To find the cheapest way to transfer money to Pakistan, you need to do a bit of research and factor in the Pakistani rupee exchange rates and other, sometimes hidden, charges.
However you decide to transfer money to Pakistan, the exchange rate is always going to be a major influence on how much the service costs you.
The currency exchange markets will fluctuate over time, but you will not gain access to the market rate when you transfer rupees to Pakistan.
Instead, you will need to compare the consumer exchange rates available to you. But remember, even tiny differences between rates will soon start to eat into your funds if you need to transfer a significant amount of money to Pakistan.
High street banks are one way of moving the money. Unfortunately, they don’t tend to offer very competitive rupee exchange rates and you can expect to pay a per-transfer fee on top of the exchange rate every time you transfer money to Pakistan.
Similarly, Money Sending Bureaus will impose fees of up to ten or even 15 per cent of your transaction value every time you transfer money to Pakistan.
They are also poorly regulated and tend to offer rather poor exchange rates on the Pakistani rupee.
Foreign exchange brokers, on the other hand, have some of the most competitive rates on the consumer market.
In addition to this, Xendpay allows you to transfer money to Pakistan without paying any per-transfer fees.
But there is no need to take our word for it. You can open an online account with us for free today and use this to access the currency exchange rates we have available.
These can then be compared with any other source that you like, ensuring that you choose the cheapest option when you transfer money to Pakistan.