Large money transfers to and from South Africa
Learn how to send large sums to and from South Africa without the hassle.
Learn how to send large sums to and from South Africa without the hassle.
Transfer provider of the year 2023
Experts in currency
R234bn transferred each year
Transfers to 120+ countries
There are many reasons why you might need to make a large international payment, from property transactions to emigration.
Whatever the reason, it’s vital that your transfer is safe and secure, and that you get an excellent exchange rate.
So, having an expert on your side to offer specialist support can make all the difference.
We take care of the red tape and help our customers pick the best solutions for their requirements.
Buying property
Buying a dream property abroad can seem complicated, but making your money go further is simple with tailored services, guidance and support.
Selling property
If you’re selling an overseas property and need to transfer the proceeds, we can help you secure a strong exchange rate and get more from your money.
Emigration
Tick one thing off your moving checklist and organise your currency transfers early on – we’ll monitor the markets for you, helping you secure the best exchange rate.
Offshore investments
If you’re diversifying with offshore investments, international property purchases or business acquisitions, we’ll handle the paperwork, obtain your tax clearance and ensure perfect timing.
If you were born in South Africa but have since left, trying to move money into your international bank account from South Africa can be quite a challenge, but we’re here to help.
If you want to use your annual discretionary allowance (R1m per calendar year) we can help you benefit from great rates and low fees.
Remember, as a South African, you only need a registered tax number to make use of your annual R1m allowance.
If you’re looking to invest overseas in the NASDAQ or Dow Jones, a new business or that dream holiday home, come to us and we’ll help you through the necessary paperwork, obtain your tax clearance and make sure we time things just right.
While transfers over R11m aren’t a standard allowance, it is possible if you have everything in order, and with the help of our team it can be submitted and approved within a couple of months.
Moving money into or out of a Trust has become quite a tricky business – but with us you can navigate all the challenges and paperwork linked to Trusts and their recipients.
When you’re picking a transfer provider, there are two main options. You can opt for a high-street bank or go with a specialist money transfer company.
While many people choose to make large transfers through their banks, this isn’t always the best option.
Banks often work on higher margins than currency specialists, meaning you could get a better deal elsewhere. And they tend to offer a limited range of services, making it harder to time your transfer for when the market is in your favour.
It’s often better to use a money transfer provider for sending large sums, as they may get you a much better deal.
Currency providers tend to offer more competitive exchange rates than banks so you get more from your money. They’re also better placed to guide you through the process, offering a wider range of services and personal support.
At Currencies Direct, sending money overseas is our specialty.
Established in 1996, we’ve been helping people and businesses save money on their overseas transfers ever since.
All our foreign exchange transactions are processed through an Authorised Dealer Bank in South Africa in strict accordance with South African Reserve Bank (SARB) Exchange Control Rules and Regulations. Our client funds are held in a separate personalised interest-bearing account with a SARB approved Authorised Dealer Bank.'
The thing that really sets us apart is our personalised approach, which is particularly important for larger transfers.
As a Currencies Direct customer, you’ll have your own account manager. Their role is to understand your needs and use their currency exchange expertise to help you get the best deal.
They’re also on hand to provide guidance and support if you ever have any questions or concerns, and they’re always happy to help.
Sending money abroad should be simple. With us it is.
Over the phone or register online and one of our dedicated account managers will call you to help you with the rest.
Including free SARS tax clearances, SARB or exchange control approvals and so much more.
We'll help you pick the right time to move your money so you secure a great rate.
Via bank transfer, debit card or your wallet balance.
We'll get the currency where it needs to be swiftly and securely.
We always try to get you the best exchange rate possible. And the larger the transfer, the better the rate we can offer.
With Currencies Direct, everything is transparent. We charge a small margin on the interbank rate and show you exactly what you’ll get upfront.
When you agree an exchange rate with us, that’s the amount you’ll receive - though a nominal fee may apply for business customers.
The more money you transfer in a single transaction, the better the exchange rate we can offer, as we can reduce our margin and pass on the savings to you.
With Currencies Direct, everything is transparent. We charge a small margin on the interbank rate and show you exactly what you’ll get upfront.
When you agree an exchange rate with us, that’s the amount you’ll receive. There are no additional transfer fees or hidden charges.
The more money you transfer in one go, the better the exchange rate you receive as we’re able to take a smaller margin and offer a stronger rate.
When sending large sums overseas, timing the market right can make all the difference. That’s why we work hard to help you find the best time to transfer.
Fix the exchange rate in advance and protect your future transfer from negative market movements.
Target an exchange rate higher than the current level. Your transfer will trigger automatically when the rate is hit.
If you set a rate alert, you’ll receive an instant notification when the market moves to your target rate.
Exchange currencies while the rate is strong and hold it in our digital wallets until you need it.
Sign up for daily insights from our currency analysts, keeping you up to date with the latest market movements.
Contact our team for a live dealing rate based on your requirements.
Your security is our priority. We have measures in place to keep your funds safe, and we’re here to help you protect yourself from fraud. There are important steps you must take to protect yourself from fraudsters, including checking that your payee is genuine and that their account details are correct.
Send money to 120 countries in 40+ currencies.
United Kingdom
United States
Canada
Spain
France
Italy
South Africa
Germany
Ireland
Portugal
Sweden
United Arab Emirates
Pound sterling
Euro
US dollar
Canadian dollar
Australian dollar
New Zealand dollar
Japanese yen
South African rand
UAE dirham
Norwegian krone
Swedish krona
Danish krone
Speak to an expert about your large transfer requirements today.
With Currencies Direct you won’t pay any additional fees when you send money abroad through a personal account. A nominal fee applies to business transactions. We calculate the rate you will receive by adding a small margin to the wholesale exchange rate.
It’s worth noting, however, that once your money has left us other banks in the process might add fees of their own. For example, the recipient’s bank might charge a ‘receiving fee’.
There are certain limitations to be aware of. South African residents can transfer up to R1 million per calendar year without the need for SARS approval. Non-residents, however, will require exchange control or SARB approval, a process we are happy to assist with at no additional cost.
Whether or not you need to pay tax depends on many things, such as your tax residency and the reason for the transfer. For instance, you may need to pay Capital Gains Tax if you sell an overseas property.
We’re not allowed to give tax advice, so we recommend speaking to a financial advisor or the relevant tax authority.
All the currencies we offer are available for large transfers, although there may be other restrictions on some of them. It’s best to get in touch with our team if you want to check your requirement.
We buy currencies in bulk, at wholesale rates, and sell them at retail rates. The difference is our profit.
With larger transfers, we can offer our customers a rate much closer to the wholesale rate.
This depends on where you’re sending the funds and when you get your money to us. If you have funds on account the transfer can be made same day.
For a more accurate estimate for the currency you’re sending, see our currency guides.
If we come across any issues while making the transfer, we’ll get in touch with you right away. Similarly, if you have an issue – such as the payment not arriving on time – get in touch with us and we can investigate.
Our operations team can put a trace on your money to follow its progress and work to resolve your issues. You can call us on +27 (0) 21 418 0105. or email [email protected].
