Sending business payments from the US to Pakistan
A US company pays a Pakistani supplier by SWIFT wire in US dollars to the 24-character IBAN of the account the supplier declared for the shipment, quoting the invoice and Form E (EFE) numbers. State Bank of Pakistan rules require export proceeds to arrive through an authorized dealer bank by a deadline, so the account and the reference matter as much as the amount. This guide covers the details to collect, the rules, rails, documents and fees.
- A Pakistani IBAN has 24 characters: PK, two check digits, a four-character bank code and a 16-digit account number, as Citibank Pakistan's published example PK36CITI1000001004331059 shows.
- Chapter 12 of the SBP Foreign Exchange Manual requires export proceeds to be received through an authorized dealer bank within 120 days of shipment, or 45 days on sight, DP and CAD terms.
- Chapter 6 of the Manual does not allow payments for goods exported from Pakistan to be credited to an ordinary foreign currency account.
- Wise states that it can send PKR only to personal accounts in Pakistan and cannot currently send business payments in PKR.
- Bank AL Habib's July to December 2026 schedule lists no charge for inward foreign remittances, but intermediary banks can deduct fees unless the wire is sent with OUR charges.
Details to collect from your recipient in Pakistan
Get the payment details in writing once, from the supplier's letterhead or commercial invoice. The key number is the IBAN, the International Bank Account Number, which Pakistani banks have used for payments since 30 June 2013. Check that the four-letter bank code inside the IBAN matches the bank the supplier named.
| Detail | What to ask for | Why it matters |
|---|---|---|
| Beneficiary name | The supplier's registered name, exactly as on its bank account | A mismatch causes queries at the correspondent and the Pakistani bank |
| IBAN | 24 characters starting PK, written without spaces | Banks may hold a payment to an account that is not in IBAN format |
| Bank name, branch and SWIFT code | 8 or 11 characters | Routes the wire to the right bank |
| Intermediary bank | The US bank the supplier's bank uses for dollars, with its SWIFT code | Leaving it out can slow routing |
| Invoice and EFE numbers | As issued for the shipment | Lets the supplier's bank match your payment to the export |
| National Tax Number (NTN) | From the supplier's invoice | Lets you match the bank details to the invoicing company |
Sources: Citibank Pakistan, IBAN FAQs; SBP Foreign Exchange Manual, Chapter 12. As published on 29 October 2026.
USD or rupees: what the State Bank of Pakistan requires
Chapter 12 of the State Bank of Pakistan (SBP) Foreign Exchange Manual governs exports. Proceeds must be received through an authorized dealer, a bank licensed by the SBP to deal in foreign exchange, in a convertible currency in which that bank holds accounts. The supplier names that bank when it files its export declaration on Pakistan Single Window, and the bank issues the electronic Form E (EFE) for the shipment. A dollar wire to that account is the route the rules are built around. The US dollar to rupee page covers the currency.
| Rule | What it says | What it means for your payment |
|---|---|---|
| Standard terms | 120 days from shipment, or the due date if earlier | Pay well before the deadline |
| Sight, DP or CAD terms | 45 days from shipment | Documents against payment or cash against documents shorten the window |
| Advance payment | Shipment within one year; the bank needs the contract, purchase order or proforma invoice | Tie advances to a signed document |
| Bill amount | Must not be less than the value declared on the export form (para 20) | Agree discounts in writing so the supplier can tell its bank |
| Which account | Payments for goods exported from Pakistan may not be credited to an ordinary foreign currency account (Chapter 6) | Pay the account named for the shipment |
| Retention | Proceeds may sit 3 working days in a Special Exporters' Account; services exporters may keep 35% in foreign currency | Most of your dollars are converted to rupees |
Sources: SBP Foreign Exchange Manual, Chapter 12 (paras 6, 20 and 27) and Chapter 6. As published on 29 October 2026.
Paying in rupees from abroad is limited for businesses: Wise states that it can send PKR only to personal accounts in Pakistan. For the supplier's full side of the corridor, see how to pay suppliers in Pakistan and how Pakistani exporters receive USD.
Rails and arrival times to Pakistan
A payment from a US account reaches a Pakistani bank as an international wire over SWIFT, and the dollars settle in the United States on Fedwire through the Pakistani bank's US correspondent. Fedwire runs from 9:00 p.m. ET on the previous day to 7:00 p.m. ET on weekdays, with a 6:45 p.m. ET deadline for customer transfers. Pakistan is 9 hours ahead of New York in the US summer and 10 hours ahead in the US winter, so a wire sent during the US working day is credited on the next Pakistani business day at the earliest.
| Route | What the recipient receives | Timing, as published | Notes |
|---|---|---|---|
| SWIFT wire in USD to the declared IBAN | US dollars, matched to the EFE and then largely converted | Next Pakistani business day at the earliest | The standard route; quote the invoice and EFE numbers |
| Letter of credit or documentary collection | US dollars against documents | 45 day deadline on sight, DP and CAD terms | Suits first or larger orders |
| PKR local payout | Rupees | Not available for business payments through Wise | Personal payments only at Wise |
Sources: SBP Foreign Exchange Manual, Chapter 12; Wise, currencies you can send to; Federal Reserve Financial Services, Fedwire operating hours. As published on 29 October 2026.
Pakistani banks also close on bank holidays that are not public holidays. The Cabinet Division's 2026 list includes Allama Iqbal Day on Monday 9 November and Quaid-e-Azam Day on Friday 25 December, and 1 January is a bank holiday.
Documents, screening and why payments to Pakistan are held
The supplier files the export declaration, its bank issues the EFE, and the shipping documents reach the bank within 14 days of shipment. Your payment closes that file when it reaches the right bank with the right reference. Helm does not currently provide USD account details to companies based in Pakistan; this page covers paying a Pakistani supplier from abroad.
One more check sits on your side: OFAC states that all US persons, including US-incorporated companies and their foreign branches, must comply with its sanctions, so screen the recipient, its owners and its bank against OFAC's lists before the first payment (OFAC FAQ 11).
| Problem | What happens | How to prevent it |
|---|---|---|
| Paid to a different bank from the one on the EFE | The supplier may need to transfer the proceeds, at a charge | Pay only the account named for the shipment |
| Old account number instead of the IBAN | Held or rejected | Use the 24-character IBAN starting PK |
| No invoice or EFE reference | The bank cannot close the export file | Quote both in the payment details |
| Wire sent as SHA | Supplier receives less than the declared value | Use OUR charges |
| Paid close to the deadline before a holiday | Credited after the realization period | Pay several business days early |
Sources: SBP Foreign Exchange Manual, Chapter 12; Bank AL Habib schedule of charges; Cabinet Division 2026 holidays as reported by Daily Pakistan. As published on 29 October 2026.
Costs: SHA, OUR and Helm's fees for payments to Pakistan
Bank AL Habib's schedule for July to December 2026 lists no charge for an inward foreign remittance, Rs. 1,400 to generate the financial instrument on an open account export, and Rs. 1,650 plus SWIFT charges to transfer export proceeds to another bank. A nil inward charge does not mean the full amount arrives: on SHA terms, correspondents can deduct fees on the way and leave the bill below the declared export value. Send with OUR unless the contract says otherwise.
Helm, a financial technology company and not a bank, sends payments to suppliers abroad from your company's account by SWIFT and by local rails in the recipient's currency where available, confirmed by your account manager. The rate, fee and expected arrival are shown before you confirm. Helm's US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with funds held at Lead Bank.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
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How do I send a business payment from the US to Pakistan?
Send US dollars by SWIFT wire to the IBAN of the account the supplier declared for the shipment, quoting the invoice and Form E (EFE) numbers, with OUR charges so the full declared value arrives.
What is a Pakistani IBAN?
A Pakistani IBAN has 24 characters: PK, two check digits, a four-character bank code and a 16-digit account number. Citibank Pakistan's published example is PK36CITI1000001004331059.
What is Form E or EFE?
Form E links an export shipment to the bank that must receive its proceeds. It is now issued electronically as the EFE by the supplier's authorized dealer bank after the export declaration is filed on Pakistan Single Window.
How long does a Pakistani supplier have to receive payment?
Under Chapter 12 of the SBP Foreign Exchange Manual, export proceeds must arrive within 120 days of shipment on standard terms, or 45 days on sight, DP and CAD terms.
Can I pay a Pakistani supplier in rupees?
Business payments in rupees from abroad are limited. Wise states that it can send PKR only to personal accounts in Pakistan, and SBP rules expect export proceeds in a convertible currency through an authorized dealer bank.
What does Helm charge to send money to Pakistan?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. Helm does not provide USD account details to companies based in Pakistan.
References
- State Bank of Pakistan: Foreign Exchange Manual, Chapter 12 (Exports)
- State Bank of Pakistan: Foreign Exchange Manual, Chapter 6 (Foreign currency accounts)
- Citibank Pakistan: IBAN frequently asked questions
- Bank AL Habib: Schedule of Charges, July to December 2026
- Daily Pakistan: Public holidays in Pakistan 2026, Cabinet Division notification
- Wise: What currencies can I send to and from?
- Federal Reserve Financial Services: Fedwire Funds Service operating hours
- Office of Foreign Assets Control: FAQ 11, Who must comply with OFAC sanctions?
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.