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How to send money to Pakistan

Find a fast, low-fee way to transfer cash to friends, families and businesses.

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Zak Killermann

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Shirley Liu
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Your local bank won’t be the fastest or cheapest way to convert your hard-earned Canadian dollars into Pakistani rupees. For that, turn to digital money specialists the flexibility to fit your budget, turnaround and other needs.

Compare money transfer services that send to Pakistan

Compare minimums, speed, fees and more when converting Canadian dollars to Pakistani rupees.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
Remitly International Money Transfers
CAD 10 Within an hour CAD 1.99 138.719 PKR
693,321
 Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options. 		Go to site Show details
XE International Money Transfers
CAD 1 Same day CAD 0.00 139.561 PKR
697,805
 XE has fast transfers with low fees and a range of foreign currency tools. Go to site Show details
Wise (TransferWise) International Money Transfers
CAD 1 1 - 2 days CAD 90.00 140.262 PKR
688,687
 Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How to send money to Pakistan online

Sign up and send money with a digital money transfer specialist in 4 steps:

  1. Sign up for an account. Pick a provider and sign up for a free online account using your contact information, proof of ID and preferred payment method.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their Pakistani bank account details.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Pakistan. Some money transfer providers send a text or email when your transfer is complete.

What’s the best way to send money to Pakistan?

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Pakistan. Some pair services with local mobile wallet companies like JazzCash. Banks, PayPal and other options are available but come with high fees, weak rates and long turnaround.

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Banks

Pakistani rupees aren’t a popular currency, which means banks may not offer them. If your bank supports rupees, beware of high fees and wide margins on the exchange rate compared to digital and other options.

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Cash transfers

Services like Western Union allow you to transfer cash for pickup at a local branch in Pakistan — often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak rates and high fees. If a cash pickup is necessary, look to digital services like WorldRemit or Remitly.

Blue icon representing money transfers Image: Infogram

Digital money transfer specialists

Companies like OFX and Wise specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer a variety of options for your recipient to receive your money, like to a JazzCash account or for cash pickup at an agent location.

Crunching the numbers: Sending $1,000 to Pakistan

Let’s say you need to send $1,000 to family in Pakistan. Here’s what you might face as far as fees and exchange rates as of May 3, 2020.

Bank transferCash transferMoney transfer service
Fee$50 + additional correspondent bank fees$9$4.99
Exchange rate1 CAD = 112.879 PKR1 CAD = 113.144 PKR1 CAD = 113.451 PKR
Transfer speed2 to 5 daysMinutesMinutes
Amount received107,237.05 PKR112,125.70 PKR112,884.88 PKR
VerdictSlowest and most expensiveBetter than bank transferFastest and best value

The bank transfer is slow and results in the smallest amount transferred to your recipient, given a weak exchange rate. With the specialist money transfer service, your recipient ends up with 5,647 more rupees. Speed is similar for a cash transfer and a money transfer service, both of which can arrive in minutes.

How to get the most out of your money transfer to Pakistan

Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Pakistan to meet your needs:

  • Exchange rates. The CAD–PKR relationship is relatively stable, so providers should offer exchange rates close to the mid-market rate. If they don’t, consider taking your business elsewhere.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the number of Pakistani rupees you’re sending.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers.
  • Minimum limits. Average incomes vary widely between Canada and Pakistan, which means companies with high minimums transfers may not be your best choice.
  • Transfer methods. Whether you want money sent to a Pakistani bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

Emergency cash transfer

When it’s more important to get your money to Pakistan quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to Pakistan without a bank account

Cash transfer services can help you if you’re unbanked or marginally banked. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.

Pakistani exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Pakistan’s exchange rate is flexible compared to the Canadian dollar, which means it shifts during large global events but typically doesn’t change much day-to-day. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Today’s exchange rate CAD to PKR

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Documents needed for sending to and receiving money in Pakistan

To send money to Pakistan from Canada, you’ll need government-issued ID and other documents, while documents needed to pick up money in Pakistan may be different by company.

Documents to send money from Canada

To send money from Canada to Pakistan, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s license, passport or other government-issued ID. Some services allow you to send transfers without ID, but they may require your SIN.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, Pakistani bank account and routing number.

Documents to receive money in Pakistan

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN (Money Transfer Control Number), a reference number or a tracking number, depending on the company.
  • Government-issued ID. A Computerized National Identity Card (CNIC), National Identity Card for Overseas Pakistanis (NICOP) or passport is typically accepted.
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender’s information. Take along your sender’s full name, the sending country and their address, if known.

What to watch out for

Typically, Pakistan imposes no restrictions on remittances to the country through banks and money transfer companies. But in Canada, banks and companies are required to comply with banking and recording standards that help them avoid the appearance of money laundering. These standards require customers to submit valid ID, log high-amount transfers and submit precise recipient information.

Bottom line

Sending your hard-earned money to Pakistan shouldn’t cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.

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