Transferring funds into South Africa

Whether you are transferring your salary from abroad, bringing back the proceeds of sale of an overseas property, or receiving funds from family, you will want to get the most Rands for your Dollar, Pound or Euro.  Utilising CharterForex’s bank-beating exchange rates and with no administration fees for transactions over R250,000, you can be assured you will be maximising your funds.

The way in which you bring money into South Africa can have implications if you ever want to take it out of South Africa again – another great reason to use CharterForex for your foreign exchange transactions as we can help guide you through the rules and requirements.

Receiving money in South Africa with Charter Forex
  1. The Forms: We’ll confirm the nature of your forex payment, and supply you with the necessary foreign exchange information and documentation.
  2. Sign: Complete and sign these documents, and include a certified copy of your SA ID and proof of residential address for FICA.
  3. Your SA Account: Once we’ve received your application and FICA documents, we’ll open a bank account in your name with our Authorised Dealer Bank, ready to receive your funds.
    *The SARB requires that you hold an account with the bank facilitating your forex transaction.
  4. Fix a Rate: Once your funds reflect in your bank account with the Authorised Dealer Bank, we will contact you to quote and confirm a conversion rate, ensuring a better rate than the commercial banks.
  5. Send Money: Upon confirmation of the conversion rate, a trade is completed, your transaction is processed, and the Rands will reflect in your Authorised Dealer bank account.