Best Foreign Exchange Provider in South Africa

FNB has been globally recognised as the Best Foreign Exchange Provider in South Africa for the fourth year running in the annual World's Best FX Provider awards hosted by Global Finance Magazine.

The winners were selected from 113 countries using criteria which includes transaction volumes, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.

Global Finance also considered input from industry analysts, corporate executives and technology specialists.

Investing abroad - Forex - FNB

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For My Business

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What is a SWIFT code?

The Society for Worldwide Inter-bank Financial Telecommunication (SWIFT) is an electronic communication method used by banks all over the world to correspond with each other in a secure and standardised way. SWIFT transfers are secure, standardised, relatively inexpensive and extremely quick.

If you are unsure of the SWIFT code, simply select Foreign Bank Search while capturing your Global Payment application.


When entering the SWIFT code, please make sure that all the letters are in uppercase.

South African Exchange Control Requirements

All foreign exchange transactions in South Africa are subject to exchange control regulations, governed by the South African Reserve Bank. In accordance with compliance and as an authorised dealer, we provide you with the rules applicable to South African residents travelling abroad . Full details can be found on the South African Reserve Bank's website.

Rules for South African residents travelling abroad

  • Foreign currency for travel purposes may not be bought more than 60 days prior to the departure of the traveller.
  • Travel allowance covers a calendar year (1 January - 31 December)
  • Any unutilised portion of a travel allowance must be resold to an authorised dealer within 30 days of your return. You may however, reapply for the unused portion of your discretionary allowance at any time during the calendar year.
  • A South African resident over the age of 18 is entitled to a single discretionary allowance of up to R1 million per calendar year. The single discretionary allowance may be used for any legal purpose abroad (including for investment purposes). This dispensation may be utilised solely at the discretion of the resident without any documentary evidence having to be produced to the authorised dealer except for travel purposes outside the Common Monetary Area where a passenger ticket needs to be produced.
  • Children under the age of 18 years qualify for a travel allowance of R200 000 per calendar year. For travel purposes, a valid travel document must be presented, indicating that the journey commences from South Africa. Allowance may not be issued more than 60 days prior to departure.
  • The costs of land arrangements (hotels, cruises, tours, etc.) are deductible from a travel allowance, except the payment of airfares in rands.
  • In addition, each traveller may take R25 000 in South African Reserve Bank bank notes when visiting abroad.
  • Where the insurance value of your personal belongings not for sale, exceeds R50 000, you will need a NEP form attested by a bank or by Customs and Excise. Please enquire at your nearest FNB branch should you need this form.

SA's Best Foreign Exchange Provider for 4 years running*

Foreign investments made easy

FNB Forex simplifies the process of sending funds abroad for foreign investment purposes. Individuals now have the ability to access the international markets, so if you wish to diversify your savings you can make use of your foreign investment allowance.

*Global Finance World's Best FX Providers 2017 - 2020

What you get

Simplified offshore investing

As a South African resident over the age of 18 years, you can invest offshore using the Single Discretionary Allowance of R1 million, as well as the Foreign Investment Allowance of up to R10 million per calendar year (1 January - 31 December). We will simplify this process. Let us do your forex transfers for you, or invest in one of our Global Accounts which holds your money in foreign currency until you have decided on the best offshore investment for your needs.

  • Facilitate your transfer abroad online anytime, anywhere, 24/7/365.
  • We will provide you with expert guidance and assistance from an exchange control point of view.
  • FNB Forex will process your payment electronically via SWIFT ensuring that your funds reach their destination safely and securely.
  • Let us verify all documents and process the payment with an exchange rate that best suits you.
  • Make use of our hedging solutions to protect you against exchange rate fluctuations.
  • Earn up to 50% back in eBucks on the transaction charges when making a payment in foreign currency via Online Banking or the FNB App on your smartphone.

How it works

Foreign investment options

You have the option to invest funds abroad making use of the R1 million Single Discretionary Allowance, or the Foreign Investment Allowance for investments of up to R10 million using one of the following channels.



How to make a global payment online

Read more


How to make a global payment on the FNB Banking App

Read more

Getting it made easy

Investing abroad

Qualifying criteria

  1. A South African resident
  2. A tax payer
  3. 18 years or older
  4. The holder of a qualifying FNB Cheque Account in good standing

Ways to apply

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Other ways to apply

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Documents needed

  • If you simply want to start investing your funds abroad every month, you can make use of your R1million single discretionary allowance; without having to provide a Tax Clearance Certificate! (Remember, when managing your limit this allowance covers travel, gifts and a number of other types of transactions including investment.)
  • Should the R1million not be sufficient, you can also make use of your R10million foreign investment allowance; with the relevant tax clearance certificate.

Original supporting documentation to be delivered to your local FNB branch, Private Banker, or couriered to the FNB Forex offices.