ACE Money Transfer
ACE Money Transfer
13 Oct 2026
The Roshan Digital Account is an initiative by the State Bank of Pakistan, launched in September 2020 to give non-resident Pakistanis (NRPs) and foreign nationals holding a Pakistan Origin Card a direct, fully digital pathway into Pakistan's banking and investment ecosystem. Before RDA existed, overseas Pakistanis had to rely on relatives, power-of-attorney arrangements, or costly trips home just to open or manage a Pakistani bank account. That era is over.
An RDA account lets you open and operate a Pakistani bank account entirely online, without visiting a bank branch, embassy, or consulate. It provides remote digital access to banking for non-resident Pakistanis, regardless of whether you're a salaried professional in the UK, a student in Canada, or a business owner in the UAE. Multiple commercial banks offer Roshan Digital Accounts to NRPs, and the accounts can be held in PKR or foreign currencies like USD, GBP, EUR, AED, and SAR.
This article covers everything about the Roshan Digital Account for NRPs: who qualifies, what documents you need, how to open one from abroad, and which investment opportunities are available, including the stock market, mutual funds, and real estate. Funds in a Roshan Digital Account (RDA) can generally be repatriated abroad without prior bank or SBP approval, subject to applicable conditions. Restrictions may apply to capital gains from property sold within three years of investment. RDA funds can also be used for eligible local payments, bill payments, and transfers within Pakistan. Source: State Bank of Pakistan — RDA FAQs. And when it comes to funding, NRPs can send money directly into their RDA through international remittances, including modern online transfer providers like ACE Money Transfer.
Eligibility for a Roshan Digital Account is defined by the State Bank of Pakistan and applies uniformly across all participating commercial banks. Here are the specific categories of people who can apply:
Non-resident Pakistanis (NRPs): Pakistani citizens living abroad for 183 or more days in a tax year, as defined under the Income Tax Ordinance 2001. This includes workers, students, and expatriates holding a valid Pakistani CNIC or NICOP.
Pakistan Origin Card holders: Foreign nationals of Pakistani origin with a valid Pakistan Origin Card issued by NADRA qualify as eligible account holders.
Foreign nationals: Non-Pakistani individuals and foreign companies can apply with valid identification documents under Pakistan's foreign investment framework, subject to FATCA and CRS requirements.
Resident Pakistanis with declared assets abroad: If you're a resident Pakistani who has declared foreign assets in your FBR wealth statement, you may also open an RDA, specifically a Foreign Currency Value Account.
Government employees posted abroad: Officials of federal or provincial governments posted abroad during the tax year are eligible.
Non-resident Pakistanis aged 18 or above can apply. Every applicant must meet KYC and AML checks as per State Bank circulars and provide proof of non-resident status.
Almost all commercial banks operating under the RDA framework offer multiple account variants designed to match different customer needs. Here is how they break down:
| Feature | PKR Account (NRVA) | Foreign Currency Account (FCVA) |
|---|---|---|
| Currency | Pakistani rupees | USD, EUR, GBP, AED, SAR, others |
| Use case | Local payments, PKR investments | Holding either a foreign currency balance or FCY-denominated investments |
| Funding | Remittances converted to PKR | Credited directly in foreign currency |
Account types include single, joint, current, and savings accounts. Both conventional and Shariah-compliant account options may be available, depending on the bank and account type. Check the relevant bank's official website for current details, so you can choose an Islamic digital account if that suits your preferences. Joint accounts can pair non-resident and resident Pakistanis under certain conditions.
A Pakistani rupee account can be used for day-to-day banking and eligible investments in Pakistan. A foreign currency account holds funds in a foreign currency, so its value in PKR may fluctuate with exchange rates. This is not financial or legal advice. Please consult a qualified professional. A foreign currency account may reduce exposure to PKR exchange rate movements, but exchange rates can fluctuate, and outcomes are not guaranteed. A simplified low-income RDA variant is available for NRPs who need only a basic set of banking features, with capped monthly remittances and lighter documentation.
Banks like Al Habib, Allied Bank, HBL, Standard Chartered Bank, Meezan, and others all follow State Bank rules but differ in specific currency options, profit rates, and Islamic banking features.
RDA fundamentally changes how overseas Pakistanis interact with the Pakistani financial system. Instead of relying on family members to undertake banking on your behalf, you get a savings account or current account that you control directly.
Key benefits at a glance:
24/7 digital access: Internet banking and mobile banking apps let you check balances, make local transfers, and manage investments from anywhere.
Full repatriation: Roshan Digital Accounts allow full repatriation of funds. Principal, profits, capital gains, and disinvestment proceeds can be sent back abroad without separate State Bank approval, provided funds originated from foreign remittances and eligible investments.
Low costs: No or very low minimum balance requirements in many banks. Free debit card, cheque book, and e-statements for digital account holders.
Everyday banking: Pay utility bills (electricity, gas, water, internet), handle school and university fee payments, make mobile top-ups, and transfer funds to any Pakistani bank account.
Investment gateway: RDA acts as a portal to innovative banking solutions, enabling investment in government securities, the stock market, mutual funds, and commercial real estate.
Security: Eligible bank deposits may be covered by Pakistan’s Deposit Protection Corporation (DPC), subject to its rules and coverage limits. Check the DPC website for details.
The account allows payment for utility bills and other local transactions in Pakistan, reducing reliance on informal cash channels.
The entire KYC process is digital. You need to upload scanned copies of required documents and a digital photo must be taken during the application process. Prepare clear, high-resolution files before you start.
Identity documents:
Valid CNIC, NICOP, or Smart CNIC
Pakistani and/or foreign passport (photo page)
National ID from country of residence (if available)
Proof of non-resident status:
Residence permit, Iqama, work visa, or entry/exit stamps
Any official document confirming overseas residence
Income and employment verification:
Salary slip, employment letter, or bank account statement from your overseas bank
For self-employed applicants: business registration document, financial statements, or business letter head with details
Tax returns from country of residence
Additional requirements:
Live selfie or short video uploaded through the bank's portal
Scanned signature
For US persons or foreign nationals: IRS FATCA forms (W-8BEN or W-9) and tax residency declarations
All documents must be in acceptable formats (JPEG, PNG, PDF). Incomplete or blurred uploads can delay the approval process, so double-check before submitting. Eligible documents for opening an account include CNIC, passport, and proof of non-residency.
You can open a Roshan Digital Account online. The online process takes about 15 to 30 minutes to complete, and account opening confirmation is received within 48 hours for individuals. RDA accounts can be opened entirely online without branch visits.
Here is the fully digital account opening flow:
Visit the bank's portal. Go to the Roshan Digital Account page of your chosen bank (e.g., HBL, MCB, Al Habib, Allied, Meezan) and click "Open Roshan Digital Account."
Fill out the account opening form. Enter personal details, registered mailing address, contact information, tax residency, and FATCA/CRS answers. Select your preferred account type (PKR or foreign currency), and choose between Islamic and conventional account services.
Upload documents. Attach your identity, residency, and income documents, your scanned signature, and your live selfie. Use high-resolution images for smooth verification.
Video call (some banks). Some banks schedule a short video call for face verification and to ask questions about your source of funds and expected transaction volumes.
Compliance review. After submission, the bank's compliance team performs KYC and due diligence, typically within 48 hours. Once approved, your account number and IBAN are shared via email or SMS.
First inward remittance. Your initial deposit needs to come from your own foreign bank or a regulated remittance provider through banking channels to activate full functionality.
Funds can only be transferred into the account from abroad. Local PKR cash deposits or domestic funds transfer within Pakistan are not permitted for RDA. RDA accounts can be funded via online transfer providers, SWIFT wire transfers, or digital remittance platforms that send directly to your RDA IBAN.
SWIFT transfers typically take 3 to 7 days to arrive. Transfer charges range from $5 to $9 for remittances through traditional banking channels. Online providers often cut both the time and cost significantly. Source: State Bank of Pakistan - Roshan Digital Account FAQs
ACE Money Transfer is one such platform that lets NRPs remit money from dozens of countries, including the UK, EU, Canada, Australia, and GCC nations, straight into their Roshan Digital Account. Here is how the process works:
Register or log in to your ACE Money Transfer account using your email, Google, or Apple ID.
Choose Pakistan as the destination country and select "bank deposit" as the payout option.
Enter recipient details: your RDA IBAN and account holder name.
Select a payment method: debit card, credit card, or online bank transfer.
Add a payment reason (e.g., "Roshan Digital Account funding") and confirm the transfer details before clicking Pay Now.
Track your transaction in real-time using the reference tracking number provided.
ACE Money Transfer also supports other payout methods like cash pickup at authorized partner bank branches and mobile wallet crediting, though for RDA funding, bank deposit is the relevant option. Online providers like ACE Money Transfer often offer more competitive exchange rates and lower fees than traditional money exchanges or correspondent banks, making them ideal for regular RDA funding.
Register or log in to your ACE Money Transfer account using your email, Google, or Apple ID.
Choose Pakistan as the destination country and select the bank deposit payout option.
Enter accurate recipient details, including your RDA IBAN and account holder name.
Select a payment method such as debit card, credit card, or online bank transfer.
Add a payment reason (e.g., "Roshan Digital Account funding") and confirm the transfer details before clicking Pay Now.
Track your transaction in real-time using the reference tracking number provided.
Bank Deposit: Direct transfer to your Roshan Digital Account at participating banks.
Cash Pickup: Over-the-counter cash collection at authorized partner bank branches.
Mobile Wallet: Instant crediting to supported mobile wallet accounts.
For RDA funding, the bank deposit option is the preferred method to ensure seamless and secure crediting of funds to your account. ACE Money Transfer provides a convenient, cost-effective, and transparent way to fund your Roshan Digital Account from abroad, supporting multiple countries and payment options.
RDA turns a simple digital account into a comprehensive banking payment and investment platform for the Pakistani diaspora. Account holders can invest in Naya Pakistan Certificates and the Pakistan Stock Exchange, access mutual funds, and even buy property.
Naya Pakistan Certificates (NPCs): Government-backed instruments available in PKR and foreign currencies with fixed tenors from 3 months to 5 years. Naya Pakistan Certificates offer attractive risk-adjusted returns and are accessible exclusively through RDA. Islamic Naya Pakistan Certificates use Shariah-compliant structures.
Pakistan Stock Exchange (PSX): Through Roshan Equity Investment, RDA holders can invest in shares listed on the Pakistan Stock Exchange. Stock market investments are executed via a designated brokerage house and settled through the Central Depository Company.
Mutual funds: NRPs can invest digitally in Pakistan-based mutual funds, including equity, income, money market, balanced, and Shariah-compliant options offered by licensed asset management companies.
Real estate: Funds in RDA can be used to purchase real estate in Pakistan, both residential and commercial, or to service home financing facilities. The Pakistani property market is accessible to NRPs through dedicated banking products.
Government securities: RDA allows investment in government securities and mutual funds, enabling investment across the full spectrum of Pakistan's capital markets.
RDA investments are subject to a simplified tax regime for NRPs, which we cover in the tax section below.
Roshan Equity Investment is the first fully digital avenue for NRPs to trade on Pakistan's stock market directly through their Roshan Digital Account. RDA holders can invest in the Pakistan stock market without being physically present.
Three entities work together in this ecosystem:
The bank hosting your RDA account
The Central Depository Company (CDC) maintaining your securities custody account and issuing a Unique Identification Number (UIN)
The broker executing trades on the Pakistan Stock Exchange
The standard flow works like this: you log into your bank's Roshan Equity Investment portal, give digital consent to share your details with CDC and NCCPL, and select a brokerage house from the approved list. The broker provides a trading account and access to its platform. Your RDA funds are transferred to the broker's cash account, and you place buy or sell orders for stocks, ETFs, or government securities. Executed trades settle through CDC on a T+2 basis, and your holdings are visible online.
RDA investors can switch brokers, but every change requires new consent and communication with CDC to remain compliant with stock exchange regulations.
Many overseas Pakistanis prefer professionally managed or Shariah-compliant investment activities instead of active stock trading.
RDA holders can invest in mutual funds offered by Pakistani asset management companies through their bank's digital portals. The range includes equity funds, income funds, money market funds, balanced funds, and dedicated Shariah-compliant funds that invest in halal stocks and sukuk.
Islamic Naya Pakistan Certificates and Islamic term deposits are structured under Mudarabah, Musharakah, or Wakalah-based models for those wanting fixed-income returns without interest.
Capital gains from shares and mutual funds are subject to a 15% tax. Investment risk, expected returns, and tax treatment differ by product, so NRPs should review each fund's offering document before subscribing.
This article is for information only and does not recommend any specific mutual funds, stocks, or investment strategies. Readers should seek independent financial advice.
RDA is more than an investment tool. It is a full-featured lifestyle account for managing obligations in Pakistan through a single payment system.
Typical transactions include:
Payment of electricity, gas, water, telephone, and internet utility bills
School and university fee payments
Government dues to federal or provincial governments
Charitable donations through formal banking channels
You can support family in Pakistan through instant transfers to local bank accounts, ATM withdrawals using an RDA-linked debit card when visiting Pakistan, and card-based e-commerce purchases. Many banks also extend car financing, home financing, and insurance products that can be serviced through the account.
Digital bill payments and transparent local transfers help NRPs maintain clear financial records and reduce dependence on informal cash channels.
Tax rules can change and vary by jurisdiction. NRPs must confirm details with a qualified tax adviser in both Pakistan and their country of residence. That said, here is the general framework as guided by the Federal Board of Revenue:
Profit on RDA deposits is tax exempt for NRPs. There is no withholding tax on RDA deposit profits. RDA deposits profit earned from savings and term deposits enjoy this exemption.
RDA deposits is tax exempt for NRPs. There is no withholding tax on RDA deposit profits. RDA deposits profit earned from savings and term deposits enjoy this exemption.
Naya Pakistan Certificates: A 10% tax applies on profits from Naya Pakistan Certificates for NRPs, deducted at source as a final tax.
Capital gains: A 15% tax on capital gains from shares and mutual funds applies.
No need to file tax returns in Pakistan specifically for RDA profits in most NRP cases. This simplifies tax compliance for account holders and reduces administrative burden.
Zakat: RDA deposits are typically exempt from compulsory Zakat deductions, though investors should check each bank's opt-out procedures.
Regarding repatriation, RDA holders can repatriate funds without SBP approval. Funds originally remitted from abroad, plus eligible investment proceeds, can be sent back overseas freely subject to standard anti-money-laundering checks.
NRPs must provide accurate FATCA and CRS information, including US tax status where relevant, and keep tax residency details updated. Using domestic Pakistani funds to top up RDA may affect its repatriable status. Only foreign-sourced funds should normally be credited.
Zakat: RDA deposits are typically exempt from compulsory Zakat deductions, though investors should check each bank's opt-out procedures.
Regarding repatriation, RDA holders can repatriate funds without SBP approval. Funds originally remitted from abroad, plus eligible investment proceeds, can be sent back overseas freely subject to standard anti-money-laundering checks.
NRPs must provide accurate FATCA and CRS information, including US tax status where relevant, and keep tax residency details updated. Using domestic Pakistani funds to top up RDA may affect its repatriable status. Only foreign-sourced funds should normally be credited.
Before 2020, NRPs had to rely on resident relatives or physical visits to a bank branch to open and maintain Pakistani bank accounts. Traditional accounts required notarized documents, embassy attestations, and in-person KYC.
| Feature | Traditional Account | Roshan Digital Account |
|---|---|---|
| Account opening | In-person, days to weeks | Fully online, ~48 hours |
| Investment access | Availability & processing methods vary by provider | PSX, NPCs, mutual funds, real estate |
| Repatriation | Complex, SBP approvals needed | Built-in, no separate approval |
| Funding | Correspondent banking networks; processing times vary. | Online providers like ACE Money Transfer offer digital transfer services. Rates and fees may vary. Visit acemoneytransfer.com for current rates. |
| Visibility | Dependent on branch visits | 24/7 online banking, mobile banking |
RDA is specifically designed for NRPs and foreign nationals, with features like full repatriation, tailored investment menus, and transparent tracking. International remittances routed directly into RDA via providers like Ace Money Transfer can be cheaper and quicker than legacy correspondent bank channels, especially for frequent smaller transfers.
Who can open an RDA? Non resident Pakistanis, Pakistan Origin Card holders, foreign nationals with valid identification, and resident Pakistanis with declared assets abroad are all eligible. The non resident status threshold is 183 or more days outside Pakistan in a tax year, per the Income Tax Ordinance 2001.
How long does account opening take? Most banks process applications within 24 to 48 working hours after correct submission. If the bank requests additional documents or a repeat video call, expect a short delay.
Are joint accounts allowed? Yes. Non-resident and resident Pakistanis can open joint accounts under specific conditions set by each bank. Signing authorities and permissions are configured during the account opening form submission.
Can I hold RDAs with multiple banks? Absolutely. Each bank requires a separate application, and each RDA account needs to be funded separately from abroad with its own IBAN.
What about minimum balance and account closure? Most banks impose no minimum balance. Account closure is handled through the bank's customer service, and any remaining balance can be repatriated. Repatriation transfer times depend on the recipient country, typically a few business days.
Where can I get help? Contact your bank's call center or reach the State Bank RDA support team at RDASupport@sbp.org.pk for policy-level queries.
Whether you want to invest in Pakistan's stock exchange, support family back home, or simply maintain a transparent financial presence, the Roshan Digital Account gives you a fully digital pathway to do it all from abroad. Start by choosing your bank, gathering your documents, and Start by choosing your bank, gathering your documents, and funding your account through a competitive provider like ACE Money Transfer to get the best value on every transfer. ACE Money Transfer allows you to send international remittances conveniently by creating an online account, entering the recipient details of your Roshan Digital Account, and paying via debit card, credit card, or online bank transfer. This platform offers attractive risk-free rates and ensures your funds are transferred securely and efficiently.
? How the Transfer Process Works
Register or log in to your ACE Money Transfer account using your email, Google, or Apple ID.
Choose Pakistan as the destination country and select the bank deposit payout option.
Enter accurate recipient details, including your RDA IBAN and account holder name.
Select a payment method such as debit card, credit card, or online bank transfer.
Add a payment reason (e.g., "Roshan Digital Account funding") and confirm the transfer details before clicking Pay Now.
Track your transaction in real-time using the reference tracking number provided.
? Available Payout Methods
Bank Deposit: Direct transfer to your Roshan Digital Account at participating banks.
Cash Pickup: Over-the-counter cash collection at authorized partner bank branches.
Mobile Wallet: Instant crediting to supported mobile wallet accounts.
For funding your Roshan Digital Account, bank deposit is the preferred payout method to ensure seamless and secure crediting of funds. Using ACE Money Transfer not only provides convenience but also competitive exchange rates and lower fees compared to traditional remittance channels. your account through a competitive provider like ACE Money Using ACE Money Transfer not only provides convenience but also competitive exchange rates and lower fees compared to traditional remittance channels. ACE Money Transfer allows you to send international remittances conveniently by creating an online account, entering the recipient details of your Roshan Digital Account, and paying via debit card, credit card, or online bank transfer. This platform offers attractive risk-free rates and ensures your funds are transferred securely and efficiently. to get the best value on every transfer.
Disclaimer: This article is intended for general informational and educational purposes only and should not be construed as legal, regulatory, tax, business, or financial advice. While reasonable efforts have been made to ensure that all facts, figures, and data are accurate and valid as of the date of publication, no warranty or guarantee is given as to the ongoing completeness, accuracy, or currency of the information.
The content is based on information available at the time of publication. Regulations, government policies, market conditions, and service offerings may change over time and vary across jurisdictions and providers. As a result, some information may no longer be current or applicable. Readers should independently verify all information and consult qualified professional advisors before making any financial, legal, or business decisions.
