Are you transferring money abroad but don’t know where to start? Moving money out of South Africa is not easy or simple, it can in fact be quite a convoluted process.
This is because there are several requirements that need to be fulfilled depending on your reason for wanting to transfer the funds.
What is required:
- Appropriate tax clearances obtained
- Declaration of adherence to allowances
- Appropriate audit trail of monies remitted to South Africa that are to be moved abroad
- South African Reserve Bank clearance
South Africans are fast realizing that transferring money through companies like White Birch offers a far easier, inexpensive, and superior experience than to most banks.
At White Birch:
- We charge NO FEES whatsoever
- You only pay a set transfer fee to the bank of R250 per transaction, irrespective of the transaction size where the banks charge a percentage of the transfer amount
- As currencies are our specialty you can speak to our experts for excellent guidance and support
- Personalised and friendly expert advice
- We get the necessary tax clearances and understand the full range of exchange control regulations so that you don’t have to
- We pride ourselves on outstanding relationships with our clients and look forward to doing so with you
Our clients typically transfer money to the UK, USA, EU, New Zealand, Australia and Canada.
Timing is everything. The South African ZAR is a very volatile currency and can be negatively affected by anything as simple as a politician making a statement to other currencies which are indirectly linked to the ZAR like the US $ or Chinese ¥. For this reason, it’s really important that once you are quoted a favourable exchange rate, you commit and accept it very quickly.
- 100% SAFE & SECURE with actual Bank to Bank transfers. *
- Highly competitive exchange rates.
- Transfer up to R1 Million per person per year using the individual annual allowance
- A further R10 Million per person per year can be transferred using the Foreign Investment Allowance. Clearance is required for this allowance for which we are able to assist in applying to make use of this allowance.
Always happy to help & assist.
* Please note no funds flow into 3rd party accounts, this is a true bank to bank service, with the flow of funds going directly from your transfer account to your nominated bank account abroad. We facilitate negotiating better exchange rates than the banks typically offer.
Head Office UK: +44 (0) 207 018 8552
WhatsApp: +44 (0) 790 893 3594