Can you wire/TT money out of Pakistan?


#1

Can I go to my bank and give them the details (SWIFT code etc) of account in foreign bank in which I want to transfer money from Pakistan ? I pay them in rupees and them send the dollars onward?


#2

Yes, though it might be a bit expensive.


#3

[quote=", post:, topic:"]

Yes, though it might be a bit expensive.
[/quote]

than what is the recommended way for taking funds out of Pakistan? e.g. If a student is going overseas than how can he transfer money ?


#4

^ That is the recommended method. The cost for each wire transfer is usually in the $30 range.


#5

[quote=", post:, topic:"]

^ That is the recommended method. The cost for each wire transfer is usually in the $30 range.
[/quote]

thanks and does western union cost more?


#6

^ Yes I do believe western union costs more, but I've never tried it personally.


#7

Western union and money gram cost 10 to 15 % plus almost 2 rupess extra on exchange rate from the open market as well

cost of telegraphic transfer would be almost 1000 per transaction any amount


#8

thanks

and I think different banks will be having different charges? which one among them is good for AUD transaction?


#9

[quote=", post:, topic:"]

Yes, though it might be a bit expensive.
[/quote]

Also, it requires a foreign currency account. And you do not know exactly how much will be deducted by an intermediary banks. The charge by bank (usually $15-30) won’t be inclusive of intermediary banks, usually.


#10

It cost me US$66 on a US$1200 amount some time back.


#11

Its 15$ now !

Send any amount and bank will charge 15$ on top of it


#12

^^^ Which bank is that through???


#13

Any bank but transaction would be done in USD !

And account has to be dollar.


#14

#15

[quote=", post:, topic:"]

Its 15$ now !

Send any amount and bank will charge 15$ on top of it

[/quote]

No, it doesn’t. My transaction involved 2-3 banks so slightly higher charges but it gives you a good estimate.


#16

#17

You can carry as much as you want. If its under 10k$, then it doesnot needs to be declared. Above that would have to be declared