07 Oct The Rand Repatriation Process
Getting Your Rands Out Of South Africa And Into Your Bank Account
We at Rand Rescue always strive to unite you with your rands. Many South Africans who relocate to other parts of the world are often left confused about what they can do to retrieve their funds from their South African retirement annuity policy.
And while it is now legal to withdraw the funds and transfer it to another country, the process is still drawn out and even a little bit complicated.
So what do you do about it? Well, first and foremost, stop worrying! That is right…you do not need to worry at all as we assist you in every step and get most of the work done on your behalf. All you have to do is provide us with the details and we will work diligently to get your money back to you.
The processes involved in getting your rands back
Under the new laws of the country, any South African under the age of 55 can withdraw the funds from his or her retirement policy and transfer it to an account of his or her choice in the country where he or she has migrated to. These funds can be remitted to the overseas bank accounts after the formalities and documentations are completed. We at Rand Rescue help you with the entire process.
First and foremost, you need to register on your website and give us the basic details about you and your funds. We then get in touch with you and the process is initiated. Depending on your physical factors such as your age, your financial health and other such parameters, we advice you and help you out.
We collect the documents on your behalf and submit them to the banks and other required authorities. We even advise you about the kinds of documents that are needed for submission. This saves you a lot of hassle and you do not need to run around asking people for help. You also do not have to do any research to find out about the procedures and the requirements. We do it all for you!
Though our executives work efficiently to bring back your rands, the process is still a long drawn one and it takes some time before you can have your funds transferred from the retirement fund in South Africa to a bank account of your choice.
The first step is for you to fill out the questionnaire which we study and then get back to you. This doesn’t take a lot of time and within a couple of days we get back to you. However, even though we are prompt in our service, the banks in South Africa do take their own time and so it sometimes takes weeks and even months for your documents to get cleared!
For instance, Rand Rescue files the documents on behalf of the client at the South African Reserve Bank. The bank, on its part, takes almost eight weeks to process the documents. And since the documents go through many banks and officials, we cannot guarantee a fixed time frame within which your funds can reach your account. However, on an average, it takes about six months for the funds to get released and reach your account.
Rand Rescue is dedicated to the cause of helping South Africans get reunited with their own rands and so we work very closely with our clients and make sure their money is returned to them. We at Rand Rescue have been in business for about five years and we have a 100% success rate, which means that none of our clients have returned empty handed.
However, we do analyze the clients and their documents before we undertake a case and we only take on applications that we feel we can process. That way there are no false promises and if you hear back from us, you can be assured you will have your annuity fund transferred into the account of your choice.
So if you have migrated to another country or are planning to do so, do not worry about having to leave your hard earned money back in South Africa. The laws have now been changed and made more favorable and you have every right to remit your own rands to the country where you choose to reside.
And do not be intimidated by the long drawn process of getting the funds transferred as we are waiting to help you. So get in touch with us right away and we can join hands to bring all your money back to you.