Foreign exchange

All foreign exchange transactions in South Africa are subject to exchange control regulations, which are governed by the South African Reserve Bank. As a breach of the regulations may amount to a criminal offence and result in financial penalties it’s essential to ensure that every transfer you make is compliant.

With cashkows.com you’re in the safe hands of a foreign exchange intermediary approved by the South African Reserve Bank. In addition to your complete peace of mind, when it comes to moving your money our total solution provides you with:

  • excellent exchange rates
  • low fees
  • unrivalled personal service
  • free exchange control advice
  • digital documentation
  • secure and compliant processing

We will also obtain your tax clearance certificate, if required and can open a bank account in South Africa, if you don’t have one. Annual exchange control allowances and transfer limits

Foreign investment allowance (FIA)

  • Amount: R10 million
  • Who can use it: available to South African residents and non-residents
  • Transfer requirements: tax clearance certificate and green bar-coded ID document

Single discretionary allowance (SDA)

  • Amount: R1 million
  • Who can use it: available to South African residents and non-residents
  • Transfer requirements: green bar-coded ID document

For the most competitive rates, low fees and unrivalled personal service delivered by a Reserve Bank approved foreign exchange intermediary, talk to the team at cashkows.com and we’ll call you.

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client testimonial

I recently had a great experience with CashKows and the transfer of my SA retirement annuities to Ireland. CashKows also offered to submit a closing tax return to SARS.

Mike Louw

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