14 Nov 2024
Did you know that there are 1.5 million British Pakistanis who regularly send money to Pakistan from UK? Managing expat finances becomes much easier when exploring foreign and international banking opportunities.
The following will be some recommended banks for Pakistani migrants in the United Kingdom.
One of the banks that is considered notable and has a strong standing is HSBC. It becomes pretty easy for Pakistanis, specifically those willing to live in the UK and carry out banking services due to how HSBC operates and deals with their international banking. Here are some of the great benefits that come with this banking service;
HSBC multicurrency accounts with notable currencies such as GBP and PKR.
With a large number of networks in the UK and Pakistan, users can rest assured that they will have ready access to their funds.
HSBC has impressive online and mobile banking features that help in account management, funds transfer, and bill payments
While it is possible to send money to Pakistan online within HSBC accounts using their Global Money Transfer services, it is worth noting that this service operates on many platforms, including ACE Money Transfer. HSBC further assists migrants through financial literacy, which helps them effectively utilize savings, credit, and investment opportunities.
For Pakistani migrants in the UK, Barclays is the most popular banking solution, as it offers a comprehensive range of services. Well-known for its agility and a complete range of banking products, Barclays offers:
Current accounts have no fees and can be easily opened with just a few documents, which is useful for migrants arriving for the first time in the UK.
Sending remittances to Pakistan is relatively easy because Barclays has links with ACE and other international money transfers.
Mobile banking is also available with a Barclays app that facilitates international transfers, making payments and expense tracking easy.
The Pakistani migrants do not have to compromise since Barclays also provides Islamic finance-compliant services through Barclays Wealth.
Read more: UK Online Banking: Avoiding Fraud and Protecting Your Account as Filipino Expat
Lloyds Bank services are effective and simple and have been around for a long time
The lack of transfer fees could benefit sending money to Pakistan, as Lloyds Bank charges nothing for international transfers.
Using the Lloyds Bank mobile app, you can access your accounts, settle bills, and send funds to Pakistan without time limits.
Lloyd's offers overdrafts and personal loans, which are useful for migrants starting their lives in the new country.
Lloyds Bank provides attractive savings account interest rates that are convenient for migrants.
Providing overall banking and support services based on the strong needs of the migrant population, Lloyds Bank is popular in the services it offers to clients.
Opening an account with NatWest is easy for newcomers to the UK with no substantial financial history.
NatWest has exchange rates that are affordable and reasonable for making a money transfer from UK to Pakistan.
No fee accounts are appropriate for migrants looking for inexpensive, easy-access accounts.
With NatWest, budgeting expenses, savings, and other financial tools remain functional and easy to access.
Like Barclays, NatWest provides Islamic banking services, helping Pakistani migrants who prefer Sharia-compliant financial services.
Use your bank for remittances if you wish to avoid hefty fees and unfavorable exchange rates. Instead, opt for online services to ensure your pocket remains safe.
ACE Money Transfer's quick and instantaneous transactions have made remittance simple. You can send money anywhere in the world in only a few hours and seconds. ACE facilitates real-time transactions in minutes when traditional remittance techniques are sluggish.
There are growing risks of cybercrime, so many are afraid to send money using online platforms. ACE Money Transfer guarantees user security by offering consumers cutting-edge security measures. ACE is a registered service with contemporary features like biometrics, encryption, 2FA, strong passwords, and fraud filter detectors.
ACE's cheap transfer costs have simplified and facilitated remittance transactions. Additionally, ACE offers a first-free online money transfer to any nation. For the convenience of its clients, it maintains a transparent pricing structure, unlike many remittance firms that impose extra costs.
Exploring banking opportunities in your host country to make money management more convenient is always a great idea. You can rely on ACE to handle your remittance concerns at affordable prices. Sign up for free and send money online to Pakistan from the UK with the utmost convenience and affordability.
Yes, some banks like HSBC offer international account opening services for expats.
Typically, you need identification, proof of address, and visa status.
Some banks may require a UK number, but many also allow international numbers.
Yes, banks like Barclays and NatWest provide Sharia-compliant Islamic banking services.
Some banks, like Lloyds Bank, offer free transfers, while others may charge a fee.
