Six Bangladeshi banks offer freelancer accounts with free ERQ maintenance. They differ on cards, opening documents and whether you need a Freelancer ID. EBL makes the ID optional, Midland accepts a marketplace profile screenshot, Standard Chartered offers digital opening, and City Bank includes a free half-yearly remittance certificate.
Our banks in Bangladesh guide covers general banking products across the wider market.
What a freelancer bank account does
The packages below pair a foreign currency ERQ account with a taka account. Their international and local card options differ.
A USD account (ERQ): Holds the share of your foreign earnings you are allowed to keep in dollars. Our ERQ account guide explains the rules.
A taka account: Receives the rest, converted at the bank's rate.
An international card: Lets you spend your dollars on approved costs such as software, domains, hosting and travel. Our dual currency card guide covers how these cards work.
Your bank issues remittance certificates and processes cash assistance claims for eligible export earnings.
The 2026 rules for freelancer accounts
Bangladesh Bank raised the ICT retention limit to 50% on July 22, 2026. Its consolidated export circular of July 30, 2026 carries the current rules.
ICT exporters can retain up to 50% of qualifying net foreign currency earnings, and other legitimate service exporters can retain up to 30% of repatriated receipts. Our ERQ account guide explains the receipt bases and allocation.
Banks can accept emails, contracts, invoices and platform statements as evidence.
Bangladesh Bank has discontinued Form-C and Form-C (ICT) for inward remittances received through secure banking channels. Banks collect payment information digitally instead.
Bangladesh Bank's rules also allow dual currency Freelancer Cards for receiving eligible foreign earnings and spending retained funds on permitted purposes.
Freelancer accounts compared
Bank and product | Accounts | Card | ERQ maintenance fee | Freelancer ID |
|---|---|---|---|---|
Non-interest USD account plus BDT account. Zero opening balance | Freelancer FCY debit card for use abroad. Not usable at domestic ATMs or POS | None on the ERQ account | Optional | |
Non-interest USD ERQ current account plus BDT savings account, opened in one visit | Free international debit card on the ERQ account. Dual currency debit card on savings, no first-year charge | None on the ERQ account. Free half-yearly remittance certificate | Required | |
USD and BDT accounts. Zero balance opening | ERQ Visa card free in year one, then up to $10 annually; local debit card also available | None on the ERQ account | Marketplace screenshot or work/payment order accepted | |
ERQ account plus BDT savings account, one application | International debit card on ERQ. Dual currency debit card on savings | None on the ERQ account | Not stated on the product page | |
Non-interest current account with USD and BDT parts. Any opening balance | Foreign currency debit card, zero card fee | Zero | Listed with e-TIN in the application documents | |
ERQ in USD, EUR or GBP. Needs an existing MDB account | Not stated | None | Freelancer ID or marketplace profile screenshot |
ERQ maintenance is free at all six banks in this table. Card fees and charges on the linked taka account are separate. BRAC Bank's September 1, 2026 schedule makes its ERQ Visa card free in year one, then charges up to $10 a year. Its linked Matrix taka savings account has no half-yearly maintenance charge at an average balance of Tk10,000 or below. The charge rises through balance tiers to Tk300 above Tk10 lakh (Tk1,000,000). VAT applies to chargeable banking services, with the schedule's export-service exception.
Which freelancer bank account fits your needs?
EBL freelancer account
EBL offers zero-balance opening and makes the Freelancer ID optional. Its FCY debit card works abroad and online. Our dual currency card guide covers card options for local and foreign spending.
BRAC Bank freelancer account
BRAC Bank accepts a marketplace screenshot or work/payment order. Its Matrix package pairs USD and taka accounts with zero-balance opening.
City Bank freelancer account
City Bank opens its ERQ and taka savings accounts in one branch visit and includes a free half-yearly remittance certificate. Bring a Freelancer ID and e-TIN.
Standard Chartered freelancer account
Standard Chartered offers digital opening and a foreign currency debit card with no card fee. Its checklist includes a Freelancer ID and e-TIN.
MTB freelancer account
MTB opens the ERQ and taka savings accounts through one application, with separate international and dual currency debit cards.
Midland Bank freelancer account
Midland offers ERQ accounts in USD, EUR or GBP to existing MDB customers. It accepts a Freelancer ID or a marketplace profile screenshot.
Bangladesh Bank cash incentive
Bangladesh Bank's July 5, 2026 circular sets a 2.50% rate for individual freelancers exporting software and IT-enabled services in FY2026-27. Keep invoices, proof of exported work and bank remittance records for a claim. Eligibility depends on the scheme's conditions and audit.
Documents for opening an account
Prepare these identity, address and work records for your application:
NID, passport or birth certificate, plus photos of you and your nominee.
Proof of address, such as a recent utility bill.
Proof of freelance income: work orders, contracts, emails or platform statements.
A Freelancer ID and e-TIN at some banks.
Where a US receiving account fits
Get paid by US clients and platforms using the USD routing and account numbers in your Elevate Pay app.
With Elevate Pay, you can receive USD from clients and platforms by ACH for free. Our local bank payouts in Bangladesh cost $1.50 and arrive in taka. Bank payouts sent before 12 PM Sunday to Thursday arrive the same business day; later payouts arrive the next business day. bKash payouts with correct recipient details arrive in real time.
Bloom Financial Technologies Inc, trading as Elevate Pay, is a financial technology company, not a bank. Banking services are provided by Merchants Commercial Bank, Member FDIC.
Frequently asked questions
Can I use a normal savings account for freelance income?
Yes. Your bank can receive foreign earnings and convert them into a regular taka account. A freelancer package adds an ERQ account for retaining the permitted foreign currency share, plus a card for approved spending from that balance.
How do I compare banks' dollar rates?
Use each bank's published USD buying rate for the day and subtract its receiving and conversion charges. Compare the final taka amount for the same USD payment. For example, Tk121 per dollar with no receiving charge gives Tk12,100 on $100; Tk122 with a Tk200 charge gives Tk12,000. These are illustrative rates.
Can I open a freelancer account online?
Standard Chartered advertises end-to-end digital freelancer account opening. BRAC Bank offers an online application form, while City Bank describes opening its linked accounts in one branch visit.
Do freelancer ERQ accounts pay interest?
The EBL, City Bank and Standard Chartered pages describe their freelancer USD accounts as non-interest bearing.
Pick your bank
Choose EBL for an optional Freelancer ID, Midland for the marketplace-profile document route, Standard Chartered for digital opening, or City Bank for its included remittance certificate. Choose the card separately: EBL's FCY card cannot be used at domestic ATMs or shops.
How we checked this
We reviewed the six banks' official product pages, BRAC Bank's September 1, 2026 fee schedule and Bangladesh Bank's July 5, July 22 and July 30 circulars on October 2, 2026. We used the circulars for retention and incentive rules, and bank sources for product features and fees. We did not open accounts.
Recent Articles
DO MORE WITH ELEVATE PAY
Transfer money with Elevate Pay with low fees and competitive FX rates. Our users love us for transparency, security and more.
