Do Custom Duty Charges apply on money ?

[R1CK]

I know the question sounds a bit stupid, but Somebody o' mine is gonna send me some amount of money via Western Union and I was a bit confused on that. I mean there's Custom Duty charges on items and stuff. I was to get a Mac Pro but I couldn't due to the Custom Charges so I'm getting this money instead. So, what I wanted to ask is, say I get a large amount of money, would some of it be deducted because of some Custom Duty Charges or any other shit like that ?


:bounce

 

[Jshak]

How is the value ?

Western Union already cuts the custom up ahead. You will get the amount which is sent from there. They take up ahead charges for the amount being sent.....

 

[R1CK]

It's 8 lakh. So how much would be deducted ?

 

[vyrus]

^ OMG 8 Lakhs !! Dude why dont u use the bank instead ?

 

[alikhan]

Banks shall make stupid deductions. They shall try to rip off you as much as possible. Besides that, they give you ridiculous exchange rate. For example, USD is 81.2 rupees but they wont give you more than 78.00 rupees per 1 USD. So, make your calculations to know that banks are hungry looters.

 

[vyrus]

I clrealy remember my dads reciepts, something like Swift code and all, and they were wayyy more than what this guy is asking ... they were dollar payments aswell and thru MCB bank account, recieved money in US $ from abroad .... there must be more to it ...

 

[Bad Mofo]

i think western union charges something like 5% on all transactions, which is a fuck-load on around $10000.

bank transfers are way better. i don't know where you guys are getting the rs. 3 difference between the bank and market dollar rates.

sure, they won't give you as much as the open market, but usually, it's only 10-30 paisas lesser than the market.

plus, once you get the payment, you rightfully have three days before the money is actually changed from dollars to rupees. so, you can ask around other banks, and if some other bank offers you a little more, you have the right to move your money there and get it changed there.

 

[alikhan]

^ I have about 9 transactions from a renowned bank in New York since last year. First off, Pak banks deduct $15.00 straight away. Then, there are some minor miscellaneous deductions. Later, they pay you on basis of the rate they had decided for a duration of 30 days. That rate is always lower than market rates by 2.5 - 3 rupees . This is my experience with PACRA rated AA and better banks. More details can be found in schedule of charges posted by each bank provided that they are up to date.
Well, its the first time that i heard that inward remittance provides 3 days to the destination account before it is automatically converted to pak rupees. I really dont doubt on your statement. I need some details on that matter. Is that true for all banks? I have confirmed from my banks (those i tried) and they told me that if destination account is not foreign currency account, the inward remittance is deposited as pk rupees no matter what.

 

[talalthegreat]

Just for my knowledge: WHATS A TRANSACTION?

 

[alikhan]

transaction in current scenario = deposit or withdrawal

 

[talalthegreat]

Ok thanx got it

 

[devilhimselff]

R1CK dude, open an account in Pakistan in same currency that is to be sent to you. Dollar/Pound/Euro.
Ask for The Transfer in Original currency to your Bank account, withdraw and get changed to your liking. You will just pay the Transfer fee from destination, and some IF the Bank redirects. Ask the sender to check which bank is attached in Pak to his.
Just wait a few weeks, the way the dollar is moving it will be soon around 85Rs, though , just a suggestion.

 

[aameeshah]

Westren Union has max limit of 3000 or 5000 USD (I think). Your best option would be to receive Bank Wire Transfer using your BANK SWIFT CODE and your Account Info. I have received 70,80k Rupees via WU and There was no Cut. But WU and Bank have much lower Currency Exchange Rates then Open Market.

 

[alikhan]

^^I dont think USD shall cross even 81.00
SBP has put a ceiling on dollar price. Otherwise, USD would have crossed 85.00 long ago. Its actual value is projected to be 90.00+ but govt. checks have kept it hovering around 80.00

 

[manigamer]

well as much as i know is that they dont deduct nothing.. i have transferred money well over 1lakh and all they ask for is their transfering fee.. which they take from the sender only.... so i think u would be good inshallah

 

[mystirfan]

Western Union only takes their service charges for the transfer of money (And theres no Custom Duty on Currency only Tax deduction) and its not recommended for higher value transfers,, u can either use a bank account (Foreign Currency Account) or TT both of these methods are the cheapest .......

 

[R1CK]

Okay, first off. Can't open an account. Because of two reasons. First, I'm only fifteen. Wait... Hay! It's 1:10! That means I'm sixteen! Yey!!!
Well anyway, I'm only sixteen so I can't open one. And the second reason is that I'm just gonna blow that money off by getting two kickass PC's and some other shit when I feel like blowing off some more shit =P So no point of opening a bank account. The Sender resides in England so it's gonna be Pound Sterling.

 

[alikhan]

Consult banking schedule of charges. Apply that on amount of your inward remittance.

 

[Jshak]

Well mate, One answer.

Who is sending 8 lakh rupees.

The guy is 16 and you all are answering him as he owns the cash.....

Who is this money for between ?

 

[mos2k]

^ i second Jshak