5 Cheaper Ways to Send Money from the USA to Pakistan (2024)

FAQs

What is the cheapest way to send money to Pakistan? ›

The cheapest way to send money to Pakistan is almost always to make an international bank transfer to a local bank account in Pakistan via a specialist money transfer provider, which you can pay by debit card or local bank transfer.

The cheapest way to send money internationally is to transfer funds directly from your bank account to a recipient's bank account. Most transfer services charge additional fees for debit card or credit card payments and cash pick-ups. Credit card payments will incur additional charges from your credit card provider.

Frequently Asked Questions About Using Zelle in Pakistan

No, you cannot send money to Pakistan with Zelle, as Zelle is available only in the US. The payment app only allows you to send money from one US bank account to another, meaning both the sender and the recipient must have US bank accounts.

Transfer money to Pakistan reliably

Best of all, you can send money to Pakistan using a credit or debit card, directly from your bank account, via Apple Pay^®, or with cash at more than 55,000 agent locations in the US.

Western Union tends to provide cheaper fees while MoneyGram generally provides better exchange rates.

The easiest way to avoid a foreign transaction fee is to use a debit or credit card that waives foreign transaction fees while traveling abroad. Luckily, there are plenty of credit and debit card options that offer this perk for those crossing borders.

International money transfer services like Western Union can help you easily send money abroad, and the fees may be less compared to traditional banks. Plus, Western Union can be a more convenient option because there are additional methods to send money such as cash pick-up.

You can also avoid foreign transaction fees by making purchases online only with international merchants that work with American credit cards and accept US dollars. When shopping online, make sure that their business is based in the US or that they accept a range of payment options that include US currency.

Venmo does not work internationally, as users must be physically located in the United States to complete transactions on the app. You'll also need to have a US bank account to set up a Venmo account, and if you plan on getting the Venmo credit card, you'll need to have a Social Security Number, too.

Can Pakistani use PayPal? ›

PayPal does not offer resident Pakistanis to hold a PayPal wallet to withdraw money. But resident Pakistanis can receive money through Xoom directly into a bank account or by picking up a cash transfer at a local bank.

Venmo does work internationally as you can use the app anywhere but you can only link US mobile numbers and US bank accounts. You cannot sign up for a Venmo account being outside of the United States.

Fees for money transfers within the US

To send $100 from your bank account to their bank account still carries a significant fee of $14.00. Sending the same amount from your credit card as a cash pickup will cost you $20.50. The maximum you can send in one day is $5,000, and the highest fee we've seen is $243.

The main difference between Wise and Payoneer is that Payoneer money transfers has a network of over 200 countries while Wise offers the lowest transfer fees, varied payment options and matches the mid-market rate. The evolution of the internet has made it simpler and more cost-effective to send money across borders.

It is legal to send money to Pakistan from US so long as it is done legally following the law.

Western Union takes safety seriously. As one of the most reliable and oldest financial services and communications companies in the world, we provide a wide variety of money transfer options to more than 200 countries.

For a bank-to-bank transfer, MoneyGram is the cheapest option. You'll have to pay fees. For sending $200 to $1,000, average fees range from about $6 to $14 in the countries we surveyed, depending on the sending and receiving methods. MoneyGram also marks up the exchange rates anywhere from about 0.60% to nearly 8.44%.

Our Western Union vs PayPal comparison has found that Western Union offers faster transfer times, more favourable exchange rates, and lower fees than PayPal. While PayPal does have it's advantages for more convenient transfers domestically, Western Union is the better choice for international transfers.

Is Western Union cheaper than Xoom? ›

Is Xoom cheaper than Western Union? Xoom fees vary on the size of the transfer and the destination country. However, they generally provide better value than Western Union. Also, the markup percentage of Xoom is 1-3%, while Western Union is more expensive at 3-6%.

Banks that have no foreign transaction fees on at least some debit card purchases, ATM withdrawals and credit card transactions include Capital One and HSBC.

Average wire transfer fees

Wire transfer fees typically range from $0 to $50. Domestic outgoing wire transfer fees typically range from $0 to $35, while international outgoing wire transfer fees are usually $35-50.

If you're using a credit card, a card-issuer cash advance fee and associated interest charges may apply. To avoid these fees or for reduced fees, use a debit card or check other payment methods.

Up to $14.00 per transfer. $30.00 per transfer $10,000 or less.

Remitly is a US-based digital remittance app that's very often the fastest and cheapest money transfer app on Monito. Like Western Union, Remitly offers various pay-in and pay-out options and supports currency transfers to over 85 countries worldwide, but unlike Western Union, it's often 2 to 5 times cheaper!

Why is it so expensive? Because banks and credit card companies charge users high fees to help them convert between currencies. Understanding how to reduce the costs associated with using your bank card abroad or transferring money between foreign bank accounts will help you save more of your hard-earned dollars.

A transfer fee is generally a flat fee charged on every international transfer regardless of the amount you send. However, some banks have the cheek to charge the same transfer twice – a transfer fee for the sender and another for the recipient.

Both solutions can be useful but fees vary based on location, so it's important to know which fees apply. The current fees for PayPal Payments Pro are 2.9% + $0.30 per transaction for US transactions. For international transactions, they're 4.4% + a fixed fee.

Is MoneyGram banned in Pakistan? ›

Islamabad, Pakistan: The Western Union Company and MoneyGram International Inc working in Pakistan have barred to send/transfer money from Pakistan to any foreigner outside the country.

Cash App can only be used to send money within the country you live, and the service is only available in the US and UK.

Amazon's website is totally accessible in Pakistan, but there is a limitation to importing from the USA, UK, or France. Only 4% of products have an option for Amazon shipping in Pakistan, and the remaining cannot ship directly here.

State Bank of Pakistan. A graphical representation of a user's journey for making a transfer to a local Pakistani Account. A user can either use PayPal or Xoom credential to login. To login using PayPal click the “Continue with PayPal: option.

Through it, you can handle all credit and debit card clearance amounts. Apple Pay is an innovative and advanced technology option working in Pakistan for payments.

Easy pick up from more than 5,000 locations in Pakistan.

Send money to almost anywhere in the world from Pakistan

Today with over 500.000 Agent locations worldwide in over 200 countries and territories, millions of people trust Western Union to send and receive money worldwide.

Information. To send more than 3,000 USD from the United States, you will need to verify your identity¹. Once verified, you can send up to 50,000 USD. You can verify your identity online or at an agent location.

How much does MoneyGram charge to send $500? ›

The fee for a transfer with MoneyGram varies depending on the amount you want to transfer. MoneyGram charges a flat $5 fee to send amounts between $1 to $49 and a flat rate of $11.50 on amounts between $50 and $499. The fee on amounts of $500 and above is 2%. There is also a maximum amount of $10,000 per transfer.

Requirements to Send money

A maximum send limit of 1,000USD Naira equivalent per customer per quarter, as stipulated by the Central Bank of Nigeria.

The main difference between PayPal and Payoneer is that PayPal charges an exchange rate margin between 3.5 – 4% on most currency conversions while Payoneer will typically charge a margin of 2% on top of the mid-market rate. When you're looking to send money internationally.

Payoneer customer service and support

It also has an online knowledgebase. 3% on credit card payments and 1% on e-check payments. $1.50 fee for domestic funds and 2% fee for non-local currency. 0.5% fee per transfer.

UP TO 1.2% OF TRANSACTION AMOUNT

Payoneer customers can also make batch payments to up to 200 bank accounts at once with a 2% fee.

SCB is the best bank in Pakistan for international transactions due to its strong presence in the Pakistani as well as the global market.

Skrill Money Transfer

Skrill is one of the cheapest options to send money to a bank account in Pakistan. With Skrill, you can send money to a bank account for free, either from its website or mobile app.

The State Bank of Pakistan (SBP) announced on June 16, 2021, that it has now allowed banks to charge a transaction fee of 0.1 percent of the transaction or PKR 200, whichever is lower on Inter-Bank Funds Transfers (IBFTs). SBP has made compulsory free-of-cost IBFTs of up to PKR 25,000 per month per account.

Which US bank has branches in Pakistan? ›

Citi has been operating in Pakistan since 1961 and is one of the leading corporate and investment banks in the country.

HBL Foreign Currency SavingsAccount is the ideal choice allowing you to save with ease while offering convenience and reliability for Pakistanis as well as foreign nationals dealing in foreign currencies.

HBL had been operating its New York branch since 1978, and was one of only three Pakistani banks to have a presence in the United States (the other two being the National Bank of Pakistan and the United Bank Ltd).

Up to $30 per transfer for domestic transfers. Varies for international transfers. Up to $16.00 per transfer. Before initiating a transfer, use a bank or transfer service's online calculator (if available) to estimate your money transfer fees and international money transfer fees.

Yes, Western Union is available in Pakistan. Residents can receive money from abroad or send money in person through a Western Union agent.

Customers in Pakistan can now enjoy the convenience of receiving their Western Union money transfers at more than 750 Bank Alfalah locations across the country.

PayPal does not offer resident Pakistanis to hold a PayPal wallet to withdraw money. But resident Pakistanis can receive money through Xoom directly into a bank account or by picking up a cash transfer at a local bank.

And the best part is, if you have an account with PayPal you can start sending money to Pakistan right now with your PayPal payment options right at your fingertips.

PayPal does not operate in Pakistan.