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Money Transfer from Pakistan to Europe,

(88004)
Wednesday, May 20, 2015 09:18 PM 

Salam to all reader,

Its always been helpful to get comments and personal experience shared on this forum.

I live in Europe and I have quick question to readers if anyone has done it recently or know what is secure, fast & economical way to transfer Money from Pakistan to Europe to buy a property here in Europe.

I want to sell property or to en-cash National Saving Certificates in Pakistan to buy property here in Europe and would like to transfer money in a range of Rupees 10 to 12 million or converted Money in Currency Euro. I would really appreciate if anyone has recently transfer foreign currency in any European Country or know it how it is being done?

I know and I heard the news about wrong ways of foreign money transfer which I really don't want to take risk.

1. Is there any limit to transfer money from Euro or Rupees account in Pakistani Bank?

2. Would State Bank of Pakistan get alert if such amount of money transfer through Bank although source of money could be shown that its from sale of property or saving certificate? or cause any other issue for me or would this be a normal

3. How much a Pakistani Bank charge you for x amount of money to transfer outside

4. Is it safe and economical to transfer money through Currency Exchange companies in Pakistan? If yes, how do we pay them in secure way to transfer money in Euro currency to Europe.

5. Is there any other way to transfer money than through Bank or Currency/Money Exchange companies

Thanking you with best regards and awaiting for helpful comments.

Europeanperdesi replied on Wednesday, May 20, 2015 09:27 PM 

Dear Brother CMY,

I know you are online now this time as can see your are posting some updates, would you have any idea about this if you can please get a chance to advise?

Thanks a million

CMY replied on Thursday, May 21, 2015 12:10 AM 

Sorry I am not updated on this subject.

buy123 replied on Thursday, May 21, 2015 03:00 AM 

my friend, FBR is alerted for every transaction of 2 Million+ PKR in any Pakistani account.


Bank Transfer steps
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1 - open a euro account or a dollar account in any Pakistani bank
2 - convert your PKR to euro or dollar and submit in that account
3 - give transfer instruction to your bank who would transfer it to your europe bank

NOTE: bank charges are very minimal .e.g 20 USD per transaction

Adnan replied on Thursday, May 21, 2015 06:02 AM 

I recently sent money to the Gulf in my account using an exchange company in Lahore. I paid a cheque to them and got the money in my account in Bahrain in four days. They charged me 65$ fees plus the dollar conversion rate of around 103.40 which was slightly higher but I did not mind too much due to the convenience. It is perfectly legal and secure. Going through bank is very tidious, you have to open dollar account, buy from the market, deposit, then go through a month long process with too much documentation, not worth it. Name of the company is Links Exchange on the main boulevard, if you are in Lahore. cheers
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