Send Money To South Africa

Updated on September 13, 2020
Personal
Business
From
United States Flag
United States
USD
To
South Africa Flag
South Africa
ZAR
1 USD equals
16.728 ZAR
09/13/2020 5:19 PM UTC
 
How much to transfer?
$1-1k
$1k-10k
$10k +
Provider
Features
Fees
Score
Speed
Transfer Now
OFX Logo
  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers
$
$
$

low

Fees
87
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank transfer
  • Debit card (UK only)
  • BPAY (Australia only)
  • Direct debit (U.S. only)

Features

  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for personal transfers
  • Circle Check Icon
    Get competitive exchange rates
  • Circle Check Icon
    Lets you schedule transfers with ease
  • Circle Check Icon
    Trading in some currencies possible only over the phone
  • Circle Check Icon
    Website access only in English

TorFX Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents
$
$
$

low

Fees
72
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank transfer
  • CHAPS (UK only)
  • BACS (UK only)
  • Visa debit card (UK only)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for one-off transfers
  • Circle Check Icon
    Schedule transfers between £500 and £10,000 per month
  • Circle Check Icon
    Use hedging tools to protect yourself against FX fluctuations
  • Circle Check Icon
    No multilingual website

XE Money Transfer Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service
$
$
$

low

Fees
74
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank Transfer
  • BPAY (Australia)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    No fees for personal transfers
  • Circle Check Icon
    Accepts payments in several currencies
  • Circle Check Icon
    Target specific rates using limit orders
  • Circle Check Icon
    No debit or credit card payments
  • Circle Check Icon
    No scheduled transfers

WorldRemit Logo
  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website
$
$
$

medium

Fees
63
Speed Icon

fast

1-2 days

Less Information
+

Transfer Options

  • Bank Transfer
  • Debit / Credit card
  • Google / Apply Pay
  • POLi (Australia)

Features

  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

medium

Fees
Speed Icon

fast

1-2 days

Best For

  • Circle Check Icon
    Transfers to cash pickup locations
  • Circle Check Icon
    Transparent rates and fees
  • Circle Check Icon
    Low minimum transfer amount
  • Circle Check Icon
    No hedging tools
  • Circle Check Icon
    No scheduled transfers

Payoneer Logo
    $
    $
    $

    high

    Fees
    71
    Speed Icon

    medium

    2-3 days

    Less Information
    +

    Transfer Options

    • Bank transfer
    • Debit card
    • Credit card
    • Bank debit

    Features

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      high

      Fees
      Speed Icon

      medium

      2-3 days

      Best For


      Currencies Direct Logo
      • Check Icon
        Forward contracts and limit orders
      • Check Icon
        Scheduled transfers
      • Check Icon
        Travel money solutions for residents of the UK
      • Check Icon
        Multilingual website
      $
      $
      $

      low

      Fees
      84
      Speed Icon

      medium

      2-3 days

      Less Information
      +

      Transfer Options

      • Bank transfer
      • Debit card

      Features

      • Check Icon
        Forward contracts and limit orders
      • Check Icon
        Scheduled transfers
      • Check Icon
        Travel money solutions for residents of the UK
      • Check Icon
        Multilingual website

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      medium

      2-3 days

      Best For

      • Circle Check Icon
        Schedule transfers easily
      • Circle Check Icon
        Make use of hedging tools
      • Circle Check Icon
        Accepts customers from most countries
      • Circle Check Icon
        Cannot sign up from all states in the U.S.

      TransferWise Logo
      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app
      $
      $
      $

      low

      Fees
      75
      Speed Icon

      fast

      1-2 days

      Less Information
      +

      Transfer Options

      • Bank Transfer
      • Credit Card
      • Debit Card
      • Country specific alternatives

      Features

      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      fast

      1-2 days

      Best For

      • Circle Check Icon
        User friendly mobile app
      • Circle Check Icon
        Multi-currency account
      • Circle Check Icon
        Travel debit card
      • Circle Check Icon
        No scheduled transfers
      • Circle Check Icon
        No dedicated account manager

      How to send money to South Africa

      How To Step Icon
      Step 1
      Evaluate your options, sign up
      Evaluate your options, sign up
      Evaluate the best companies that send money to South Africa as they are all different.
      Make a selection after you have compared your options.
      Provide the required information to sign up as an individual or a business.
      Give details from an ID document such as a passport or driver's license to complete the account opening process.
      How To Step Icon
      Step 2
      Check exchange rates, confirm your transfer
      Check exchange rates, confirm your transfer
      Take a look at any recent ZAR exchange rate fluctuations to determine if you want to proceed with transfering money to South Africa.
      You will get a rate quote from your service provider by entering the desired transfer amount.
      To confirm the transfer, lock in the exchange rate on offer.
      Enter the recipient's local bank account details.
      How To Step Icon
      Step 3
      Make payment, wait for the transfer to complete
      Make payment, wait for the transfer to complete
      Check the payment methods on offer, and make your payment.
      Your service provider will send money to South Africa only after this step is complete.
      You get an indication of the estimated turnaround time in advance.
      Most companies let customers track their transfers. This can be via updates on their websites as well as notifications via emails and text messages.

      Currency Symbol and Swift Codes

      The South African rand (ZAR) is the official currency of South Africa. It is also used as legal tender in Lesotho, Namibia, and Swaziland, given their link to South Africa through the Common Monetary Area. All three countries have their own currencies too. One rand is divided into 100 cents.

      If you plan to send money to a South African bank account you will need to bank’s SWIFT code. The corresponding table lists SWIFT codes of some prominent banks in South Africa.

      BANKBRANCHSWIFT CODE
      Standard BankJohannesburgSBZAZAJJAFR
      ABSA BankJohannesburgABSAZAJJTRS
      FirstRand BankJohannesburgFIRNZAJJRSL
      NedbankSandtonNEDSZAJJXXX

       

      Case Study

      Chris planned to travel from the United Kingdom to South Africa with his wife for a holiday. After he found a suitable hotel, he contacted it directly to check if he could get a discount. He also wanted to pay for their stay in advance, while he was still in the UK. The hotel gave him a discount as well as the ability wire the money directly into its South African bank account. He compared his options before making the transfer, and this is what he found.

       BANKMONEY TRANSFER SERVICE
      Exchange rateGBP 1 = ZAR 16.0769GBP 1 = ZAR 16.8055
      Transfer feeGBP 15GBP 0
      Amount received for GBP 3,500ZAR 56,028.00ZAR 58,819.25
      Transfer time2 to 5 days1 to 3 days
      Transfer optionsBank accountBank account
      Difference of ZAR 2,791.25

      Chris was required to pay a total of ZAR 65,000 for the stay, and he paid a significant portion of it from the UK. By choosing the money transfer company instead of the bank, he ended up saving close to ZAR 2,800.

       

      Cash Pickup Locations in South Africa

      To send money to South Africa quickly, consider using the services of companies that have offices or agent locations in the country. Some of your options include WorldRemit, Western Union, and MoneyGram.

      WORLDREMIT IN SOUTH AFRICA 
      Johannesburg Makuru Shop 6A, Kempton Place 12 Pretoria Park JohannesburgMakuru Shop F04 International Arrivals O.R Tambo International Airport Jonanesburg
      Cape Town Makuru Shop G08, Clock Tower Victoria and Alfred Waterfront Cape TownMakuru Shop G7, Mutual Height Building 102 Longmarket Street Cape Town CBD
      WESTERN UNION IN SOUTH AFRICA 
      Johannesburg Master Currency Shop 115, Upper Level, Nelson Mandella Square Sandton JohannesburgMaster Currency Shop 225, Rosebank Mall Rosebank Johannesburg
      Cape Town Master Currency Suite 1816, 18th Floor, Absa Building 2 Riebeeck Street Cape TownMaster Currency Shop No 5, Sanso Building Cnr Riebeeck and St Georges Cape Town

       

      Safety Tips for Picking Up Cash in South Africa

      Crime levels in South Africa are high. Thefts, muggings, carjackings, and armed assaults are reported often, especially from areas frequented by tourists. There have been instances of violent crimes involving foreigners.

      If you plan to collect a large sum of money from a cash pickup center, try to take someone trustworthy along. Avoid withdrawing or changing large sums of money in crowded areas. Do not display large sums of money and expensive jewelry, phones, or cameras.

      There is a significant rise in crimes after dark, especially in and around major townships city centers. Armed robberies may take place in malls too. If confronted by an armed robber, it is in your best interest to comply.

      When driving, be particularly watchful at stop signs, traffic lights, yield signs, as well as highway off-ramps. Make sure the windows are rolled up and the doors are locked at all times. Park your vehicle in well lit areas.

       

      What Information Do I Need to Transfer Money to South Africa?

      The information you need to provide when transferring money into South Africa depends on the mode of transfer you select.

      • To a bank account. The service provider you choose will need the recipient’s complete name, a bank account number, the receiving bank’s name, and the receiving bank’s SWIFT code.
      • To a cash pickup center. You will need to provide the recipient’s complete name along with the location of a cash pickup center from where the recipient plans to collect the money. The recipient may collect the transferred funds by presenting a transaction number and a valid form of ID.

       

      Regulations When Transferring Money To and From South Africa

      The South African rand is a free-floating fully convertible currency so you may transfer it in or out of the country with ease.

      The South African Reserve Bank (SARB) functions as the country’s central bank and its financial regulator. The bank enforces restrictions on cross-border fund transfers to prevent money laundering and to regulate inflow and outflow of money to and from the country. If you wish to carry out a forex transaction, you are required to use the services of brokers that are registered as Financial Services Providers (FSPs) with SARB.

      Locals require clearance from South African Revenue Services (SARS) if they plan to transfer any amount more than one million rand. As a non-resident, you may retrieve any amount of money transferred into the country, provided you have proof surrounding the original transfers.

      When entering South Africa, you may carry up to ZAR 25,000 in cash. If you are bringing in other currencies, the total may not exceed U.S. $10,000 or its equivalent. If you carry more than these amounts, you will need to declare it upon arrival.

      Convert USD to ZAR

      Check out the historical exchange rates for the last thirty days. Learn how much you can save by using a global money transfer company instead of the big banks.
      USD
      ZAR
      Sending money online through specialist money transfer companies.

      Expect to receive between R1656.09 and R1666.13 when sending money from USD to ZAR at today's exchange rate.

      Compare that to sending money overseas through retail banks. Expect to receive approximately R1589.18, not including additional banking fees. That is an average saving of R71.93.
      Currency exchange rate in the last 30 days

      Need more information?

      Read useful guides on international remittance and more detailed reviews on the best money transfer services.

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