Euro bank account for non residents in South Asia

A Euro bank account for non-residents helps receive international payments. Know more about local banks and multi-currency providers offering EUR account options

Key takeaways

• Pakistani businesses can access EUR accounts through selected local banks and non-banking payment providers, subject to eligibility requirements
• Pakistani banks offer EUR accounts through Meezan Bank and Standard Chartered
• Non-banking providers such as nSave and Payoneer support international EUR payments, with varying fees and withdrawal options
• World Account is a multi-currency account that supports receiving, holding, converting and sending funds in multiple currencies, including EUR

In 2024, bilateral trade in services between Pakistan and the EU totalled EUR 2.5 billion, with an EU surplus of EUR 1 billion. Pakistani freelancers, exporters and businesses working with European clients may need an EUR account to receive these payments in EUR (when they provide a service), retain foreign currency earnings and pay suppliers in Euros.

This guide will discuss local banks and non-banking payment providers in Pakistan offering Euro bank accounts for non-residents. It will also explore a multi-currency account, the World Account that supports payments in 15+ currencies including EUR.

Can Pakistani residents open a European bank account?

Opening a traditional European bank account typically requires European residency or a registered European business. Requirements vary by bank and country, but may include proof of address, tax identification and in-person verification. For Pakistani businesses without a European entity, local foreign currency accounts and non-banking multi-currency accounts provide options for receiving and holding Euros.

EUR account options from Pakistani banks

1. Meezan Bank: Freelancer Account and ESFCA

Meezan Bank offers a digital Freelancer Account for new-to-bank freelancers to receive international remittances, including EUR payments, into PKR.1 The account links to an Exporters’ Special Foreign Currency Retention Account (ESFCA). Freelancers can retain a portion of their export earnings in USD, GBP or EUR for future foreign business payments or convert the funds into PKR on request via this account.¹

The retention limit is up to US$5,000 per month or 50% of monthly export proceeds, whichever is higher, with the remainder converted into PKR.1 Digital account opening and online banking are also available.¹  No initial deposit is required to open these accounts.¹

*Fees checked in October 2026

→ Here’s how you can open an online business bank account

2. Standard Chartered Pakistan: Foreign Currency Account

Standard Chartered Pakistan offers foreign currency current accounts in USD, GBP and EUR to Pakistani residents and non-resident Pakistanis.³ Account holders can access online and mobile banking to track balances, eStatements and transactions.³

But users must note that withdrawals from these accounts are only available through cheques rather than ATMs.³  There is also a minimum opening deposit and balance maintenance of USD/GBP/EUR 2,000 required for the account.³

*Fees checked in October 2026

→ Learn how to open a business bank account in Pakistan

Non-banking EUR account options for Pakistani businesses

1. World Account by WorldFirst

WorldFirst, an international payments provider, offers the World Account, a multi-currency account for receiving, holding, converting and sending international funds. Businesses can access local receiving account details in 15+ currencies and receive payments from supported marketplaces and payment gateways. The account supports international transfers across 200+ countries and regions.

The account is linked to a World Card, which is a virtual card for business. It is powered by Mastercard and supports business payments in 150+ currencies. Whenever paying in the 15 supported currencies via the multi-currency card, no fees apply provided sufficient balance is held in the account. Businesses can also use World Pay, the authorised international payment provider for 1688.com, to pay suppliers in China.

Additional World Account features

• Maintain balances in 15+ currencies, including USD, EUR, CNH, GBP and AUD, through local currency accounts
• Issue up to 20 virtual business cards with zero issuance fees
• Get paid by multiple marketplaces including Amazon, Etsy and more
• Send funds instantly between World Account holders at zero cost
• Integrate with Xero and NetSuite to support account reconciliation

*Fees checked in October 2026

2. nSave

nSave offers digital accounts in USD, GBP and EUR for international payments.⁴  Depending on the currency, accounts support payment methods such as ACH and wire transfers for USD, FPS for GBP, and SEPA for EUR.⁴

The service also supports transfers to personal and business bank accounts and mobile wallets in Pakistan.⁴ Currency conversion between USD, EUR and GBP is charged at 0.6%.⁴

*Fees checked in October 2026

3. Payoneer

Payoneer provides business and personal accounts for receiving and sending international payments.⁶ Pakistani businesses can collect payments from overseas clients, marketplaces and other businesses, then withdraw funds to supported local bank accounts.⁶

Its services include payment requests, invoicing and transfers across 190+ countries in 10+ major currencies.⁶ Business virtual cards are also available, with each card linked to a single currency balance.⁶

*Fees checked in October 2026

Which EUR account fits your business?

EUR account options vary in eligibility criteria, currency support, fees and withdrawal methods. Pakistani businesses can choose between local bank accounts that support foreign currency holdings and non-banking multi-currency accounts designed for international payments. Before opening an account, check the documentation requirements, applicable charges, payment and withdrawal options, and relevant State Bank of Pakistan (SBP) regulations.

FAQs

1. Can non-residents open a European bank account?

Pakistani residents may face restrictions when opening traditional European bank accounts without European residency or a registered European entity. Local foreign currency accounts and non-banking multi-currency accounts are other options.

2. Can Pakistani businesses receive EUR payments?

Yes. Businesses can receive EUR payments through supported foreign currency accounts, including Meezan Bank’s ESFCA and Standard Chartered Pakistan’s EUR account, or through non-banking payment providers like WorldFirst, nSave and Payoneer that support EUR receipts.^1,3,4,6

3. Do Pakistani banks offer EUR accounts?

Yes. Meezan Bank’s ESFCA supports EUR holdings, while Standard Chartered Pakistan offers EUR foreign currency current accounts.^1,3 Account eligibility, documentation and fees depend on the bank and account type.

Sources

1. https://www.meezanbank.com/digital-freelancer-account/
2. https://www.meezanbank.com/wp-content/themes/mbl/downloads/home-downloads/SOC-ENG-Jul-Dec-2026.pdf
3. https://www.sc.com/pk/save/foreign-currency-account/
4. https://www.nsave.com
5. https://www.nsave.com/pricing
6. https://www.payoneer.com/
7. https://www.payoneer.com/about/pricing/

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.