USA replied on Thursday, August 4, 2011 05:13 PM
Hmmm. I have two HSBC accounts. One in USA and the other in Islamabad. When transferring I do not encounter any additional charge. You can however call your receiving bank and I am almost 100% sure the receiving bank (e.g Habib bank etc) won't charge any. For them it is just a credit amount to an existing account. The charge is for the sending money from the source account.
I have also sent money via Pakistan bank in USA (e.g UBL) in the past and they don't charge any wire transfer fee, but their excahneg rate is 1 to 2 ruppee less than market rate, which for $50K translates to 50K ot 1 lak ruppees (much higher than $30 fee I pay)
If you have to send money periodically and for the future, I advice to open two account, as I did. I can wire the money online from my US account to my Pak account. I can then pay money to anyone in Pakistan via cashier check delivered to anyone at home (fees 200-300 ruppee per transaction). HSBC is extremely secure. They always call you in US to confirm each transaction. Their online is also secured through dual signon authentication (sorry IT terms) :-) |
