Biggest advantage is that your money is saved from rupee depreciation. This is a major advantage. In 2008 the best return was obtained by those who kept their money in dollars because in that year the rupee depreciated by 27%.
The other advantage is that you don't get taxed on the amount in FC account. AFAIK FC accounts are not subject on inspection by tax authorities.
Its also easier to send wire transfer abroad if you have an FC account.
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Shouldn't 99% of the time credit or debit card will suffice!? I mean how many users pay through bank transfer for online purchase?
99% of users don't have credit cards because they are a hassle to get. 99% of Pakistan issued VISA debit cards DON'T work online.
I have had to pay using bank transfer in the past. It was the only option at the time. Now I have a ubl wiz card that works online so I don't have to do this anymore.
The disadvantage of FC account is that usually there is a fee for cash deposit. The bank calls this cash handling fee. Something like 55 paisa per dollar.
There is also the fact that you can't receive TT from foreign companies into your FC account. You can receive TT from individuals but not from companies. This is because of SBP rule forbidding you from depositing export returns in FC account.
Also FC accounts have large min balance requirement. At least $500 in some banks. So that is Rs. 40,000 that is blocked for the duration of the account.