Not too long ago it was not permissible to invest offshore from South Africa as exchange control regulations prevented South Africans from doing so. Over the last decade or so exchange control regulations have been relaxed and more and more South Africans now seek to hedge against the rand and provide their investments with some foreign exposure by investing offshore from South Africa.

Nearly all investment types are permissible ranging from property to shares and simple cash holdings.

Whatever the investment type you select, you will have to transfer your South African rand into the currency of your new offshore investment. This transfer of money should be seen as part of your investment process and the choice of how you transfer could have a profound effect on your return.

It is always worth bearing in mind that if your investment is made through a company there is no necessity for you to use their recommended currency provider and also that your bank may not be the best option.

Incompass forex specialises in foreign exchange and our clients benefit from:

• Market leading exchange rates.
• No administration fees levied by us for transfers in excess of ZAR50,000.
• Expert guidance in terms of the regulations.
• Personalised service offering.

In summary more for your money!! A small difference in the exchange rate or the avoidance of fees can mean significant savings when you invest offshore from South Africa.

Contact Incompass Forex now on + 27 (0) 21 424 2936 during office hours or request call back here.

With Incompass, transferring your funds in or out of South Africa could not be easier. Our process is designed to ensure minimum hassle for you but with the maximum benefits.

Transferring Money into South Africa

Step One – Complete your free and non obligatory registration form with Incompass

Step Two – Please send us an original certified copy of your passport and a proof of your residential address, not older than 3 months. The best way forward is to first email or fax copies to us to avoid delays and to then post the originals afterwards.

Step Three – Transfer the amount of foreign currency you wish to transfer into South Africa to our trading account. Let us know via email the exact amount.

Step Four- As soon as your money is reflecting, our team will give you a call to inform you accordingly and discuss the current exchange rate

Step Five – When you are happy with the rate, we will trade for you and the money will be in your nominated bank account within 3 working days.

For companies please see our business services here

Transferring money out of South Africa

Step One – Complete your free and non obligatory registration form with Incompass

Step Two – Please send us an original certified copy of your passport and a proof of your residential address, not older than 3 months. The best way forward is to first email or fax copies to us to avoid delays and to then post the originals afterwards.

Step Three – Our team will get in touch with you to discuss the best way of getting your transfer approved from an exchange control perspective and will inform you which paperwork will be necessary

Step Four – Once we receive exchange control clearance you please need to transfer the amount of South African Rand that you wish to transfer overseas into our trading account.

Step Five- As soon as your money is reflecting, our team will give you a call to inform you accordingly and discuss the current exchange rate

Step Six – When you are happy with the rate we trade for you and the money will be in your nominated bank account within 3-4 working days.

Start your process to better service and exchange rates here

To find out more about how we can help you with the transfer of your one million allowance call us on any of the
numbers below or send us an e-mail.

Ph: Cape Town +27 (0) 21 424 2936
Ph: Johannesburg +27 (0) 11 234 4275

South Africa has in place exchange control regulations so to get money out of South Africa has never been a simple as just effecting a bank transfer. In the not so distant past residents were not allowed to hold investments outside of South Africa and emigrants suffered from what was referred to as blocked rands. Since exchange control rules have been relaxed it has become easier in moving rands abroad but it still remains a sometimes complex process.

Get Money out of SA , Moving Rands Abroad

How easy it is to move rand’s abroad depends largely upon the amount you wish to transfer out of South Africa.

There are a number of allowances that allow you to get money out of South Africa and move your rand’s abroad, mainly:

• Annual foreign investment allowance – available to all South African adult citizens or permanent residency holders over the age of 18. The annual limit is R10 million per calender year per person. The utilisation of this allowance requires the individual to be in good standing with the South African Revenue Service and a tax clearance certificate is required.
• Annual discretionary allowance, this cannot exceed the limit of R1 million per year per adult and no tax clearance is required.

How approval for moving rand’s abroad is gained

Where approval is required it must be given by a the South African Reserve Bank or by an authorised dealer who has been given the power to act on the Reserve Bank’s behalf. Further, applications can be compiled by currency companies and presented to the authorised dealer they work with for processing.

Tax clearances, which make up an integral part of any application for moving rand’s abroad will also be able to be compiled and submitted by your currency company. In the case of Incompass this is a service that is provided free of charge.

Incompass Forex offers you:

• Advise on the best way to get your money out of South Africa
• The best exchange rate for moving your South African rand
• Full assistance with tax clearance and exchange control approval
• Superior service levels and expert knowledge

Contact Incompass

If you are moving rands abroad and want to know more about the best way to get money out of South Africa call us on any of the numbers below or send us an e-mail.

Ph: Cape Town +27 (0) 21 424 2936
Ph: Johannesburg +27 (0) 11 234 4275

Incompass is able to provide you with up to minute exchange rates for South Africa. To obtain the current exchange rate simply give us a call on the the above number, we charge no set fees and our rates are 99% of the time better than that of our competitors.

For clients searching for the exchange rate for South Africa on the internet, please be aware these rates are often indicative rates and not necessarily what you get. It is always best to contact your currency provider who will be able to give you the exact exchange rate at that time.

We can assist with:

• Exchange rates for transferring your South African Rand into a foreign currency,
• Exchange rates for transferring your foreign currency into rand,
• Exchange rates for all major currencies,
• Tax clearances,
• Use of your foreign exchange allowances.

If you want to get the best exchange rate for South Africa look no further than Incompass Forex.

Ring us now on + 27 (0) 21 424 2936 during office hours or request call back here.

Looking for an exchange rate for money transfers to or from South Africa read the below important information:

Definition of an exchange rate for money transfers:

An exchange rate is often also described as foreign-exchange rate, forex rate or FX rate, the below applies to all of these.

A quoted exchange rate between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one countries currency in terms of another countries currency. For example, an inter-bank exchange rate of 91 Japanese yen (JPY, ¥) to the United States dollar (US $) means that ¥91 will be exchanged for each US$1 or that US$1 will be exchanged for each ¥91.

What exchange rates for money transfers tell you

The actual exchange rate quoted by money exchange dealers in the retail market will usually be different for selling or buying currency. The difference between these allow for the foreign exchange dealer’s margin (or profit) in trading, or else the margin may be recovered in the form of a “commission” or other fee.

The spot exchange rate refers to the current exchange rate. The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date.

What you need to know – don’t be misled!

Key to looking at exchange rates on the internet are the following:

• What exchange rate is actually being quoted – the interbank rate (commercial rate) or retail rate. The interbank rate is not reflective of the rate you will get – it in fact nearer or the same as the rate the foreign-exchange dealer is paying for the currency not what they are selling it to you for.
• The timing of the rate – exchange rates alter by the second and can fluctuate widely, in other words what you see is not what you might get. It is the exchange rate at the time you deal not at the time you see it.
• Exchange rates published may exclude charges or commissions – a slightly better exchange rate can still mean less in your bank account when all charges and commissions are taken into account. In some cases as much as 3-4% difference.
• It is nigh on impossible to compare apples with apples due to the fact that the exchange rate changes so much and websites are often not updated.

What should you do?

Online calculators have their place but in searching for an exchange rate but the most important thing is to compare it to the interbank rate. It is what ends up in your bank account that matters not the exchange rate in isolation from the costs and commissions that will be deducted. Speak to the foreign exchange dealer and get an exchange rate confirmation from them.

If you seek great service, no administration fees and market leading foreign exchange rates on your currency and money transfers to and from South Africa.

Contact Incompass Forex now on + 27 (0) 21 424 2936 during office hours or request call back here.

Currency money exchange in South Africa offers a few more challenges than in most places due to impact of exchange control regulations.

Whether your currency money exchange is transferring money into South Africa or out of South Africa, exchange control will have an impact on how you effect the transfer, the paperwork trail and the provider you use to transfer your money for you.

In short, it’s not just a case of securing the best rate for your currency money exchange but also making sure that the transfer is carried out in compliance with the exchange control rules. Contrary to some opinions how you transfer your currency into South Africa can have a profound effect on how and if you can ever transfer it back it out again.

Introducing Incompass

Incompass Forex is a South African based, FSCA registered company that provides currency money exchange services. We are able to provide you with advice about the various exchange control regulations as well as provide currency money transfer services that incur no administration fees and the most competitive rates available.

We operate with an in depth knowledge of exchange control and ensure our clients make decisions that are based on well researched facts. We also pride ourselves on our service levels that are both client focused and personal, this boast is backed up by us being accredited with both ISO 9001 and 27001 status.

Our services extend to both the transferring of money out of South Africa and the transferring of money into South Africa.

If you seek a currency money exchange provider that offers great service and great rates, fully versed in exchange control then look no further than Incompass Forex.

Contact Incompass for Currency Money Exchange

To find out more about how we can help you with your currency money exchange to South Africa call us on any of the numbers below or send us an e-mail.

Ph: Cape Town +27 (0) 21 424 2936
Ph: Johannesburg +27 (0) 11 234 4275

Incompass Forex is a market leading currency transfer specialist. We offer a professional, efficient, knowledgeable and cost-effective money transfer or currency transfer service to individuals and corporations needing currency and money transfer services into and out of South Africa.

Our in-depth experience and dedicated team means we take the worry out of your currency transaction. With Incompass foreign exchange money transfers have never been this easy.

Why not to use your bank for your currency and money transfer needs.

Utilising the services of a high street bank to do your currency and money transfers, whilst seemingly the obvious choice, can actually lose you up to 3% of what you are transferring on the exchange rate alone. Along with this banks normally charge extra commissions and transfer fees on all wire transfers.

In other words a R4 million transfer could cost you R 120,000 more than it needs to!

Why consider Incompass for your Currency and Money Transfer To and From South Africa

At Incompass Forex we offer a specialist currency and money transfer service that is regulated by the South African Financial Services Board. All of our transactions are in line with money laundering regulations and will be done via an authorised dealer of the South African Reserve Bank.

Put simply:

• We get you a better rate.
• We do not charge service fees for transfer over ZAR 50,000.
• We are FSCA regulated and South African Reserve Bank Approved.
• We are both ISO 9001 and 27001 accredited.
• All currency and money transfers are conducted through a Reserve Bank authorised dealer.
• We have excellent in-house knowledge of exchange control regulations.

How we get you a better rate on money and currency transfers

We are specialists in the currency exchange markets and can save you time and money on all your money transfers both in and out of South Africa. We deal in bulk volume which enables us to access wholesale rates of exchange, that we in turn can pass onto you and your clients.

How does it work?

You simply do a local transfer from your bank to our client account with Investec (in your own currency). Once we have received your money, we get in touch to discuss the exchange rate with you. You then let us know when you wish to affect the trade and payment is processed (we can also watch the rate on your behalf).

The funds will arrive in your chosen account account within 3 working days.

Summary

Incompass is one of the leading suppliers of money and currency transfer services to and from South Africa. We are rightly proud that the majority of our new clients come from referrals and recommendations from professional companies and existing clients.

If you seek great service, no administration fees and market leading foreign exchange rates on your currency and money transfers to and from South Africa.

Contact Incompass

To find out more about how we can help you with your currency and money transfer to and from South Africa call us on any of the numbers below or send us an e-mail.

Ph: Cape Town +27 (0) 21 424 2936
Ph: Johannesburg +27 (0) 11 234 4275

Whether you are looking to exchange currency for a holiday, house purchase, living costs, immigration, emigration or investment then you have come to the right place. We can help you make your money go further!

Incompass currency exchange services can help you obtain the best rates of exchange with no service fees and advice on the exchange control regulations that are in place in South Africa.

Our currency exchange service is easy to use and understand, easily accessible (yes you get to speak to a real person) and offers the best currency exchange rates.

You can look forward to transparent exchange rates, FSCA and reserve bank approved and regulated services and ISO accreditation for service and security.

How to access the Best Currency Exchange Rates

First of all is it the best currency exchange rate you are after? Or is it the largest amount of the foreign currency you seek ending up in your bank account. The two are very different.

Currency exchange rates often do not include all the costs:

• Service fees.
• Admin fees.
• Fixed costs.
• Commissions.
• Bank charges.

All of the above eat into the amount you actually receive and are often hidden away in the small print.

If you are seeking the best currency exchange rate, that includes all costs and fees, contact Incompass Forex and speak to one of our real persons. We will guide you through the options, provide you with the exchange control knowledge you need and assist you in securing the best currency exchange rate and save you money.

Contact Incompass

To find out more about how we can help you with your currency exchange call us on any of the numbers below or send us an e-mail.

Ph: Cape Town +27 (0) 21 424 2936
Ph: Johannesburg +27 (0) 11 234 4275

If you are looking to buy South African Rand we offer:

• NO Administration fees.
• TOP exchange rates.
• SUPERIOR service.
• FREE help and assistance with tax clearance certificates.
• COMPLIANCE with exchange control regulations.

Who are Incompass?

Importantly we are an FSCA (Financial Sector Conduct Authority) and South African Reserve Bank (SARB) approved and regulated money transfer company. We are also South Africa’s only ISO 9001 and 270001 accredited money transfer company.

Our network covers the whole of South Africa and we have branches in Cape Town and Rivonia.

Our licence permits us to provide you with services to buy South African rand and sell South African rand. So whether you wish too transfer money into or out of South Africa we are able to assist.

Rates and Service

When transferring money to South Africa, getting the best exchange rate for buying rand will of course be at the top of your requirements. A phone call to us will provide you with the best exchange rates to buy South African Rand as well as guiding you through any exchange control regulations that may impact your ability to repatriate funds in future.

We pride ourselves on delivery and our service levels reflect this. We know our client’s by name, not number and are proud of the fact most of our new client’s come by way of an introductions from a satisfied existing one.

Working with Incompass

Registration with Incompass forex is free and non non-obligatory and expert advice is always just a phone call away. So next time you are looking to buy South African Rand give us a call and experience our service and excellent exchange rates for yourself.

Contact Incompass to buy South African Rand

To find out more about how we can help you to buy South Africa rand call us on any of the numbers below or send us an e-mail.

Ph: Cape Town +27 (0) 21 424 2936
Ph: Johannesburg +27 (0) 11 234 4275

Every month, literally billions of rand, are both transferred into and out of South Africa. South Africa differs from the majority of other countries when it comes to transferring money due to its exchange control regulations.

Typically the vast majority of individuals and companies still turn to their banks (particularly in South Africa) for money transfer services – this often means high fees, less attractive exchange rates and a lack of expert advice.

The continuing nature of this is down to one important fact:

1. The lack of knowledge of a suitable alternative

Incompass Forex provides a suitable alternative that offers no administration fees (for transfer over ZAR 50,000), better exchange rates and a highly personalised expert service.

We are now offering to a selected number of highly motivated individuals the opportunity to share in our success with our affiliate programme. The affiliate programme offers individuals and/ or businesses the opportunity to use their marketing and networking capabilities to leverage substantial additional income.

We currently have opportunities available in Johannesburg, Pretoria and Port Elizabeth.

Expressions of interest with this opportunity are welcome under the following criteria:

• This opportunity is for individuals wishing to either set up or expand their business offering, it is not an employed position. Therefore applicants should be self motivated, entrepreneurial and serious about building an ongoing income stream.
• The affiliate’s focus will be on building up a network of introducers. These introducers will come from various backgrounds but would include accountants, attorneys and trade organisations. The appropriate communication and presentation skills will therefore be a pre requisite for success.
• Success as an affiliate will only come from activity, in particular the building of a network of introducers, applicants should therefore ensure they have suitable resources and time available.
• An interest and knowledge of general economic and business events will be required.
• Applicants who have existing networks (or access to) will undoubtedly have an advantage over those without, this however does not preclude driven individuals from joining as an affiliate.
• Whilst there is no licence fee or costs levied from Incompass to successful applicants, we want you to succeed. Applicants therefore need to ensure they can commit in terms of time and effort.
• Affiliates will be able to concentrate on building up their network as Incompass will manage all day to day operations including record keeping and foreign exchange trading.

In order to learn more abut this opportunity please e-mail stuart@incompass.co.za to arrange a meeting.