Pakistanis and Foreign Nationals can remit money to Pakistan for Free with no fees involved. Traditionally, we all have been using services of Western Union and Money Gram to remit money to Pakistan from US and UK and they charge fees depending upon the amount of money in percentage we send.
But now with Pakistan Government's Remittance Initiative, Pakistani nationals living abroad can remit money back to their loved ones in the country for Free. Here is the quick roundup of how you can do it:
1. Through Pakistani Banks
Pakistan Banks such as HBL, UBL and NBP have extensive branch coverage across the world. You can enter in any of their branch, fill in the remittance form and transfer money via them for free. The free service is only available for transactions above USD 100. Transactions below USD 100 are subject to fees.
The most hassle free method of sending money to the country is Online. Pak Remit of National Bank of Pakistan (NBP), Click N Remit of UBL and Fast Transfer of HBL offers free money transfers.
- Pak Remit: www.pakremit.com
- UBL Click N Remit (for USA): www.ublny.com
- UBL Net Remit (for UK): www.unbnetremit.com
- HBL eRemit (for UK): www.habibbankuk.com
You can send money using US internet cheque or credit card using their websites from USA and through any London bank's debit card from UK. The policy remains same which is that the free service is only available for transactions above USD 100 and are subject to fees if they are below USD 100.
Enjoy perks if you remit Foreign currency to Pakistan equivalent to US$ 2500 to US$ 50,000 per annum. If you do that, you are entitled to receive Foreign Exchange Remittance Card which allows you to get free Issuance and Renewal of Pakistan passport on urgent basis, Get special handling at special Passport Control counters in both arrival and departure lounges of all International Airports in Pakistan, Enjoy duty credit in Pak Rupees as per category of Remittance Card from Rs. 10,000 to Rs. 100,000/- which you can use to utilize the duty credit on seven items with fixed duty i.e. Television, Deep freezer, Refrigerator, Microwave, Cooking range, Washing machine and Air conditioner. For details: http://www.opf.org.pk/fercallowance.aspx