Blog ACE Money Transfer May 20, 2025 1 Comments

ACE vs Traditional Banks: Best Money Transfer for Pakistani Expats?

In established and developing nations, migration has always played a significant role in creating new opportunities and opening up new vistas in various sectors. Through remittances, Pakistani migrant laborers have been vital to the country’s economy as they send money to Pakistan through ACE Money Transfer.

According to estimates, 3.5 percent of the world’s population lives abroad, and about 63.5 percent do so for employment reasons. With 224 million people, Pakistan has the sixth most significant population globally and is South Asia’s top labor exporter. The remittance received in Pakistan increased by 6.4% in 2020 compared to 2019, which is a positive development.

Pakistani migrants across the region have been predominantly employed. The historical trend of Pakistani intending migrants is towards Gulf Countries. Banking access is available through both traditional and mobile channels in different ways. Knowing you have many sensible options to consider while determining what is best for you is comforting.

Traditional Banking

Traditional banks usually relate to the actual location of your neighbourhood branch of a bank. To access bank products, you would visit a nearby bank branch. You’ll have to go to a neighbourhood branch close to your home and either make an appointment or stand in line for a bank teller to perform your banking.

If you have a bank account with the bank or one of its partners, you usually won’t have to pay a transaction fee when using an ATM. Traditional banks offer online services. Many Pakistani expats use traditional banking to send money online, as they also provide these services.

Clients of conventional banks have the chance to speak with bank staff members directly. But there are some disadvantages of traditional banking that make digital banking better than it.

Flaws of Traditional Banking

Some major cons of traditional banking are given below:

Transaction Fees

One of traditional banking’s most significant downsides is the escalating transaction costs. Every transaction will cost you. High account fees, card fees, transaction expenses, borrowing prices, and various charges negatively impact today’s customers.

Limited Accessibility

Conventional banks have set hours during which they are available to address consumers’ concerns. If questions arise after these hours, the consumer must wait until the following day to get them answered, whether urgent or not.

Regulatory Minimum Balances

Traditional banks require a minimum deposit to start or maintain an account. In certain banks, larger sums must always be retained in the accounts to keep their functionality.

Unsecure Methods

Technology development has exposed banks’ legacy IT systems to constant cyberattacks that could cost them sensitive client data and jeopardise their ability to compete. Digital cybersecurity frameworks can prevent this.

Varying Customer Service

The human element is a critical component of traditional banks. Service levels between branches may vary depending on your needs. Certain branches might provide more bilingual agents or financial counsellors than others.

Mobile Banking

Mobile applications on a smartphone or tablet device are how mobile banks operate. If you can use mobile banking, you don’t have to worry about bank hours or long wait times. Simply sign in to mobile banking and transfer money. You can access your bank account anywhere. You can see your account balance, conduct transactions, set up a bill payment, manage debit or credit cards, and deposit checks using most banking apps.

ACE Money Transfer

ACE Money Transfer has been assisting people with international money transfers since 2002. The firm offers money transfer services in 106 nations. No matter where your family or friends are located, their online money transfer provides a one-stop solution for sending money to them. Pakistani expats can use this service to make a secure and economical money transfer to Pakistan whenever they need to transfer funds back home from abroad. Sending money to your loved ones has become more accessible and straightforward than ever, especially now that you can access ACE’s online money transfer service.

The Procedure for Transferring the Money

You must first log into your account and take the following actions before doing online transfers:

Decide on a destination country
Choose the bank or cash payout option from the payout calculator
Choose a payout partner
Enter the amount you want to transfer
Enter the receiver’s information
Choose a payment method (online bank transfer, debit card, or credit card)
Verify the information and include the payment sending reason
Choose “Pay Now.”
You can now transfer money easily using an online account
You can log in using your Facebook, Twitter, or Google account if you don’t have an online account.
Your address, email, and phone number will also be requested for security reasons.

ACE Money Transfer comprehends the importance of transactions involving a bank deposit or a cash transfer. Enter the transaction code to view the transaction in the “My Transaction” section and monitor the progress of your payment.

How is ACE Money Transfer Better Than Traditional Banking?

The firm prioritises its clients’ demands and ensures they receive the greatest service. ACE is highly known for providing secure international transactions in the remittance-sending industry. It has strict policies regarding fraud and money laundering, making your payments protected.

Needs of the Clients

The firm handles its customers with care and respect because it is a professional in the money transfer sector. It respects people’s diversity and viewpoints, which motivates its development. ACE Money Transfer exerts influence over its areas of strength and develops tactics for regions that need improvement.

The service is best known for consistently using the most cutting-edge, efficient, and secure techniques to help you professionally. The appropriate financial options are available to a wide range of people globally through ACE Money Transfer. Doing an online money transfer to Pakistan is comfortable with ACE Money Transfer, as you can send or receive money quickly and securely.

Personal Information

Your personal information is entirely safe with ACE Money transfer. They will only utilise your data if it is permitted by law. To process your transactions, we must gather your personal information. The firm needs the full name and address of the recipient as well as your bank account information.

The only use of any personal information received is to stop the financing of terrorism or money laundering. This aids in maintaining the security and safety of our service. They may process your personal information to send you specific marketing communications that the firm thinks may be pertinent and interesting to you. You can always choose to refrain from receiving marketing communications.

Including Third Party in Your Personal Information

According to ACE Money Transfer’s policy, any third party with access to information is obligated to protect it; otherwise, strict actions will be taken against them. The firm will inform the third parties of the obligations and enter into agreements. Your information will only be given to their subcontractor who will deliver your services. ACE Money Transfer may work with its subsidiaries, associates, or partners to provide our services to you.

They might also disclose your personal information if required by law, as when it comes to security, taxation, or criminal investigations. However, they will request your permission for other reasons that will be clarified to you in advance.

Marketing Campaigns

ACE Money Transfer offers its customers some of the best campaigns. These campaigns offer various advantages. While some may offer rewards, others might provide fee-free international money transfers to a particular nation. Keep an eye out for these initiatives.

As a welcome gift, ACE Money Transfer gives customers a fee-free money transfer when they initially sign up. Hence, no fees are associated with using ACE’s remittance solutions to send money for the first time. Also, you can learn more about the companies’ “Invite Friends Offer” and how you can win incredible incentives by referring friends to utilise ACE’s services.

Bottom Line

Pakistani expats worldwide have many ways to send money to Pakistan for the betterment of their families. Both conventional and digital banking can be used in this regard. However, digital banking is the best way to make online transfers. With ACE Money Transfer, you can make secure transactions and enjoy their services without a care.