October 25

Transferring Money from SA: R1 Million Allowance


Transferring Money from SA: R1 Million Allowance

Transferring Money out of South Africa!!


Transferring money from South Africa simplified. Do you need to transfer money abroad but not sure how much you are allowed to transfer? 

Every South African Citizen over the age of 18 is allowed to transfer R1M per year out of South Africa. This runs on a calendar year from 1st January to 31st December every year. 

In order to transfer funds abroad under this allowance, WB Forex will need to open a Mercantile transfer account in your name, which will require your SA ID number and SA Tax number.

Don’t know where to start? 

•WB Forex will help you open a transfer account in South Africa with Mercantile Bank.

•Once opened, EFT funds into your transfer account.

•Funds clear next working day and we check the rates and advise you.

•If you are happy to proceed, you issue the go-ahead.

•Funds clear the next working day into your UK account.

If you are ready to transfer money out of South Africa or have any questions, email WhiteBirch now at admin@wbforex.com – with dedicated account managers in UK and SA

WhiteBirch Group


Head Office UK: +44 (0) 207 018 8552

Trading desk in Hartley Wintney (UK) & Pretoria (SA)

WhatsApp: +44 (0) 790 893 3594

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