Posted June 20th, 2023
How to Transfer Money to Pakistan from the UAE: A Money Transfer Guide
When thinking about how to transfer money to Pakistan from the UAE, it is important to choose the most reliable, instant, and commission-saving service. Even if such a service will only save a few dirhams with every transfer, you can still buy yourself a "doodh pati chai" with it to appreciate the hard work you're doing for the family back home.
According to UAE Moments, a media platform in the UAE, Pakistanis make up 12.5% of the UAE's total population, making them the second largest group after Indians.
Furthermore, remittances from Pakistanis living abroad are critical to the country's economy. Based on statistics from the World Population Review, an independent organization providing international demographic data, in 2021, Pakistan received $33 billion from foreign workers.
While the Gulf area contributes to most of it, the UAE stands out along with Saudi Arabia.
Luckily, the UAE has a well-established international money transfer market. Banks, exchange houses, and digital transfer services are widely available throughout the country.
This resourceful guide will provide everything you need to know about how to transfer money to Pakistan from the UAE. We’ll cover the following:
- International money transfers in the UAE
- What to consider when transferring money to Pakistan from the UAE
- How to transfer money to Pakistan from the UAE using Hubpay
- Additional features Hubpay offers besides international money transfers
[Looking for a free way to send money to Pakistan from the UAE, no matter the amount? Hubpay offers international money transfers with multiple additional services such as bill payments and airtime recharge. You can join for free by downloading the app on Apple store or Google Play.]
1. International money transfers in the UAE
It is not surprising that the UAE is one of the largest senders of remittances in the world. According to The National, the United Arab Emirates is the second-largest sender of remittances in the world after the US, and this includes large volumes sent to Pakistan.
However, with many available payment methods to send money to Pakistan, it is important to thoroughly research all options – including exchange rates and transaction service fees – to avoid losing a substantial amount of money.
The following are the three most common ways to transfer money:
The conventional way to transfer money internationally is through bank transfers. Although many banks in the UAE provide sufficient money transfer service, it’s usually more expensive because of higher margins and transaction fees. Additionally, it takes more time to complete the transfer.
Because they offer cash pickup and international money transfers, including bank-to-bank transfers, exchange houses are the favorites of newcomers and expats without bank accounts or bank deposits.
Nevertheless, the disadvantage of exchange houses is their exchange rate, which might differ from the official rate. And this is in addition to the higher transfer commissions.
Online money transfers have become a simple, dependable method to remit money abroad in the innovative fintech era. Websites and mobile applications offer a more convenient, hassle-free way that can be used anytime from the comfort of your couch and anywhere in the UAE.
As per Research and Market report, a market research center in Dublin, Ireland, digital remittances alone are anticipated to surpass $19.65 billion in 2022, with a projected total of $60.05 billion by 2030.
Hubpay, a company providing online money transfers, offers a safe, user-friendly mobile app with instant money transfers and good AED to PKR exchange rates without worrying about cash pick up.
2. What to consider when transferring money to Pakistan from the UAE
Before deciding on how to transfer money to Pakistan, there are a few factors to consider:
Currency exchange rate
The foreign exchange rate is one of the most important variables that changes constantly. Some service providers have their own rates, while others use the interbank rate. Therefore, look around to find the best rate.
Money transfer fees
Depending on the service provider, transfer fees can be expressed as an up-front fee or a change in the exchange rate. In some circumstances, there are also hidden costs. To find the best service with the lowest costs, consider different options.
The transfer limits should be considered when determining how to transfer money to Pakistan. These restrictions may be applied to each remittance as a minimum and maximum threshold or as a cumulative sum over a period of time.
Traditional money transfer services typically require more time and higher fees for urgent transactions.
Therefore, to ensure the money will be received as soon as possible, it is necessary to check the transfer’s timeline to know how long it will take.
3. How to transfer money to Pakistan from the UAE for free using Hubpay
Learning how to transfer money to Pakistan from the UAE is one of the most frequently asked questions by Pakistani expats living here.
As an answer, Hubpay offers an all-in-one mobile app for international money transfers. The benefits of using the Hubpay app include:
- It's absolutely free – no matter the amount you send to Pakistan
- Instant money transfer
- No hidden fees
- Direct AED transfers to your family and friends, who will receive it in Pakistani rupees at home
- Good AED to PKR exchange rates
If you like the above-mentioned features Hubpay offers, you can set up your account with a few simple steps as demonstrated in the following:
Setting up the app
The Hubpay app is available for Android and IOS users. First, download the application from the appropriate app store on your mobile phone, install it, and open the app to start setting up your account.
Creating a new account
All you need is your phone number to register for a new account. As part of the UAE's know-your-customer (KYC) requirements, the app will need to scan your Emirates ID to complete the registration.
You can discover all the steps on how to create an account on the video below
Securing your account
Hubpay offers advanced security measures to safeguard your account in case of identity theft, mobile theft, or the loss of access credentials.
The first method is the use of One-time passwords(OTP). With this, you will receive a unique temporary code via a text message sent to your mobile device when you need to access your account. The code is only good for three minutes.
The other method relies on the unique characteristics of your face, which, like your fingerprints, cannot be copied. The Biometrics method scans your face and saves it in the app’s database. You can log in to your account anytime by scanning your face instead of the one-time password for a more seamless user experience.
Setting up your money transfer service
You must link a bank account to your Hubpay account in order to transfer money to Pakistan.
Hubpay integrates your bank account with your Hubpay account using the Lean system, which also speeds up money transfers from your bank account to your Hubpay account. You will only need to complete this step once, and you can make as many transfers to your Hubpay account as you need without having to enter your information again.
Click "Add Money" on the homepage to open a new pop-up tab that says "Link Your Bank Account."
Click "Get Started" in the "Link Your Bank Account" tab.
Then “Set up Payments” appears as a new tab.
Select your bank and enter your account information.
You can add money in AED to your Hubpay mobile wallet once you've linked your bank account number. Click the "+" sign in the top right corner of the app's homepage to add money.
After you review and accept the payment amount, it will be added immediately to your Hubpay mobile wallet. You can repeat this process whenever you want to recharge your wallet.
When you select Pakistan from the homepage, all applicable transfer fees and the current AED/PKR exchange rate are shown in full, with no additional charges. To send money, enter the recipient's bank account information and the desired amount by clicking the blue "Send Money" button at the bottom of the homepage.
The same amount of money you entered will then be transferred instantly to the recipient's account in Pakistani rupee after you review the transaction details to ensure everything is set up properly.
Additional features Hubpay offers besides international money transfers
- ● Chat feature: You and the recipient can have a two-way conversation in real-time using Hubpay's in-app chat.
- ● Transactions history: The "Transaction" tab on the main page lets you view all your transactions. It details the transaction's current status, including any pending or completed transitions and an estimated completion time.
- ● Add-on services: You can pay bills and recharge mobiles in Pakistan and the UAE using the two additional payment options available in the "Add-on Services" section at the bottom of the homepage:
- ○ International bill payment: You can pay bills on behalf of your family and friends in Pakistan from the UAE.
- ○ International mobile recharges: You can keep in touch with loved ones and never worry about losing service. The Hubpay app makes it easy to top-up your mobile phone and that of your loved ones in Pakistan.
[Looking for a cost-efficient, trusted, and easy way to send money to Pakistan from the UAE? Download the Hubpay app on Apple store or Google Play to enjoy international money transfers with multiple additional services such as bill payments and airtime recharge.]
- About 12% of the population of the United Arab Emirates are Pakistani expatriates.
- Banks, exchange houses, and online platforms facilitate money transfers to Pakistan from the UAE.
- The exchange rate, fees, transfer speed, and transfer limits are crucial factors when transferring money to Pakistan from the UAE.
- Hubpay's security is unparalleled because of two factors: using a one-time password (OTP) and incorporating biometrics.
- Hubpay also allows you to recharge mobile phones and pay international bills for friends and family abroad.