How Online Money Transfer to Pakistan Supports the Economy of Country?

The Islamic Republic of Pakistan is the fifth most populous country in the world. Pakistan is one of the most populated countries in the Islamic world too.

The population of Pakistan is exceeding 212.8 million according to the 2018 census done by the government of Pakistan. Almost 8.8 million people of Pakistan are living abroad among 212.8 million populations.

Overseas Pakistanis are working and living worldwide to earn and send money to Pakistan. After all, they want to provide a healthy lifestyle to their loved ones living in Pakistan.

Why do we need Money Transfer Services?

One of the most important things that everyone living abroad needs and uses is the money transfer method/service because they want to send money to Pakistan online from the UK.

In the early ’90s, people used conventional money transfer to Pakistan like money transfer through banks, cheques, bank drafts, etc. These all methods were commonly used by everyone living abroad at that time, there was no concept of online money transfer service.

What Problems People Usually Face While Doing Online Money Trasnfer?

Many people complained about the slowness of the money transfer process. There were many other problems that people faced while using those conventional methods, some of them were:

  • Heavy money transfer charges that were almost 10% of the total amount that is transferred.
  • Lengthy money transfer procedure because of filling unnecessary money transfer forms and then submitting that form and the banks’ money.
  • This does not end here after you have submitted the money transfer form along with the money you wish to transfer.
  • Now you have to wait for 2 to 3 days for your money to reach to your family because of the slow money transfer process.
  • Sometimes you cannot go to the bank because of bad health or heavy traffic in your area or due to some critical office meeting with the client.
  • Conventional methods do not provide any ease for the people if they do not come to banks because of any reason their money is not transferred.
  • The recipient also had to face a lot of problem s while receiving the money.

What are the Fundamental Steps to Proceed Online Money Transfer?

The online system of sending and receiving money is unique of its kind. It has eliminated all the problems people use to face while using traditional methods. The most extraordinary and beneficial qualities of online services are given below.

  • Transfer time is only 10 minutes so you will never be asked to wait for days and months.
  • Transfer fee meagre and easily affordable.
  • No involvement in money transfer agents has decreased the risk factor to a great extent.
  • A multi-currency exchange option makes you get rid of visits you and your recipient used to have currency exchange shops.
  • Various ways of payment add ease to your difficult life.
  • You can use online methods of money transfer from the comfort of your room couch.
  • Just an internet connection and a mobile phone or laptop will serve the purpose efficiently and effectively.

General Method of Money Transfer

The general process of sending money to Pakistan from the UK is given below:

  • register yourself at the website of the money transfer services you have chosen
  • enter your details
  • enter the details of the recipient
  • add the amount of money you wish to transfer
  • select a transfer method
  • Pay through the easiest way

If you find any problem in the process, connect to the help desk, and your problem will most probably be solved.

Wrap up

Remittances matter a lot for countries like Pakistan, so you add value to your country’s economy when you need online money transfer to Pakistan.

It is your right to get all the possible benefits while sending or receiving money and keeping in mind this thing online transfer system has been introduced. It reduces your tensions regarding transfer time, transfer rate, and problems like currency exchange.