Emily Clarke

3 Ways to Send Money to Pakistan

Sending money across international borders requires more work than initiating simple bank-to-bank transfers in the United States. Stateside, banks can easily communicate with one another to complete wire transfers. However, most don't have the means to interact with banks globally. As a result, your money must go through several hoops, traveling through different networks to reach your recipient.

Fortunately, many methods are available to send money to people in Pakistan. These options vary in speed and cost, but they can safely get funds to loved ones.

International Bank Transfers

An international bank transfer is one of the go-to methods for sending money overseas. Not every bank has this option. Those that do often charge excessive fees. It's an expensive method, but it gets the job done.

When you initiate a transfer, it can take up to five business days to complete. The money has to go through various steps. Typically, banks use the Society for Worldwide Interbank Financial Telecommunications (SWIFT) network. It's a complex process that requires ample time before it's available to your recipient at their Pakistani bank.

Remittance Services

Another way to send money to Pakistan is to use a remittance service. In the United States, the most popular service provider is Western Union. Services like PayPal and Remitly do remittance, too.

Remittances are a convenient way to send money globally for many reasons. Usually, senders have several payment methods available. You can go online and use your debit card, utilize written checks, money orders, etc. Once you initiate the transfer, the remittance service provider will instruct its agents in Pakistan to deliver the funds. Your recipient may pick up the money at their bank or a local store, depending on the service you use.

Mobile Transfer

Finally, we have mobile transfers. Mobile transfers are the easiest and often most cost-effective option available. You can initiate transfers on your smartphone instead of going to a bank or remittance provider.

If your recipient has an account with the same mobile transfer service you use, they may see the funds in only a few hours. It's quick, convenient and doesn't come with as many added costs as other options.

Author Resource:-

Emily Clarke writes about cash advances, overdraft protection & finance apps. You can find her thoughts at financial app blog.