Guides

Chalo, paisa bhejna hai Pakistan mein? Aao samjhte hain!

New regulations have changed the money transfer procedures in Pakistan. Whether you're supporting family or investing, attention to exchange rates, fees, and specific providers is important. Major Pakistani banks like HBL and UBL offer secure transfers but might lag in tech. Online platforms like Sendrater offer real-time rates and comparisons to help you with your selection. 

TL;DR:

• Transferring money to Pakistan involves navigating exchange rates, fees, and specific banking options. 
• Options include well-known Pakistani banks like Habib Bank and United Bank, as well as online platforms.
• Regulatory constraints require strict verification for both sender and recipient.

Whether for family, investment, or services, sending money to Pakistan is a common need. Banking in Pakistan is a mix of traditional and modern financial institutions. Major banks like HBL and UBL are commonly used for international transfers and have wide branch networks. Yet, they often lack the technological advantages that online platforms offer.

Some individuals opt for cryptocurrency for money transfers, but it's a riskier avenue. If considering this option, consult our guide on the use of cryptocurrency in money transfers.

Key Considerations

• Exchange Rates: The GBP/USD/ EURO to PKR exchange rate is obviously the most important variable. Pakistani banks often offer stable rates but might charge higher fees.
• Fees: Both sending and Pakistani institutions may charge fees for currency conversion and service.
• Speed: Money transfer speed varies from instant to a few days, depending on the service.
• Regulations: Both the UK and Pakistan have strict money transfer regulations, including identity verification.
• Accessibility: Urban areas in Pakistan have a dense network of bank branches and ATMs, but rural access may be limited.

Sendrater can help you make all these comparisons in a simple and easy to understand way. 

Methods of Transfer

• Bank Transfers: Traditional banks in Pakistan, like Habib Bank Limited (HBL) and United Bank Limited (UBL), offer secure but often slower services.
• Online Platforms: Services like SendRater provide real-time exchange rates and lower fees but require internet access.
• Money Transfer Services: Western Union and MoneyGram have extensive networks in Pakistan but can come with high fees.

Action Plan:

1. Compare rates and fees across different platforms, such as SendRater, and Pakistani banks to find the best option.
2. Consider the speed and convenience of the transfer method, especially if the recipient resides in a rural area.
3. Be prepared with all necessary documentation to meet regulatory requirements for a hassle-free transaction.
4. Use our (near) real time comparison tool to explore best money transfer rates to Pakistan.

Today's (06 Oct 2024) most favourable exchange rate for sending money from United States to Pakistan in USD is offered by TapTapSend at a rate of 280.00 PKR. Including all the fees the recipients will receive 28,000.00 PKR for your 100 USD. For other currencies, please visit our rates page.