Azimo is an online only provider with a focus on mobile money transfers. They also work with the top global banks and payment providers to ensure the safe delivery of your money and payout globally.
OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates
One-off payments | Regular payments | Great rates | Safeguarded customer funds
Use the code '3FREE' and pay no fees on your first three money transfers
WorldRemit is an online service that lets people send money to friends and family living abroad, using a computer, smartphone or tablet.
The Western Union Company is a financial services and communications company based in the United States.
Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.
We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
There are many reasons for sending money from the UK to Pakistan, and thankfully few limitations to doing so. Whether you’re paying bills, planning a move, taking a holiday, or sending money to family or friends, there are options for money transfers to Pakistan.
With around 1.6 million British Pakistanis living in the UK, it’s often necessary for members of this community to send money to friends and families overseas. The rich culture, flavourful food, historical locations and the fact that Pakistan has English as an official language (alongside Urdu) are just some of the reasons why UK nationals may choose to visit or move to Pakistan.
Find favourable exchange rates and avoid hefty bank fees with a reliable money transfer provider, and get the best deal on your GBP to PKR exchange.
The British Pound Sterling (GBP) has been in circulation longer than any other currency continuously. One of the most highly-traded currencies in the world, the pound isn’t going anywhere soon. However, recent events such as Brexit, the COVID-19 pandemic, and economic turmoil has caused this superpower currency to depreciate.
In Pakistan, the Pakistani Rupee (PKR) has been the official currency since the end of the 1940s. Similarly to the GBP, the Pakistani rupee has faced devaluation in recent years, with 2023 not forecast to be much better.
The ties between the UK and Pakistan run deep, with origins linking back to the British Empire. Since Pakistan became independent, the two countries have a more balanced relationship as part of the Commonwealth of Nations.
UK imports from Pakistan rose to $2.28bn in 2022, while the country’s exports to Pakistan declined to $756.25m in the same year (compared to a post-Covid rebound in 2021). Nevertheless, the UK remains Pakistan’s biggest trading and investment partner in Europe, with a strong bilateral trading relationship.
Politically the relationship between Pakistan and the UK is widely bridged by the Pakistani diaspora in the UK, as well as many recent global issues, such as Afghanistan and the war in Ukraine.
Opening a bank account in Pakistan as an expat is possible, although having proof of residence will be required, or else you may be subjected to fees. Having a bank account in Pakistan will become necessary if planning to move there or spend prolonged periods in the country.
However, for efficient and affordable overseas transfers, which could be deposits, remittances or travel costs, by utilising a money transfer provider you can skip the bank fees and reap the benefits.
As with moving overseas to any country, it’s wise to become familiar with the tax law before making the move. In Pakistan the tax year is 1st July to 30th June, and personal income tax is charged on those earning above PKR 600,000. Sales tax is also something to be aware of, standing at 17% in 2023.
Fortunately, Pakistan and the UK have had a double taxation treaty for decades, preventing most individuals from paying the same taxes in both countries.
For British nationals planning to visit or live in Pakistan it is necessary to obtain either the appropriate visa or a National Identity Card for Overseas Pakistanis (NICOP). Research will be necessary to determine which visa type is needed, and could be a work, student, journalist, or other visa. There are also first-time visas, which is as simple as it sounds, and extension visas for if you are already living in Pakistan.
All of the necessary documents will be needed to be completed, as well as paying a fee, and from there it is a waiting process to see if your visa is approved.
The most important thing that you can do before purchasing a property in Pakistan: research. As expected, the processes may be different than what you are used to. Finding an estate agent that you trust and who knows the local area can help ease you into the process. Ensuring that the process is done officially is also key, so make sure all of the necessary documents have been signed.
The real estate market is projected to grow in Pakistan by 2.3% in 2023, with an optimistic outlook on the next few years being widely held. Property is largely a wise investment, and with a growing market in the country, it could benefit you in the long run.
Ready to send money from the UK to Pakistan? Set yourself up in a good position with an international money transfer company that suits your needs.
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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.
