Move money from South Africa to UK
 

My wife has been living in the UK now for about 3 years, and has both British and SA passports.
She has an amount of money in her Standard Bank account and is now looking to transfer this to a UK bank account.
Does anyone know how she can go about it as Standard Bank have been most unhelpful! :mad:

cheers,

Re: Move money from South Africa to UK
 

Why can't she just draw it out with her card?

Re: Move money from South Africa to UK
 

Well, she could, but it amounts to a few thousand pounds so that would involve more than a few visits to the ATM, plus there's bank charges per withdrawal.
Was just wondering if there was a way to get the whole lot at once with a bank transfer or something similar.

I've dropped SARS an email to ask but she may just try withdrawing from ATM's.

thanks anyways...

Re: Move money from South Africa to UK
 

Try XE Trade. A lot of people at BE have used them and recommend them (including us).

HTH! :)

Re: Move money from South Africa to UK
 

An international wire transfer is normally very straightforward. Her bank in South Africa should be able to wire the funds directly to her UK bank account.

Doesn't South Africa still have foreign exchange control, if so, then approval of the central bank may be required.

Re: Move money from South Africa to UK
 

Nothing to do with banking in SA is easy or fast, but it is possible. I had a South African bank transfer money to me. It took 2 months over Chistmas time/ new year. The bank needs to apply to the reserve bank by email I believe. They should ask you for details to confirm the transaction. Then you wait until it is accepted.
From an email I got from the bank, "In this regards we wish to advise that in terms of current Exchange Control Rulings claims payable to non residents may be effected immediately. In the case of emigrants, the matter must referred to the Exchange Control Department of the SA Reserve Bank."
having an RSA passport will mean they will ask a few questions. They will ask which bank handled the migration and how much and when it was transferred.
Have never used XE trade, but it looks like just a look like just another currency exchange bank and they will need to contact STD Bank anyway. I have more money there and am going to give XE trade a try. The first thing is to phone the and branch where her account is held and speak to someone in foreign exchange I think. I have a STD account as well and had difficulties with them. Good luck

Re: Move money from South Africa to UK
 

Reason I mentioned ATM w/drawals. Might take longer but worth while in the end.

Re: Move money from South Africa to UK
 

The bank can do it for you. They are being difficult. I am SAfrican living here. I had money sent over. You need to go onto their website and contact foreign exchange. You would then have to type out a letter giving them permission to transfer the money. I have had money sent over but through a diff, bank-ABSA. Hope all works out.

Re: Move money from South Africa to UK
 

I tried my ATM card, and to my surprise I got some money. The next issue is the fee charged to do this and the limit on the card withdrawal. My ATM card was issued in 1995 and is falling apart. I went into the bank and asked them if I could use the card over the counter. Apparently not!
Transfer
The bank need to ask the reserve bank to do a transfer. it is limited but I dont know at how much. it takes a while (a month or more). At least I can access some money in an emergency.
Thanks for the tip TT

Re: Move money from South Africa to UK
 

Hello,
I am reading through information about xe/xetrade and came across your information. I also noticed the last entry date was back in July.
May I ask, if you did use the xe site. did all go smoothly?

I need to transfer/convert some of my own funds, but am concerned about any of those hidden fees or other tricks.

Any information you could provide to me would be greatly appreciated.

Sincerely
Glad

Re: Move money from South Africa to UK
 

didn't end up using xetrade in the end. we just withdrew cash from an atm when needed.
By all accounts I hear they are very good at this and their fees are reasonable. Although, as an earlier resondent said the banks should be able to arrange it for you. SA reserve bank shouldn't prove too much of a hurdle as long as its not a huge amount of money...

hope this helps

Re: Move money from South Africa to UK
 

Hope this isn't too stupid a question for my first post.
I have an account with Standard Bank in SA and have a plain Autobank card that was issued years ago. I would like to draw funds from my account, can I do so using the Autobank card and which bank would I need to go to?
Thanks

Re: Move money from South Africa to UK
 

HI

I have an Absa savings card and withdraw at any ATM but you are charged. I do however prefer to use Nationwide.

Re: Careful for scammers
 

South Africa will not offer “helpful” as you are taking money OUT !

You need a tax clearance certificate first and my advise there is tell the SARS office you will wait for them to process it, it can be done in a couple of hours.

A word of advice – BE CAREFUL for scams as we have experienced all sorts of scam attacks once it was “known” we had money we were shifting.

Which branch of SB you dealing with ?

Where are you situated that you can not attend to this ?

Cheers