After Hajj card, Pakistani digital bank launches US dollar account for freelancers
Pakistani freelancers often encounter obstacles in managing and receiving payments from clients, besides instant conversion to the local currency
With an estimated 4 million freelancers in the country, the initiative addresses the significant financial management challenges of the freelancers
KARACHI ( WEB NEWS )
Zindigi, a Pakistani digital bank, has launched its US dollar-based account for freelancers that is designed to empower Pakistan’s burgeoning freelancer community, the bank said on Thursday.
With an estimated 4 million freelancers in the country, the initiative addresses the significant financial management challenges faced by freelancers. Despite their large numbers, freelancers often encounter obstacles in managing and receiving payments from clients, besides instant conversion to local currency, according to Zindigi.
The Zindigi US dollar-based freelancer account aims to bridge this gap by providing seamless global transactions, allowing payments in US dollars to be deposited directly into the account, with conversion to PKR available as needed.
“Our US Dollar-Based Freelancer Account exemplifies Zindigi’s commitment to empowering freelancer community of Pakistan. Freelancers will no longer need to visit branches, deal with unnecessary questions, or navigate lengthy processes,” Noman Azhar, a top Zindigi official, was quoted as saying by the bank.
“With the Zindigi US Dollar-Based Freelancer Account, they receive best-in-class service tailored to their unique financial needs, including the ability to hold dollars in their accounts. By addressing these gaps with specialized financial solutions, we aim to boost the global earning potential of Pakistani freelancers while contributing to the country’s economic growth.”
This account is designed to be a gateway to global earnings, offering the ability to instantly open and maintain a US dollar account, enjoy the most competitive conversion and international transaction fees with the Zindigi debit card, obtain in-app account certificates, and easily receive payments from freelance platforms via an IBAN account number, according to the bank. Additionally, users can schedule and initiate recurring payment requests from clients, further simplifying their financial management.
“Zindigi US Dollar-Based Freelancer Account is set to make a substantial impact, serving and appreciating the vital contributions of Pakistan’s freelancer fraternity, which is increasingly becoming a cornerstone for the nation’s economic revival and sustainability,” it said in a statement, adding that interested Pakistanis could their Zindigi US dollar freelancer account by downloading the Zindigi app.
In May this year, Zindigi partnered with Pakistani financial service provider, MyTM, JS Bank and MasterCard to launch the Sullis Hajj Card to provide Pakistani Hajj pilgrims a cashless experience during their spiritual journey.
The financial product offered ease of transactions with reduced charges and almost no taxes otherwise applicable on all traditional cards during international transactions.