US bank account for non-residents: A guide for South Asian businesses [2027]

USD accounts help South Asian businesses send, receive and hold international payments. Take a look at the USD account options available in South Asia

Key takeaways

• Pakistani and Bangladeshi residents generally cannot open traditional US bank accounts directly without meeting US banking requirements
• The Bank of Punjab, HBL, Standard Chartered Bangladesh, Bangladesh Commerce Bank and UCB offer foreign currency account options for businesses and exporters in South Asia
• The World Account is a multi-currency account that can send, receive, hold and convert multiple international currencies including USD

In 2024, the US imported goods and services worth approximately US$6.5 billion from Pakistan and US$9.86 billion from Bangladesh. These trade flows create cross-border payment needs for businesses on both sides. Yet, opening a traditional US bank account may not be possible for businesses in these countries due to residency and eligibility requirements. Local USD accounts and multi-currency accounts offer ways for businesses to receive and hold international payments.

This guide covers the available account options in Pakistan and Bangladesh and how a multi-currency account like the World Account supports cross-border payments.

Can Pakistani and Bangladeshi residents open a US bank account?

US Banks such as Chase, Bank of America and Wells Fargo generally require identification and tax documentation, and some account-opening processes require physical presence in the US. Pakistani and Bangladeshi residents without a US entity cannot typically open these accounts directly.

Establishing a US entity involves additional tax, regulatory and compliance obligations. Instead, businesses in Pakistan and Bangladesh can open USD foreign currency accounts with local banks, subject to eligibility and applicable regulations.

What to look for in a USD account for non-residents in South Asia

• Currency retention limits: Check how much export income you can retain in USD. Most freelancers can retain US$5,000 monthly or 50% of export earnings, whichever is higher, subject to regulations
• Permitted payment sources: Confirm whether the account accepts export proceeds, overseas client payments, wire transfers or foreign remittances
• International transfers: Check whether you can send USD to overseas suppliers and pay international business expenses from the account
• Withdrawal and card access: Confirm whether the account supports cash withdrawals, debit cards or international credit cards. Some foreign currency accounts do not offer card facilities
• Account-opening balance: Compare initial deposit requirements. Some banks have no minimum opening balance while some do. Also check recurring account charges
• Transfer charges: Look for SWIFT fees, outgoing transfer charges and intermediary bank fees, which may apply even when the account itself has zero fees
• Currency conversion: Check the exchange rates and fees for converting USD into Pakistani rupees, Bangladeshi Taka or other currencies
• Digital access: Check whether the bank offers online banking, mobile access and digital statements to track transactions without visiting a branch
• Multi-currency support: If you receive EUR, GBP or other currencies alongside USD, check whether the account can hold them or requires conversion into local currency
• Account purpose: Check whether the account is designed for freelancers, exporters or agents. For example, some accounts can only be opened by specific companies earning foreign currency through agency and trade-related activities
• Application process: Confirm whether you can apply online or must visit a branch, and whether the bank requires additional verification before activating the account

USD bank accounts available to South Asian businesses

1. Bank of Punjab (BOP) Foreign Currency Business Value Account

The Bank of Punjab offers conventional and Islamic USD Foreign Currency Business Value Current Accounts with zero opening, minimum balance and maintenance fees.¹ Both support local and foreign remittances, wire transfers and cheque clearing.¹  The accounts are non-interest-bearing, with no debit card facility specified.¹  Foreign bank charges may apply to transfers.¹

*Fees checked in October 2026

2. HBL Freelancer Account with ESFCA

HBL offers resident Pakistani freelancers aged 18 and above a primary PKR current account linked to an Exporter’s Special Foreign Currency Account (ESFCA).²  Available to new-to-bank customers, it can only be opened individually through CNIC/SNIC and has no minimum monthly balance requirement.²

A USD debit card is also available against the ESFCA.² Freelancers can keep US$5,000 monthly or 50% of their export earnings in the ESFCA, whichever amount is higher, subject to applicable regulations.²

*Fees checked in October 2026

3. Standard Chartered Bangladesh ERQ Account

Standard Chartered Bangladesh’s Export Retention Quota (ERQ) Account enables exporters to retain 60% to 70% of eligible inward remittances in foreign currency, alongside funds credited to a BDT account.⁴  Funds can be sent by bank transfer or demand draft for business expenses.⁴  Applicants need trade, tax and corporate documentation, including a renewed ERC certificate where applicable.⁴

*Fees checked in October 2026

4. Bangladesh Commerce Bank Exporter’s Retention Quota Account

Bangladesh Commerce Bank’s ERQ Account allows exporters to retain eligible export proceeds in USD, GBP, EUR or JPY.⁶  Export payments are deposited into the account through an authorised dealer branch and funds can be used for business expenses.⁶

Exporters may also obtain an international credit card against the balance.⁶  For those who choose to keep funds in a renewable term deposit, interest may be available on balances up to US$2,000 or equivalent.⁶

*Fees checked in October 2026

5. United Commercial Bank (UCB) Agent’s Retention Quota Account

UCB’s Agent’s Retention Quota (ARQ) Account can be used by resident companies acting as agents, trade facilitators, buying houses or indenting firms earning in foreign currencies.⁸ It supports USD, GBP, EUR and JPY, with retention capped at 10% of foreign currency receipts.⁸

There are no international transaction limits and up to three executives can get an international credit card against the account balance.⁸ But cheque books and debit cards are not available.⁸

*Fees checked in October 2026

Which USD account fits your business?

The right USD account depends on your business and income source. Freelancers in Pakistan can use a PKR account linked to an ESFCA, while Bangladeshi exporters can use ERQ accounts and eligible agents can look for ARQ accounts. Businesses receiving payments in multiple currencies can pair local banking with a multi-currency account.

The World Account: A multi-currency account for South Asian businesses

WorldFirst’s World Account is a multi-currency account that lets businesses receive, hold, convert and send international payments. It provides local receiving account details in 15+ currencies, including USD, GBP, EUR, CNH and AUD. These details allow overseas clients and supported platforms to pay businesses in the relevant currency like a local.

Businesses can receive payments from 130+ marketplaces and payment gateways, including Amazon, Shopify, Etsy and Stripe. The account also supports a linked World Card, which is a Mastercard-powered business payment card. You can spend in 150+ currencies via this card, with zero fees in 15 supported currencies when sufficient funds are held in the relevant currency.

Key features of the World Account

• Receive and hold funds through local receiving account details in 15+ currencies, including USD
• Convert currencies and send international payments to suppliers in 200+ countries
• Create up to 20 virtual cards at zero issuance cost
• Transfer funds instantly between World Account holders with zero transfer fees
• Pay suppliers through World Pay, the authorised international payment provider for 1688.com
• Connect with Xero and NetSuite for account reconciliation

*Fees checked in October 2026

FAQs

1. How do South Asian businesses get a US bank account for non-residents?

Businesses can apply directly to US banks if they meet the bank’s requirements or consider establishing a US LLC and applying for a business account. An LLC does not guarantee approval and involves additional tax, legal and compliance obligations. Local foreign currency accounts are another option for eligible Pakistani and Bangladeshi businesses receiving international payments.

2. Is there an online US bank account for non-residents?

Pakistani and Bangladeshi businesses can apply online for eligible local USD accounts, such as HBL’s Freelancer Account, or consider multi-currency accounts from providers like WorldFirst, which is an international payments provider, not a bank.2 WorldFirst supports international USD payments through its World Account.

3. What is a USA virtual bank account?

A USA virtual business bank account generally refers to an account providing US payment details, such as routing and account numbers, to receive USD payments without opening a traditional bank account in person. Depending on the provider, it may be a bank account or a payment service offering US receiving details. Eligibility, available features and the ability to hold or transfer funds vary by provider.

4. Can non-residents open a US bank account?

Yes, some US banks accept non-resident applicants, subject to their eligibility and verification requirements. These may include a US address, tax identification details, a valid passport and an in-person visit. Pakistani and Bangladeshi residents who cannot provide the documents required by a particular bank may not qualify to open an account directly.

5. Can I open a US business bank account for non-residents from Pakistan or Bangladesh?

Opening a US business bank account can require a US business presence and additional documentation. If you do not have a business in the US and are a service provider from Pakistan or Bangladesh, you can open local USD accounts or multi-currency accounts from providers like WorldFirst to receive and make USD payments internationally.

Sources

1. https://www.bop.com.pk/Documents/Resource_Center/BOPKFS/RBG/English/Foreign%20Currency%20Business%20Value%20Current%20Account%20USD.pdf
2. https://www.hbl.com/personal/accounts/current/hbl-freelancer-digital-account
3. https://www.hbl.com/assets/documents/Schedule_of_Bank_Charges_for_July_to_December_2026_–_English.pdf
4. https://www.sc.com/bd/business/export-retention-quota/
5. https://www.sc.com/bd/forms-centre/schedule-of-charges/
6. https://www.bcblbd.com/page/380
7. https://www.bcblbd.com/page/223
8. https://www.ucb.com.bd/banking/sme-banking/arq-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.