How to Save on Fees and Send More Money to Pakistan

Information verified correct on January 23rd, 2017

Find the most cost-effective and convenient way to make an international money transfer when you send money to Pakistan from the United States

Send money the USA to Pakistan

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Pakistan doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most Pakistani rupees for your dollar.

From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Pakistan is easy. However, do your research and shop around for the best available deal.

Rates last updated January 23rd, 2017

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Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Payoneer International Money Transfers
Send Mass Payments To Your ... Send Mass Payments To Your Payees Worldwide
USD 20
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
WorldRemit International Money Transfers
An online money transfer service ... An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
USD 500 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
Transferwise International Money Transfers
Make online transfers in a ... Make online transfers in a range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money between 20 currencies ... Transfer money between 20 currencies and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Currencies Direct International Money Transfers
$0 online transfer fee that ... $0 online transfer fee that you can access 24/7.
USD 100 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Exclusive offer: Special exchange rates ... Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
Rates are always
changing, click to check
your price today
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TorFX International Money Transfers
TorFX guarantee to beat any ... TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More

Banks versus money transfer companies/services

If you need to send money to Pakistan, you may approach your bank to initiate the transfer. However, if you use a major bank to complete the global money transfer, you most likely won’t receive a competitive exchange rate on your transaction, and you’ll have to pay sizable fees.

For a more cost-effective option, why not check out the services provided by a specialist money transfer company? These providers, such as Xoom and PakRemit, provide online transfers from the U.S. to Pakistan with better exchange rates than  banks, and lower transfer fees.

Yousuf sends money to Pakistan

Yousuf works in the United States and he wants to send $1,000 to his wife back in Pakistan. Although he knows his bank can take care of the transfer, Yousuf is put off by the bank’s low exchange rate and high fees. In an effort to save money, he compares the services of two  online money transfer companies.

Transfer company 1Transfer company 2
Exchange rate$1 USD = $99.40 PKR$1 USD = $100.08 PKR
Transfer fee$20$5
Transfer methodBank account depositBank account deposit
Processing timeWithin minutes2-4 business days
PKR Received$99,400 PKR$100,080 PKR

As the table shows, not only can Yousuf save $15 in transfer fees by using the second money transfer provider, but will also see his family receive 680 extra rupees.

How to compare transfer companies when sending money to Pakistan

  • Exchange rates. The exchange rate impacts how much money arrives in your recipient’s account, so see how each provider’s rates stack up against the competition. However, don’t forget that providers with better exchange rates may also charge higher fees.
  • Transfer fees. Transferring money overseas will usually incur a transaction fee, and these can range from $3 to $25 or more. Once again, remember to examine fees alongside the exchange rates offered by a provider.
  • Transfer methods. While some providers only allow you to make transfers online, others will allow you to send funds over the phone or by visiting a branch.
  • Transfer options. Can you lock in an ideal exchange rate now and transfer the money later, known as a forward contract? Does the institution offer limit orders, which allows you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met? Can you schedule recurring payments?
  • Turnaround time. If you need to send an urgent transfer, some providers allow you to send funds that become available for collection within minutes.
  • Minimum amount. Some money transfer providers will impose a minimum limit on the amount you can send; for example, $500. This can be quite restrictive if you only want to transfer a relatively small amount of money.
  • Customer service. If you need assistance with a transaction, can you take advantage of phone, email and/or live chat customer support? Is this available 24/7 or only during specific hours?
Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Options for sending money to Pakistan from America

  • Bank to bank transfers. Speak to your financial institution about how you can send money from your U.S. bank account to your recipient’s Pakistani bank account.
  • Online money transfer companies. Services like PakRemit, Ria and Xoom all allow you to send money to Pakistan online.
  • Money transfer companies with a cash pickup option. MoneyGram and Western Union are two companies that allow you to send funds online or from an agent location in the U.S., and the cash can be collected from an agent in Pakistan.
  • Checks. This money transfer method is not as efficient as other transfer methods, but it still enables you to send funds overseas.

Emergency cash transfers in Pakistan

Situations may arise where you need to send cash to Pakistan in a hurry so that your recipient can access it as soon as possible. When sending an emergency transfer, however, you should always be careful to take the time to review your transfer before sending it. Make sure you’re aware of the exchange rate that will apply and any fees associated with your transaction.

Find a money transfer location near you

How to send money to Pakistan

Whichever transfer method you choose, in many cases you will be required to sign up for an account with a provider.

To do this, you’ll typically need to provide the following:

  • Your name and address
  • Your contact details
  • Proof of ID

Once you’ve supplied your recipient’s details and chosen a payment method, make your transaction and keep a copy of any receipt or transaction number you receive. This can then be used to check up on the status of your transfer.

Tips for picking up cash in Pakistan

U.S. travelers in Pakistan should exercise caution at all times, including when they pick up money from an agent location. Take care not to display your cash unnecessarily as you do not want to attract attention from strangers.

Avoid traveling through any questionable areas of town and deposit the cash you pick up in your bank account as soon as possible.

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US International Money Transfers Offers

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WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

OFX International Money Transfers

Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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