Send money from Spain to Pakistan
See today's live rates — and exactly what your recipient receives, after every fee.
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Today's best rates to Pakistan
As of 14 August 2026, sending £1,000 to Pakistan, your recipient gets the most with Instarem: 320,697.00 PKR, the best of 5 providers compared.
| Provider | Rate | Fee | Recipient gets | Speed | |
|---|---|---|---|---|---|
320.70 0.09% better | £0 | 320,697.00 PKR | Within 2 days | Send | |
TransferGo | 319.86 0.17% worse | £0.89 | 319,579.55 PKR | 1–2 days | Send |
321.10 0.22% better | £8.16 | 318,480.82 PKR | Within 2 days | Send | |
314.68 1.79% worse | £0 | 314,677.90 PKR | 1–2 days | Send | |
312.31 2.53% worse | £5.99 | 310,440.27 PKR | Minutes to days | Send |
When you send money home to Pakistan, the cheapest route is almost always a specialist money-transfer app or company rather than your bank. The cost that matters most is hidden in the exchange rate: a bank typically keeps 2% to 4% in the rate, on top of any fee — so always judge a provider by the amount that actually arrives, not by a "no fee" claim. And Pakistan uses the IBAN, so paying into a Pakistani account is straightforward.
Spain is home to one of Europe's growing Pakistani communities — Spain's national statistics office (INE) recorded 99,352 Pakistani nationals registered as of January 2022, and the Pakistani Ministry of Foreign Affairs estimates around 108,000 people of Pakistani origin.
The community is heavily concentrated in Catalonia, above all the province of Barcelona, where over half of Spain's Pakistanis live, with the Ciutat Vella district and El Raval neighbourhood at its heart, and smaller groups in Valencia and Logroño.
Many came from the Punjab's Gujrat district from the 1970s onward and work in small retail, textiles, construction, agriculture and hospitality.
That makes the euro-to-rupee route a busy, competitive corridor — and on most amounts the exchange-rate margin matters far more than any headline fee: a 0.5% difference in the rate on €1,000 is roughly €5 of rupees, usually more than the fee gap between providers.
Because you are sending euros, the cheapest options here are the providers that genuinely serve Spanish senders — Wise, Instarem, Western Union and TransferGo — not the UK-only banks and brokers.
Sending from Spain: what you need
Sending from Spain is quick once you know what your recipient's bank or wallet in Pakistan needs and how to fund the transfer in euros. The first transfer takes a few minutes to set up; later ones are near-instant.
Compare on the rupees that actually arrive
Use the live comparison above. It shows only providers that serve Spanish (euro) senders, ranked by how many rupees land in Pakistan after both the exchange-rate margin and any fee — the only figure that matters.
Get your recipient's account or wallet details
Pakistan uses a 24-character IBAN. To pay into a Pakistani bank account you need the recipient's IBAN, or their local account number plus the bank's SWIFT/BIC code, at a bank such as HBL, UBL or MCB; many providers deliver over the country's instant-payment rails.
Direct deposit to a mobile wallet such as JazzCash or Easypaisa — using the mobile number tied to the wallet — is a growing alternative, and cash pickup at Western Union, MoneyGram or Ria agents is also available. Confirm the details with your recipient before you start.
Verify your identity once
A Spain-resident sender verifies identity on first use to meet anti-money-laundering (KYC) rules — typically a passport, EU national ID card or Spanish residence/work permit, plus proof of address such as a recent utility bill or bank statement.
Identity checks are required for transactions of €1,000 or more, and larger transfers may need proof of the source of funds. It is a one-off and takes a few minutes.
Fund the transfer in euros and send
Pay from your Spanish bank account by SEPA transfer (free; a standard SEPA credit transfer clears the next business day, SEPA Instant in seconds) or by debit card (usually instant). Avoid a credit card — most issuers treat a money transfer as a cash advance, adding a fee plus interest from day one.
Bank deposits, wallet top-ups and cash pickups in Pakistan often arrive within minutes; you will get a confirmation by email or app.
Funding the transfer from Spain by SEPA bank transfer is free — a standard SEPA credit transfer clears the next business day, while SEPA Instant can complete in seconds; a Spanish debit card is normally quick too.
Avoid a credit card, because most issuers treat a money transfer as a cash advance, adding a fee plus interest from day one.
There is no Spanish tax simply for sending money abroad as family support or a gift: Spanish gift tax (Impuesto sobre Sucesiones y Donaciones) falls on the recipient, so a gift to family in Pakistan is generally outside Spanish tax.
One admin point — Spanish financial institutions must report transactions of €10,000 or more to the authorities under anti-money-laundering rules; that is a reporting requirement, not a tax or a limit.
How the money reaches Pakistan
What account details you need
Pakistan DOES use an IBAN — a 24-character number beginning "PK". It is mandatory for every domestic and cross-border transfer, so your recipient will have one.
How the money is delivered
Once your pounds are converted, the money is delivered locally inside Pakistan. You don't choose the network — the provider does — but here is what is used.
Ways your recipient can receive it
Most providers can pay into a bank account (IBAN), mobile wallet (JazzCash, Easypaisa, SadaPay) or cash pickup. The right choice is usually whichever is cheapest and fastest for your recipient. Cash pickup is the fallback where a bank account or wallet isn't available.
What you actually pay to send money to Pakistan
Pakistan reimburses banks for qualifying home remittances, so the receiving side is often free. That is good news, but it also means the whole cost shifts onto the exchange rate the sender is given.
The exchange-rate mark-up
The big one. Banks and some apps quote a rate a little worse than the real mid-market rate and keep the difference — often 2% to 4%. Because it is a slice of the whole amount, it usually dwarfs any upfront fee.
Correspondent-bank fees
An ordinary bank wire can pass through one or two intermediary banks, each able to take a small cut before the money arrives. Specialists using local payment networks usually avoid this entirely.
"No fee" hiding a poor rate
A headline "zero fee" means little if the rate is weak. Judge an offer by the money that actually arrives, not by whether a fee is shown — the comparison above ranks providers exactly that way.
Free to receive under the PRI, but watch the rate
Under the Pakistan Remittance Initiative the State Bank reimburses banks for handling a qualifying home remittance (broadly $200 or more), so your recipient usually pays no fee. The cost then sits almost entirely in the exchange rate you are offered.
This is also why a regulated channel can beat informal hawala or hundi on the actual rupees delivered, not just on safety. Always compare on the rupees that land, not on a 'no fee' headline.
The official rate versus the open-market gap
The rupee is a managed float, and a gap can open between the State Bank's official rate and the parallel ('open') market rate. When that gap widens, the rate a provider passes on can drift, and informal operators lean on it to look cheap.
A licensed bank, exchange company or transfer app keeps you on the regulated rate, which is traceable, tax-free in the bank channel, and refundable if something goes wrong.
How you pay from the UK changes the cost
Funding the transfer from the UK by bank transfer is free and clears in one to two working days; a debit card is usually free and instant. Avoid a credit card — most UK card issuers treat a money transfer as a cash advance and add around 2–3% plus interest from day one.
Regular senders can set up a direct debit on some platforms. You verify your identity just once on first use — a UK address proof plus photo ID — which takes a few minutes.
Watch correspondent-bank fees on larger sums
On bigger transfers — say over £5,000 — the way the money travels starts to matter. Sent by old-style SWIFT bank wire it can pass through one or two intermediary 'correspondent' banks, and each can take a slice before it lands, so the rupees that arrive fall short of the quote.
The specialist providers in the table above mostly pay out through a local Pakistani bank partner and Raast instead, which avoids those intermediary deductions.
Roshan Digital Accounts: powerful, but with one funding rule
Roshan Digital Accounts: powerful, but with one funding rule
If your recipient is an overseas Pakistani (an NRP), they may use a Roshan Digital Account (RDA) — opened remotely in about 48 hours, fully repatriable, and able to hold Naya Pakistan Certificates.
The catch most people miss: an RDA can ONLY be funded by a foreign remittance from the account holder's OWN overseas account, not by a third party. If you are sending money to a relative, it goes to their ordinary bank account (by IBAN), not into your RDA.
How to avoid fraud when sending money to Pakistan
On any large transfer the biggest risk is rarely the exchange rate — it is criminals getting between you and the money. These simple rules are worth knowing before you send.
Raast / OTP collect-request scam
Rule: to RECEIVE money you never need to share a one-time PIN or approve a Raast "request to pay". Approving such a request sends money OUT of your account; genuine incoming money lands by itself. If a caller talks you through approving anything to 'unlock' a transfer, hang up.
Fake exchange-company / agent scam
Rule: only send through a licensed bank, exchange company or money-transfer app. An "agent" offering a rate that looks too good, paid in cash off the books, has no protection and breaks the tax-free banking-channel rule.
"Wrong transfer, please refund" scam
Rule: if you must return money, make a fresh transfer yourself to details you trust — never use a reversal link, refund button or payment request the other person sends you.
Fake FBR / SBP "penalty" call
Rule: the FBR and State Bank do not phone you to demand an instant payment to release a remittance. End the call and report it on 1991.
If you are a victim of fraud, dial the FIA Cyber Crime helpline on 1991 (or 051-111-345-786), staffed Monday to Friday, or file a report any time at complaint.fia.gov.pk.
Is money sent to Pakistan taxed?
What the rules say
money sent home through a bank or licensed transfer company is tax-free for the recipient — up to ₨5 million a tax year with no need to explain the source (Section 111(4))
Keep your paperwork
On a large transfer the UK firm must run a source-of-funds check — that is a compliance step, not a tax. Keep evidence of where the money came from (a sale statement, pension or investment paperwork, or bank statements) and a big transfer moves through far more smoothly.
When is the best time to send money to Pakistan?
For a one-off transfer the rate on the day is what counts — and it moves constantly. The aim is less about guessing the perfect moment and more about removing risk on payments you already know are coming. As a guide, once the money is sent seconds to minutes once it reaches Pakistan — Raast, the State Bank's instant rail, credits a bank account in around 20 seconds at any hour, and IBFT into a wallet is similarly quick.
Demand follows the Islamic calendar, which shifts about eleven days earlier each year. It climbs through Ramadan, peaks just before Eid al-Fitr, and surges again before Eid al-Adha, when families need cash for new clothes and the sacrificial animal.
Providers know those windows and quietly widen their margin into them, so line up a big send a week or two early rather than in the Eid-week rush.
The rupee is a managed float the State Bank steers closely, and when a gap opens between the official rate and the parallel ('open') market it can feed into the rate you are offered.
Lock the rate for a known date. If a payment is weeks away, many specialists let you fix today's rate now (a forward contract), so a sudden market move can't blow a hole in your budget before the money is due.
Set a target with a rate alert. For flexible transfers, you can set the rate you want and be notified (or trade automatically) when the market reaches it — useful when you have time on your side and no fixed deadline.
The costliest mistakes when sending to Pakistan
A handful of avoidable slips account for most of the money people lose. Each is easy to sidestep once you know to look.
Defaulting to your bank without comparing. The bank's rate mark-up usually costs far more than any fee, and it is easy to miss because it is built into the rate rather than shown separately.
Judging by the fee, not the amount delivered. A "no fee" offer can still be the worst deal if the rate is poor. Always compare on what actually arrives.
Mistyping the account number (IBAN). If the account details are wrong the transfer can bounce back after a delay, or reach the wrong account. Always check them against details your recipient sent in writing.
Trusting bank details that arrived by email. Payment-diversion fraud is a real risk — always confirm the receiving account by phone on a trusted number first.
Using an unregulated or cold-calling firm. Check the company on the FCA Register before you move any money, and never act on an out-of-the-blue offer.
Choosing informal hawala or hundi to save a little. An off-the-books agent offering a rate that looks too good has no protection, no paper trail and breaks the tax-free banking-channel rule. If the money goes missing there is no one to chase. A licensed bank, exchange company or app is traceable and refundable, and because the receiving side is often free under the PRI, the regulated route is usually cheaper on the rupees that actually arrive anyway.
Mistyping the PK IBAN or confusing a wallet with a bank. Pakistan's IBAN is 24 characters starting 'PK', and one wrong digit can fail the transfer or send money to the wrong account, so copy every character exactly. Separately, decide up front whether you are paying a bank account (by IBAN) or a mobile wallet such as JazzCash, Easypaisa or SadaPay, because they need different details. Sending a wallet to a bank field, or the reverse, is a common cause of delays.
How do most people send money to Pakistan?
For most people sending money home, the simplest and cheapest route is a specialist money-transfer app or company paying straight into the recipient's bank account (IBAN). Judge every provider by the amount that actually arrives — and confirm the receiving details before you send.
Receiving is usually free under the Pakistan Remittance Initiative, so judge providers on the rupees that actually land, send ahead of Ramadan and Eid, and stick to a licensed channel rather than informal hawala.
Frequently asked questions about sending money to Pakistan
There is no euro exchange-control limit on personal transfers from Spain.
Each provider sets its own per-transfer limit, and identity checks kick in at €1,000 or more, with proof of the source of funds sometimes needed for larger amounts; Spanish institutions also report transactions of €10,000 or more under anti-money-laundering rules.
On the Pakistani side there is no limit on inbound family remittances received through official banking channels, which the State Bank of Pakistan actively encourages.
No. Spain does not tax the act of sending money abroad as a gift or family support; Spanish gift tax (Impuesto sobre Sucesiones y Donaciones) is levied on the recipient, so a gift to family in Pakistan generally falls outside Spanish tax.
On the Pakistani side, genuine family remittances received through normal banking channels are generally exempt from income tax, and remittances up to PKR 5 million per tax year are shielded from questions about their source under Section 111(4) of the Income Tax Ordinance, 2001. This is general information, not tax advice.
Remittances received through official channels are tax-exempt, but Pakistan's Federal Board of Revenue (FBR) requires foreign remittances to be declared on tax returns.
The recipient's bank issues a Proceeds Realization Certificate (PRC) confirming the funds arrived legally from abroad — the key document for verification.
A 10% tax introduced in 2023 applies only to unexplained or undocumented remittances that do not come through formal financial channels, so sending through a regulated provider into a bank account keeps the money clean.
Often within minutes. Mobile-wallet transfers (JazzCash, Easypaisa) and cash pickups can be nearly instantaneous, and many bank deposits are same-day or near-instant; the State Bank of Pakistan even mandates compensation for delays in crediting beneficiaries.
Old-style SWIFT bank wires are slower — typically one to several working days, and intermediary banks may deduct fees along the way. The slower part is usually the one-off identity check on the Spanish side before your first transfer leaves.
Yes. Unlike India, Pakistan uses IBANs and has done since 2012.
Your recipient's IBAN is a 24-character number beginning "PK" that contains their bank code and account number. Give that (plus, for the international leg, the bank's SWIFT/BIC) and the transfer can be delivered straight to their account.
Almost always a specialist money-transfer company rather than your bank. Compare providers by the amount that actually arrives in rupees — counting both the exchange rate and any fee — rather than by "no fee" claims.
Because Pakistan reimburses banks for qualifying home remittances, the receiving side is often free, so the sending-side exchange rate is where most of the cost hides. See the live comparison above.
No. A foreign remittance received through a bank or licensed transfer company is tax-free for the recipient, and amounts up to ₨5 million in a tax year need no explanation of source under Section 111(4) of the Income Tax Ordinance.
Above ₨5 million you may simply be asked to show it came from abroad. This is general information, not tax advice.
A Roshan Digital Account (RDA) is a remote account for overseas Pakistanis that can be opened in about 48 hours and used to invest in Naya Pakistan Certificates.
You only need one if YOU are the overseas Pakistani investing or saving — an RDA can only be funded from the account holder's own overseas money. To send money to a relative, you don't need an RDA; the money goes to their ordinary account by IBAN.
Once the money reaches Pakistan it lands almost instantly — Raast, the State Bank's instant payment rail launched in 2021, credits a bank account in around 20 seconds at any hour, and a wallet top-up by inter-bank funds transfer (IBFT) is similarly quick.
The part that takes longer is normally the compliance checks on the sending side before the money leaves.
Often yes. As well as a bank account, many providers can pay into a mobile wallet such as JazzCash, Easypaisa or SadaPay, and cash pickup is available too.
A bank account or wallet is usually the cheapest and fastest option; cash pickup is the fallback where that isn't possible.
Pakistan's "free-send" scheme means the State Bank reimburses banks for a qualifying home remittance (broadly $200 or more), so the recipient often pays no fee. The cost then sits almost entirely in the exchange rate the sender is given.
A bank typically keeps 2–4% inside that rate, so always compare on the rupee amount actually delivered, not on the headline fee.
There is no UK legal cap on personal transfers. Each provider sets its own limit — Wise allows £1m+ once you are fully verified, while others range from about £10,000 to £50,000 per transfer.
Pakistan puts no limit on personal home remittances received through the banking channel; the ₨5 million figure people see is a recipient tax-reporting threshold under Section 111(4), not a cap on what you can send.
No. Sending money abroad from the UK is not a reportable tax event, and there is no UK gift tax. If the money is income you have already paid tax on, or a personal gift, there is nothing to declare.
For large transfers it is worth keeping a note of where the money came from, in case your own UK bank asks.
The transfer will usually fail or be delayed rather than vanish. Pakistan's IBAN is 24 characters beginning "PK", and most providers can recall a misdirected payment, though it can take two to five working days to come back.
Always check every character with your recipient before you submit — and confirm whether you are paying a bank account or a mobile wallet such as JazzCash or Easypaisa, because they need different details.
Our sources & how we keep this current
Last updated: June 2026. The live rates above refresh automatically, and we review the rest of this guide every month — updating it whenever the rules on payments, tax or regulation change.