09 Sep 2024
Did you know that in 2023, 27 Billion USD was sent to Pakistan in remittances? The economy of Pakistan is highly dependent on remittances. Recently, Germany has seen an influx of Pakistani expats totaling 140,000 in population. The flow of remittances is exceptionally high during the holidays as expats send money to Pakistan from Germany to financially support their loved ones back home. However, one huge problem is the delays due to the holiday season. The problem arises when a family cannot receive their monetary gifts on time. Keep reading this blog to learn how you can tackle this problem smoothly.
The currency exchange market is closed, and most banks function to a limited extent during German bank holidays. This is the reason why traditional money transfer services face numerous obstacles. One solution is to look into other options for easy transfer of remittances to Pakistan, such as prepaid debit cards, mobile money, or online money transfer services like ACE Money Transfer. When transferring money on a German bank holiday, a few factors must be considered, such as fees, transfer duration, and currency rates, to ensure an effective and affordable transaction.
It is understandable that celebrations should continue even on bank holidays. For such celebrations, financial support is often needed from loved ones overseas. But there are some troubles that arise when getting financial assistance during holidays.
Bank holidays may result in branch closures or shortened hours, impacting in-person services.
Direct deposits may be delayed due to bank holidays. Financial institutions are frequently closed on regular business days when holidays fall on them, so transactions, including direct deposits, may only be executed on the next business day. This may impact paychecks, government benefits, and other regular payments.
Bank holidays may cause delays in processing various financial activities, such as wire transfers, ACH transfers, bill payments, and money transfers between banks. Transactions started on or around a bank holiday may take longer to show up in your accounts.
A check deposited near or on a bank holiday may take longer to clear, delaying the money's availability. However, mobile banking apps and electronic check deposits can speed up this procedure.
While many service providers charge extra for premium services like speed, security, and competitive rates, ACE Money Transfer offers all these benefits, plus the freedom to choose the optimal time to transfer money. Moreover, ACE Money Transfer works round the clock, despite holidays. You just need your phone and stable internet connection to initiate the transaction. Even on holidays, ACE will take only a few seconds to complete a money transfer from Germany to Pakistan. Here are some top features of ACE that set it apart from other services.
You can get market-competitive rates with ACE and be free to ask for the most recent pricing. This gives you the option to start the transfer right away or to wait for favorable rate changes. In this way, ACE gives you total authority over your remittance choices.
Using ACE, your money will be sent quickly across borders in just 7 seconds. This speed strengthens the strong security measures. ACE establishes multiple levels of protection to provide superior security measures and stop scammers from taking advantage of the transaction.
The transferred money is subject to a small percentage fee from ACE. These charges become effective only if a predetermined amount is met. This indicates that no fees are usually associated with sending money below that limit. Surprisingly, all of these features and more are offered without charge. This distinguishes ACE from numerous other financial institutions and service suppliers.
If you wish to send money from Germany to Pakistan almost instantly, regardless of bank holidays, then ACE is your best friend., ACE Money Transfer instantly makes internet remittance transfers simpler and quicker. Just follow these steps to ensure a smooth transaction.
First, create an account using the ACE Money Transfer website or mobile app. Then, provide the requested information to create a convenient and safe account.
Add the missing information to your profile and submit the necessary identity documents to complete it. This phase guarantees adherence to legal specifications and promotes an efficient transfer procedure.
Pick the payout option you prefer and designate the country where your family lives as the receiving country. Enter the recipient's information accurately to ensure that the online money transfer reaches the designated recipient quickly and securely.
Finish the transaction by choosing your favorite payment option. For your convenience, while making online transactions, ACE Money Transfer offers various alternatives, including using a bank account, debit/credit card, Google Pay, or Apple Pay.
Once you have clicked send, the funds will reach the recipient quickly. You can track your transaction history from the ACE app.
Never keep your loved ones waiting for financial assistance during the holidays. They need to buy things for themselves to celebrate fully. Use ACE Money Transfer to make an online money transfer from Germany to Pakistan so your loved ones can feel the beauty of festivals. You can sign up for free on ACE and use it to benefit your loved ones.
Yes, many online money transfer services allow you to schedule transfers in advance, ensuring that your remittance arrives on time, even during holidays.
To avoid delays, it's best to send money a few days before major holidays when banks and exchange markets are open.
Some services may charge extra fees for expedited transfers during holidays. It's important to check with your provider beforehand, but ACE does not.
Exchange rates can be volatile during the holiday season due to lower trading volumes. Monitoring rates closely can help you choose the best time to transfer.
Yes, ACE Money Transfer offers real-time tracking so you can monitor your transfer status during holidays.
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