Lucky Draw Campaign-Mall Road Branch Lahore
Western Union
Money Gram
Ria

FAQs

Currency Exchange 

Q: What is Currency Exchange?
The exchange of one currency into the other at prevailing rate through authorized dealers/exchange companies is called currency exchange.

Q: Why I cannot find the same rate of any currency throughout the day?
The exchange rate between currencies through out the world is volatile in nature and depends upon the market forces of demand and supply. These are the basic forces which determine the exchange rates of the currencies. Besides, exchange rates are also affected by various other factors such as political and economic stability. Hence, the exchange rates keep changing throughout the day.

Home Remittance

Q: What is Home Remittance? 
When an expatriate sends money to its home country, it is called home remittance.

Q: How long does it take a payment to reach to the beneficiary? 
Depending upon the arrangements with various international correspondents, beneficiaries can usually receive payments in home remittance within 24 working hours. No delay is made on behalf of DOLLAR EAST and remittance upon arrival is immediately available for collection.

Q: What is the overall procedure of home remittance service? 
Customer >> Foreign Correspondent >> Dollar East >> Beneficiary

Q: Does DOLLAR EAST have international correspondents to execute home remittances? 
Yes, DOLLAR EAST has a network of international correspondents to execute home remittances.

Q: Does the beneficiary receive full payment or some deduction is made? 
The beneficiary receives full payment and no deduction is made by Dollar East.

Q: Does DOLLAR EAST offers Western Union, MoneyGram or RIA Services? 
Yes, DOLLAR EAST offers Western Union, MoneyGram or RIA Services.

Q: How to collect Western Union, MoneyGram, and RIA Payments?

  • To Receive Western Union, MoneyGram or RIA Payment, a receiver should have:
  • Detail of Payment
  • Valid original CNIC, along with its Photocopy
  • Reference number or Payment Code provided by Sender

Outward Remittance

Q: What is outward remittance?
Outward remittance refers to a process of sending money to a foreign country from your home country.

Q: What are the modes of doing an outward remittance?
There are four common modes for the outward remittance.

  • Western Union
  • Money Gram
  • Telegraphic Transfer (TT)
  • Demand Draft (DD)

Q: What is the procedure of Telegraphic Transfer?
Customer >> DOLLAR EAST >> Bank (Pak) >> Intermediary Bank (abroad) >> Beneficiaries Bank Account.

Q: What is the procedure of Demand Draft?
Customer >> DOLLAR EAST >> Bank (Pak) >> Handover to Customer (Demand Draft)

Q: What is the procedure of MoneyGram?
Sender >> DOLLAR EAST >> MoneyGram agent Abroad >> Receiver

Q: What are the requirements for outward remittance?
Following information and documentation is required:

  • Full Name
  • Nationality Full physical and postal address, telephone & fax numbers and email address) Copy of National Identity Card or passport
  • Occupation/Business
  • Purpose of remittance
  • Beside this, the remitter also needs to provide the following information about the beneficiary:
  • Name of the beneficiary
  • Account number
  • Name of the bank
  • Full address
  • Route number / Swift code/Transit number

Telegraphic Transfer

Q: What is Telegraphic Transfer?
Telegraphic Transfer service is the fastest mean for transfering money from one country to another. With the help of this service a customer can transfer money to the bank account of a beneficiary in most foreign countries of the world.

Q: How fast is the procedure of Telegraphic Transfer?
It will credit to the beneficiary within 24 to 72 working hours.

Q: What are the charges of Telegraphic Transfer service?
Visit our nearest branch or call us at 111-900-200/03-111-222-156.

Demand Draft

Q: What is a Demand Draft?
It is an instrument of money transfer through which banks and exchange companies ensure to pay on demand a certain amount to the beneficiary's bank on deposit of the same.

Q: What is the requirement for making a Demand Draft?

  • Copy of sender's ID Card
  • Beneficiary's title of Account
  • University/College offer or acceptance letter (In case of Students submitting fees)

Q: What are the charges of Dollar East DD service?
Visit our nearest branch or call us at 111-900-200/03-111-222-156.

Q: In which currencies can you obtain a demand draft from Dollar East?
We issue draft in the following currencies:

  • US Dollar
  • Pound
  • Euro
  • Canadian Dollar
  • Australian Dollar

Branch Network

Q: In how many cities of Pakistan can a beneficiary receive payments through DOLLAR EAST?
Dollar East has a network of 49 branches which are strategically located across Pakistan. For more details please visit http://www.dollareast.com/dollareast_new/branch-network