January 17, 2022
Transfer money Safely & Securely out of South Africa
Transferring money out of South Africa does not have to be complex. Here you will find a simplified and friendly solution to transferring money abroad whilst giving you the security of bank to bank service at bank beating rates.
Specialists in South African (Rands) currency transfers.
Helping South Africans transfer money out of South Africa.
We are recognised for our superior customer service and help to simplify the process which means you save time and money with a zero stress transfer service.
As a small dedicated team you are welcome to contact us to guide you on the best transfer solution for your requirements.
How much can you save?
Our Services Include
Discretionary allowance transfers up to R1million*
Investment allowance transfers up to R10million*
Excellent, bank-beating exchange rates
Tax clearance applications
Inheritance and trust transfers to offshore beneficiaries
Sending money from south africa
When sending money out of South Africa, there can be a lot of bureaucratic procedure to comply with, like the South African revenue service and exchange control process and a number of foreign exchange allowances to consider. We are here to help guide you through the process, to make your transfers simple with a dedicated currency expert to help manage the whole process for you.
How it works
White Birch are specialists in transferring funds for South Africans from South Africa to any bank in the world.
Your money is still transferred safely and securely via the bank, however as an intermediary we are able to negotiate the exchange rate that you get for your transaction which is better than what the commercial banks will offer you.
Every resident above the age of 18 has two allowances that they can use to transfer funds from SA:
R1,000,000 - Single Discretionary Allowance
As a resident, you may transfer a total of R1 000 000 from SA every calendar year. Please note that all card transactions, travel allowance and gifting while you are abroad are included under this allowance.
R10,000,000 - Foreign Investment Allowance
As a resident, you may also use this R10 000 000 allowance per calendar year. A tax clearance is required from SARS. This tax clearance is associated with the Foreign Investment Allowance and differs from a normal ‘good standing’ tax clearance.
You may also transfer funds abroad more than these allowances. Please contact us for more information.
The minimum requirement for transferring funds is that you must be in possession of a green bar-coded ID document or the latest ID card
For UK accounts, we can offer guidance on how to open a online account. for other countries, they may allow you to open bank accounts online, and would recommend researching it using the foreign bank’s website for more information.
We believe in paying back into our planet to preserve it for the future generations with our WhiteBirch 'forex' foundation. We plant 6 new trees every month.