This is a story of one of the overseas Pakistani!
Pakistan is a fantastic place to live in. But when I was offered with an attractive salary package, I moved out of Pakistan, leaving my family behind. I faced a lot of troubles at new place initially.
I did not have any bank account there, so I always had to carry cash with me. Due to this also lost money. I did not have time to go to a bank to open a bank account, and I needed it badly to save money.
Receiving a salary would also be easy if I had a bank account. So, one of my friends told me to open an online bank account. He said to me that using this online bank account, and I can also send money to Pakistan to my family quickly.
So after his suggestion, I made my bank account online. I became easy for me to stay at a new place as I was able to transfer funds to my family, paying bills and shopping online.
Here is some information regarding opening your bank account online if you are planning to do so:
What are the Requirements of a Money Transfer Account For Pakistan?
The first and foremost thing you have to provide for opening an online bank account is your personal information. It helps them to verify your identity.
An initial deposit to make a new account may also require sometimes. Once your account is created, and the process is completed money transfer to Pakistan, or any other country is easy.
For opening an online bank account, you need to provide the following information: Personal information including, Tax ID number, social security number, date of birth or any other government-issued ID numbers along issued and expiry date.
Contact information including email address, home address and phone number
Are There Some Challenges You May Face in Online Money Transfer?
Online money transfer to Pakistan is best, as you do not have to go anywhere to do necessary tasks. Sometimes it becomes essential to visit the nearest bank branch because of the following reasons:
If you have citizenship for a country, opening account online is simple. But If you do not have one, then visiting the nearest branch is necessary.
Most banks allow you to open bank online entirely, but you may have to visit the branch for opening account for a trust, business and some other organization.
If you are not using your credit cards and the bank finds nothing, they might want you to visit the bank with a government-issued ID to verify your identity.
I have been living abroad for the past seven years. I left my country Pakistan and came to England to resume my higher education. By the end of my Postgraduate degree, I had been offered a great job here.
So, I decided to join the company and start my career here rather than going back to my home country. During these years, there have been multiple instances where I have had to send money to Pakistan.
I have tried almost all the available mediums for these purposes. Sometimes I have had a commendable experience whereas other times, and I have been scammed as well.
Through my experience over the last seven years, I have compiled a list of characteristics that I feel every trustworthy and reliable service provider has:
1. Low Transfer Fee
The process of sending money to Pakistan can be expensive. Therefore, I always look for a service provider that provides services at the lowest possible transfer fee. This is especially important for people who have to send money to Pakistan online regularly.
2. Higher Money Exchange Rate
Other than the transfer fee, the significant additional expense involved when one has to send money online is the exchange rate of the currency involved. When searching or a service provider, I ensure I opt for the one that offers a higher exchange rate. This way, I can send money home and be worry-free knowing that the family will get the maximum return for the funds transferred.
3. Quick Transaction
More often than not, one finds himself in a situation where he has to send money back home on an urgent basis. For instance, there can be a medical emergency or some unavoidable expense.
The money must reach the destination as quickly as possible. Hence, I have concluded that the right service provider is the one that offers transactions at the lowest time possible.
4. Safe Channels of Money Transfer
Money is an important asset. No matter whether the amount is small or big, whether it is a regular transaction or a onetime one, everyone wants to know that their money is in safe hands.
Many scammers in the market steal money from the customers or often use mediums of money transfer that are unreliable. Always trust a money transfer service that makes use of secure and safe channels to send the money to Pakistan.
5. Legal Channels of Money Transfer
When sending money to Pakistan, the last thing you would want to experience would be to get in trouble with legal authorities. International money transfer is a sensitive matter, and many countries have strict rules and regulations in this regard. Ensure that the service provider you choose is using legal channels to send the money to avoid any trouble.
As a result of thorough research, there is only one service provider whom I have found to be the best. And that is none other than ACE Money Transfer. I would highly recommend their services. For a money transfer to Pakistan, I believe they will never let you down.
Opening bank account online is a simple process. Some banks allow you to complete the whole process online, but in some cases, you have to visit the branch in person. Once your account opening process is complete, you can easily send money online to your loved ones.
You can pay your bills and enjoy online shopping. Consider reputed money transfer companies if you want to send money to your loved ones. Give them a try, and you will like their services.