State of Money Transfer in Pakistan

Money transfers are widely used throughout Pakistan. The major form of this transfer is electronic and the major customers are businessmen and people employed in cities away from their homes. With the growing number of transactions each day, several services are being established throughout the country each promising better facilities and convenience for their customers and hence a very tense competition is taking place. The most commonly used methods for money transfer in Pakistan are transferring through banks and through the services offered by several mobile networks. Moreover, in this race of attracting more and more customers, the services are doing their best to make the transfers as quick and convenient as possible.

A very good example of this is mobile banking, which is offered by several leading banks throughout Pakistan and it allows the customers to make any sort of transaction sitting at home. They can make important money transfers, purchases and even pay bills. The transfer services like Easy Paisa and Jazz Cash, on the other hand, are somewhat more convenient. The first benefit is the availability i.e. these services are available 7 days a week and their retailers can be found easily in various small shops. Secondly, no account is required in case of an emergency transfer which means the mobile number and biometric of the recipient person is all that is going to be asked for. However, the percentage of charges in these services can often be quite disturbing for some people. Especially when transferring a heavy amount.


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