BarryHeyns Posted November 7, 2017 Report Share Posted November 7, 2017 Good day I have opened a bank account in Aus and would like to start transferring cash over. I am making payments from my bank this side (Investec) directly into the CommBank account we opened, I need to enter a BoP code, not sure which to use? I know we have the $1m discretionary allowance, can someone please advise what the correct code is? I am paying over $20,000 now which is well below the $1m threshold. Quote Link to comment Share on other sites More sharing options...
LM17 Posted November 7, 2017 Report Share Posted November 7, 2017 hi Barry, I would check with Investec, BOP codes are used by Reserve bank to track our outflows. There are different codes for Annual allowances, formal emigration, holiday money transferred etc. As a side note how did you open the Bank account? , online? We have our 189 VISAs and we will be going for a holiday in Feb and for good later in 2018, but I would like to start moving cash across in the meantime Thanks mate Quote Link to comment Share on other sites More sharing options...
MichKen Posted November 8, 2017 Report Share Posted November 8, 2017 @BarryHeyns I have the same question! I called Std Bank and was told they are not allowed to tell me which code to use....! Not very helpful I’m afraid. I am not formally emigrating so I’m not sure if I should use the overseas travel option. So far I have sent smaller amounts of money to hubbys account calling it a gift, because it just seemed simpler. Don’t think that’s going to work all the way through though as I’m sure there may be other implications to that. Quote Link to comment Share on other sites More sharing options...
BarryHeyns Posted November 10, 2017 Author Report Share Posted November 10, 2017 On 11/8/2017 at 10:35 PM, MichKen said: @BarryHeyns I have the same question! I called Std Bank and was told they are not allowed to tell me which code to use....! Not very helpful I’m afraid. I am not formally emigrating so I’m not sure if I should use the overseas travel option. So far I have sent smaller amounts of money to hubbys account calling it a gift, because it just seemed simpler. Don’t think that’s going to work all the way through though as I’m sure there may be other implications to that. I got the correct code, it's 512/04 Quote Link to comment Share on other sites More sharing options...
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