertise across Fintech, Payments, Banking, New Markets Growth to help clients grow their global business.
Hu Wenzhan
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