Exchange control allowances: Sending money from South Africa to the UK
Private clients sending money from South Africa to the United Kingdom need to abide by Exchange Control Regulations governed by the South African Reserve Bank (SARB).
A private client may transfer money from SA to the UK under the following Exchange Control Allowances set out by the South African Reserve Bank:
- R1 million Annual Discretionary Allowance
- R4 million Foreign Investment Allowance
- Formal Emigration Allowance
For more detailed information on each of the available allowances please read our article:
The above are the most common allowances applicable for sending money out of South Africa to the UK.
For a full list of available allowances see the South Africa Reserve Banks Exchange Control Manual
The foreign exchange for your transfer needs to be bought from an 'Authorised Dealer Bank'. Exchange4free has partnered with authorized banks to provide the best foreign exchange rates possible for you to send your money to the UK.
We have helped many South Africans over the years to buy British Pounds and send it to the United Kingdom cheaper then the local banks and have streamlined the process though our easy online form application process.
After you fill out the form we will:
- Contact you for any extra information
- Explain the process and answer any of your questions
- Apply for and acquire any tax clearances on your behalf
- Provide you with a GBPZAR exchange rate and purchase British Pounds for your transfer
- Send your money to the United Kingdom
For further information on sending money from South Africa please visit our website www.exchange4free.co.za or call our South African office for assistance.