MCB eAccount Opening Portal

FAQS

MCB e-Account Opening | FAQs

What is digital account opening?

With the MCB Digital Account opening portal, you can open your account digitally in just four simple steps.
a) Create your profile
b) Accept T&Cs
c) Upload a few documents
d) Review/ submit application

Who can open this account?

Resident Pakistanis with an active CNIC, a mobile number registered against their own CNIC and have a recent proof of income can apply for a new account digitally.

Which bank accounts can I open digitally?

You can choose from:

Simplified Digital Accounts
Asaan Digital Account (Hint: A simplified bank account (PKR) for customers needing general banking facilities and has a maximum monthly balance limit of PKR 1 million)
Asaan Digital Remittance Account(Hint: A simplified bank account (PKR) that is perfectly suited for customers who regularly receive remittances from abroad. It has defined limits for account balance, deposits, withdrawals and fund transfers)
Bank Account of your choice
MCB Bank is digitally offering various tailor-made bank accounts including Freelancer Digital Account both in local currency (PKR) and in multiple foreign currencies

Are there any charges to apply for a new account digitally?

Account opening through MCB e-Account is being offered free of cost. There are no hidden or additional charges. However, charges on any additional services such as Debit Card, Cheque Book, SMS Alerts, etc. shall apply as per prevailing Schedule of Bank Charges (SOBC).

What types of accounts can I apply for using this service?

You can apply for a wide variety of MCB Accounts in both current and savings variants in a range of currencies.

The following MCB Account can be opened digitally:

Current Account Variants
Pak Rupee	Other Foreign Currencies
MCB Asaan Digital Current Account MCB Asaan Digital Remittance Current Account MCB Freelance Digital PKR Current Account MCB Current Account MCB Basic Banking Account MCB One Current Account MCB Burqraftaar Account MCB Ladies Account MCB Senior Citizens Current Account MCB Pensioners Current Account MCB Fun Club Current Account	MCB Freelance Digital FCY Current Account

Saving Account Variants
Pak Rupee	Other Foreign Currencies
MCB Asaan Digital Savings Account MCB Asaan Digital Remittance Savings Account MCB Freelance Digital PKR Savings Account MCB Profit and Loss Sharing Account MCB Fun Club Savings Account MCB 365 Gold Account MCB Senior Citizens Savings Account MCB Pensioner Savings Account	MCB Freelance Digital FCY Savings Account

How is this account different from already available accounts?

The only difference is in the way the account is opened. These accounts can be opened digitally from wherever you may be, without needing to physically visit a branch.

My mobile number is not registered on my name, can I apply for an account digitally?

Unfortunately, no. As per regulatory directives, the Bank has to authenticate your mobile number with your CNIC which is mandatory for account opening.

How soon can I start using my account?

As soon as you get an email confirming your account number, you can start using your account for transactions. You transfer funds from your existing bank accounts through Inter Bank Funds Transfer (IBFT) or Funds Transfer (FT) services or from a cash deposit conducted from any MCB Bank branch.

Will there be any restrictions imposed on my bank account when opened digitally?

Upon activation of your account, you will be given 60 days to have your account biometrically verified from any branch in our wide network of 1400+ branches. Once the biometric verification of your account has been completed, there are no restrictions on your account.

10.

How can I get my account reactivated if I could not complete my biometric verification within 60 days from initial activation?

Any temporarily blocked account shall automatically be activated and regularized upon successful biometric verification and all transactional restrictions placed earlier shall be removed.

11.

Can a customer apply for multiple accounts through the digital account opening portal?

Yes, a customer can apply for multiple accounts using the digital account opening portal

12.

Shall Zakat be deductible on my account?

Yes, Zakaat is deductible on all Savings Accounts. In order to request for Zakat exemption, you will be required to upload a Zakat Declaration Form (CZ50) at the time of documents submission.

13.

What type of document(s) can I provide in lieu of profession and Source of Income / Funds?

Indicative List of Documents to Assess the Profession and Source of Income/Funds are as follows:

Self-employed/ Non-Salaried / Unemployed Persons

Employed/ Salaried Persons

Proof of Business/ Work* (Any one of the following documents

should suffice)

Source of Income/ Funds* (Any one of the following documents

should suffice)

Proof of Profession* (Any one of the following documents

should suffice)

Source of Income/ Funds* (Any one of the following documents should

suffice)

• Business/ Proprietor Letter Head; or any other Proof of Self Employment (e.g. Lawyer/ Doctor/ Consultant/ Freelancers/ Grocery Store/ Medical Store/ Labor Work etc.), OR

• Partnership/ Business Deed, OR

• Self-employed or unemployed women – Self-declaration, OR

• Valid Student ID Card/ Letter from Educational Institute, OR

• Valid Work Permit showing Business/ Nature of Work etc., OR

• Self-declaration (In case of Asaan Digital Account, Asaan Digital Remittance Account and Freelancer Digital Account), OR

• Any other Document evidencing the Profession

• Receipt of Payment against the Work, OR

• Account Statement, OR

• Particulars of Income/ Funds Providers (e.g. Family

• Members/ Guardian/ Stipends/ Social Benefits etc.), OR

• Tax Statement/ Return/

• Certificate, OR

• Self-declaration (In case of Asaan Digital Account, Asaan Digital Remittance Account and Freelancer Digital Account), OR

• Any other Document evidencing Source of Income

• Valid Job/ Employee Card, OR

• Employer/ Job Certificate, OR

• Employment Contract, OR

• Employer Letter, OR

• Work Permit showing Profession/ Employment

• Details, OR

• For Retired Persons, a copy of Retirement Letter/ Proof of Retirement, OR

• Self-declaration (In case of Asaan Digital Account, Asaan Digital Remittance Account and Freelancer Digital Account), OR

• Any other Document evidencing the Profession

• Latest Salary Slip, OR

• Salary Certificate, OR

• Payment Slips/ Record, OR

• Account Statement, OR

• Tax Statement/ Return/ Certificate,

• For Retired Persons, an evidence of Terminal Benefits/ Pension Book etc., OR

• Self-declaration (In case of Asaan Digital Account, Asaan Digital Remittance Account and Freelancer Digital Account), OR

• Any other Document evidencing Source of Income

As an alternate to above, customer can provide the following as source of income/ funds:

• Inheritance, OR

• Agriculture income, OR

• Investment in securities, bonds, shares, etc., OR

• Investment in property, OR

• Rental Income, OR

• Interest income

Both Salaried/ Non-Salaried/ Self-employed/ unemployed may derive their income funds from these sources as well.

*A single document showing “Proof of Profession and Source of Income/ Funds” may also suffice both the requirements.

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