Information on Transfers
Transferring money into or out of South Africa involves a change in currency, and that means that the transaction is subject to South African exchange control regulations.
The regulations set certain limits on how much money you are allowed to take out of the country. These limits are known as allowances, and are as follows:
ZAR8 million per family unit
ZAR4 million per adult person
ZAR1 million per adult per year
Zar200 000 per person under 18 years per year
The Discretionary Allowance amounts to not more than ZAR1 million per year per adult person and may be used for purposes of study, travel, or donation.
How To Transfer
A money transfer can be done at a bank, a transfer company or a currency exchange company.
Money Transfers to and from South Africa - here's how:
- Foreign exchange regulations in South Africa 03-01-2011
- Essential money transfer advice for all transactions 02-01-2011
- Exchange control relaxed in South Africa 28-10-2010