Taking advantage of a virtual bank often comes with more advantages than a physical bank. Digital banks do not have as much overhaul, and while these facilities do not have the same kind of physical presence, the savings of being a digital establishment is often reflected back on client savings. For a Pakistan company looking to save money and yet receive additional benefits, selecting a virtual bank is an excellent option. Here are some of the top virtual bank account service provider found in Pakistan.
PayPal is more of a service provider than specific bank. It does not have the same kind of investment and lending options as a bank, but it is the easiest to set up and it is available around the world. If someone is Pakistan wants to accept payments from Canada, the United States, Australia, Japan or anywhere else in the world, PayPal is there. Although there are some slight international convenience fees, it is probably the widest available and easiest to set up.
This is a virtual bank that is available only online. Now, while it is possible to open up within Pakistan it is a U.S. based account. Due to this, some services a Pakistan company is looking for might not be supported (including any kind of business loan). However, it accepts international charges and there are ways to invest some added money through options available (the interest rate offered on savings and checking accounts is also one of the highest in the industry).
Barclays is one of the largest banks in the world. It has an international department though and it is also available online through a virtual service. It prides itself in offering a high savings account APY and also a one-year CD rate that is easy to invest in. For international businesses like those in Pakistan, this might be the best to go with, simply because if there is ever an issue and the business owner wants to go in and talk with someone who can assist, Barclays has service locations around the world, so this is an actual option. With the other services, there really isn’t the potential.
First Internet Bank
This is a quality virtual bank account and it is another that can be used throughout the world, including Pakistan. It doesn’t have 24/7 support, but it does have lower fees than what a traditional bank is going to charge.