Help & Advice

Sending Money to South Africa

If you need to make payments to South Africa, Currency Index can save you time and money.

Call our experienced dealing team on 0800 043 2623 (+44 1923 777 562 from abroad) to discuss your money transfer to South Africa, or click here to open a trading facility without any cost or obligation.

Sending Rand to South African bank accounts via a 'Swift' transfer usually takes no more than 24 hours from the UK.

To make a transfer to a South African bank, you will need the following information;

Account Number
BIC (Bank Identifier Code) or SWIFT code
Name of Beneficiary (and address if you have it)
Name of Bank (and address if you have it)
Any other routing instructions (eg, send via a particular routing bank)

The BIC (Bank Identifier Code) or SWIFT code are made up of 8 or 11 characters and should mirror the following format;

South African BIC or SWIFT code Format: BBBBCCLL or BBBBCCLLDDD

B = Bank Code (Only Letters)
C = Country Code 'ZA' (Only Letters)
L = Location Code (Letters & Digits)
D = Branch Code Optional ('XXX' for Head Office - Letters & Digits)

South African Bank Charges

South African Bank charges for incoming international transfers range from zero to around 300 ZAR, depending on the receiving and routing banks. Currency Index Ltd has no control of these charges.

To access our live Rand exchange rates, you will need to open an account, for which there is no cost or obligation. Our friendly, experienced staff will guide you through every step of the process, with one point of contact from start to finish.

Our exchange rates are based on the interbank level – the mid-market price at which banks buy and sell from each other. Currency Index Ltd will offer currency rates for your money transfer based on this rate, along with the volume you are trading, and prevailing market conditions.