Send money overseas from South Africa, seamlessly and cost-effectively

Yes. South Africans can transfer up to R2 million offshore per calendar year under their Single Discretionary Allowance (SDA), without needing SARS tax clearance. Once this allowance has been exceeded, you can access a further R10 million via a SARS Approval of International Transfer (AIT), which brings your combined annual allowance to R12 million. Our specialists will confirm which allowance applies and handle your AIT application at no extra cost.

There are two main costs to understand: the exchange rate margin (the "spread") and the SWIFT processing fee.

The spread is the difference between a currency's buy and sell rate, and is by far the most significant cost in most transfers. For example, if you're sending R1 million to the US and the spot rate is R18 to $1, a bank might charge you R18.36 per dollar. That R0.36 difference is a 2% spread - and on a R1 million transfer, that works out to R20,000, before the SWIFT fee is even applied. It's common practice in the forex industry to hide this margin rather than disclose it upfront.

The SWIFT fee is a separate, smaller processing charge for sending funds via the international SWIFT network.

At Future Forex, we are fully transparent and consistent in our pricing. Through our strong banking partnerships and economies of scale, we're able to offer one of the most competitive spreads available, with no hidden margins.

We support secure transfers to most major global destinations, including but not limited to:

If yours isn't listed above, you can get in touch with one of our experts to confirm whether we support it.

It's still possible, though it requires an additional step. Once you've used your full R2 million SDA and R10 million AIT, further transfers need special approval from the South African Reserve Bank, granted on a case-by-case basis. Our specialists can guide you through this application and help you plan the transfer with enough lead time, since SARB approval can take longer than standard AIT processing.

It depends on the size of your transfer. Transfers within your R2 million Single Discretionary Allowance don't require a Tax Clearance PIN. Once you move into your Foreign Investment Allowance - for amounts between R2 million and R10 million - a SARS Approval of International Transfer (AIT) is required. Our specialists will confirm whether your transfer needs one and manage the application on your behalf at no extra cost.

For same-day processing, you simply need to ensure that:

Should any of these deadlines be missed, your transfer will be processed on the next day all requirements are met - with your dedicated Account Manager keeping you informed throughout.