Sending money overseas is always a challenge, especially to countries like Pakistan, where there are limited methods to send/receive funds. Whether it’s a one-time payment or a series of transfers, you need to get the most out of your online remittance to Pakistan. After all, it’s only natural that you want to protect your hard-earned cash. To help you do that, we’ll provide several tips right here in this article.
1. Consider Transfer Fees
When you send money online to Pakistan via a provider, you’ll usually pay a fixed or a percentage fee. It’s wise to choose fixed fees over paying a percentage, especially if you plan on sending a significant amount. Depending on the payment method, you may pay additional fees, such as a debit/credit card fee, mostly as a percentage.
Also, don’t buy into the “no fees” promise by some providers. They might offer you a “free transfer”, but they’ll adjust the exchange rate margin in a way to make up for it to their advantage and not yours.
2. Get Favorable Exchange Rates
You cannot forget about the exchange rate when sending money overseas. Many service providers usually offer rates below the mid-market level, but a few like Lycaremit consistently provide favourable rates. The fees and the exchange rate play a massive role in your online remittance to Pakistan.
3. Avoid Banks
Banks are famous for being secure and established remittance providers. However, they’re also heavily regulated and costly, making them not great for online remittance to Pakistan. Moreover, it may take up to a week or more for the money to arrive at its destination because of the heavy amount of paperwork.
Bottom Line
While sending funds overseas is a hassle, a reliable remittance provider can make it much easier. All you have to do is find a reliable company that offers competitive, transparent fees and comes as close as possible to the mid-market exchange rate. At Lycaremit, we can give you all of that and more. So, don’t hesitate a second longer and register right now.
