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Home -> FAQ's

FAQ'S

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.

Outward Remittance

Q: What is outward remittance?
When a person remits money from one country to another country, in the country of origin it is called outward remittance.

Q: What are the modes of doing an outward remittance?
There are three common modes for the outward remittance.
    Demand Draft (DD)
    Telegraphic Transfer (TT)
    MoneyGram

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 in 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 transferring 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.


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.

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


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: What special services are being offered by DOLLAR EAST for the convenience of beneficiaries?
The beneficiaries can receive their payments in the form of cash or cheque.

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 MoneyGram or Sigue Services?
Yes, DOLLAR EAST offers MoneyGram and Sigue Services.

Q: How to collect MoneyGram and Sigue Payments?
To Receive MoneyGram or Sigue Payment, a receiver should have:
    Detail of Payment
    Valid original CNIC, along with its Photocopy
    Reference number or Payment Code provided by Sender


Branch Network

Q: In how many cities of Pakistan can a beneficiary receive payments through DOLLAR EAST?
Dollar East has a network of 38 branches which are strategically located across Pakistan. The names of cities with the number of branches are given below:

City Branch(es)
Karachi 2
Lahore 7
Gujranwala 1
Faisalabad 2
Multan 1
Islamabad 1
Peshawar 2
Jhelum 1
Mirpur-AK 1
Kharian 1
Gujrat 1
Sialkot 1
Sahiwal 1
Mandi Bahauddin 1
Rawalpindi 2
Dina 1
Gujar Khan 1
Swat 1
Daska 1
Phalia 1
Abbottabad 1
Muzaffarabad 1
Haripur 1
Mansehra 1
Dinga 1
Hazro 1
Mardan 1
Battagram 1

 

 

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