Online Remittance In Pakistan – A Detailed Discussion

Pakistan is one of the few countries in the world who receives a significant amount in lieu of online remittance each year. This is because a major proportion of our population likes to move abroad so that they can get a chance to avail better educational and working opportunities. But, the families of such immigrants are left behind and the family members living abroad support them when they send money to Pakistan. 

Keeping the number of people who send money to Pakistan online in mind, there is a need of services and channels through which such transactions can be completed. There are a number of options in this regard. Some of the most popular options, their pros and cons are discussed in this article:

Via Banks:
The use of banks for the purpose of online remittance is not a new concept at all. People have been using banks to both send and receive money in Pakistan since years. When it comes to banks, there are two options for one to choose from. One can either send money by transferring it from one bank account to another directly. The other option is to deposit the money in the bank account of the receiver. The biggest advantage of using banks for sending money to Pakistan is the security. When you trust banks for this job, rest assured that your money is in safe hands. But the downside of this medium is the fact that this process takes a lot of time and the is expensive as well. This is because the exchange rate for the currencies is lower and the transfer fee that is charged is a lot higher. 

Via Service Providers:
There are a number of service providers in the market like ACE Money Transfer that can be trusted in this regard. They provide online money transfer service for their customers. This method is extremely popular because of the fact that it has no disadvantage. If you choose the right service provider like ACE Money Transfer, you can send money with ease and convenience. The advantages of this method include affordability and the speed of the transfer. Through service providers, the money can also be sent on an urgent and immediate basis. At the same time, this process is extremely affordable as the service providers charge a very nominal transfer fee and yet have commendable exchange rates. Convenience is also a plus because one does not have to physically visit the service provider, the transaction is initiated online and one can send money to Pakistan whenever he wants to. 

It is an undeniable fact that online remittance is extremely important in the modern era. And thanks to banks and service providers, one can now send money to the loved ones back home immediately and without having to worry about any discrepancies. There might be a huge distance between you and the loved ones but it does not mean that you cannot care for them and send them money when they are in need.