May be this question has been asked here before but in the light of our Imran Khan's speach, I think its worth posting this question again. Can someone provide guidance on how to send money to Pakistan using Banks? I am more interested in knowing how to do it from Canada but I am sure overseas Pakistanis from other countries would like to know it as well. In this age with an online banking so common, my hope is there are ways of accomplishing this quite easily.
How to send money to Pakistan via Banks?
- Thread starter palm_snow
- Start date
LovePK-or-LeavePK
Senator (1k+ posts)
All legal channels are fine. You can transfer from your account in Canada to account in Pakistani Bank directly. You will needs IBAN number of the recipient in Pakistan. Then contact your bank in Canada, they will tell you your limit and fees involved to initiate such transfer.
Also all approved services by STATE BANK OF PAKISTAN like Western Union, MoneyGram, Xoom, RIA etc. etc. are also fine.
Only say NO to Hundi/Hawala.
Also all approved services by STATE BANK OF PAKISTAN like Western Union, MoneyGram, Xoom, RIA etc. etc. are also fine.
Only say NO to Hundi/Hawala.
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PTI-Zindabad
MPA (400+ posts)
I believe Western Union is one such way. I'm definitely transferring money - $10K to start iA.
shahidkhatak
MPA (400+ posts)
try online united band remittance i use to send through it i find it really quick and efficient
https://www.ubluknetremit.com/Home.aspx
https://www.ubluknetremit.com/Home.aspx
HSiddiqui
Chief Minister (5k+ posts)
Sending money through a registered money exchange, and receiving money either in your bank account in Pakistan or going to the Bank and collecting money from any branch.
Never send money through HUNDI. Hundi people will give you some paisas more than the registered money exchange,and they will deliver money to your home, but it is illegal and comes under money laundering, and makes your money a black money.
Never send money through HUNDI. Hundi people will give you some paisas more than the registered money exchange,and they will deliver money to your home, but it is illegal and comes under money laundering, and makes your money a black money.
HSiddiqui
Chief Minister (5k+ posts)
Western union is one of the registered money transfer facility, but there are many DAISYs who are in money transfer business legally and they send your money to a bank in Pakistan, I prefer them over Western Union
Thanks. I used to use UBL when I was in US. It was so easy to send money to pakistan right from the comfort of your own home. But since I moved to Canada, that service was not available in Cananda. I am going to give it a try right now.
I have used Western Union in the past but it has bad reputation, so I am not sure if sending via West Union is most beneficial way of sending money back home that that our country needs.
All Pakistani banks provide online remittance facility, money can easily be transfered online
LovePK-or-LeavePK
Senator (1k+ posts)
Save this for now. Asad Umar is going to give details of an investment scheme for overseas Pakistanis. You can use this money for buying those bonds which will directly help government and good ROI for you.
How can I know which services use Hundi. I use https://www.finmarkfinancials.ca/. Through online banking I transfer money to finmark and then they have some mechanism to send that money to my mother's bank account. Is there anyway I can know how finmark transfers money? I can always ask them but not sure that's the best way to determine this.
Iconoclast
Chief Minister (5k+ posts)
Transfer it directly from your bank, western union will cost you an arm and leg.
LovePK-or-LeavePK
Senator (1k+ posts)
Hundi/Hawala is where someone in Canada collect your money, then tell someone in Pakistan to give cash to your family. That way your money never leaves Canada and Payment is made in Pakistan. After 9/11 it is totally illegal, but I heard that some people still do it like some importers for under-invoicing and some travel agents etc. etc.
Just use only those services which are approved by Government of Canada. I never used or heard of Finmark. So can't really comment about them. I am from US and I always use Western Union or MoneyGram. If amount is bigger then directly from bank to bank account. Bank charges per transaction fee which is not suitable for small amounts but good for bigger amounts.
That's the exact question I need an answer for. How to transfer money directly from my bank?
Iconoclast
Chief Minister (5k+ posts)
They need to sort out this cryptocurrency mess as well and maybe collaborate with exchanges like binance/gdax to place a system. I've had clients pay me in btc and I don't know what to do with it.
How can I know which services are approved by Government of Canada?
Iconoclast
Chief Minister (5k+ posts)
You need some info of the receiving bank/account. In most cases it will ask you for an iban number of the account that you want to send money to. That's all you need. First name, last name, iban number, amount you want to sell. You can go to your bank and they will guide you.
Iconoclast
Chief Minister (5k+ posts)
The safest method is bank transfer. Do keep in mind that western union/moneygram etc are meant for sending money to your family, loved ones, not huge transactions to move funds between accounts.
