Transfer Funds from South Africa
Expert Guidance for International Fund Transfers
At Fin Select, we specialise in helping you seamlessly transfer your South African Rands (ZAR) overseas. Whether you’re moving retirement savings, investment proceeds, or inheritance funds, our team of financial specialists ensures your transfers are smooth, compliant, and cost-effective.
Our Price Guarantee
We’re so confident in our service quality that we offer an unprecedented guarantee: we’ll beat any written competitive quote by up to 25%. This reflects our commitment to delivering both value and excellence in international fund transfers.
Transfer Your Funds at Preferential Exchange Rates
With our expertise and established relationships, we offer you a reliable and efficient way to move your South African funds abroad while minimising fees and delays. Our competitive exchange rates help maximise the value of your transfers.
Understanding Your Annual Allowances
For South African tax residents, there are specific allowances for international transfers:
R1 million Discretionary Allowance
Transfer up to R1 million per calendar year without requiring SARS approval. This straightforward process allows quick access to your funds abroad.
R10 million Foreign Investment Allowance
With an Approval International Transfer (AIT) from SARS, you can transfer an additional R10 million per year. Our team guides you through the approval process and ensures all documentation meets requirements.
Opening Your South African Bank Account
Our Banking Partners
We work with leading financial institutions, including:
- Capitec Business Bank
These partnerships enable us to efficiently open accounts for non-residents when necessary.
Account Requirements
To open a bank account, you’ll need:
- A valid barcoded South African ID or smart ID card
- A compliant South African tax number
Our team assists you in meeting these requirements and manages the entire account opening process on your behalf.
Important Information About Your Account
Trading Account Specifications
The accounts we establish are specifically designed for foreign exchange purposes. These are not traditional transactional accounts and do not include:
- Internet banking services
- Debit card facilities
- Regular banking features
Regulatory Compliance
We ensure all transfers comply with South African Reserve Bank (SARB) and SARS regulations. Our thorough understanding of these requirements helps prevent delays and complications in your transfers.
Transfer Timeline
Our efficient process typically follows this timeline:
Account Opening
1-2 business days for the authorised bank to open your account once all documentation is received.
Fund Transfer
1 to 2 business days for funds to reflect in your overseas bank account after the transfer is initiated.
The Fin Select Advantage
Expert Knowledge
In recent years, many new providers have entered the market offering fund transfer services. However, the risks of working with inexperienced providers can be substantial and costly. Our team brings decades of combined experience in navigating complex regulations and ensuring efficient transfers.
Comprehensive Service
We handle every aspect of your fund transfer:
- Account setup and documentation
- SARS approvals and compliance
- Exchange rate optimisation
- Transfer execution and monitoring
Preferential Rates
Our established relationships and high transfer volumes allow us to secure competitive exchange rates, helping you maximise the value of your transfers.
Why Experience Matters
When transferring your funds internationally, choosing the right partner is crucial. Our team brings:
- Deep understanding of South African exchange control regulations
- Proven processes and systems
- Strong relationships with financial institutions
- Commitment to excellence in service delivery
Start Your Transfer Today
Getting Started Is Simple
- Contact us for a free, no-obligation quote
- We’ll assess your specific situation and provide clear guidance
- Our team handles all necessary paperwork and approvals
- You receive your funds in your desired destination
Our Service Guarantee
When you work with Fin Select, you’re assured of:
- Clear communication throughout the process
- Transparent pricing with no hidden costs
- Expert guidance at every step
- Efficient processing of your transfer
- Ongoing support when you need it Contact Us
Get Your Free Assessment Today
Trust South Africa’s leading fund transfer specialists to help you move your money overseas. With our unbeatable price guarantee and proven expertise, you can proceed with confidence.