The history of foreign remittance to Pakistan by overseas has deep roots, and they always search for trustworthy methods to send money to Pakistan. The foreign remittance traces back to the early waves of emigration for economic opportunities. In the 1960s, Pakistani expatriates began contributing significantly to the national economy by sending money back home. Over the years, this trend has only intensified, making remittances a vital lifeline for many families in Pakistan. Economic Support: The remittances sent by Pakistani expatriates, especially those residing in Singapore and Australia, play a crucial role in supporting the economy of their homeland.
These funds contribute to Pakistan’s overall stability and development, and a bunch of methods to send money to Pakistan in the remittance transfer sector thrive this particular business more. Many expatriates send money to support their families in meeting basic needs such as education, healthcare, and housing. This financial assistance enhances the quality of life for their loved ones back home. Some expats use remittances to invest in businesses or real estate in Pakistan, fostering economic growth and creating employment opportunities. Following are some trusted ways of sending money to Pakistan from Singapore and Australia, so note down to make fund transfers for your loved ones in Pakistan more seamless.
TOp Reliable Methods of Sending Money to Pakistan from Australia and Singapore
- Wise (TransferWise)
- Remitly
- Speed Remit
- WorldRemit
TransferWise (known as Wise):
Wise offers competitive exchange rates and transparent fees. It allows you to send money from Singapore and Australia to Pakistan instantly and securely; hence, it is one of the leading methods to send money to Pakistan. Furthermore, the platform of this service is highly responsive on all the gadgets you use. This service is operational in Pakistan and other countries; hence, you will find its massive popularity globally. The easy steps make it much easier to let your family get their hands on your hard-earned money, and it also makes no compromise on making the process of sending money secure for customers.
Remitly:
often emphasises fast and convenient money transfers. People appreciate services that allow them to send money quickly, especially when supporting family and friends in another country, so you can also opt for this great method to send money to Pakistan. Exchange rates play a crucial role in international money transfers. Remitly offers competitive rates, and users choose it over other services to get better value for their money. Its fee structure is transparent, and users appreciate knowing exactly how much they will be charged for the transfer. Additionally, a user-friendly platform and mobile app can enhance the overall experience of sending money to Pakistan.
Speed Remit:
Speed Remit also exists among the top money transfer services to offer reasonable exchange rates compared to other remittance services. It attracts customers looking for better value for their money and that also contributes to its fame of being the trusted method to send money to Pakistan. Additionally, People often prefer remittance services with lower fees, as it allows them to send more money to their recipients in an affordable manner. Speed Remit assists you with the same and makes remittance transfers affordable whenever you send money back home to Pakistan. The efficiency and reliability of this service play a significant role in its popularity. Customers appreciate its service that ensures their money reaches its destination promptly and securely. A user-friendly online or mobile platform also contributes to its popularity. Furthermore, Speed Remit provides an easy and convenient way for users to send money, which could attract more customers.
WorldRemit:
WorldRemit offers a convenient and user-friendly platform that allows individuals to send money online and opting for this method to send money to Pakistan is also the sensible approach. The process is simple, and users can initiate transfers from the comfort of their homes using a computer or a mobile device. It has a widespread network covering many countries, including Singapore and Australia. This extensive coverage makes it a popular choice for people in these countries who want to send money to family and friends in Pakistan. Additionally, provides multiple transfer options, including bank transfers, cash pickups, and mobile money transfers. This flexibility allows users to choose the method that best suits the preferences and needs of the recipient in Pakistan. Furthermore, it typically offers viable conversation rates, allowing you to make well-versed decisions about the transfer cost. As an online platform, WorldRemit also strongly focuses on mobile accessibility, making it sustain its place among Pakistan’s top-rated money transfer services.
Three Basic Mistakes Pakistani Expats Make While Sending Money to Pakistan:
Ignoring Exchange Rates: Failing to pay attention to exchange rates can result in significant losses. Choose a time when rates are favourable.
Overlooking Fees: Some remittance services charge high fees. Consider the total cost, including fees, to ensure you’re getting the best value.
Using Unreliable Channels: Opting for unregistered or unregulated channels increases the risk of fraud or loss of funds. Stick to reputable services and always remember that the more the method to send money to Pakistan is trustworthy, the more you make the complete process hassle-free.
Documents Pakistani Immigrants in Australia and Singapore Need to Send Money to Pakistan:
For Australia:
- Identity Verification: Passport, driver’s license, or another government-provided ID.
- Bank Details: Information about the recipient’s bank account in Pakistan.
- Transaction Reference: Keep records of the transaction for future reference.
For Singapore:
- National ID: Singapore NRIC or other valid identification.
- Recipient’s Bank Information: Bank name, branch, and account details.
- Transaction Receipt: Retain a copy of the transaction receipt for tracking purposes.
Conclusion
In conclusion, the foreign remittance sent by Pakistani expatriates from Singapore and Australia is a crucial pillar supporting the economic fabric of Pakistan. While various reliable methods exist for sending money, avoiding common mistakes and ensuring proper documentation is essential. The commitment of Pakistani expats to financially support their homeland strengthens individual families and contributes significantly to Pakistan’s overall prosperity and progress.
