Investing
Sep 12th 2013, 3:06 pm
#16
BE Forum Addict
Joined: Feb 2005
Posts: 1,881
Re: Investing
Well all this is a predictable mess. No surprise there. And we haven't even got to the problems with PR.
If others want to avoid this kind of thing, I recommend using your UK debit and/or credit card in SA (which you can do without a problem, both for purchases and cash withdrawals) until such time that your position in SA is clearly regularised and you know exactly where you stand.
As for investments, it should go without saying that the SA Rand is not a good investment. The exchange rate may bob around in the short term, but longer term it is going the same way as the SA economy.
If others want to avoid this kind of thing, I recommend using your UK debit and/or credit card in SA (which you can do without a problem, both for purchases and cash withdrawals) until such time that your position in SA is clearly regularised and you know exactly where you stand.
As for investments, it should go without saying that the SA Rand is not a good investment. The exchange rate may bob around in the short term, but longer term it is going the same way as the SA economy.
Sep 12th 2013, 3:38 pm
#17
.
Joined: Apr 2007
Location: Home, I think.
Posts: 9,217
Re: Investing
Well all this is a predictable mess. No surprise there. And we haven't even got to the problems with PR.
If others want to avoid this kind of thing, I recommend using your UK debit and/or credit card in SA (which you can do without a problem, both for purchases and cash withdrawals) until such time that your position in SA is clearly regularised and you know exactly where you stand.
As for investments, it should go without saying that the SA Rand is not a good investment. The exchange rate may bob around in the short term, but longer term it is going the same way as the SA economy.
If others want to avoid this kind of thing, I recommend using your UK debit and/or credit card in SA (which you can do without a problem, both for purchases and cash withdrawals) until such time that your position in SA is clearly regularised and you know exactly where you stand.
As for investments, it should go without saying that the SA Rand is not a good investment. The exchange rate may bob around in the short term, but longer term it is going the same way as the SA economy.
Sep 12th 2013, 4:35 pm
#18
BE Enthusiast
Joined: Dec 2007
Posts: 508
Re: Investing
Martyn, non residents used to be allowed to open a bank account in SA but I have been told by all the banks I went into that since the new FICA rules it is not allowed.
Even if I am granted the permanent residence permit I have been told that I will still need to show them payslips. I have explained that I am living off the proceeds from the sale of my property and wont have any payslips.
It's not just one or two banks that told me this but all I have been into, I also tried 3 more yesterday in a different mall with the same result.
Even if I am granted the permanent residence permit I have been told that I will still need to show them payslips. I have explained that I am living off the proceeds from the sale of my property and wont have any payslips.
It's not just one or two banks that told me this but all I have been into, I also tried 3 more yesterday in a different mall with the same result.
The payslip issue still puzzles me. Lots of people in SA have bank accounts, and don't recieve payslips. I'm one of them!
Sep 13th 2013, 8:47 am
#20
BE Enthusiast
Joined: Jul 2007
Location: Wellington, New Zealand
Posts: 389
