29 Aug 2023
According to research, remittance constitutes roughly 4% of the annual GDP of lower-income countries. It is evident from the result that remittances play a vital role in boosting the development and success of a country. Sending money across borders has become an integral part of many people's lives, especially for those from countries like Pakistan. Remittances are not just transfers; they're lifelines, supporting families and driving economies. When sending money across borders, the role of providers proves critical. ACE Money Transfer is one of the leading remittance providers that enable expats from several countries to transfer funds back home. This article discusses how ACE Money Transfer is continually improving its services to boost remittance inflows to Pakistan. You’ll learn how you can also benefit from each money transfer to Pakistan made via ACE’s solutions.
Historically, Pakistan has always been among the top countries receiving a significant amount of remittances. These funds, sent by Pakistanis working abroad, have been crucial in stabilising the country's foreign exchange reserves. The country received $29 billion in FY21, and $31.2 billion was recorded in FY22 in remittances. However, remittance inflows to Pakistan have plummeted after FY22, creating an alarming situation for its economic prosperity.
From supporting households to boosting Pakistan’s foreign reserves, remittances play a pivotal role in the Pakistani economy. They've assisted in stabilising the country’s balance of payments and ensured economic growth even during tough times. Sound familiar? It's a bit like getting a bonus just when you need it most.
Founded in 2002, ACE Money Transfer has grown exponentially, providing remittance services to numerous corridors worldwide, including Pakistan. Its network now includes more than 375,000 payout partner locations worldwide, with services available across 100+ countries.
With features like competitive exchange rates, low fees, and reliable service, ACE was already a preferred choice for many. The company has always kept improving its features to serve the customers par excellence. It has added several more benefits for its customers that make it stand out.
In this digital era, ACE is embracing cutting-edge technology to facilitate faster and more secure transactions. Ever used an app that changed your life? ACE Money Transfer’s mobile app has already proved to be the most convenient and seamless process to send money to Pakistan from abroad. The firm is constantly working to further enhance its user interface to make customer experience aligned with modern-day trends.
Following are recently added new features that add to customers’ convenience.
Checking exchange rates is crucial when sending money home from abroad since it decides how much amount your recipients will receive. ACE’s new feature enables you to get rid of checking exchange rates time and again. You can request to get updates in your inbox without manually tracking them. These notifications will help you decide the best time for your transfer.
Customers can now request to add their desired payout options if they don’t see them already existing in the list.
It’s yet another fascinating feature-enhancing customer experience; every ACE customer can request to add a sending or receiving country to the list, which is not present for them when they initiate a transaction.
No more lengthy processes. ACE is simplifying steps, making sending money as easy as sending a text. Imagine texting money – that’s the future ACE envisions! Its customers already enjoy the fastest transfer time of merely 7 seconds to transfer funds to Pakistan from overseas, which is nowhere else to be found.
Ever felt the frustration of not getting the help you need? ACE is ramping up its customer service, ensuring that users have a smooth experience throughout. Proactive customer support with highly trained professionals is available 24/7 to assist customers in resolving their concerns spontaneously.
Time is money, and with ACE's innovations, transactions are almost instantaneous. For the Pakistani diaspora, this means more time with family and less time worrying about transfers. Sending money home from abroad in just 7 seconds enables overseas Pakistanis to stay connected with their families back home in every situation - no matter if it’s a bank holiday or late at night.
No more second-guessing if the money has reached your loved ones. ACE’s revamped system ensures transparency and reliability. It feels good, doesn't it? Enhances security protocols, live and competitive exchange rates, and the lowest transfer fees - all features are aligned, making ACE the most trusted service provider.
Along with countless other attractions, ACE Money Transfer ensures smooth, secure, and economical online money transfers to Pakistan. Let’s look at what ACE offers to its customers.
ACE Money Transfer has greatly reduced the cost of sending money to Pakistan. Traditional banks involved higher fees. They charged third-party fees, markup, and so many extra charges. These charges add up to a large amount of remittance loss. This practice of overcharging demolishes the remittance industry. ACE Money Transfer now removes this difference.
It gives you a very low and moderate rate compared to the market. The large cut in people demotivated people to send any money to Pakistan and lose it. Due to high fees, so many people refrain from spending money. The price offered by ACE Money Transfer is affordable and accessible for everyone.
It provides the best exchange rates. This is why the market of digital remittances is growing daily. If you want to know more about boosting remittance inflows, look at how are MTOs (money transfer operators) helping to increase remittance inflows in developing countries.
Overseas workers work day and night to save money and send it to their loved ones. They know the value of money because money earned is not easy. To keep their money's full security, they prevent money transfers. Because traditional banking was full of fraud. There were money enemies. Money sent was never received on the other end, and so many similar issues.
ACE Money Transfer has earned the badge of safest money transfer company in the world. They have end-to-end encrypted in fully secure ledgers. People prefer transferring their money in digital forms. Though cyber hackers are active, the chance of fraud is limited compared to the bank. ACE Money Transfer successfully gains its customers' trust, which is why yearly remittance growth in Pakistan is increasing.
Everything is transparent. People can track their transactions without any charges. This was also one of the vital pillars of gaining customers.
With companies like ACE Money Transfer pushing boundaries, the future of remittances to Pakistan looks bright. Enhanced services mean not only better support for families but also a potential boost to Pakistan's economy. Offering reliable service to send their hard-earned money to Pakistan from overseas, ACE encourages Pakistani diasporas to transfer more funds to Pakistan and help stabilise the country’s weakening economy.
In a world where financial transactions define relationships, innovations in remittance channels are essential. ACE Money Transfer, with its commitment to improvement, is setting the pace for a brighter, more connected future for Pakistanis at home and abroad. There is no doubt that ACE Money Transfer has improved its features to boost remittance inflows to Pakistan. It helps Pakistanis living abroad in every way possible so they can send money to Pakistan online from abroad through regulated channels. Together with ACE Money Transfer, every overseas Pakistani can play their role in supporting the country’s economic progress.
FAQs
How has ACE Money Transfer changed over the years?
ACE has continuously evolved, incorporating the latest technologies and streamlining processes for a better user experience.
What makes ACE different from other money transfer services?
The lowest transfer costs yet at the highest possible exchange rates, along with unbreakable security, make ACE different from the rest. ACE focuses on reliability, speed, and customer support, ensuring seamless transfers to countries like Pakistan.
How do remittances impact Pakistan's economy?
Remittances play a vital role in stabilising Pakistan’s foreign exchange reserves and supporting household expenses. Alongside running several households, remittances enable people to invest in various businesses that open employment opportunities to eliminate unemployment in the country.
What are the new features ACE has introduced?
ACE has embraced digital innovations, improved transaction speeds, and enhanced customer support. Further, the company ensures that its customers get the lowest transfer costs at competitive exchange rates.
Is it safe to transfer money using ACE's new features?
Absolutely! ACE prioritises security, ensuring safe and transparent transactions. It’s an FCA-regulated Authorised Payment Institution (API) that ensures strict compliance policies and anti-money laundering regulations.
