Moving Money from SA --> UK, is it really so hard?
 

Hi Everyone,

I've just moved to the UK (about 6 months ago) and I'd like to send across some funds from my FNB account to my Barclays account.

At first, I wanted to take out my ZAR and deposit it into a ZAR based account here in the UK and then do the conversion to GBP-- that would give me the best exchange rate. FNB told me this was not legal as ZAR cannot leave SA and needs to be exchanged domestically-- a legality that the domestic banks use to their full advantage by setting huge spreads on their exchange margins.

My next idea was to do a forex payment but due to the fact that I left SA in 2014, I'm not eligible to do this without a tax clearance certificate (which requires me to personally visit a SARS branch anyways, alternatively I need to courier a certified copy of my ID doc to SA and sign a letter letting someone apply for the tax clearance certificate on my behalf.

This above is a #proudlysouthafrican scenario that boggles the mind.

Is there anyone that can give me any tips on what has worked for them?? What is the easiest way (cost and time efficient) to send money from SA to the UK?

Many thanks!!

Re: Moving Money from SA --> UK, is it really so hard?
 

I gave my sister in law my power of attorney. Got a tax clearance certificate and took some of my money with me in travellers cheques but the large bulk of it had it made out to me in pounds from bank on one of their cheques I think. All a bit foggy as it was years ago in 1998. I do know the tax clearance was crucial to getting my money out. They were also stricter then as well. Any dealings I needed to do with bank afterwards my sister in law just dealt with.

Re: Moving Money from SA --> UK, is it really so hard?
 

Use your ATM card and just draw it from a hole in the wall. By far the easiest way, not necessarily the cheapest.