Do you have relatives living overseas? Is your child studying in another country? Today, sending money from Pakistan abroad can be needed for multiple reasons, such as supporting your child or family member. Choosing the right transfer service can make the process much easier and less stressful. Imagine you often send money from Pakistan to other countries. Each time, you want it to be fast and accurate with reasonable fees and a fair exchange rate. But sometimes, one of these things might not happen. That’s why it is important to pick the best option for sending money abroad from Pakistan. Today, the cost of sending money globally has been falling over the years and is predicted to continue to fall. To help you guys, our Tashheer research team made a list of the best 5 ways to send money to foreign countries from Pakistan. So, make sure you read the whole article and find the answers you are looking for. Additionally, if you want to learn more about banks in Pakistan facilitating international transactions then read our blog Elevate Your International Transactions with These Top 6 Banks in Pakistan.

List of Top 5 Easy Ways to Send Money Outside Pakistan

In this research article, our Tashheer’s research team compiled a list of the top 5 sources that send money outside Pakistan, listed as:

Local Bank (For Medical & Educational Payments)

A local bank transfer means sending money electronically between two bank accounts in the same country or area. It can also involve depositing money into a bank account in another country known as an international ACH or Global ACH. Sending money through banks is the preferred method. But, in Pakistan, only a few banks offer foreign transfer services due to worries about things like money laundering. If you want to send money abroad through banks, you have to open a dollar account with banks like Standard Chartered, HBL, MCB, etc. Opening a dollar account is not straightforward, so our team recommends you get professional advice by contacting your banker.

Here are some Pakistani banks that offer international money transfer services:

Habib Bank Limited (HBL), United Bank Limited (UBL), and Meezan Bank Limited (MBL) and National Bank of Pakistan (NBP) offer international payment services through their branches and Pakistan Post Offices in collaboration with NBP.

 Here are some things to note when using a local bank:

MoneyGram

MoneyGram International, Inc. is an international company headquartered in Dallas, Texas, that helps people send peer-to-peer payment and money within the U.S. and around the world. They have a main office in Dallas and another center in St. Louis Park, Minnesota, along with offices in different places globally. On June 1, 2023, Madison Dearborn Partners bought MoneyGram. MoneyGram works in over 200 countries and territories and has around 347,000 agent offices worldwide. It is fast and reliable service and you can send money anywhere in the world with Money Gram. Pakistani residents can utilize MoneyGram to send and receive money internationally. Presently, sending money abroad directly from Pakistan is only possible through physical visits to authorized MoneyGram agents.

Google rating (5.0)

Steps to Send Money through MoenyGram

To send money through MoneyGram, follow these steps:

Xoom

Xoom Corporation (also known as Xoom, a PayPal Service) is an electronic money transfer and payment provider in Pakistan. It was launched in 2001 and is based in San Francisco, California, United States. In June 2010, a study by the Inter-American Dialogue which looked at 79 payment service providers, found that Xoom had the highest customer satisfaction ratings. Xoom allows you to send money from several countries to recipients in various locations including countries outside Pakistan. Xoom currently supports sending money if you reside in the US, Canada, the UK, and most European Economic Area countries. Sending limits apply based on your account verification and transaction history. Xoom charges fees for money transfers which vary depending on the amount sent, destination country, and chosen payment method. Xoom is part of the PayPal family now. it provides easy and secure method to send money, reload phones and pay bills for your family and friends worldwide.

See more: How Pakistan is Pioneering Digital Payments in South Asia

Google rating (4.8)

Xoom offers convenient transfer options

• Mobile App: Use the app to initiate and manage transfers.
• Website: Send money directly through Xoom’s website.

Recipient Options (Outside Pakistan)

Xoom provides various receiving methods based on the recipient’s location:

• Bank Deposit: Directly deposit funds into the recipient’s bank account.
• Cash Pickup: Collect money in the recipient’s local currency at a designated agent location.

Wise

Wise (previously known as TransferWise) is a UK-based foreign exchange financial technology company founded by Estonian businessmen Taavet Hinrikus and Kristo Käärmann in January 2011. Wise specializes in cross-border payment transfers. As of 2023, it offers three main products: Wise Account, Wise Business, and Wise Platform. By using wise, you can send money to 70+ countries which is free from hidden fees and exchange rate markups. They have partnered with companies like Monzo, Bolt, and GoCardless to deliver their customers better international banking. Millions of businesses and people trust them to move their money, saving bank fees and time. With the Wise account, they hold balances in over 52 currencies and you can use your debit card to shop and spend while abroad. Wise is used by 16 million people and businesses worldwide. It handles £9 billion in cross-border transactions each month, saving customers about £1.5 billion annually.

Google rating (4.2)

Steps to Send Money Through Wise

To send money through Wise, you can follow these steps:

Western Union

Western Union is an American multinational company based in Denver, Colorado. Started in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York, the company later became the Western Union Telegraph Company in 1856 through a merger with other telegraph companies. Since 2001, the Western Union Foundation has spent over $140 million in 200 geographies, helping millions of people globally. When you want to quickly send money, trust Western Union Money Transfer Service. It is a simple, dependable, and convenient method for sending up to $3000.00 per person per day. With over 500,000 agent locations globally, it is the safest and easiest way to send money anywhere in the world from Pakistan. Overseas Pakistanis can send money back home by using Western Union. Additionally, residents of Pakistan can also use Western Union to send money abroad, but up to a certain amount.

Google rating (4.0)

Steps to Send Money Through Western Union

To send money through Western Union, follow these steps:

Listing Quick and Secure Options for Sending Money Overseas from Pakistan

Final Words

UNESCO data reveals that the number of students from Pakistan studying abroad has increased consistently over the last ten years. In 2013, nearly 40,000 students were studying abroad and by 2023, this number had grown to 64,604. Sending money to your child, or your family member from Pakistan to overseas can be challenging because many companies are offering international money transfer services. Sending money internationally for purposes like medical bills and educational expenses requires a reliable and efficient source. To help save your precious time and hardly earned money, our Tashheer research team complied a list of top 5 methods to send money abroad from Pakistan.