Do you know the common reasons for sending money to Pakistan? First, let’s learn the facts.
Do you know out of the total population of Pakistan which is almost 212.7 million people approximately 8.8 million people of Pakistan are living in other countries of the world, with the vast majority, over 4.7 million, living in the middle east of Asia? Similarly, 1,174,983 Pakistanis are currently living in the UK according to the census done by the UK government. According to research, Pakistanis are the second most populous ethnic community, which is now living in the UK.
Suppose you are a Pakistani and you are living in the UK. In that case, you should read this blog very carefully because it might contain some important information about the methods of money transfer that might be very helpful for you in the coming future. Some of the conventional methods that were used in the past for money transfer to Pakistan are still in use. This article will guide you in the best possible way by comparing both the money transfer methods.
What Are The Different Methods Used For Money Transfer?
Many different methods were used earlier by the people to send money to Pakistan from the UK. Those methods caused many problems for the people who were using these methods. Many people who were living abroad were looking for a solution. They were looking for a platform where they can get all the essential and necessary services needed for money transfer in one place.
The first method that in the early 90’s people commonly used was the old conventional money transfer method. In this method, you have to physically go to the bank and fulfill all the lengthy procedures then your money is transferred to Pakistan from the UK. The old conventional methods were very lengthy. Sometimes these methods take almost 5 to 6 days to send money to Pakistan online from the UK.
Conventional methods for money transfer include money transfer through banks, I.e. bank drafts, bank cheques, etc. Traditionally, usually, you have to pay a hefty transfer fee or transfer tax which was almost 10% of the total amount that had to be transferred. Also, there are a few cash pick up locations for the recipient to receive the money. Also, the recipient cannot choose the nearest location to receive the cash of his/her own choice.
Some people use to send their precious money through an agent. That money agent takes their money to their destination by taking his/her commission on that money. This method was very risky as you have to trust the agent, and you have to give all the amount to him/her.
Is Online Money Transfer Service A Blessing In Disguise?
Online money transfer service is the best available service to send money anywhere in the world from anywhere you want without facing any hindrance and in just a few minutes.
This service is not less than a blessing for the people who are suffering from the old conventional method.
Some of the benefits of the online money transfer service are a follow:
The main aim of the online money transfer service is to save your time, and this service saves your time due to its fast transaction of money. As it only takes less than five minutes to complete the transaction. Online money transfer service has thousands of cash pick up locations all around the world from where the recipient can receive the sent money.
Also, the Online money transfer service is significantly cheaper than other money transfer services because it has no hidden charges, and it takes only a small amount for a transaction. Online money transfer service provides us with the multiple currency exchange option—conversion of local currency or international currency into any currency you want.
Online money transfer service provides multiple currency exchange option for the ease of the users. It deals in the following currencies: Indian Rupees, Iranian Riyal, Bangladeshi Taka, Nigerian Naira, Japanese Yen, Danish krone, Pakistani Rupees, Kuwaiti Dinar, and European Euro etc.
What Are The Easy Steps Of Using Online Money Transfer Services?
Many companies are providing online money transfer to Pakistan. You can choose the best company by reading the comments and reviews given by the people who have already used that service also you can check the ratings of that service. This will help you to choose the best company for money transfer. Some simple steps for transacting money through this process are listed below;
- First of all, download the mobile application of the online money transfer service company from google play store.
- Make your account by entering your name, address, phone number, your country code, etc.
- Now enter the recipient’s name, address, phone number, country code, etc.
- Now enter the amount you want to send to Pakistan from the UK.
- Now select an easy method for money payment.
- At last, submit the form by clicking the SEND MONEY option.
- A confirmation message will be sent to you and the recipient after the completion of the transfer.
- In case of any problem immediately contact the helpline of that app or visit the website for further support.
Online money transfer service is a saviour for the people who are living away from their families and have to go through a lot of pain to transfer money to Pakistan. It has made the process a few touches away and unbelievably smooth.