International remittance plays an integral role in the economy of Pakistan. Due to the fall of PKR against US dollar, economic downfall and political disputes, a considerable population has migrated from Pakistan to other countries for work purposes. Gulf Countries are considered to be the top preferred destination for Pakistani Nationals. These migrants have to send money to Pakistan, on a monthly or weekly basis.
In every transfer, safety is the utmost concern for any person. No one will ever want to lose his hard-earned money due to the security issues of the transfer process. Significantly, in the case of online money transfer service, the chances of getting trapped are enhanced even more. For avoiding all such issues, here are some tips which will help you in making efficient transfers.
1. What is the Importance of Choosing a Trusted Money Transfer Service?
Money Transfer providers possess a significant role in every international cash transfer. If you choose an unreliable or suspicious provider, not only your payment can get lost, but it can also be misused, which may lead you to certain legal liabilities. Before you send money online, it’s vital to choose a provider which has credible history and experience in the field, to avoid every uninvited issue.
Some of the trusted providers in Pakistan include Western Union, Ace Money Transfer and Transfer Wise. These companies are well-known and have pleasant customer reviews, which proves that they fulfil their commitments in actual.
2. Why You Should Not Use Informal Money Transfer Channels:
The Government of Pakistan has taken strict actions for the people who use informal channels for international transfers such as carrying it physically, sending through a friend/relative or hiding in the post letters. There is a high chance that if you make the mistake of sending money in a post letter, it will never reach the beneficiary.
Other than that, you can only carry a certain amount while doing air travel. The airport management can off-load you, or ask you to hand-over the cash to someone else. If you try to act over-smart and hide the money, keep in mind that you will be filed against money laundering and that is illegal in every state.
3. Can You Enter Card Details on Unknown Money Transfer Channels?
Money Transfer Industry has made massive progress in recent years. Timeless efforts have been dedicated to making this process safe and reliable. The South-Asian Countries such as Pakistan, Pakistan and Bangladesh are one of the top-remittances receivers, around the globe. So, if someone needs to send money to Pakistan online, it’s essential to ensure its security too. Slow Economic Growth is One of the Reasons Why Nigeria Send Money to Nigeria from Abroad
How to Beware of Frauds and Other Issues in Online Money Transfer?
Pakistanis often transfer money to Pakistan, when they live away from their families in other countries. They also need money transfer services if they have to receive payment from international clients. But the fact is that not all companies and banks provide excellent money transfer services. So it can be a challenging task to decide the best money transfer services for you. Most of the people prefer banks for their money transfer services as they consider it secure. Some people also prefer online money transfer services because they have their benefits.
What Are the Tips to Avoid Frauds in Money Transfers?
Every other person needs international money transfer services these days. A lot of money is being transferred abroad every year. But unfortunately, because of the increased use of these services, many hackers are heading towards this. They don’t want to miss any chance to earn money legally or illegally. So while considering any company to send money to Pakistan online, it would be better to identify if the company is trusted or not.
Send Money Online with the Following Factors in Mind
Before you send money online, here are some suggestions that will help you in identifying any issue:
- You have so many options that it is tough to pick up the right choice for you. So if you want to choose the right company for you, it is needed to compare the services of different companies.
- Exchange rates have a substantial effect on the amount you send to your loved ones living in other countries. Compare exchange rates offered by companies with exchange rates being traded in the market. If they are closed to the market rates, only then prefer their services.
- It is recommended to take services from trusted money transfer service providers. The top 10 companies of any country are selected based on customer reviews, service verifications, and easy accessibility. It would be better to consider top-ranked companies for services.
- Most people think that banks are safe for transferring money. But the fact is that banks are not even the best option for transferring money abroad. Their sites are also vulnerable to hackers. So before considering any choice, make sure to read all terms and conditions and know what they do in case of hacking activity.
There are several ways of transferring money abroad these days. Among so many options, it is almost impossible to choose the right choice. Comparing different companies can help you a lot in choosing the right choice for you. Frauds are common, so you need to be very careful while selecting the right option for you. Digital methods of online money transfer to Pakistan are suitable to consider. It is recommended to use ACE Money Transfer. They have a convenient mobile application ND website. You can send money whenever you want wherever you want while sitting in your home or offices. Try their services, and you will love their services.