Transfer Funds From South Africa
Discover how Rand Rescue can assist you to get your rands transferred abroad.
How to transfer your funds from South African at preferential exchange rates
As trusted experts in the facilitation of international funds transfers, we will ensure that the transfer of your rands is seamless and efficient.
Your Annual Allowances
If you're still considered a tax resident by SARS, you can transfer up to R1 million per calendar year without requiring SARS approval. Additionally, with an Approval International Transfer from SARS, you can transfer an additional R10 million annually.
Donation Tax only kicks in once you've donated more than R150,000 in a single tax year. In other words, you can make multiple donations in a tax year, and as long as the total value of the donations doesn't exceed R150,000, you won’t have to pay any Donations Tax at all.
Opening A Bank Account In South Africa
When transferring rands abroad, we work with JP Blue Capital Consulting (Pty) Ltd, Capitec Business Bank and Investec Bank Limited to open an account for you in South Africa. You need to have your barcoded ID book or smart ID card and your South African tax number in order to open a bank account in South Africa.
What You Need To Know
The trading accounts are purely for foreign exchange purposes. These accounts are not transactional accounts and therefore have no transactional facilities, such as internet banking or bank cards.
How Long Does It Take To Transfer My Rands Overseas?
Once we receive your application forms and supporting documents, it typically takes 1-2 days for the Authorised Dealer (bank) to open your account. Once your funds have been transferred into the account, it usually takes around 3 business days to reflect in your overseas bank account.
“Just a note to say thank you very much for all the time and effort your professional service throughout the whole process. It's been a pleasure working with you. We are sure to put your name out there in the community with good references for a Job Well Done!! ”
Thank you so much for recovering my Rands . We as a family , sincerely appreciate all you efforts. Given the opportunity, I will not hesitate recommending you in the future. Our sincere thanks and gratitude.
“I am so so over the moon with this process so far, with your service, with your delivery and most of all, your communications throughout this process! That's why I love South Africans - because we just get the job done!”
"I would like to thank you and everyone at Rand Rescue for the exemplary assistance you have given me in surrendering my Liberty Life policies. Everyone I have dealt with has been efficient, prompt and easy to communicate with, and I would not hesitate to recommend your services to anyone looking for the same type of assistance."