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Transferring money to SA

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Old 07-07-2004, 05:03 PM   #1
tink's Avatar
Question Transferring money to SA

Hi All,

Any advice on the best way to tranfer pounds over to SA?
(best exchange rates/ lowest cost)

Also, any legal restrictions / tax implications on transferring money to SA?

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Old 07-07-2004, 06:49 PM   #2
Walk on By
Joan's Avatar
Join Date: Jan 2004
Location: North Wales
Re: Ask Harry

Originally posted by _W0lf_
Just had a look at this website, Joans suggestion...

loads of useful information!

Answers your questions for transferring money and also advises you on how to avoid the tax man on your income.



Subscribe to Harry's regular newsletter, you get loads of useful information !!
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Old 08-07-2004, 11:55 AM   #3
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Join Date: Jan 2004
Location: London
Hello Tinktinkie!!

Haven't seen you around in a while!!

I have been using easyexchange for more than two years now and have never had any problems with them.

To sign up you just need to send them a certified copy of your passport as the exchange control regulations require possitive identification of some sorts.

Also they charge £8 per transfer and you can transfer any amount between £100 & £10000 a time. If you want to transfer more money they can do it as well, but you have to contact them.

As for the exhange rate they use. Well obviously that's where they make their money. For instance. Today's exchange rate £ to R is currently R11.25/£1 and Easyexhange will transfer moeny today at R11.05/£1. It is worth mentioning though, that the rate they will give you is the applicable rate on the day the money is transfered to your bank account.

You can have any benificiery account in SA at any bank. First of all you transfer the money into Easyexchange's account and once the funds is cleared, they then transfer it onward to the relevant account in SA. You can only transfer money into their account by internet/telephone banking. The whole process normally take between 5 & 7 working days.

I am not quite sure as to what the rules & regulations are in terms of the SA tax man but they will be able to help you out.

For more info see
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Old 09-07-2004, 10:32 AM   #4
tink's Avatar

Thanks for your helpful advice guys! I will go and have a look at these sites.

I haven't been on any Saffer sites/ forums in ages (I hardly recognise the name Tink lol). Spose I have been working too hard!
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