Your business deserves a Business Global Account (CFC) that enables simple import and export transactions. It's specifically designed for South African businesses involved in import and/or export transactions, as well as providers of services receiving or making regular foreign currency payments or require trade finance to facilitate transactions.
Our Business Global Accounts are elected currency denominated accounts which can be used to mitigate exchange rate risk. It is used by exporters and importers to hold foreign currency for payment of goods or receipt of funds for products supplied or services rendered.
The Business Global Account (CFC) is ideal for businesses involved in import and export transactions, such as shipping agents, freight forwarders, marine insurance, stockbrokers and other similar businesses.
We offer 30 different currencies to choose from.
Assists in hedging against exchange rate fluctuations. Exporters can also eliminate exchange risk.
Nine of the 30 currencies can be opened online for single member entities.
Can be used for bridging finance provided it is settled by means of export proceeds.
Standard FICA documentation will be required to open a Business Global Account (CFC). Quali!cation of this account
is subject to the Exchange Control Regulations broadcast in terms of section 9 of the Currency and Exchanges Act,
1933 (Act No. 9 of 1933).
Once we have received and validated the required documents, and your account was successfully vetted by Exchange Control you will be able to activate your new account by making a transfer to the account.