Lahore Real Estate Forum

Start NEW Topic Or Post Advertisment

                                                          
 
Back to Forum |

Remittance in US$,

(50066)
   Pardesi, Jeddah
Sunday, January 18, 2009 08:46 AM 
Reply: >
A friend of mine has remitted US$ 1,000 to Pakistan from KSA out of which intermediary or some local bank has deducted $63 as foreign bank charges (from Al-Rajhi bank to MCB in Pak). I want to enquire from our informed friends if this is the normal practice from all other countries as well or is it restricted to some banks/countries; moreover if anyone can help with detail of charges, etc.

n.b. No deduction is made if we remit in Pak Rupee to a PKR account in Pak.

I hope CMY would allow this specific property related discussion :)
Rehmat ali replied on Sunday, January 18, 2009 09:04 AM 

Dear:

Same thing happened to me. MCB is totally non cooperative bank and did not help me with reason whereas the bank sending money from USA informed me that we have not cahrged any thing till money deposited in MCB even intermediate arrangement did not cost to USA bank or me.

This totall looting by our MCB.

Regards
Riyadh. Saudi Arabia replied on Sunday, January 18, 2009 09:34 AM 

Dear

I always use Tele Money www.anb.com.sa they only charge Sr 10 for sending upto SR 40,000 and the money is in your account in less than 4 days. if you have account in ubl it takes only one day i guess.

I am very happy from their services and nothing gets deducted as well.
Pardesi, Jeddah replied on Sunday, January 18, 2009 10:12 AM 

So u r saying u have sent US$ as well & there is no deduction?

SR 40,000 per day or month or per transaction?
Foreign replied on Sunday, January 18, 2009 10:47 AM 

Use national bank, they just convert $$$ into Rupee and transfer without any cost.
Liaqat Ali Khan replied on Sunday, January 18, 2009 10:53 AM 

As long as i know there is always some dedction on $ remittance if the banks are different. I am in BAHRAIN. If send from HBL Bahrain to HBL in Pakistan, NO deduction. But if i send HBL Bahrain to any other bank in Pakistan, there is always deduction.and vice versa. The deduction used to be ~ 35 to 40 $. It may have gone up now.
Rehman-Qatar replied on Sunday, January 18, 2009 12:11 PM 

From Qatar. if u send from UBL, Qatar to any bank in Pakistan, no charges are deducted. However, the money is recived in Pak rupees in Pakistan, it can be deposited in a bank A/c. UBL or non UBl . UBL also offers delivery of DD at home of the beneficiary. However. Pak. RUpees 150/- is charged for this service.

I think, there are correspondence bank charges from New york, if the money is send in US $ in a US $ A/c in Pakistan.
limo replied on Sunday, January 18, 2009 12:27 PM 

Pardesi bhi, i think there is no harm in checking with your MCB branch in Pakistan.
khan from canada replied on Sunday, January 18, 2009 05:07 PM 

If you are sending money through the bank which has direct interbank/ correspondent relations with the bank in Pakistan, then you get charged only what is told to you. In the above case seems like Al Rajhi doesnot have direct (Nostro/ Vostro)/ correspondence relations with MCB. They must have used another bank as intermediary bank to forward funds to MCB (and that accounts for extra charges). MCB would have not cahrged anything in this case

"No Charges" will be in the case of Pakistani banks only for home remittances. As advised above, use a Pakistani bank which will have presence in KSA to remitt funds and save charges
Information replied on Sunday, January 18, 2009 06:26 PM 

Hello Mr. Perdesi Jedhha,
As I know from my brief experience from year , about sending money home from KSA.
there are two different Al-Rajhi banks in Saudi Arabia. One is which is real bank and does not charge a single penny to send money to HBL.
Other Rajhi bank is mere a money transfer company which use to charge money depending on the ammount of money you send.
I also remember in my time there was a condition about sending the maximum amount, which use to be 9000SAR. If you need to send more you need to provide a letter from your employer writting that it is your money and you earned it.
I remember after sending 3 times 9000 SAR in one month still the bank manger asked me for the letter but real Al-rajhi bank does not charge any amount for remmiting money to Pakistan.
This facility of remitting money free of charge is a gift of P.Musharraf. before we only used hundi system and still paid money.
If now real al-rajhi bank have started to charge money than it has to do with our own govt. because india has ordered zardari to discourage remittances and empty forex reserves by distributing it to activists of PPPP on the name of BB.
Bringing Gold replied on Monday, January 19, 2009 07:20 AM 

In some previous discussions it was clear that USA allowed to bring 10 000USD in an international journey. KSA allowed 60000SR.

If some one can guide that how much gold we can bring in international journey. Can we bring about one kilo gold safely while going from Riyadh to Lahore?
Pardesi, Jeddah replied on Monday, January 19, 2009 09:27 AM 

It means that remittance in US$ has to bear FB charges.

Yes currency or Gold equvalant to SR 60,000
Waqar Latif replied on Tuesday, January 20, 2009 05:07 AM 

Use Hundi... that is the best way to send money to pakistan.. anyone sending money to pakistan from uk can contact me..

masterwaqar [at] gmail.com
>