Looking to Transfer Money to Pakistan? Find Out What’s Legal and What’s Not

Article by Peter Frampton

With all the talk about illegal money transfers, the rules have changed for people wanting to send a money transfer to Pakistan. Though there are several different types of money transfer services, some are better than others if considering a money transfer to Pakistan in these days of uncertainty.


The political climate in Pakistan has caused some once-reliable services that have been used in the past with great success to become unpredictable. With the current state of things in Pakistan, it is best to use a money transfer service that has solid background.


One of the safest ways to send money to Pakistan is through the banking system. International banks use a system for wire transfers which have been around since the mid-’70s. This system is called the S.W.I.F.T. wire transfer system, which means the Society for Worldwide Interbank Financial Telecommunication. This system does not hold money or manage funds; its only duty is to send data from one bank to another. All money transfers over this system are recorded and tracked by both of the banks involved. The monies transferred over this system are also viewed by governmental agencies in some cases, as well.


The only problem with sending money through a bank’s wire transfer service is that there has to be a bank account at both banks. The sender needs to have a bank account where the money is sent from, and there has to be a bank account number for the recipient to present to the sending bank to begin the transfer. The receiving bank account will get the transfer in about two or three days, depending on the bank. This way of sending money is the most reliable, but what if the recipient does not have a bank account?


In cases where the recipient does not have an account, the sender should use a location-based wire transfer service. These businesses are everywhere in the world, and the fees for the service are usually based on how much money is being transferred. The main downside to using one of these services is the fact that the sender is limited in how much they can send. Though people have gotten around that by sending multiple transfers, it can be more costly and in some cases, the transfer company might have rules against sending more than one transfer to the same person for large sums of money on the same day.


The oldest method of sending a money transfer to Pakistan is the hawala method, but after September 11th, this method has been deemed illegal in the U.S. because this was the way most terrorist groups sent and laundered money around the world.


The hawala system is an old money transfer system that has roots in Islamic law and is based entirely on the honor system. To send money this way, the sender would go to a hawala broker and give them the money they want to send. The hawala broker would than take out a fee for the transfer and call someone where the money was to be transferred to. The hawala broker would promise the other hawala broker to pay him back for the transfer. This system is still in use, but is not a legal way to send a money transfer to Pakistan.


The best way to send a money transfer to Pakistan is through one of the legal wire transfer systems, either through a bank or with a wire transfer service or via a prepaid debit card.

About the Author

For more information on how to send money visit the http://www.sendmoney101.com home page and learn how to send money almost anywhere in the world.

Use and distribution of this article is subject to our Publisher Guidelines

whereby the original author’s information and copyright must be included.

For more information on how to send money visit the http://www.sendmoney101.com home page and learn how to send money almost anywhere in the world.












Use and distribution of this article is subject to our Publisher Guidelines

whereby the original author’s information and copyright must be included.

Related How Much Does Prepaid Legal Cost Articles

Categories: Prepaid Legal Q & A

Leave a Reply