20 Dec 2022
Like many other developing countries, remittances are critical for Pakistan’s foreign reserves. Widespread Pakistani diasporas significantly add to the country’s GDP and economic strength when they send money to Pakistan from overseas. Remittance inflows to the country have seen great fluctuations recently, where FY22 recorded a massive $31.2 billion, albeit the inflows plummeted in the last quarter of 2022. Where the government of Pakistan have taken initiatives to boost remittance volumes, several factors like affordable transfer services, reasonable exchange rates, and credible providers can significantly help achieve the goals.
Undoubtedly seeking an economical money transfer service remains a constant concern for global diasporas. If they don’t find a solution with low fees, they end up consuming hefty sums in terms of transfer costs and other hidden charges associated with a global money transfer. Let’s find out how Pakistani expatriates can make low-cost money transfers to Pakistan and what things they must consider when opting for a service provider.
Although you see fascinating advertisements from several providers in the industry claiming to offer cheap money transfer services, you have to consider many factors if you want to avoid paying extra fees and ensure maximum funds transfer after converting your money from an international currency to the local one. Economic stability and better financial support back home can't be assured if you don’t get reasonable exchange rates and have to pay hidden charges.
The following guide can help you decide on the best and most economical money transfer method to Pakistan from overseas, alongside tips on what you must consider when choosing a service provider.
Every expatriate always has particular considerations, while some concerns remain common for everyone. Here are a few most critical factors that can make a considerable difference in your global money transfers.
Several Pakistanis still trust conventional methods like the Kerb Market to transfer funds owing to the exchange rates offered. However, hidden charges and static exchange rates with unaffordable transfer costs impose losses on the customers. Banks are another most-used yet the most expensive way to move money across international boundaries, despite being a familiar and trusted option.
Conventional methods don’t offer you the facility to track your transactions and check the status of where your funds. If you send money to Pakistan online instead of conventional methods, you can keep track of your transaction from initiation to completion, which provides peace of mind. Security, convenience, tracking, reasonable exchange rates, and transparent costs are some benefits that come with a digital money transfer.
Your payment method will play a significant role in determining the best way to send money to your loved ones back home through any money transfer company. Some forms of transfer are faster than others. Some are immediate, while others are less expensive. The best and cheapest way to send money internationally is using an ACE Money Transfer. Here are the most excellent payment options for sending money to Pakistan via ACE’s remittance solutions:
When it comes to financing your international money transfer with ACE, bank transfers are typically the most cost-effective alternative and come in the best global money transfer services list. Although bank transfers are slower than debit or credit cards, they usually provide the best value for your money.
It is a quick and straightforward method to pay for your transfer with a debit card. It's also frequently less expensive than using a credit card because credit cards are more costly to process.
Using a credit card to pay for your transfer is quick and straightforward. Several transfer providers accept Visa, Mastercard, and a few Maestro cards.
The payments may be collected immediately at any branch of the following central commercial banks in Pakistan:
Making an online money transfer to Pakistan via ACE Money Transfer to any of the above-listed banks is one of the most convenient and quickest options. Digital money transfer enables you to send and receive funds even on weekends and other holidays at any time.
Pay bills from anywhere globally, whether at home or on the road! In Pakistan, ACE Money Transfer offers the most effective bill payment services. ACE provides you with the most simple and smooth banking services while maintaining your privacy.
ACE Money Transfer enables you to send mobile top-ups to your loved ones in Pakistan from overseas and stay connected with your family. You may top up any mobile network service provider accessible in Pakistan with just a click. Manage your cell top-ups with Pakistan's most dependable services.
Using SWIFT to finance your transfer typically implies that it will take longer and be more expensive because your bank will charge a fee. It's also worth noting that other correspondent banks in the middle may deduct their handling costs. Your bank should be able to help you with such charges.
ACE Money Transfer is committed to providing the finest available remittance services. International money transfers are risk-free and hassle-free, and there are no fees for the initial transaction. Their platform takes the stress out of life.
Here are two simple methods for sending money to Pakistan online:
Customers can send money and manage transactions using the ACE web portal, accessed from laptops, tablets, smartphones, computers, etc. Their top-notch security mechanisms protect and secure your transactions no matter where you are in the world.
ACE’s user-friendly mobile app is accessible for both iOS and Android. With their app, you may send money to Pakistan from the palm of your hand. Make international transactions with a single button click, with the entire world at your fingertips.
When a loved one requires financial assistance, instant and secure services become a critical need. With ACE Money Transfer, sending money to Pakistan from any nation is rapid and straightforward, bringing us closer together. It is essential to select the top and cheap international money transfer service.
Do you know that ACE Money Transfer has offered Fee-Free money transfers to Pakistan in collaboration with Bank Al Habib? The firm has partnered with this renowned bank to augment remittance inflows to the country in line with the Pakistani government’s initiatives. So, Pakistani expatriates can make unlimited free transactions to Pakistan within 7 seconds. Besides, ACE Money Transfer typically charges the lowest transfer fees yet offers the highest exchange rates and the most secure and swift transactions. So, choosing ACE’s services is undoubtedly the best decision you can take as a Pakistani expatriate. So, join ACE family and benefit from the most advanced and economical money transfer to Pakistan from across the UK, Europe, Australia, Canada, and Switzerland.
