Whatever your reason to transfer money to South Africa might be, Incompass is renowned and trusted by its clients for providing the best exchange rates. With no service fees (for transfers in excess of ZAR 50,000), excellent personal service and importantly; an in-depth understanding of foreign exchange control regulations. In short we provide you with peace of mind and excellent value for money.
There are some key facts you need to be aware of before making a money transfer to South Africa:
- A money transfer to South Africa is regulated under the foreign exchange rules that regulate all money transfers both in and out of South Africa. This means that you need to ensure you deal with a money transfer company that is knowledgeable about exchange control. Failure to comply could complicate or even prevent you from one day transferring your money back out of South Africa.
- Deal with a reputable company – they should be registered with the Financial Sector Conduct Authority (FSCA) of South Africa and have suitably qualified staff.
- Money transfer companies not situated in South Africa are highly unlikely to be regulated by the FSCA and highly unlikely to have any exchange control knowledge.
- Banks tend to charge fees for your money transfer to South Africa (the equivalent of R350 to R600), their exchange rate is usually worse than that of money transfer companies. This means your transfer of money to South Africa results in less Rands in your bank account.
- Your receiving bank in South Africa may well also levy a charge, resulting in a double penalty and less Rand for you.
Incompass is one of the preferred suppliers for money transfer services to 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 money transfer to South Africa.
Contact Incompass Forex now on + 27 (0) 21 424 2936 during office hours or request call back here.