Pakistan — SWIFT/BIC Codes & Payment Info

Overview

To send cross-border payments to Pakistan, ensure that you have all the required information from the beneficiary, including their full name, account details, SWIFT BIC, IBAN, and beneficiary bank address. Be aware that for non-resident companies and individuals, a 1% advance Income Tax might be applicable on certain transactions. It is advised to confirm any tax obligations with local regulations or financial advisors.

The remitter should obtain all required bank information from the beneficiary, and it is recommended to notify the beneficiary about the payment in advance.

For additional information, please refer to the Central Bank's website at www.sbp.org.pk.

Country Requirements/Restrictions

Additional supporting documentation may be required from the beneficiary. The beneficiary needs to complete the Inward Remittance form (Form R) outlining the reason for payment. The beneficiary’s bank must forward Form R to the correspondent bank before the funds can be released. If the beneficiary is registered locally as an NGO, INGO, or NPO, they may be required to provide the Memorandum of Understanding (MOU) signed with the Government of Pakistan and one of the following documents together with the Form R: Registration with Economic Affairs Division (EAD), Registration with Ministry of Interior (MOI).

For funding accounts based outside of the United States, donation and charity payments to individual beneficiary accounts cannot be supported.

Payment Formatting Rules for PKR

Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), full address including country code of the ordering customer. Use of initials can delay receipt of funds by the beneficiary.

Beneficiary Customer (SWIFT MT103 F59): Include account number (IBAN), full name (no initials), full address including country code of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary. IBAN numbers for beneficiaries with accounts in Pakistan must be included in the payment instructions.

Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier (where required), full name, and address of the beneficiary bank. SWIFT BIC is 8 or 11 alphanumeric characters: xxxxPKxx or xxxxPKxxxxx. Full beneficiary bank name and address is required to avoid payment delays. Beneficiary bank branch address can also be mentioned in F72 if only Swift BIC is included in field 57. Below format is acceptable for beneficiary bank details:

Format:

57A: Swift BIC code

72: bene bank branch complete address (Should be clearly indicated)

Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended. Purpose of payment of gift and donations are not permissible for individual beneficiary. Include the Remitter and beneficiary customer identity number e.g: NICOP/ Passport No./ CNIC/ Entity Registration No./ Any other Unique ID. (This information can be included in 72).

Additional Information: FX payments to Pakistan in PKR crediting a non-resident account are not supported. If the beneficiary banks with our onshore correspondent banks, the transfer is typically completed within 2-3 business days. If the beneficiary does not have an account with our correspondent banks, all transfers will be effected via banker’s draft and can take up to 5 business days to clear.