FX Fund
TRANSFERS
FX Fund
TRANSFERS
When it comes to FX fund transfers, AussieFin understands the significance of seamlessly moving your money across borders. It’s crucial to approach this process with care and rationality, and we aim to help you maximise the advantages of FX fund transfers, securing a deal that offers competitive exchange rates, minimal fees, and a variety of convenient transfer options. Whether you’re sending money to loved ones, investing internationally, or engaged in business transactions, a hassle-free experience is what you deserve.
Don’t let unexpected costs or complications get in the way of your financial goals – trust AussieFin to guide you toward smart financial decisions that allow you to relish the benefits of international transactions without any financial hassles.
As experienced professionals in FX fund transfers, AussieFin is dedicated to ensuring your AUD transfers are both smooth and efficient. Rest assured, we’ve got you covered, empowering you to make the most of your transfers with confidence.
UTILISING
YOUR ANNUAL
ALLOWANCES
For individuals still recognised as tax residents by SARS, you have the opportunity to transfer up to R1 million within each calendar year without the need for SARS approval. Moreover, through an Approved International Transfer granted by SARS, you can transfer an additional R10 million annually.
ESTABLISHING A
SOUTH AFRICAN
BANK ACCOUNT
When conducting rand transfers overseas, we collaborate with JP Blue and Capitec Business Bank to facilitate the opening of trading accounts in South Africa. To open a bank account in South Africa, you’ll require your barcoded ID book or smart ID card, as well as your South African tax number.
WHAT YOU
NEED TO KEEP
IN MIND
Our trading accounts are exclusively designed to transfer rands abroad. They do not include bank cards or direct debit capabilities. To utilise your annual allowances effectively, you must transfer funds to an overseas account registered in your name. Rest assured, we will ensure that all banking prerequisites, including any FICA obligations, are duly fulfilled.
EXPECTED TIMEFRAMES FOR OVERSEAS RAND TRANSFERS
Once we receive your completed application forms and the necessary supporting documents, it generally takes about 1-2 days for the bank to finalise your account. As for the actual transfer of your rands overseas, you can typically anticipate it to be deposited or reflected in your overseas bank account within approximately 3 business days.
