elleneo Posted July 25, 2015 Report Share Posted July 25, 2015 (edited) I would like to send some money back to South Africa to my mom to buy me a few things before her visit later this year, what is the best way to do this? Edited July 25, 2015 by elleneo Quote Link to comment Share on other sites More sharing options...
Mara Posted July 25, 2015 Report Share Posted July 25, 2015 With ANZ you can do it online, costs $22 per transfer, although the last transfer I made was a while ago, price may have changed.I am sure most of the other banks have the same facility! Quote Link to comment Share on other sites More sharing options...
elleneo Posted July 25, 2015 Author Report Share Posted July 25, 2015 Thanks Mara, I was wondering if anyone had used other companies/facilities like those in the 7-elevens or online companies? Quote Link to comment Share on other sites More sharing options...
zoot Posted July 26, 2015 Report Share Posted July 26, 2015 Not sure how much you had in mind could look at exchange for free or cashkows. Western union is a nightmare. 1 Quote Link to comment Share on other sites More sharing options...
ericks Posted July 26, 2015 Report Share Posted July 26, 2015 Hi, I send money to ZA quite often with "WorldRemit". They are great... 1 Quote Link to comment Share on other sites More sharing options...
mrniceguy Posted July 26, 2015 Report Share Posted July 26, 2015 Yep, "WorldRemit" are way better than the banks here. Also remember, you need to supply a phone number and contact details for the person you are transferring to so that the banks in ZA can phone and ask if they know you (ZA Law).So I transfer money to my own ZA bank accountput my details as the contactI get phonedand asked by name whether I know meOf course I dook....And you wonder why...but that's ZA 1 Quote Link to comment Share on other sites More sharing options...
Nev Posted July 27, 2015 Report Share Posted July 27, 2015 I have a standing order setup with my own personal bank account in RSA (At absa)Do a bank transfer from CMB here, 3 days later the money is in my account in RSA, then i transfer to to where it needs to go from there. Quote Link to comment Share on other sites More sharing options...
mlothian Posted July 27, 2015 Report Share Posted July 27, 2015 There are some other alternatives too. Have a look at the option of Currency Online.www.randrescue.com/forex.Very low fees and Rand Rescue would assist you with any problems along the way. Quote Link to comment Share on other sites More sharing options...
Hugo2 Posted July 27, 2015 Report Share Posted July 27, 2015 Hi to allNev's option is excellent specially if you do it every monthBest is to use one of the known SA groups, Forexcapital or Currency AssistWhy the questions on fund arrival in SA: There are specific rules that allow you to extract funds sent to SA, from SA without tax clearanceSo: Elleneo, if you can transfer to your own account, as you are then protected and can take funds out of SA next time you have excess cash. If no SA bank account transfer to your mother but ensure you use one of the locals as they understand our rules. It will save your Mom SARs questions on donations tax. As a rule there is no donations tax in SA on funds coming in from outside SA, in your case it is not a donation, you are paying a debt off as your Mom is buying you some goodies ie you owe her the funds. Answers to the "silly" phone call far more important than understood at the time of the call 1 Quote Link to comment Share on other sites More sharing options...
elleneo Posted July 27, 2015 Author Report Share Posted July 27, 2015 I want to transfer some money to my mother. I dot have a South African bank account anymore. If I use world remit will the bank In South africa deduct a fee when my mother collects it? Quote Link to comment Share on other sites More sharing options...
BronPreston Posted July 27, 2015 Report Share Posted July 27, 2015 I would like to send some money back to South Africa to my mom to buy me a few things before her visit later this year, what is the best way to do this?Hi there,Please consider Exchange4free. We cover all receiving fees often paid by recipients.We charge ABSOLUTELY NO Commissions or FEES. You will only pay the exchange rate difference and we strive to live up to our Best Price Guarantee Policy!You can register directly on our website in as much time as it will take to make a cup of tea www.exchange4free.comPlease let us know if you would like a consultant to contact you? Quote Link to comment Share on other sites More sharing options...
elleneo Posted July 29, 2015 Author Report Share Posted July 29, 2015 Thanks guys, it would only be a small amount. Quote Link to comment Share on other sites More sharing options...
ericks Posted July 29, 2015 Report Share Posted July 29, 2015 My mum receives the bulk of what I send. If there is a fee at the ZA bank then its very small.. Quote Link to comment Share on other sites More sharing options...
dme Posted August 11, 2015 Report Share Posted August 11, 2015 Is it not possible to offer to transfer money for people on their behalf in South Africa, if they in turn put money into your Aus bank account? I suspect there is some legality that prevents this, but it does seem mutually benificial? 1 Quote Link to comment Share on other sites More sharing options...
RedPanda Posted August 11, 2015 Report Share Posted August 11, 2015 @dme,I think if the amounts stay small then there is nothing really preventing this. But if you start doing it too often, or the amounts get big then you'll probably run into legal trouble. Quote Link to comment Share on other sites More sharing options...
AfriAus Posted August 17, 2015 Report Share Posted August 17, 2015 Yep, "WorldRemit" are way better than the banks here. Also remember, you need to supply a phone number and contact details for the person you are transferring to so that the banks in ZA can phone and ask if they know you (ZA Law).So I transfer money to my own ZA bank accountput my details as the contactI get phonedand asked by name whether I know meOf course I dook....And you wonder why...but that's ZA Do you get charged any fees by your receiving South African bank? Many of these online companies advertise no fees but South African banks charge a fee to receive forex. Quote Link to comment Share on other sites More sharing options...
BronPreston Posted September 3, 2015 Report Share Posted September 3, 2015 Exchange4free can help you out no matter what amount you woukld like to send! Quote Link to comment Share on other sites More sharing options...
tcmiller Posted January 26, 2016 Report Share Posted January 26, 2016 On 27/07/2015 at 3:19 AM, Nev said: I have a standing order setup with my own personal bank account in RSA (At absa) Do a bank transfer from CMB here, 3 days later the money is in my account in RSA, then i transfer to to where it needs to go from there. Are you not required to phone ABSA to get them to release the funds? I was at ABSA this morning and this is the info I was given. I'm assuming you need to have a cellphone and some way of getting the RVN messages? Or am I incorrect? Quote Link to comment Share on other sites More sharing options...
Nev Posted January 29, 2016 Report Share Posted January 29, 2016 Not sure if we missing each other, i am transferring the money from my bank in Australia to ABSA in RSA, normally there would need to be an authorisation process before the money shows up in the ABSA account, however the standing order means this is not the case. As a separate issue when i want to create a new beneficiary on my ABSA account i do need and get the RVN number, i have just had them use my Australian Cell number, so it appears on me cell here in Auz, and the rest is as normal 1 Quote Link to comment Share on other sites More sharing options...
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