Money Transfer Solution for Pakistan from Saudi Arabia – Easypaisa by Telenor Pakistan (Updated)

Originally Posted on Wednesday, August 5, 2015:

International Home Transfer   International Home Transfer through Mobile Account

About Easypaisa                                                                                                                                                                                                                   Pakistan’s first and largest branchless banking solution, Easypaisa, was launched jointly by Tameer Micro Finance Bank and Telenor Pakistan in 2009. Easypaisa has the largest financial footprint in Pakistan with over 60,000 Easypaisa shops in more than 800 cities across the country. Nearly 500,000 transactions are conducted on Easypaisa every day by 15 million active customers. In 2014, Easypaisa moved nearly 2% of Pakistan’s GDP. Easypaisa has the largest product portfolio of services for its customers including remittances, payments, savings and insurance and offers ATM cards and IBFT services that work with all banks connected through 1-Link in Pakistan. In February 2014, out of more than 250 Mobile Money services around the world, Easypaisa was awarded two GSMA Awards, including the “Best Mobile Money Service in the World” at the Mobile World Congress, Barcelona, Spain. For more information, please visit: http://www.easypaisa.com.pk About Tameer Microfinance Bank Limited Tameer Microfinance Bank Limited (TMFB) is the first scheduled and largest Microfinance Bank in Pakistan. Incorporated in 2005, it provides micro‐finance and related financial services to the less privileged and unbanked segment of the society with an aim to contribute towards poverty eradication under the Microfinance Institution ordinance, 2001. TMFB currently has over 153 customers touch point’s nationwide offering a range of financial services including Deposits, Loans, Mobile Accounts, Health Insurance, Remittances, Cash management services, Bank on Wheels. Based on the results for the year ended 31 December 2013, the credit rating company PACRA upgraded the long‐term entity rating of Tameer to "A+" (Single A Plus) [Previous: "A"] while maintaining the short‐term rating at"A1" (A One) as of February 27th, 2014. About Telenor Pakistan Telenor Pakistan is a provider of high quality telecommunication services in Pakistan since 2005. It has 36 million subscribers, over 2,800 employees and a nationwide network covering more than 8,000 cities. Telenor also holds a majority share in Tameer Micro Finance Bank Limited. Telenor Pakistan is 100% owned by Telenor ASA and adds on to operations in Asia. For more information, please visit: http://www.telenor.com.pk

 

From: Kashif Iqbal

 

Comments from Readers:

• Adnan UL Haque: Normal remittence through Rajhi Bank / NBP etc. cost 1.5 % (approx.) more than normal open market rate in paskistan. If we do online transfer thru Saudi Online Banking (e.g. SABB bank intrenet transfer etc.) then it Cost even 3% more than normal rate. So, If anyone knows how costly is this easypaisa transfer then please share.

 

• Muhammad Jurial: I have used almost all of these. Remittances via Saudi Post is free to Pakistan! They have very good rates too compared to other remittance companies/Banks!

 

• Rizwan ul Haque: check TeleMoney

 

Update(20th August 2015):

• Adnan UL Haque: Today I have done some transfer from NBP (National Bank of Pakistan) and the rate is 26.87. As per dawn (http://epaper.dawn.com/Advt.php?StoryImage=20_08_2015_010_003) open market rate is 27.45.

SABB online transfer right now is giving 26.15.

So, if someone wants to transfer PKR 30,00,000 then he will be loosing SAR 2359 (which is a price of “security” … or airline ticket : ) ).

 

• Muhammad Jurial: I just confirmed with Saudi Post, today's rate with them for PKR is 26.80.​

 

-urShadow