Are you in need to send money to Pakistan? Want to transfer money but do not want to spend a huge amount of money on the transaction? Tried different banks and found that method too expensive? Worry no more because this article is for you.
Factors That Add to The Expense in Money Transfer:
Before we move ahead and discuss the cheapest way to send money online, lets discuss the factors that mainly influence the expense involved in international money transfer. The first factor is the exchange rate. When money is sent from country to another, the value of the currencies needs to be converted. This rate is known as the money exchange rate. It is always recommended that you check the exchange rate and transfer the money when it is the highest.
The second factor associated with the expense involved in international money transfer is the transfer fee of the service provider. Make sure that you discuss the money transfer fee with the service provider in detail. This will not only give you an accurate estimate of the amount of money that you will be expected to spend on the transaction but will also help you reduce the risk of being a victim to hidden charges.
Best Time to Send Money Cheaply:
Now that we are aware of the factors that add to the cost of international remittance, it makes sense to discuss how time chosen to carry out the money transfer affects the overall cost incurred. Money transfer service providers like ACE Money Transfer provide services throughout the year. But if you are looking to save some money while you send money to Pakistan online, it will be a wise choice to avoid the holiday season. This is the time of the year when a huge number of people are carrying out the transactions, the service providers are extremely busy and thus their service charges sky rocket during this time.
Using Banks for Money Transfer?
Many people rely on banks, when it comes to send money globally. This is because banks are one of the oldest means of money transfer. Moreover, there is no doubt about the fact that bank transfers are one of the safest considered methods of international money transfer. But the downside of this method is the fact that it is often expensive. Therefore, it is not the only choice, especially when you are looking for a cheap way to send money.
On the other hand, money transfer service providers offer not only a secure and reliable channel to send money to Pakistan but are ay more affordable as compared to banks. The pros of money transfer service providers include:
- Quick money transfer, because the money will be received within twenty-four hours of initiating the transaction.
- The method is a hundred percent safe and reliable. You can be certain that your money is in safe hands.
- This is by far the cheapest way of sending money to Pakistan. It is also a right option for those who want to save money while carrying out international money transfer.