@ SyedAbbas,
It really sad to know, don't forget that usually there is 5% service charge on forex transactions, with that total comes out to be 105,100 at current rates.
Given the situation you have following options
1. Confirm with the bank if transaction is approved on current forex rates or including the service charges
2. Many banks allow certain %age of "OVER LIMIT" but they charge extra for it. Ask your bank about that "OVER LIMIT" cushion as well. Try to negotiate that %age. Tell them they can charge extra commission for allowing extra over--limit
3. Usually, if you deposit cash, your limit automatically increases, again ask this question very specifically.
4. Still to be on a safe side, my suggestion, ask the bank to seek special permission from SBP on one-off basis to increase the limit. The officers at SBP are well educated and they usually help to their level best. Again, to provide comfort to the bank, you can agree to deposit full amount of expected transaction plus 20% extra (for forex fluctuation) in CASH as soon as they agree to execute your transaction, even if its above limit.
Note that its still 2-3 week (at earliest) before your application will be considered, and SBP respond to such requests in a week to 10 days.
Net Net, you need to talk to bank's senior management ASAP and request them to resolve this issue. As a "carrot" you can offer them to deposit your "Settlement Fund" for next 6 months or so at very low return.
Btw PM your bank name and city.
Meanwhile, you can also get a DD prepared and send it to CIC. They may still accept it, but you wont come to know about the outcome till the DD is encashed. But on parallel try to obtain second copy of IELTS and ECA to be ready with another application, if non of the pt # 1-4 works out .
Best of Luck!!! Stay in touch through PM
SyedAbbas said:
Hi All,
Need your prayers and suggestions!
Our application reached on 14th of May, and we have given our card details for application fee submission, however, later on, we came to know that the limit of card is Rs. 100,000/= only. Now, although we have sufficient balance in our account, yet we are hanging on the edge. Currently, the price of dollar is around Rs. 90.50, which makes it around Rs. 100,000/= for me and spouse, but it is continuously fluctuating. If it remain under the limit our CC will be charged, else what will happen!!!
Please suggest a way, how can we avoid return of application.