How to Send Money abroad from Pakistan for Investment is a very important question that many of us faces.
Whenever we think of remitting money amount the most convenient way we feel is to send it through Western Union or Money Gram. as both the companies have there branches in most of the countries abroad but the issue arises when one needs to send big amount of money as we know a limited amount of money can be sent through Western Union and Money Gram etc.
Suppose you decide to remit amount abroad from Pakistan through Western Union or Money Gram etc.
The you need to follow simple two steps;-
- Find the agent near your location.
- You must carry the following information with you when visiting the Money Gram agent. Nadra-issued (CNIC, NICOP or Passport) Recipient full name and address contact numbers & Relationship to whom money to be sent.
However to send money abroad for Investment purpose through bank for investment purpose will require you to fulfill certain required documentary formalities before proceeding for money transfer.
Although you may select any bank but by far the most Standard Chartered Bank offers very convenient banking services for sending money abroad.
It includes Instant or same day fund transfer whether you are sending money for children’s tuition fee, your own international account or sending money back home.
It also provides information and you can easily view how much you are paying on foreign exchange and charges before initiating a transfer.
A customer needs to first open a Bank Account subject to basic Account opening formalities before initiating online funds transfer’s specially.
Although there are other ways of remitting money from banks too for which one needs to physically visit the concerned branch for execution of the transaction with justified reason and document for sending huge amount in particular.
In general following documents are required for Account opening;-
1. Valid ID document.
2.Customer latest valid source of income.
For details you can view Standard chartered official website: https://www.sc.com