Technology has made our lives simpler than ever before, it has turned the world into a global village. Everything that we may need is at a distance of a mere touch due to smart devices and high-speed internet, you can now order food and groceries, hire a taxi, pay bills, and even move money online. You can also send money to other countries through wire transfer or online.
We shall discuss the different ways money can be safely invested, by both the local Pakistanis and Overseas Pakistanis.
Ways to Invest in Real Estate for Local Pakistanis
We wait to assist you in your real estate endeavors like Capital Smart city. Your investment is safe with us. Currently, we accept payments in the form of pay orders, cash or a direct deposit in the company’s account.
Pay Order
A payment order is a financial instrument issued by a bank on behalf of a customer that states an order to pay a specific sum to a specific individual in the same city. The term “Not Negotiable” is pre-printed on the payment order. Since the payment has been made in advance, there is no risk of dishonor. The pay order will be valid for three months after it is issued.
Cash
You can make the payment in the form of notes and bills, though the amount of money being large, a cheque would be easier to handle.
Direct Deposit in the Company’s Account
You can transfer your money directly into the account of the company you are investing in. It can be the account of the agent, broker or the housing society itself.
Ways to Invest in Real Estate for Overseas Pakistanis
If you are an Overseas Pakistani you can send money through many electronic portal but the following they are the most commonly used in Pakistan:
- Western Union
- TransferWise
- MoneyGram
Western Union
Western Union is one of the most well-known foreign money transfer firms. The company’s headquarters are in Denver, Colorado, United States. Western Union works with a variety of financial institutions and banks all over the world. Person-to-person money transfers, company payments, and commercial services are among the services it provides.
So, how do you send money to Pakistan through Western Union? Let’s walk you through the process one step at a time.
- To begin making online payments with Western Union, you must first establish an account.
- Fill out your personal details, including your email address, on a registration form.
- Your given email address will receive a verification connection.
- Before you begin making online payments through Western Union, you will need to check your email address.
Western Union offers three options for sending money online in a matter of minutes. We’ll go into each one individually.
- Pickup in Cash
- Bank Transfer
- Mobile Wallet
Pickup in Cash
- Make sure you’re logged in to your account.
- Select your desired country, number, and delivery process (cash).
- Fill in the recipient’s name.
- You can pay with a debit or credit card.
- A confirmation email with a tracking number will be sent to you.
- It’s known as the Money Transfer Control Number (MTCN) (MTCN). For delivery, send it to your recipient.
Bank Transfer
- Make sure you’re logged in to your account.
- As a delivery method, select your country, desired number, and bank account.
- Fill in the receiver’s name.
- You can pay with a debit or credit card.
- A confirmation email with a tracking number will be sent to you.
- The funds will be credited to the account of the recipient.
Mobile Wallet
- Make sure you’re logged in to your account.
- Choose your country, desired number, and delivery method as mobile wallet.
- Fill in the recipient’s name.
- You can pay with a debit or credit card.
- A confirmation email with a tracking number will be sent to you.
- The funds will be sent to the recipient’s mobile wallet.
- The maximum amount you can submit with Western Union in a single day is $3,000.
Charges for Transferring Money from the Western Union to Pakistan
The minimum payment for sending money to Pakistan through Western Union is $3.59. Charges can differ from one country to the next and are dependent on the service you use.
TransferWise
TransferWise is a UK company. It is one of the world’s leading foreign money transfer firms. TransferWise, which offers over 750 currency routes around the world, including PKR, GBP, USD, AUD, and CAD, claims to be one of the cheapest ways to send money online to Pakistan.
- The first step in this process is to make an account.
- To sign up, go to the website and press the “sign up” button.
- Fill in your basic information, such as your email address, password, and country. You may also use your Apple, Google, or Facebook IDs to sign up.
- In the next step, choose if you want to submit money, receive money, or apply for a Transferwise card.
- After you’ve chosen your preferred choice, you must decide if you want a personal or business account.
- You’ll be asked for more personal details, such as your address and phone number, in the next step.
- A confirmation text will be sent to you. Verify your account details.
- Choose a currency for your account now. You can add money to it with a debit or credit card.
- Choose a sum to submit in the next step.
- Include the recipient’s bank account details.
- Confirm your name (photo identification is required for large payments)
- Use your Transferwise account to send money. You will pay for your transfer with a debit or credit card.
- With Transferwise, the maximum amount you can submit in a single transaction is $100,000.
Charges for Transferring Money from TransferWise to Pakistan
TransferWise, is eight times less expensive than bank transfers. This makes it the cheapest way to send money to Pakistan through the internet. This money transfer company charges $7.71 to send money to Pakistan through the internet. The aforementioned fee is applied to a $50 transaction. It can differ depending on the amount sent.
MoneyGram
MoneyGram is one of the world’s most well-known money transfer firms. It is headquartered in the United States and collaborates with financial institutions and banks all over the world. It assists consumers with services such as money transfers, money orders, and bill payments. By signing up for MoneyGram, you can make online payments.
- To sign up for MoneyGram, go to their official website and press the sign-up button.
- Enter your email address and a special combination of characters for the password.
- To proceed to the next tab, click the ‘Next’ button.
- Now fill in your personal details, such as your name, birth date, and address. Complete the form and press the ‘Create Profile’ button.
- You will make a list of recipients. You may either choose an existing receiver or add information for a new receiver not on your list.
- Fill in the number you’d like to give.
- Choose your payment method. A debit/credit card or your bank account may be used.
- You can send an amount of $10,000 through MoneyGram.
Charges for Transferring Money from MoneyGram to Pakistan
MoneyGram has a $1.99 minimum charge for sending money to Pakistan through the internet.
Author Bio
M Junaid Lead Writer, Content Marketer at Sigma Properties [Real Estate], A writer by Day and reader by night
