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Best Foreign Exchange Provider in Africa 2024

FNB has been awarded as the Best Foreign Exchange Provider in South Africa for the eighth year in a row in the annual World's Best Foreign Exchange Provider awards hosted by the Global Finance Awards.

The winners were selected from 87 countries globally using a criteria which included, but not limited to, transaction volumes, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. Global Finance magazine also considered input from industry analysts, corporate executives and technology specialists.

MoneyGram(TM) | Forex | FNB
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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.

FNB's SWIFT code is FIRNZAJJ

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

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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.

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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.

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How to do a MoneyGram Send transaction via Cellphone Banking

  1. Dial *120*321# and enter your 5-digit PIN
  2. Select Option 4 (Send Money)
  3. Select Option 2 (MoneyGram)
  4. For SA residents
    Select 1 - to send a gift, or
    Select 3 - to receive a gift.
  5. For foreign nationals
    Select 1 - to send a gift, or
    Select 2 - to send a salary, or
    Select 3 - to receive a gift, or
    Select 4 - to receive a salary.

Sending Money - MoneyGram via Cellphone Banking

You will receive the request to select your beneficiary details and follow the prompts to complete the transaction.

Receive Money - MoneyGram via Cellphone Banking

Enter the 8-digit MoneyGram reference number as received from the sender and follow the prompts to complete the transaction.

To register for Cellphone Banking
Dial *120*321#, visit any FNB branch or ATM, or call the Cellphone Banking helpline on 087 575 9405. (This service excludes Windows 7.5 - 8 operated phones.)

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How to do a MoneyGram Send transaction at an ATM

  1. Select MoneyGram Send
  2. Read and accept the MoneyGram Terms and Conditions
  3. SA residents can send and receive money as a gift (select Send Gift ). Foreign nationals can send and receive money as a salary or gift (select relevant option)
  4. Select the beneficiary
  5. Select the service option (the currency in which the beneficiary should receive their money)
  6. Select the fee option
  7. Key in the amount to be sent
  8. Select the account to send the money from
  9. Enter your cellphone number
  10. Verify the on-screen information and select Proceed
  11. The quote screen displays the exchange rate, fee and amount to be debited from your account. The quote is valid for two minutes.
  12. Select Accept .

You have completed the MoneyGram Send transaction.

You will receive an SMS with the reference number.

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Qualifying criteria

FNB qualifying account

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Documents needed

To save and register your beneficiaries at a branch, ensure you have the following documents:

  • Beneficiaries full name (As per identity document)
  • The country to which you will be sending the cash

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What you get

This is an easy and affordable, quick and convenient way to send or receive foreign currency and its speed and simplicity ensure a same-day transaction. All you need to send a MoneyGram is an FNB account - along with some money in it, of course!

  • Fast: Money is available for the beneficiary to collect within 10 minutes.
  • Simple: Simple process from sender to receiver.
  • Accessible: Encashment available at more than 350 000 MoneyGram outlet locations in 200 countries and territories worldwide.
  • Affordable: It's an affordable way to send money abroad.
  • Reliable: The sender can rest assured that the money will reach the destination.
  • Secure: Complies with international money transfer regulations.
  • Convenient: Available 24/7/365 via the FNB App, *120*321# or ATM.

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How to do a MoneyGram Send/Receive transaction via FNB App

Your beneficiaries will receive the money in the preferred currency of the country they reside/live within minutes. With the FNB App, you can choose to send money to a bank account, a mobile money wallet or send money for collection at an agent.

How to do a MoneyGram Receive transaction via FNB App

How to do a MoneyGram Send transaction via FNB App

Please note:

When receiving a MoneyGram FNB will not ask you to divulge your account details nor will we ask you to click on any links sent via email or SMS or any other method to facilitate the transaction.

When you expect to receive a MoneyGram, ask the Sender to use the 'Will Call OPTION' (over the counter option) when they are sending money to South Africa. This is the option that provides you with an 8 digit reference that the sender can then share with you as the recipient to enable you to receive the funds.

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How to add beneficiaries

When you do your MoneyGram transaction via the FNB App you can load your beneficiaries and send your MoneyGram all on the FNB App. When you use other channels to do your MoneyGram transaction such as ATM, Branch and *120*321# remember that you will need to first load your beneficiaries at an FNB Branch before you can send a MoneyGram.

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How to receive money using MoneyGram on the FNB App:

How to access MoneyGram through FNB App

  1. Log into the FNB App
  2. Click on the Forex Tab
  3. Click on Remittances
  4. Click on Receive MoneyGram

How to Receive a MoneyGram transaction

  1. Capture the MoneyGram reference received from the Sender
  2. Click on Find Transaction
  3. Complete 'Relationship to Sender' field
  4. Account to be funded can be changed
  5. Click Continue
  6. For SA Residents
    BoP code 401 (Send a Gift) will automatically display
    For Foreign Nationals
    BoP code 417 (Send a Salary) will automatically display
  7. View and/or click on the tick box to agree to the regulatory declaration.
  8. Click on Continue
  9. View and/or confirm agreement to the Terms and Conditions by clicking on the tick box
  10. Click on Continue
  11. Click on Accept to accept the quote displayed.
  12. Thank you: MoneyGram send application has been sent to the bank

An SMS will be sent to your cellphone number confirming the success of the MoneyGram transaction.

If the MoneyGram transaction was unsuccessful a message will be sent to the customer containing the FNB Forex reference number. Customer should contact 08601 36739.

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How to do a MoneyGram Send transaction via FNB App:

How to access MoneyGram through FNB App

  1. Log into the FNB App
  2. Click on the Forex Tab
  3. Click on Remittances
  4. Click on Receive MoneyGram

How to Send a MoneyGram transaction

  1. Click on the Beneficiary to whom the MoneyGram is being sent
  2. Please confirm that you want to send a MoneyGram - use the slider to confirm
  3. Select the account where funds will be withdrawn from
  4. Complete:
    • Fee Method
    • Currency
    • Amount
    • Reference
    • Promotional code
  5. Click on Continue
  6. For SA Residents
    • BoP code 401 (Send a Gift) will automatically display
    For Foreign Nationals
    • BoP code 417 (Send a Salary) will automatically display
  7. View and/or confirm agreement to the Terms and Conditions by clicking on the tick box
  8. Click on Confirm
  9. Please wait while system generates quote
  10. Click on Accept to accept the quote displayed
  11. Thank you: Send MoneyGram application has been sent to the bank. MoneyGram reference to be sent to beneficiary will appear on the screen.

An SMS will be sent to your cellphone number confirming the success of the MoneyGram transaction.

If the MoneyGram transaction was unsuccessful a message will be sent to your cellphone number with the Foreign Exchange application number. Kindly contact the Foreign Exchange help desk on 08601 36739 for assistance.

MoneyGram

Send money to loved ones abroad

Now that MoneyGram is available on the FNB App, sending money across borders to family and friends is quick, easy and hassle-free. What's more exciting is that when sending money abroad, the sender has the option to send the MoneyGram to a bank account or even a mobile money wallet in addition to the original method of sending money via the comprehensive MoneyGram agent networks in over 200 countries of the world.

Global Finance World's Best FX Providers 2017 - 2024

What you get

A simple + easy money transfer

This is an easy and affordable, quick and convenient way to send or receive foreign currency and its speed and simplicity ensure a same-day transaction.

How it works

Send money to over 200 countries

All you need to send a MoneyGram is an FNB account - along with some money in it, of course! You can send a MoneyGram via the FNB App, *120*321#, ATM or from an FNB branch.

How to add beneficiaries

FNB App

How to transact with MoneyGram

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*120*321#

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Terms, conditions, rules and pricing

First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider 1929/001225/06 (NCRCP20).