Foreign Exchange
 

Foreign Exchange

For private clients

If you want to invest internationally, make payments overseas, receive money from offshore or need foreign currency to travel, Investec can assist with all your foreign exchange requirements. 

Three channels to send money offshore

  • The global Client Support Centre
  • Your private banker 
  • Investec Online which features a new international payment functionality, with real-time exchange rates, to complete the international payment

Get currency easily

  • Order foreign exchange within 60 days of your departure
  • We’ll deliver it within 48 hours or have it waiting for you at ORT
  • Use your Investec Visa card at retailers worldwide and withdraw cash at any Visa ATM

 

Assistance with SARB allowances

We can assist you with your application to SARB for allowance extensions, including your foreign investment and single discretionary allowances. 

Receive money from abroad easily

If you're receiving money from overseas, we can facilitate the transfer of your funds from a foreign country into your Investec Private Bank account, conveniently and efficiently.

zero

Investec will not charge you any extra fees for using your Investec Visa card for purchases or ATM withdrawals when overseas.

10

Our fraud rate and credit decline is approximately 10 times less than the Visa industry average.

48

The average number of hours it takes for you to receive your travel currency, from time of order.

 ‘I am so impressed with the online payment functionality. Not only had someone preloaded the beneficiary 100% correctly for me, the functionality was intuitive and the entire transaction was concluded with no issues.’

Cecilia, Private Banking client

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New international online payment process

  • View all your pending payment instructions, status and expiry dates in the table at the top of your international payments page
  • Accept a live rate of conversion that refreshes at 10 second intervals to complete the payment
  • View the transaction amount and associated fee
  • View all beneficiary and payment steps in the audit trail
  • Be notified at each step of the payment process via SMS and email

With enhanced functionality, you can still:

  • Submit an offshore payment instruction with Balance of Payment (BoP) codes
  • Add, edit and delete international beneficiaries
  • Upload supporting documents required to make the payment
  • Search for international bank details and SWIFT/BIC codes

Download important documents

If you plan on receiving money from abroad you will need to give the sender of the funds Investec’s SWIFT/BIC code. Please download here:

Annual allowances

Expand your investment portfolio internationally by using your foreign allowance of R10 million. This is an annual allowance for all SA citizens. Use your annual R1 million single discretionary allowance for travel, investment, monetary gifts, loans and subsistence for students studying abroad (and other uses).

Moving funds abroad

If you're moving to another country, we can assist and guide you in your Exchange Control application to the Reserve Bank, and move your funds offshore.

Omnibus facilities

Let us assist you with omnibus facilities for business and corporate travel. This facility ensures that an individual’s personal allowance isn’t affected when travelling for business. 

International transfers and receipts
Effective from 1 August 2017

All payments Fee % (applied to the Rand value of the deal) Min fee (incl. VAT) Max fee (incl. VAT)
Making/receiving a payment in Currency 0.55% R 175 R 700
Making/receiving a payment in Rand 0.65% R 175 R 700
All payments Making/receiving a payment in Currency
Fee % (applied to the Rand value of the deal) 0.55%
Min fee (incl. VAT) R 175
Max fee (incl. VAT) R 700
All payments Making/receiving a payment in Rand
Fee % (applied to the Rand value of the deal) 0.65%
Min fee (incl. VAT) R 175
Max fee (incl. VAT) R 700

Fees are calculated as a percentage of the Rand value of the deal subject to the minimum fee and limited to the maximum fee as indicated above

Additional fees

Additional fees Conditions Fee (incl. VAT)
Rand transaction fee Fee levied on Rand deals irrespective of SWIFT instruction R 175
Offshore change for outward payments Fee levied should the client request Investec to pay for offshore bank charges R 175
Returned/ Incorrect payment Fee levied on payments where the wrong details have been used R 230
Additional fees Rand transaction fee
Conditions Fee levied on Rand deals irrespective of SWIFT instruction
Fee (incl. VAT) R 175
Additional fees Offshore change for outward payments
Conditions Fee levied should the client request Investec to pay for offshore bank charges
Fee (incl. VAT) R 175
Additional fees Returned/ Incorrect payment
Conditions Fee levied on payments where the wrong details have been used
Fee (incl. VAT) R 230

Travel Currency

Option Type Fee % (incl. VAT) Min fee (incl. VAT)
Cash (foreign notes) Buy or repurchase 2.17% (incl. VAT) R 160
Option Cash (foreign notes)
Type Buy or repurchase
Fee % (incl. VAT) 2.17% (incl. VAT)
Min fee (incl. VAT) R 160

Fees are calculated as a percentage of the Rand value of the deal subject to the minimum fee

Contact our global Client Support Centre available 24/7/365