Our Services

Currency Exchange

We deal in all type of foreign currency in our outlets across Pakistan. We provide best and competitive rates to our respective customers. Our exchange rates are updated on real time basis in live in the market movement. The company makes the process of currency exchange simple and hassle free.

Requirements:
  • CNIC alongwith copy Will be required for transaction equal to or more than USD$ 500.
  • Selling Transactions Equivalent to or above USD 35,000/- will be made through cross cheque/payorder of customers personal bank account.
  • SBP Approval Will be required for Sale transaction equal to or more than USD$ 50,000.
  • Note: Expired CNIC Will not be accepted. Further, According to SBP, all necessary KYC Procedures will be followed before conducting any transaction.

Telegraphic Transfer

Telegraphic Transfer Often Abbreviated as “TT”. RIEC Offers Telegraphic Transfer services to its reputable customers. TT is an outward electronic transfer of money sent by SWIFT/Telex to an overseas party (recipient)’s bank account remitted by RIEC through its designated bankers on behalf of its customers. According to SBP, Telegraphic Transfer can be remitted for non-commercial purposes only i.e., Personal Use, Family Maintenance, Medical, Immegration and Student & Trainees.

Requirements:
  • Customer needs to fill the RIEC TT Application Form by personally coming to its outlet which requires complete information of Sender, Beneficiary and Purpose, CNIC Copy of Sender and other necessary supporting documents, if required.
  • SBP Approval Will be required for transaction equal to or more than USD$ 50,000.
  • Note: Expired CNIC Will not be accepted. Further, According to SBP, all necessary KYC Procedures will be followed before conducting any transaction.

Demand Draft

Demand Draft Often Abbreviated as “DD”. RIEC Offers Demand Draft services to its reputable customers. A draft can be likened to a cheque and is a negotiable instrument issued by RIEC through its designated bankers on behalf of its customers. According to SBP, Demand Draft can be issued for non-commercial purposes only i.e., Personal Use, Immegration and Student & Trainees etc…

Requirements:
  • Customer needs to fill the RIEC DD Application Form by personally coming to its outlet which requires complete information of Sender, Beneficiary and Purpose, CNIC Copy of Sender and other necessary supporting documents, if required
  • SBP Approval Will be required for transaction equal to or more than USD$ 50,000.

Home Remittance

Remittances are transfers of money by foreign workers to their home countries. Every year thousands of Pakistani expatriates open the door for foreign currency inflow to our country. These Home Remittances have now evolved as a key factor in supporting in our country’s economy.

RIEC Home Remittance Division is facilitating overseas Pakistanis around the globe and their loved ones in Pakistan by providing value added services to remitters and beneficiaries under the special Home Remittance arrangements. We have agency arrangements with MoneyGram, RIA Money Transfer and Sigue (Formerly Coinstar) and handle their remittance business across the Pakistan.

Receive Money

RIEC is the most reliable business partner and business agent of MoneyGram a company with over 300,000/- locations across 197 countries and RIA Money Transfer. People around the globe can transfer their money in real time to Pakistan via MoneyGram Payments System, RIA Money Transfer and Sigue Global Services available at all our locations without any charges to the recipient.

Send Money

People from all over Pakistan can transfer money to their relatives around the world through our branches via MoneyGram payment System. Money can be transferred in seconds to more than 200 countries worldwide with reasonable charges.

Branchless Banking

Offer Branchless Banking services through Jazz Cash under the agreement of Mobilink Microfinance Bank at our all branches