Transferring money from South Africa to UK
Oct 12th 2009, 7:57 pm
#1
Just Joined
Thread Starter
Joined: Jan 2008
Posts: 8
Transferring money from South Africa to UK
hello all,
I recently sold my car in S.A, and want to transfer that money back to the UK.
I'm on a Work permit in S.A and have a FNB account and a Barclays account.
Aside from getting my S.A bank to do transfer (which seems the simplest process), has anyone used other services to transfer money?
Are they trustworthy? And for the commission we save, is it worth it? any experiences/feedback will be very welcome...
thanks in advance...
I recently sold my car in S.A, and want to transfer that money back to the UK.
I'm on a Work permit in S.A and have a FNB account and a Barclays account.
Aside from getting my S.A bank to do transfer (which seems the simplest process), has anyone used other services to transfer money?
Are they trustworthy? And for the commission we save, is it worth it? any experiences/feedback will be very welcome...
thanks in advance...
Oct 13th 2009, 7:44 am
#2
BE Forum Addict
Joined: Feb 2005
Posts: 1,881
Re: Transferring money from South Africa to UK
I recommend you stick to a bank transfer.
Oct 13th 2009, 8:25 am
#4
BE Forum Addict
Joined: Feb 2005
Posts: 1,881
Re: Transferring money from South Africa to UK
Sorry, I don't have time for a long sharing email. Briefly, bank transfers are the least expensive and the most efficient of the reliable options, and also the safest from the fraud point of view.
Oct 13th 2009, 11:30 am
#5
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Joined: Apr 2007
Location: Home, I think.
Posts: 9,217
Re: Transferring money from South Africa to UK
Rennies foreign exchange are very good - used them a few times and no problems. Are you now in the UK? You might need to be here to sign documentation - they normally ask to see you in person due to forex regulations. (copy of passport etc). Cost is about 3% of the total - so it can be quite expensive depending on how much you want to transfer.
The alternative is to just draw it from a bank in the UK using an SA ATM card (obviously this takes a long time depending on your daily limit - but if the rand devalues as everyone expects it to, it might work in your favour). You are supposed to declare this but the reality is that it is impossible for the bank to keep a check, and you will probably be under the annual threshold anyway - which has just increased but don't ask me how much it is at the moment.
Or you could send it to me, and I'll post the equivalent amount in zim Dollars to an address of your choosing.
The alternative is to just draw it from a bank in the UK using an SA ATM card (obviously this takes a long time depending on your daily limit - but if the rand devalues as everyone expects it to, it might work in your favour). You are supposed to declare this but the reality is that it is impossible for the bank to keep a check, and you will probably be under the annual threshold anyway - which has just increased but don't ask me how much it is at the moment.
Or you could send it to me, and I'll post the equivalent amount in zim Dollars to an address of your choosing.
Oct 13th 2009, 12:20 pm
#6
Just Joined
Thread Starter
Joined: Jan 2008
Posts: 8
Re: Transferring money from South Africa to UK
Rennies foreign exchange are very good - used them a few times and no problems. Are you now in the UK? You might need to be here to sign documentation - they normally ask to see you in person due to forex regulations. (copy of passport etc). Cost is about 3% of the total - so it can be quite expensive depending on how much you want to transfer.
The alternative is to just draw it from a bank in the UK using an SA ATM card (obviously this takes a long time depending on your daily limit - but if the rand devalues as everyone expects it to, it might work in your favour). You are supposed to declare this but the reality is that it is impossible for the bank to keep a check, and you will probably be under the annual threshold anyway - which has just increased but don't ask me how much it is at the moment.
Or you could send it to me, and I'll post the equivalent amount in zim Dollars to an address of your choosing.
The alternative is to just draw it from a bank in the UK using an SA ATM card (obviously this takes a long time depending on your daily limit - but if the rand devalues as everyone expects it to, it might work in your favour). You are supposed to declare this but the reality is that it is impossible for the bank to keep a check, and you will probably be under the annual threshold anyway - which has just increased but don't ask me how much it is at the moment.
Or you could send it to me, and I'll post the equivalent amount in zim Dollars to an address of your choosing.
