Roshan Digital Account
JS Bank is now offering Roshan Digital Account, a cutting-edge digital banking service, to Non-Resident Pakistanis (NRPs) residing globally. This innovative service enables NRPs to open Foreign Currency (FCY) or PKR based accounts through a completely digitized and secure process. Our Roshan Digital Account benefits include unparalleled convenience and access to a range of financial services and investment opportunities, helping JS Bank promote a prosperous and progressive Pakistan.
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Open Your JS Roshan Digital Account from anywhere with JS Bot. This innovative feature simplifies the account opening process. With JS Bot, you can securely provide personal information and necessary documents, completing the process quickly and easily. Join the global community of investors using JS Roshan Digital Account today!”
Tutorials
ٹیوٹوریلز
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Features
Free SMS
Alerts
No Initial Deposit Required
Mobile & Internet Banking
Secured and Instant Services
Real-time Currency Conversion
No Minimum Balance Required
Ab kabhi bhi, kahin bhi #JurayRahen apno se!
Eligibility
- Roshan Digital Accounts can be opened and maintained by individual non-resident Pakistani clients and resident Pakistani clients with wealth declared abroad.
Documents
- Filling of account opening form will approximately take 10-15 minutes
- After gathering the Required Documents you will need to scan and upload them
- We advise you to read the FAQs to get familiar with the product
- You will also need access to a webcam so that your live photo can be captured
- You may use the live chat feature in case you need any kind of assistance at any point
- You will have to acknowledge the declaration to proceed to the next steps
- Click on ‘Apply Now’ and fill in your personal information
- Upload soft versions of required documents
- e-KYC through recorded audio/video calling by Bank’s representative with you
- Upon successful verification of details and documents, your account will be opened within 48 Hours
- You will receive a confirmation email along with IBAN number from the Bank Resident Pakistanis
- Resident Pakistani’s have to visit JS Bank Branch
- For Roshan Digital Account, Resident Pakistani’s have to submit wealth statement having foreign assets declared in last submitted tax return in addition to existing requirements for documents (as per regulator)
- Account will be opened as per the branch existing process
Documents
- Original scanned CNIC/ NICOP/ POC
- Original scanned Passport (first 2 pages) (Pakistani and/or foreign/other country)
- Proof of NRP status (e.g. scanned copy of POC, visa, entry/exit stamps, etc.)
- Proof of Profession and Source of Income/Funds (e.g. scanned copy of job certificate, tax return, rent agreement, salary slips, etc.)
- Photo of customer
- Signature (Electronic)
- FATCA/CRS Declaration
Information
- Pakistani residents with declared assets abroad can apply for foreign currency Roshan Digital Account by visiting any JS Bank branch.
- Customers may also be contacted online or through video call by JS Bank for due diligence. The online verification session will be recorded for quality assurance purposes.
- All taxes and Zakat are applicable as per laws of Pakistan.
- Service Charges will apply as per prevailing SOC.
- Introduction
Q1. Who can open a Roshan Digital account?
Q2. Can resident Pakistanis open a Roshan Digital Account?
Q3. How do I apply for JS Roshan Digital Account?
Q4. Is this a current or savings account?
Q5. Can I open business accounts via Roshan Digital Account?
Q6. I received my welcome letter; how will I get access to my Roshan Digital Account?
Q7. What currency can the account be opened in?
Q8. Is there any cross-border limitation for opening a Roshan Digital Account through JS Bank?
- Savings Account
Q9. What shall be the profit payout frequency on savings account?
Q10. What shall be the rate of return on Conventional Savings account?
- Joint Account
Q12. Is the account operation singly or jointly?
Q13. Can I open a joint account with a resident Pakistani?
Q14. Can I open a joint account with a non-resident Pakistani residing in another country?
Q15. What will happen in case of the death of the primary joint account holder?
B. In case the secondary account holder is a resident, the account will have to be closed in case of the death of the primary joint holder, and a new non-RDA account can be opened for the secondary account holder.
- Documents Requirement
Q16. What documents are required to open a Roshan Digital account?
2. Original scanned Passport (first 2 pages) (Pakistani and/or foreign/other country)
3. Proof of NRP status (e.g. scanned copy of POC, visa, entry/exit stamps, etc.)
4. Proof of Profession and Source of Income/Funds (e.g. scanned copy of job certificate, tax return, rent agreement, salary slips, etc.)
5. Live Photo of customer
6. Signature (Wet signature scanned or pictured)
7. FATCA/CRS Declaration
Q17. What Proof of profession options can be submitted by Employed/Salaried persons?
2. Employer/Job Certificate, OR
3. Employment Contract, OR
4. Employer Letter, OR
5. Iqama/Work Permit showing Profession/Employment Details, OR
6. For Retired Persons, a copy of Retirement Letter/Proof of Retirement, OR
7. Any other Document evidencing the Profession
Q18. What source of income/funds can be provided by Employed/Salaried persons?
2. Salary Certificate, OR
3. Payment Slips/Record, OR
4. Account Statement, OR
5. Tax Statement/Return/Certificate, OR
6. For Retired Persons, evidence of Terminal Benefits/Pension Book, etc., OR
7. Any other Document evidencing Source of Income
Q19. What proof of business/work can be submitted by self-employed/nonsalaried/unemployed persons?
2. Business/Proprietor Letterhead; or any other Proof of Self-Employment (e.g. Lawyer/Doctor/Consultant/Freelancers/Grocery Store/Medical Store/Labor Work, etc.), OR
3. Partnership/Business Deed, OR
4. Housewives – Declaration, OR
5. Student ID Card/Letter from Educational Institute, OR
6. Iqama/Work Permit showing Business/Nature of Work, etc., OR
7. Any other Document evidencing the Profession
Q20. What source of income/funds can be submitted by self-employed/nonsalaried/unemployed persons?
2. Account Statement, OR
3. Particulars of Income/Funds Providers (e.g. Family Members/Guardian/Stipends/Social Benefits, etc.), OR
4. Tax Statement/Return/Certificate, OR
5. Any other Document evidencing Source of Income
Q21. Are there any other sources of funds/income acceptable for salaried/non-salaried/self-employed/unemployed persons?
• Agriculture Income
• Investment in securities, bonds, shares, etc.
• Investment in property
• Interest income
- Transactions
Q22. What transactions are allowed on my Roshan Digital account?
Credit Transactions:
- Remittances received from abroad through banking channel, PRI, or MTOs (such as MoneyGram, Western Union, etc)
- The account can be funded through another RDA account with JS Bank belonging to the same account holder.
- Proceeds of Government of Pakistan securities (as allowed by State Bank of Pakistan), term deposits, and other Wealth products and profit / interest on these investments.
- Refund of amounts debited incorrectly or over-charged.
Debit Transactions:
- Remittances and payments outside Pakistan to the funding account
- Investment in Government of Pakistan securities (as allowed by the State Bank of Pakistan), term deposits, and other Wealth products.
- All inland (within Pakistan) payments, withdrawals, and funds transfer within Pakistan only – These can be done via PKR account only
- Debits in lieu of applicable government taxes/duties, bank charges, and reversal of any incorrect/wrong credit entry.
Q23. What credit transactions are not allowed on my Roshan Digital account?
A. Account can only be fed by foreign remittances originating from the account holder themselves through formal channels i.e., banks or money transfer companies. No local credits are allowed into the account.
Q24. How can I fund the account?
A. Roshan Digital accounts can be funded through remittances from the account holder themselves through formal channels i.e., banks or money transfer companies (Swift code: JSBLPKKARDA).
Q25. Where can I find the routing instructions for my country of residence for sending funds?
A. The detailed instructions are available at the following link on JS Bank Website: Routing Details
Q26. Can my Roshan Digital Account be credited with my salary from my employer?
A. Account can only be fed by foreign remittances originating from the account holder themselves through formal channels i.e., banks or money transfer companies.
- Remittance
Q27. Can business accounts (local and international) transfer money into our RDA account?
A. No. Roshan Digital Account is only credited via remittances (internationally) initiated by the account holder himself/herself.
Q28. How can I fund the account?
A. Roshan Digital accounts can be funded through remittances from the account holder themselves through formal channels i.e., banks or money transfer companies.
Q29. What will be the charges when I send remittance to my Roshan Digital Account?
A. JS Bank will not charge anything on remittance transactions sent to a Roshan Digital Account. However, correspondence banks charge a fee on remittance transactions. If you use JSBLPKKARDA; you will be charged a discounted fee ranging between $5 – $9 per transaction.
Q30. What is the exchange rate determined on the transactions sent to and from Roshan Digital Accounts?
A. The exchange rate is quoted as a two-way price like all other banks.
Q31. How can I transfer funds from my FCY account to my PKR account or vice versa?
A. You can transfer funds between your FCY and PKR RDA Accounts at JS Bank using our Mobile and Internet Banking facilities.
Q32. Can I perform transactions in Pakistan through my RDA account?
A. Roshan Digital account holders can perform transactions like funds transfer, bill payment, POS transactions, etc., via online banking, debit card, or Cheque-books.
Q33. Does the account allow repatriation?
A. Full repatriation and convertibility are allowed for Roshan Digital accounts without any prior approvals from the Bank or State Bank of Pakistan.
Q34. What amount can I Repatriate/ Outward remit abroad from my Roshan Digital Account?
A. Remittance and payments outside Pakistan can be to the extent of the balance available in the account, without any prior approvals from the Bank or State Bank of Pakistan.
Q35. What will be the charges when I send remittance from my Roshan Digital Account?
A. There are no charges for outward remittance for RDA customers.
Q36. How long does a foreign remittance transaction take to reach JS Roshan Digital Account?
A. In case the remitting bank has a partnership with JS Bank (click here to view Partners), the transaction would be credited on the same day, however, if the request is received after the cut-off time of the respective remitting bank, it might be processed on the next working day. In case the remitting bank does not have a direct relationship with JS Bank, the transaction may take up to 3 working days depending on the number of correspondents and geographical location. Some additional factors that may cause delay are as below: Time Zone and Working Days difference (for e.g. in Gulf Countries Friday is a holiday), Payment held if cover funds are not available in Nostro, Customer engagement in case remitter and beneficiary are different to ensure that the payment is in accordance with the regulations, In case there is a match against sanctioned list or remitting Country falls under high risk jurisdiction, the EDD process may result in delays.
Q37. If I have a USD RDA Account, can I remit funds in PKR? Can I remit funds in another currency – such as AED?
A. Customer can only remit foreign currency to their foreign currency account. Regulations in Pakistan only allow the conversion of foreign currency to foreign currency and foreign currency to PKR. No provision is available to convert PKR to foreign currency.
Q38. Can my RDA Account accept remittances from any other person than myself?
A. For remittances transmitted via SWIFT message (wire transfer), the transaction will be processed only if the funds are remitted from any of the following sources: Customer’s own account abroad, Immediate family member’s account abroad (such as spouse, parents, children, siblings), Employer’s account abroad for crediting of salary only. (But employer information must be accurately shared during form submission.)
Q39. How do I Repatriate/ Outward Remit my funds abroad from Roshan Digital Account?
In order to repatriate funds, please send your details filled in the below email template via your registered email address to RDA@jsbl.com.
- Instruments and Digital Banking
Q40. Will I get a Debit card/ Cheque book when I open my Roshan Digital account?
A. You can opt for a debit card (for PKR accounts only) when you apply for your Roshan Digital Account whilst you can apply for a Cheque book (for both PKR and FCY accounts) via Call Centre or Mobile banking.
Q41. Can my Debit Card be used outside of Pakistan?
A. PKR Roshan Digital Account holders are given Visa debit cards which can be used outside Pakistan on all possible digital channels, POS, ATMs, etc.
Q42. What are the charges for debit card (Conventional)?
A. JS Titanium MasterCard Debit Card is offered free of cost to all RDA customers who apply. Annual/Issuance Fee for Other card categories will be charged at actual as mentioned in the schedule of charges.
Q43. What are the charges for the Cheque book?
A. As per Schedule of Charges
Q44. Is Internet banking / Mobile Banking available?
A. Yes, Internet and Mobile banking services are available to RDA customers.
- Naya Pakistan Certificate (Conventional)
Q45. Is there any cross-border limitation for investing in Naya Pakistan Certificates through JS Bank Pakistan Limited?
A. Yes. There are limitations around cross-border activities that can be undertaken for the residents of specific countries. We may not be able to offer investing in Naya Pakistan Certificates for residents of some high-risk countries. The same check has been built in the form to facilitate you in identifying if you are eligible to apply for Roshan Digital Account.
Q46. What are Naya Pakistan Certificates?
A. Naya Pakistan Certificates are short-term instruments governed by SBP with maturity of five years or less. These instruments are highly liquid and carry interest/coupon as determined by SBP.
Q47. How do I apply for Naya Pakistan Certificate?
A. You can log into your JS Bank Mobile Banking, click on “Naya Pakistan Certificate” in the RDA Menu, and fill out the digital investment form.
Q48. What are the tenors available for investing in Naya Pakistan Certificates?
A. The tenors available are 3 months, 6 months, 12 months, 3 Years, 5 Years, and 10 Years.
Q49. What types of Naya Pakistan Certificates are available?
A. Only Conventional Naya Pakistan Certificates are available.
Q50. What are the rates for Naya Pakistan Certificates?
| 3 M | 6 M | 12 M | 3 Y | 5 Y |
|---|---|---|---|---|
| USD (%, Annualized) | ||||
| 5.50 | 6.00 | 6.50 | 6.75 | 7.00 |
| PKR (%, Annualized) | ||||
| 9.50 | 10.00 | 10.50 | 10.75 | 11.00 |
| EUR (%, Annualized) | ||||
| 4.75 | 5.00 | 5.25 | 5.5 | 5.75 |
| GBP (%, Annualized) | ||||
| 5.25 | 5.5 | 5.75 | 6.25 | 6.5 |
Q51. Can we invest jointly in Naya Pakistan Certificate?
A. The investment in Naya Pakistan Certificate can be done jointly via a joint account Roshan Digital Account.
Q52. Can resident Pakistanis invest in Naya Pakistan Certificates?
A. Resident Pakistanis who have declared assets held abroad with FBR can invest in USD-denominated NPCs after opening their Roshan Digital Account for residents.
Q53. How will I know that my Naya Pakistan Certificate has been issued?
A. Naya Pakistan Certificates are issued digitally. A confirmation email on the issuance of the certificate is sent to your registered email address.
Q54. Is early encashment allowed on NPCs?
A. Early encashment is allowed. Before a certain holding period (3-months), no interest/profit will be available to the investor at the time of early encashment. After 3-months holding period, profit/interest will be paid subject to rules laid down by the regulator.
Q55. Can the NPC be rolled over at maturity?
A. No, they cannot be rolled over at maturity.
Q56. Can the NPC be transferred?
A. No, they cannot be transferred.
- Other Investments
Q57. Can I invest in real estate and equities through this account?
A. You can invest in T-Bills and PIB. Very soon investments in Real Estate, Autos, and other avenues will also be made available.
Q58. Can I invest in mutual funds or other government securities through this account?
A. Yes, you can invest in mutual funds or other government securities through this account. You will be required to open a CDC account via your JS Bank Mobile Banking as a prerequisite.
- Taxes
Q59. Are there any FBR implications on remitting funds into the country and repatriating it?
A. There are currently no FBR implications on remitting and repatriating funds.
Q60. What is the tax rate applicable on Naya Pakistan Certificate?
A. The tax rate applicable on profit of investment in Naya Pakistan Certificate is flat 10% for both filers and non-filers.
- Miscellaneous
Q61. Is compulsory deduction of Zakat, under Zakat & Ushr Ordinance 1980, applicable on RDA?
A. No, in terms of Section 3(1)(a)(b) of the Zakat and Ushr Ordinance, 1980, read with Rule 24-A of the Zakat Collection & Refund Rules, 1981, compulsory deduction of Zakat is not applicable on RDA (both FCVA and NRVA).
Q62. How can I have my static data changed?
A. Static data change request can be placed via Call Centre or by visiting a branch in case you are visiting Pakistan.
Q63. How can the dormancy be removed?
A. Dormancy can be removed by fulfilling formalities in a domestic branch, representative office of JS Bank, or via contacting specific RDA Customer Care Unit representative at our helpline +92 21 111 654 321.
Q64. Can I convert my normal account to Roshan Digital Account?
A. No, account conversion/ reclassification is not possible.
Q65. How can I contact the bank?
A. You can contact JS Bank through our 24/7 UAN number +92 21 111 654 321.
Get in Touch
We thank you for your interest in the Roshan Digital Accounts (RDA) for Non-Resident Pakistanis. You are also requested to provide your feedback on overall user experience, suggestions and complaints (if any) for further improvement at RDA@jsbl.com or call at +922132799009, +92 (051-021) 111 654 321.
You can also contact us on our Facebook page:
You may also share your feedback and suggestions related to Roshan Digital Accounts with State Bank of Pakistan (SBP) at RDASupport@sbp.org.pk
