Do you have relatives living overseas? Does your child study abroad? There are many reasons to send money abroad from Pakistan and finding the right transferring service will help reduce quite a bit of hassle during the process.
Let’s suppose that you send money to foreign countries from Pakistan on a frequent basis. And every time you transfer the money, you want it to be done quickly and accurately. You want it to have a reasonable transferring fee and a fair exchange rate. There is a chance that one of these goals won’t be met. Therefore, you need to choose the best suited option to send money abroad from Pakistan.
To help you guys, we’ve decided to tell you guys all about how to send money to foreign countries from Pakistan. So, make sure you read the entire article and find the answers you are looking for.
The best way to transfer money is through banks. But, unfortunately in Pakistan, not many banks allow the foreign transfer services due to concerns such as money laundering. To send money to foreign countries through banks, you need to open a dollar account in banks such as Standard Chartered, HBL, and MCB etc. The procedure is not simple for opening a dollar account which is why we advise you to contact your banker to warrant a professional advice.
Also Check: Sending money to Pakistan
Now without further ado let’s get straight to the point which is how to send money to foreign countries from Pakistan. Read on!
Transferring Money through Western Union
Western Union is the best and most reliable means of sending money abroad from Pakistan. Western Union boasts presence in more than 200 countries around the world. With over 500,000 agent locations worldwide, it is the easiest and safest way to send money anywhere in the world from Pakistan.
Note: You can send $3,000 US dollars or local equivalent per person, per day through western union.
So, how to do it? Read the following instructions carefully.
- In order to send money through western union, you have to visit the nearest western union agent.
- Tell the agent that you want to send money to a foreign country.
- The agent will ask a few details from you which are as follows
- Your full name as it appears on your CNIC
- Original and valid government-issued photocopy of your CNIC, NICOP or Passport
- Your occupation
- Receiver’s full name
- Receiver’s address (where applicable)
- Relationship with the receiver
- Purpose of the transaction
- Receiver’s bank account details (if sending money to a bank account)
- Additional information if required by the agent
- Now hand the amount intended for transfer, over to the agent.
- After that, the agent will give you the terms & conditions, and a disclaimers for your review.
- When you are done with signing and reviewing the disclaimer, a receipt will be given to you by the agent with the agent stamp and signature for your record.
- The agent will keep the second receipt that has your signature and photocopy of CNIC, NICOP or Passport attached during the fund’s transfer.
- After that, you can inform the receiver that you have transferred the money.
- Give the receiver a tracking number of the transfer, issued by the agent, which will allow the receiver to be aware of the whereabouts of the transferred money.
- When the money is available for pickup, the receiver can visit its nearest western union agent to receive the transferred money.
Note: Only personal money transfers are allowed through western union. You cannot make fund transfers for trade and/or commercial purposes.
Transferring Money through Money Gram
Money Gram is another international money transfer service. It is reliable and fast and you can send money anywhere in the world with Money Gram. The procedure for transferring money through Money Gram is as follows.
- Find the Money Gram agent near your location.
- You must carry the following information with you when visiting the Money Gram agent.
- Government-issued photo ID (CNIC, NICOP or Passport)
- Recipient full name and address
- The amount you want to send
- If you are transferring money to the receiver’s bank account, then you need to provide the receiver’s bank details as well.
- To transfer money to a mobile wallet, you have to provide the receiver’s mobile number with the regional code.
- After providing all the information and completing the send form, hand the amount over to the agent including the transaction fees.
- Take the receipt from the agent and share the 8 digit reference number with the receiver.
- The receiver can pick-up funds from the nearest Money Gram agent by providing the reference number and government-issued photo-ID.
PayPal is another great option to send money to foreign countries. But again, unfortunately, PayPal does not have operations in Pakistan. So, sending money through these digital services is not possible. Therefore, the above-mentioned ways are reliable and easiest way to send money from Pakistan.
This is all about how to send money to foreign countries from Pakistan. If you have any questions, let us known in the comments below.