Send money to Pakistan

What is the best PKR exchange rate today?

Send money internationally to Pakistan (PKR) using the mid-market exchange rate. Check and compare the rates from the major financial providers.

The true cost of sending USD to PKR

How much does it cost to send money to Pakistan?

  • International money transfers shouldn’t be expensive.
  • Make sure your provider doesn’t add hidden fees or bad exchange rates to your money transfer.
  • You should choose a provider that uses the mid-market exchange rate to convert your money.

What are the payments methods to send money to Pakistan?

The available payment methods for your international transfer may vary. Most of the times these should be:

  • Debit Card.
  • Credit Card.
  • Bank Transfer.

How long does it take to send money to Pakistan?

How long does an international transfer take? It mostly depends on:

  • Countries you send from and to.
  • Public holidays or weekends.
  • Payment methods.
  • Potential security checks.

Who send money to Pakistan?

According to the UN department, Pakistan has the sixth largest diaspora in the world with 5.6 millions of Pakistanis actually living outside their country. The Pakistani diaspora refers to Pakistani citizens who have migrated to another country. A large majority of them are residing in the Middle East. On the 5.6 millions of Pakistanis living abroad, 1.3 million are in Saudi Arabia, 1.1 million in India, 950'000 in the United Arab Emirates, 480'000 in the United Kingdom, 340'000 in the United States. The majority of those migrants are mostly young men seeking for better job opportunities abroad.

All those Pakistanis abroad send money back home every year. Pakistan is the eighth country who receives the most of remittances from abroad. According to the recent report of the World Bank the country received more than 19 billion of US dollars in 2015, an increase of 41% compared to 2012. In view of the figures above it is not surprising that the remittances to the country mainly come from Saudi Arabia with $5 billions sent in 2015, followed by the United Arab Emirates ($4.7 billion), India ($2.3 billion), the United Kingdom ($1.4 billion) and the United States ($1.1 billion).

What are the ways to send money to Pakistan?

  • Banks: the most used way of transferring money to Pakistan although far from being the cheapest. Major banks in Pakistan are the National Bank of Pakistan, Habib Bank Limited, Soneri Bank, Muslim Commercial Bank and Askari Bank.
  • Cash international services: an easy way to send money to the country. Telemoney, Xpress Money, EzRemit and PakRemit provide cash services to Pakistan. And also the giants Western Union and Moneygram. Xpress Money and Pakremit can even deliver the money at the recipient's home.
  • Online money transfer companies: an easy and cheap way to send money abroad. Among them Azimo WorldRemit, Skrill, SmallWorldFS, UAE exchange and others.
  • Post Offices: you can also choose to send money by post in Pakistan.
  • Mobile phone services: some services allow to send money to a mobile phone. WorldRemit is a good example.

What are the ways to send money to Pakistan?

According to a study, below the average cost of sending money to Pakistan depending on the way you choose (banks, cash international services, money transfer companies and post offices):

We can clearly see here that the banks are to be avoided as it is from far the most expensive way to convert your money. Money transfer companies are the cheapest. There are a lot on the market. That's why you need to compare their rates before any transfer because the cost of the transfer will depend on several criteria such as the amount to send, the payment and delivery methods chosen and also the speed of transfer you need.

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