What is the cost of sending money from US to Pakistan?
There is no standard rate for sending money to Pakistan from US because various transfer companies have different rates.
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The biggest problem that US has when it comes to remittance to Pakistan are the illegal money transfer services that make it impossible to capture the real records. However, the number of Pakistani immigrants with jobs in America is rising constantly. In Dec 2019, foreign remittance to Pakistan went up 20% compared to November 2019. These figures are expected to go higher as more Pakistani professionals keep getting jobs in the United States.
There are so many ways that you can use to transfer money to Pakistan from US. To make it even better, the transaction can even take a few minutes. Thanks to the internet, industries from the US have managed to tap into another source of manpower from Pakistan through online freelancing. Together with the rising number of Pakistanis working in the US, convenient and reliable USD to PKR exchange services are vital.
It is also good to know that you can sendmoney from USA to Pakistan bank account especially if you need to transact a large amount. From statistics, many people prefer to send money from USA to Pakistan online. That is since technology has gotten better and online money transfers these days are more reliable. Although there is nothing like the best way to send money from USA to Pakistan because people have different preferences, many people prefer transfers that have low rates regardless of how long the transaction takes.
Before knowing the best way to send money to Pakistan from USA you must know that the following are some of the available options you have;
The USD to PKR exchange rate market is one of the most competitive exchange corridors where more several companies are offering their services. These companies have competitive exchange rates, secure transfer services, faster and affordable remittance with excellent customer support services. You can choose from the above-listed money transfer companies based on your transfer requirements and send money easily to Pakistan.
Automated Clearing House transfer is the biggest transfer network in the USA and one of the main ways to send or receive money online. The ACH transfer provides electronic or bank to bank transfer in the USA so that one can send funds easily to Pakistan. These transfers take approximately 2-3 days before the recipient can access his or her money.
These are the very common form of international transfers which are offered by most of the banks and money transfer companies. Under wire transfer transactions, you can send money directly into any foreign bank account within 1 business day. This transfer is best for transferring a large amount and time-sensitive remittance abroad. Placid and Money2anywhere are good example here.
There are some major factors that you will want to consider before deciding how you want to send money from USA to Pakistan. They include;
The exchange rates from USD to PKR
How long before the money is received
How much the service costs
Credibility of the service provider