Transfer money to Pakistan through your bank, a money transferring service, or via checks or telegraphs, according to Finder. Money transferring services such as Xoom and PakRemit usually offer better exchange rates and lower transfer fees than bank transfers, often making them a more efficient option.Continue Reading
Finder lists a few important criteria you should use when comparing money transferring services. These include exchange rates, transfer fees, turnaround times, minimum transfer amounts, and transfer methods. In addition, some companies such as Moneygram and Western Union allow the recipient of the money transfer to collect it in cash from an agent in Pakistan.
A World Bank chart lists PakRemit as the cheapest overall money transferring service, costing $4.58 to send $200 to Pakistan, as of 2015, with a transfer speed of six days or longer. According to the same chart, Moneygram and Western Union offer the fastest transfer speeds of under one hour, but cost $13.60 and $15.64, respectively.
If your money transfer is sent in cash, instruct the recipient to note down the transaction reference number and bring along a photo ID, according to Finder. Before transferring the money, ensure that the money transfer agent has sufficient funds to complete the transaction.Learn more about Personal Banking