Foreign Exchange Transaction
The Group, through its associate company, has been appointed as a foreign exchange intermediary by the South African Reserve Bank. This enables us to assist in the exchange of forex for the following type of transactions at preferential rates:
- Individuals using their travel allowance of R1m or their offshore investment allowance of R10m
- Companies involved in the import and export of goods that receives or make payments in foreign currency. We can also provide Forward Cover with up to 1 year duration at a margin of 10%
- Individuals working ubroad and who wants to repatriate their funds.
- Funds use SA Derivatives for off-shore settlement of investments. We can also provide Forward Cover with up to 1 year duration at a margin of 10%
- Provide clear information indicating that we can dramatically undercut the banks in trading costs.
- Travel Card that can be funded directly from low cost trade done by us.
It’s like cash transport, but there are no transaction fees.