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transferring money across


ZahedaC

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How best to transfer money without financial emigration?

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Hi

 

You don't need to financially emigrate in order to transfer money overseas. If you have  bank account in Australia, you can transfer money to it using either third party solutions or your local bank. Each have their own pro's and con's and there are a few threads on this forum that discuss this.

However, please note that if you transfer anything over R1 million rand per year, that you will need to engage with SARS for some clearance certificates. 

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I just transferred money using Exchange4Free, it was easy and quick. My bank in SA (Investec) charges quite a bit for a transfer, Exchange4Free does it effectively for free so it was an easy decision.

 

But yes @FingersCrossed is right about the SARS implications. 

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