Opening non-resident RSA account

[Garrick]

Hi all,

I have an Old Mutual investment that needs to be paid out. But OM won't pay to my Aus account and since we don't live in SA, I can't exactly meet the FICA requirements to open an account from here in Aus.

Anyone have experience with this? Are we able to open accounts in the same way we did it for Aus?

-G

[Garrick]

Seems I found my own answer.

I'm guessing every bank has something like this:

https://www.fnb.co.za/foreign/non-resident-cheque-account.html

-G

[RichardH]

We used this lady at FNB about 3 years ago:

She opened the account and took care of everything except the tax clearance for emigration which we got from Anita Huyser at Exchange4free Foreign Exchange Services.

Zenda Grobler
Branch Manager
Non Resident Centre
FNB Business Banking
9th Floor, FNB Place, 30 Diagonal Street, Johannesburg, 2000
Tel (+27) (0)11 - 352 5025, Fax (+27) (0)11 - 3717621,
e-mail zgrobler@fnb.co.za

It's a long drawn out process, but with enough nagging phone calls it is possible.

This in my opinion ranks a distant second to cancelling TV licences in Emigration 101 :-)

Good luck

[bbop]

We used Cashcows to do all our official emigration arrangements. Zenda is great. She still handles all our requests for our blocked account at FNB.

[Hugo2]

inbox me and I will assist no formal emigration is required and no traditional bank account is required

[McCabes]

not sure if this would work?

https://www.fnb.co.za/travel-products/global-acc.html

[Shampoo]

Cashkows, Exchange4free and FNB will probably do a Tax Clearance for Emigration process for you and this can be quite expensive. Rather contact Hugo above.

[Garrick]

Hi there. Will message you shortly Hugo. I think people misunderstood. I'm not yet emigrating. This is purely about getting OM to pay the money out SOMEWHERE. The account has to be in my name to do that and so far looks like they will only pay out to an RSA account.

Sorry. I realised my own misunderstanding of 'non-resident' probably lead to some confusion. I've been told I am still a resident.

-G

Edited February 3, 2015 by Garrick

[TanyaVDWesthuizen]

Hi Garrick,

We can assist you with an account with INVESTEC

Thanks

[Kanniewagnie]

Hi, I'm curious, is it possible to immigrate financially if we still have an Absa or Investec investment account with monthly interest going into our cheque account? We then have debit orders against the cheque acc to pay my MIL old age home, her vehicle insurance and a life ins policy.

We also have RA's which were already cancelled, and we know Cashkows can assist with the payout of the RA to our Oz account if we financially immigrate.

But is it possible to immigrate financially with above mentioned scenario in order to still provide for my MIL?

[Shampoo]

You do not need to formally emigrate to get your pension/RA money out any more. Getting income out may be a problem but as you said, you are paying for your MIL so you can use your income for this.