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Making International Payments From Pakistan: The Methods, Steps and Best Practices

Learn the best ways to send and receive international payments from Pakistan, including secure methods and tips to reduce costs.

Making International Payments From Pakistan: The Methods, Steps and Best Practices
Making International Payments From Pakistan: The Methods, Steps and Best Practices

Payoneer Team

If you want to make the most of opportunities beyond Pakistan’s borders, you’ll need the ability to send and receive international payments. Cross border payments are, by their very nature, more complicated than domestic ones – involving additional currencies and regulatory frameworks – but don’t be put off. This guide outlines the options, the processes and best practices for secure, cost-effective global transactions, while using a payment platform like Payoneer will make it easy.

How to make international payments to and from Pakistan

There are multiple methods of making foreign payments, and which you choose will depend on the circumstances of your business, and the size and volume of payments to be made.

Traditionally, bank transfers have been the main way to make an international payment, and other methods of payment in international business have been challenging – because some platforms like PayPal, Shopify and Stripe have found it difficult to operate within the country because of compliance issues. However, new fintech payment platforms, including Payoneer, are now filling the gap and there is a choice of global payment systems offering secure and cost-effective ways for Pakistani businesses and freelancers to make and accept international payments.

These are some of the choices for making international transactions:

  • Bank transfers using SWIFT: This traditional method takes longer than using payment platforms and often works out more expensive
  • Money transfer operators like Western Union: Fast cash transfers for personal use but not so good for businesses
  • Digital payment platforms: These are the most convenient way for making and receiving overseas business payments. They are faster, better value and more transparent than traditional banking
  • Cryptocurrency: This falls into a grey area when it comes to legality and is generally considered too risky

Making an international payment from Pakistan

Whatever method for making international payments from Pakistan you choose, these are the typical steps you will need to go through to make a payment:

  1.  Log on to your bank or payment platform account
  2.  Add the details of the payee, including name, address and account details
  3. Confirm the amount and the currency of choice
  4. Confirm the details and make the payment

Best practices for international transactions to and from Pakistan

You may want to hold some of the payments you receive in USD and convert them strategically when FX rates are favorable. Payoneer local receiving accounts and multi-currency accounts allow you to do this, helping you manage currency conversion more effectively.

It is also worth monitoring FX rates and making withdrawals when PKR is weaker, as well as consolidating your withdrawals to minimize per-transaction fees. If you are eligible, registering with PSEB can also help you access preferential tax rates.

The benefits of using a payment platform like Payoneer

Of all the global payment systems operating in Pakistan, Payoneer is the most popular platform with Pakistani freelancers, and this is because of the range of benefits it offers:

  • Payoneer has proved itself one of the best ways to accept international payments as it offers highly competitive FX rates, usually within about 0.5% to 1% of market rates, and transparent pricing
  • Users can easily integrate their Payoneer account with the most popular freelance platforms and ecommerce marketplaces
  • Multi-currency and local receiving accounts are part of the Payoneer model, making it easy to get paid by clients around the world
  • Withdrawing money into Pakistani bank accounts in PKR is fast and easy
  • Payoneer offers good integration with JazzCash, enabling instant withdrawals to JazzCash mobile wallets
  • Customer support and resources are second to none

Choosing Payoneer as your payment platform in Pakistan will certainly contribute to your success story.

Frequently asked questions (FAQs)

Take the following steps to send an international payment from Pakistan:

  • Sign up for a Payoneer account and complete the verification requirements
  • Add the necessary funds to your account
  • Follow the ‘Make a Payment’ instructions
  • Check you have the correct bank or Payoneer account details for the recipient
  • Confirm the details, the currency and the amount
  • Complete the transaction

Receiving an international payment in Pakistan using Payoneer is very straightforward, and there is a choice of methods:

  • Open a local receiving account within Payoneer so the for the person sending the money it’s as simple as paying into a local bank account
  • Send a payment request or electronic invoice, including your account details, so they can pay you using a card or bank transfer
  • Link your Payoneer account to your account on a freelancing platform and invoice your client there – the payment will be made directly into your Payoneer account

Once payment has arrived in your Payoneer account, you’ll be able to withdraw it to your Pakistani bank account in PKR.

Yes – multi-currency accounts are one of the easiest ways to make international payments, and Payoneer supports them in Pakistan. A multi-currency Payoneer account lets you:

  • Receive and hold multiple currencies
  • Set up separate receiving accounts for each currency you deal in
  • Convert the currencies within your account
  • Pay and accept payments globally

Payoneer’s fees and exchange rates are highly competitive:

  • Receiving and sending payments to/from another Payoneer account is free
  • Receiving via bank transfer is free or up to 1%
  • Receiving credit or debit card payments is up to 3.99% plus a fixed fee
  • Sending funds to other bank accounts will cost between 1% and 4%
  • Withdrawals are charged at between 0.5% and 3%
  • There may be an annual low activity fee for some accounts
  • FX fees are usually 1% to 2% above market rate

Payoneer compares favorably against traditional banks when it comes to transaction times. Traditional banks use the SWIFT system, which usually takes three to five working days. However, if you are making a Payoneer to Payoneer transfer, it will be instantaneous, while international payments coming into Payoneer will usually take between one and three working days.

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The information in this article/on this page is intended for marketing and informational purposes only and does not constitute legal, financial, tax, or professional advice in any context. Payoneer and Payoneer Workforce Management are not liable for the accuracy, completeness or reliability of the information provided herein. Any opinions expressed are those of the individual author and may not reflect the views of Payoneer or Payoneer Workforce Management. All representations and warranties regarding the information presented are disclaimed. The information in this article/on this page reflects the details available at the time of publication. For the most up-to-date information, please consult a Payoneer and/or Payoneer Workforce Management representative or account executive.
Availability of cards and other products is subject to customer’s eligibility. Not all products are available in all jurisdictions in the same manner. Nothing herein should be understood as solicitation outside the jurisdiction where Payoneer Inc. or its affiliates is licensed to engage in payment services, unless permitted by applicable laws. Depending on or your eligibility, you may be offered the Corporate Purchasing Mastercard, issued by First Century Bank, N.A., under a license by Mastercard® and provided to you by Payoneer Inc., or the Payoneer Business Premium Debit Mastercard®, issued and provided from Ireland by Payoneer Europe Limited under a license by Mastercard®.
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