Whether you are emigrating to the ‘Rainbow Nation’ yourself, or paying money to a family member living there, you will no doubt need to send money to South Africa from the UK.
Sending money from the UK to South Africa has never been easier. With hundreds of thousands of British expats living in South Africa, money is transferred between the UK and their adopted home everyday.
A money transfer service can provide a competitive pound to rand exchange rate, without the transfer fees that banks often charge. That saves you money that can be better spent on a cool chenin blanc in the Cape Winelands.
What do I need to transfer money to South Africa?
To make a money transfer to South Africa, you will need your personal details, the reason for trade, plus the following information – whether it’s your account in South Africa or another recipient:
- Beneficiary name
- Beneficiary account number
- Swift Code or BSB/Routing number
- Bank name
How difficult is it to send money to South Africa?
We’ve teamed up with currency specialist moneycorp to bring our readers the Telegraph International Money Transfer Service. Opening an international payments account is straightforward. Once registered you will be able to send money to and from South Africa with ease.
moneycorp’s expert service includes:
Currency market guidance.
Specialist tools that enable you to manage your international payments effectively.
The ability to fix the pound to rand exchange rate for up to two years using a forward contract. (Please note a forward contract may require a deposit.)
Can I send money to South Africa online?
moneycorp provides all clients their own online currency account. This allows you to make international payments at any time and from anywhere in the world.
All you have to do is choose the currency you want to transfer, provide the amount and make the payment – all online.
You can also download the mobile app, which lets you make payments on the move, track their progress, monitor live exchange rates and sign up for email alerts on FX market movements.
Can I set up regular payments to South Africa?
If you need to make regular payments to South Africa, or you have ongoing commitments in the UK, moneycorp can take the hassle out of sending money overseas. Ask your personal account manager about taking advantage of a Regular Payment Plan.
This automated tool ensures your regular international payment requirements are met without fail. Simply provide your schedule, the amount and the recipient’s details and let moneycorp take care of the rest.
It also allows you to fix the pound to rand exchange rate, so you know exactly how much money is leaving your account with every payment.
How long does it take to send money to South Africa from the UK?
You can set up a moneycorp online currency account in minutes. Once you have an account, you can make as many international payments as you please.
For each transfer, add your recipient’s details – or select ‘existing recipient’ if you have sent them money before – and exchange the amount you want to send.
As soon as you send the money, you can expect your online transfer to reach South Africa within 1-2 working days. Express payments usually arrive the same day.
Value for money
The Telegraph International Money Transfer Service delivers real value and helps you understand and manage your money abroad. You can get access to expert guidance on the currency market, competitive exchange rates and a range of tools for making international payments over the phone, online and via the app. In addition, there are no transfer fees,* which means you can get more for your money. Call us today, or go online to find out more.
- Get competitive GBP to ZAR exchange rates and zero transfer fees* when sending money to South Africa with the Telegraph International Money Transfer Service.
moneycorp is a trading name of TTT Moneycorp Limited which is authorised by the Financial Conduct Authority under the Payment Service Regulations 2017 (reference number 308919) for the provision of payment services.
*excludes regular payment plans
The above article was created for Telegraph Financial Solutions, a member of Telegraph Media Group. For more information on Telegraph Financial Solutions, click here.
Information correct at date of publication.