Money transfer from UK

Society Business and Career
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I tried sending money with money gram but the site is broken as its not letting e register.

UKFOREX is another one I have come across. Anyone used it?

Or any advice on sending money to Pakistan legally?

Thanks

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Re: Money transfer from UK

1- Wire transfer - costs a lot to the sender so not recommended for smaller amounts. Also the exchange rate that recipient's bank offers might not be that good.
2- Skrill - The receiver needs to have a skrill account connected with a bank account to be able to withdraw money. Costs really low but banks don't offer a good exchange rate.
3- Western Union - Not sure about the costs involved. Used a couple of times long time ago.

I have **received **a couple of payment from National bank Pakistan with a service called Express transfer. Both transactions from UK clients but not sure whats the name of that service in UK. Someone else might be able to tell better.

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Re: Money transfer from UK

I use UBL remit all the time. You need to make an account and then can either set up beneficiaries so that you can pay direct to their bank account, or you can add them (with their CNIC number etc) so that they can make a cash collection at a UBL branch. Then you can use your credit/debit card to make the payment. I’ve used western union in the past but this UBL service is by far the most efficient, cost effective way and providing the transaction is over £70, there is no transaction fee (and the exchange rate is really good anyway). Furthermore, because you are paying in pounds, there will be other costs charged by your debit or credit card.

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Re: Money transfer from UK

I think you can use westernunion website to transfer money to any bank in Pakistan. You create an account on their website and link your bank card.

In France, I've used their service and at the moment it is free (no fee for money transfer to a bank account in Pakistan). Also the exchange rate is good compared to their 10 minutes pickup service.

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Re: Money transfer from UK

is it generally better to send GBP into a sterling/dollar account in Pakistan or should it be converted to PKR? Also, any other proven recommendation besides UBL? I'm getting a rate of 147 on their website at the moment.

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Re: Money transfer from UK

What are the other costs and who charges them, please elaborate.

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Re: Money transfer from UK

Sorry, I made a mistake. It should have read "Furthermore, because you are paying in pounds, there won't be other costs charged by your debit or credit card."

Otherwise, when you make a foreign currency transaction (for example, when doing a WU payment) one will often (depending on the card issuer) get charged a fee by the card issuer that is independent of their payment to WU.

The UBL remit method isn't a foreign currency transaction so there are no other fees or hidden charges to pay.

As for the exchange rate, according to XE.com it's currently 149.5 Pkr to 1 GBP, so UBL's rate of 147.35 PKR is about as good as you will get anywhere. It may improve after the election..

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Re: Money transfer from UK

UBL don't seem to be accepting new online applications.

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Re: Money transfer from UK

@mickeymouse did you use the “new user” link on this page? https://www.ubluknetremit.com/Login.aspx

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Re: Money transfer from UK

Thanks stoppit. Managed to create an account and logged in. However, transactions have been declined thrice over course of 2 hours. Contacted both UBL and the local bank but no help.
Maybe I'm doing something wrong? Tried from both the website and the app.

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Re: Money transfer from UK

UKForex were great! They give you free transactions for first two times. Minimum amount is £750.

I was to open a pakistani account and have seen Habib bank branch in Birmingham. Will it be free transfers if I open Habib bank account in pakistan and send money from their branches in UK?