Pakistani teenagers aged 13 to 18 will soon be able to open their own bank accounts and digital wallets under a new framework introduced by the State Bank of Pakistan. Teen accounts will support debit cards, mobile banking apps, and online banking, while credit and cheque book facilities will not be allowed.
Teenagers to Get Bank Accounts in Pakistan
In a Circular Issued on 1st April 2026, The State Bank of Pakistan has introduced a new framework allowing teenagers between the ages of 13 and 18 to open and operate bank accounts and digital wallets across Pakistan.
According to the central bank, the initiative is designed to promote financial inclusion and help young Pakistanis develop saving habits from an early age. The framework will apply to all banks, microfinance banks, and electronic money institutions operating in the country.
Under the new rules, teenagers will be able to open accounts either individually or jointly with a parent or guardian. The accounts will be available in Pakistani Rupees only, although they may also receive foreign remittances converted into local currency.
The SBP said these accounts can be opened both physically at bank branches and remotely through digital channels. Banks have also been instructed to ensure the account opening process is completed quickly, with most accounts expected to be activated instantly after verification.
To improve digital banking access, teen accounts will include debit cards, internet banking, and mobile app services. However, facilities such as cheque books, loans, and overdrafts will not be offered.
For security and compliance, teenagers will undergo identity verification through NADRA biometric checks or other approved methods. Parents or guardians will also be required to provide consent and accept legal responsibility for the account.
The central bank added that once the account holder turns 18, the same account can later be converted into a regular bank account after completing standard banking requirements.
The SBP has also directed banks to launch awareness campaigns and financial literacy programs to encourage teenagers and parents to use the new banking facility responsibly.