How International Remittance is the Backbone of Pakistan’s Economy?

A large number of overseas send money to Pakistan from different countries. We know that Pakistan is an underdeveloped country. The total population of Pakistan was approximately 212.7 million people, according to a census done by the government of Pakistan in the year 2018. Many of the people of Pakistan are currently living outside the country abroad to earn money so that they can provide a better and healthy lifestyle to their family and especially to their children. It was quite surprising to know that Pakistanis are the second most populous ethnic community which is living in the UK.

Also, according to research, almost 1.2 million people in Pakistan are currently living in the UK. These people send money to Pakistan, which is very beneficial for Pakistan’s economy. 

The government of Pakistan receives a handsome amount as a remittance on the money each overseas Pakistani sends to Pakistan. In the year 2018 to 2019, the government of Pakistan received worth USD 21 billion, which almost equalled the country’s total export bill. When a person sends money to Pakistan online, a little amount is deducted as a remittance by the government of Pakistan. Remittance plays an essential part in the country’s economy. 

What Are Different Old And New Money Transfer Methods?

As there are a lot of different old and new methods, you should choose a valid and reliable option to send money to Pakistan from anywhere in the world. 

Many people living abroad have gone through the difficulties in the conventional money transfer service, and they are looking for another option to remit money instantly to its destination.

 In the early 90s, it was very common that the vast population of the world goes for the traditional money transfer method that was the old conventional method, instead of using any other way for money transfer purposes. Some people also used to send their precious money through a money agent, he takes your money and delivers it to your family living in Pakistan by taking his commission amount from that money.

But in today’s world, due to the advancement of technology, the traditional money transfer method to send money to Pakistan has become a nightmare. The world is getting more digital and is depending on it. So a new way was introduced that was known as the online money transfer service (method). 

What Are The Benefits Of Online Money Transfers?

Online money transfer service provides many services; some of its best benefits are as follow:

Is It Fast Money Transfer?

It is a faster and more reliable method to send money anywhere in the world. Only five to ten minutes are required to send money to Pakistan from the UK.

Are There Affordable Money Transfer Charges?

The money transfer charges are easily affordable and very cheap for everyone who is living abroad. Online money transfer service not only saves your time but due to its remarkable benefits, it keeps your money as well.

Can We Send Money From Anywhere In The World?

Now you can send money from anywhere you want by using an online money transfer service. You need an internet connection and a mobile phone or a tablet for money transfer to Pakistan from the UK. 

Can You Have Thousands Of Cash Pick Up Locations Worldwide?

There are thousands of cash pick up locations in the world for the ease of the customers. Now the Recipient has the option to choose the most suitable and nearest cash pick up location in his/her area to receive the transferred money. 

What Is Multiple Currency Exchange Option?

If you are living in the United Kingdom, and want to send money anywhere in the world, you will send money with the help of an online money transfer service. It will provide the exchange of dollar currency to; 

  • Japanese Yen 
  • Polish zloty  
  • European Euro 
  • Danish krone 
  • Iranian Riyal 
  • Indian Rupees 
  • Pakistani Rupees
  • Bangladeshi Taka 
  • Nigerian Naira  
  • Kuwaiti Dinar

What Are The Method For Online Money Transfer Service?

Steps you can follow to send money anywhere in the world, especially in Pakistan, in this case, are listed below for the ease of your work. 

  • Search the online money transfer company on the internet, which is offering the online money transfer service. 
  • For your satisfaction, check the ratings, comments, and reviews of that company. 
  • Download the mobile app of the online money transfer service and get yourself registered in that app.
  • Enter the name, address, and phone number of the sender which is necessary to be entered. 
  • Now you have to enter the details of the receiver. 
  • Write the amount which you wish to transfer to Pakistan. 
  • In the end, select an easy method for cash payment.
  • At last press the SEND MONEY option.

After the completion of the task, the company will send you the confirmation email showing the successful completion of the transaction to the receiver. 

Wrap up:

International remittance is a huge contributor to the development of Pakistan. Whatever you send to your Pakistani family after earning matters a lot. It is crucial for both your family and your country, so you should search an option to which you can adhere for the rest of your life, and the online money transfer system indeed is that option.