Today, many people study, live, or do business in another country. Naturally, they need some sort of service to send money to family or friends. Some stick with traditional providers like banks, but hurdles like exorbitant fees, unfair exchange rates, and heavy regulations have turned many people away and toward other options.
There’s a growing trend toward utilizing online remittance providers since they offer better exchange rates and charge far less than banks. Since they’re not held to stifling regulations like banks, many reliable providers can deliver the money in a short timeframe. Below, we’ll address the top three remittance providers offering the best Pakistani Rupee to Pounds rates.
Remitly
While it’s not as established as other competitors, Remitly is a viable money transfer option, especially if you’re planning on using a credit card. Remitly’s “no minimum limit” policy has made it widely popular for people who’re looking to send money from Pakistan to the U.K.
In addition, the £3 transfer fee makes Remitly an affordable option, especially considering there are no hidden fees buried within the markups. For most conversions, including Pakistani Rupees to Pounds, Remitly does offer a sensible exchange rate. However, since Remitly isn’t quite established in Pakistan yet, it takes several days to make the transfer, and extra fees may show up on the bill too.
Wise
Wise is a renowned remittance provider that has a long list of satisfied customers. A significant upside to Wise’s operation is it charges reasonable fees and doesn’t try to fool customers by empty “zero fees” promises. Since Wise offers a mid-market exchange rate, customers will get a fair deal on the Pakistani Rupees to Pounds rate.
However, even though Wise customers can send money abroad on their smartphones, tablets, or laptops, they’ll have to pay additional fees for dealing with countries like Pakistan. Since Wise doesn’t have a strong presence in Pakistan, you have to pay a £15 fee for any £1000 transfer to this country. Furthermore, it may take three to five days for the money to reach its destination.
Lycaremit
Lycaremit is probably one of the few remittance providers on the market with established infrastructure in Pakistan. That explains why it offers an attractive Pakistani Rupees to Pounds rate and delivers the money to the U.K within 48 hours. Lycaremit’s maximum flexibility allows customers to easily transfer money while paying minimum fees and enjoying 24/7 customer support.
Bottom Line
Increasingly more people are walking away from banks and towards online remittance providers. It’s only natural since no sane person wants to spend more than necessary. Plus, transfer time is an additional factor. Moreover, people hate when companies claim to charge no fees but make up for it by adding hidden costs.
Therefore, the wiser choice is to find a provider like Lycaremit that offers sensible exchange rates, charges ultra-competitive fees, and gives you the most flexibility. Transferring funds from Pakistan can be easy and hassle-free. Just register and see for yourself.
