Standard Chartered Bank Bangladesh on Sunday introduced a dedicated banking service for freelancers, offering a fully digital and charge-free account named the ‘Standard Chartered Freelancer Account’.
The specially designed account was launched at an event at Pan Pacific Sonargaon Hotel in Dhaka to support the country’s growing freelancing community.
The service allows freelancers to open accounts from home without visiting a branch, and includes both foreign currency and local currency sub-accounts.
Freelancers will also receive debit cards for global transactions and can apply for credit cards and personal loans under this scheme.
Lutful Habib, managing director and head of wealth and retail banking at Standard Chartered, said that about 70 per cent of the multinational bank’s customers now use digital services. We’re adapting to changing habits as branch visits are down 46 per cent in five years.
Bangladesh Freelancer Development Society (BFDS) chairperson Tanjiba Rahman said that freelancers compete globally and should be respected for their contributions.
He noted that freelancers can receive their income directly into their accounts. This account is completely charge-free. Only government excise duties apply.
Bitopi Das Chowdhury, country head of corporate affairs, brand and marketing, said that Standard Chartered has been in uninterrupted service in Bangladesh for 120 years.
‘We’re now focused on digital banking to serve evolving client needs, especially freelancers. All services are accessible online and no branch visits needed.’
Naveed Hasan, head of deposits, explained that Freelancers working from home can now open accounts digitally, fill Form C for remittance, and access funds from any ATM globally. No other bank offers this level of convenience for freelancers.
This partnership with a multinational bank reflects growing recognition of freelancers in Bangladesh.
As global tech workers, we work paperlessly and mostly at night. Mobile-first, fast, digital banking is crucial for us, she said.
She stressed the need for this initiative not just for current freelancers but also for those considering freelancing as a career but feeling socially hesitant or insecure.
She noted that currently, there are around 1.05 million freelancers in Bangladesh, of which 650,000 are registered and verified. Despite the large size of this workforce, only about $1 billion of their annual income comes through legal banking channels. The rest can’t be counted because it doesn’t enter through official channels.’
He noted that many freelancers face harassment when dealing with banks that lack understanding of digital income sources. Due to these hurdles, freelancers often repatriate only 30 per cent of their income to Bangladesh, she said.
‘Doctors, engineers, even lawyers are freelancing now. With AI transforming work, many will work behind tech. We should focus less on how much freelancers earn, and more on what they do and what they know,’ she said.