Sending money to Pakistan & other parts of the world, i.e., across borders, is often a huge risk. One starts thinking of how he or she may lose money instead of getting it to the recipient. But now, as technology has taken its best turn, you can get an ideal deal of sending money to Pakistan and other parts of the world.
You can use the following bank account transfer alternatives and get the ideal services from them.
International wire transfer
Sending money to Pakistan using a banking system may be quicker and cheaper if the beneficiary bank has branches in other countries. For example, Habib Bank Limited has many branches in Pakistan.
In this case, it becomes a lot easier to transfer money to countries like Pakistan as you only get one-way charges. Moreover, Habib bank allows you to open a Foreign Currency account that enables you to get any amount into the account.
The cost per inward transfer is $5.00. when you are moving money from non-partner banks, the transaction fee gets a bit higher, and it might also take a lot longer for your loved ones to get this money transfer to Pakistan.
Money transfer service
Providers that include Western Union, ACE Money transfer, MoneyGram and Xoom are all such services that offer you online money transfer to Pakistan and across borders. Sending through these services is mostly cheaper, faster, and more reliable than the traditional banks.
All you have to sign up for is to get an account online using the website or mobile app. You may then pay for the transfer online or at any store and send it.
There are many options for paying the transfer online. For example, you may use your debit card, credit card, or bank debit. A credit card is the most expensive option because of the provider fees, but it also ensures that your total transfer gets to the recipient in minutes.
This method of transferring money is similar to the interbank transfer, except that the MTO comes in between to let you move the money faster. Most MTOs have now partnered with banks in Pakistan to offer this service.
ACE money transfer allows you to transfer money directly into banks such as Al Falah Bank, National Bank, and Habib bank limited. Xoom has around nine banks on its payout networks. It has also partnered with the stores there.
When you transfer remittances using this method, your loved ones will pick the transfer up as cash at its nearest location. ACE Money Transfer, MoneyGram, and Western Union have many cash pickup locations in the Philippines.
If you want to send money to Pakistan, knowing about the cash pickups will let your recipient have a trustworthy service.
Providers such as ACE money transfer have partnered with Easypaisa that is a leading e-Wallet company in Pakistan. As a result, sending money to Pakistan using this method is a lot faster and also cheaper.
You may require additional information based on the size of the amount you are sending or the location you are sending. These measures are a part of the global anti-money laundering and financial crime protection. So if you want to send money to Pakistan online, you should have the following information:
– The country and currency you are sending through
– The whole amount that you are sending
– How you need the recipient to receive money
– Cash pair you are converting between
– Whether having the lowest cost or the super-fast transfer time is a higher priority for this transaction you are making.