Many newcomers ask me this question all the time “how to make money by converting currencies” and today I thought to write an article on it. Online currency exchange is an easy way to earn money in pakistan specially if you don’t know too much about computers like programing, designing, websites etc. As the time progresses more and more people are involved in online jobs due to inflation and unemployment. So if you visit the Alexa website you will see that more than 50% sites of the top 500 sites in pakistan are earning money sites. Which means that people are generating lots of income stream online and they withdraw money too. This is a very good news specially for people who are money ex-changers because people convert their dollars in rupees with the help of these people.
Money Exchange Rate in Pakistan
First of all you need to keep an eye on money exchange rate in pakistan on daily basis because our country is very destabilize when it comes to economy. Many of you might visited the pakistan currency exchange office in your city in order to exchange some foreign currency. You need to do the same work online but the good news is that you don’t have to physically handle the money. All you have to do is to capture the dollars from your client first and than send them local currency. This is very safe business and requires very less investment. Also for this business you don’t need to purchase money exchange license.
Open Local Bank Accounts
First thing you will need is local bank account. Now you can open various bank accounts like Standard Chartered, MCB, Allied, HBL, Askari Bank etc. You need to open multiple accounts so that you can transfer money online from one account to another with transaction fees. Otherwise you can open just one account initially and start your work.
Open Foreign Bank Accounts for Free
Second thing you will need foreign bank accounts like Paypal, Payza, Skrill, Payoneer so that you can receive money from your clients. Don’t worry you can open these accounts for Free but you have to provide some documents like your National ID card and address proof etc. Verifying these accounts are also very easy and you can find some of the procedures in my website.
Create Facebook Page
Now you need to establish a Facebook page where you can interact with your customers. Also everyone now a days uses social media so this way they can also easily find you and your services. If you want to expand your business than it’s good that you create a website or at-least a free blog on blogger.com. This way you can increase the confidence level of your customers.
How to Start Work
Now that you have open all accounts it’s time to start finding customers. Best way is to find customers is by posting your ad on Facebook. But you should also find some other ways like posting your ad on Olx.com.pk, Hafeezcentre.pk, bolee.com etc. Again don’t stop here and start investing little money on Facebook ads, Google Ads and some old school local newspaper ads. The golden rule of this business is that never send money first to your client and always ask them to send currency first. If they don’t agree than level the deal.