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Best Foreign Exchange Provider in South Africa

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

The winners were selected from 122 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.

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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.

Multi-currency Cash Passport™

Secure all your bookings abroad

Pay in advance for your travel arrangements such as hotel reservations, cruises or car hire with our global payments solution available via Online Banking or the FNB Banking App (on your smartphone).

Global Finance World's Best FX Providers 2017 - 2023

What you get
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What you get

Pay now + get rewarded

With our global payments solution you will be able to pay for your travel arrangements in advance to secure your bookings abroad. FNB makes sending or receiving a payment from abroad simple and rewarding. We'll simplify the process to make sure you have more time to plan your trip abroad. In addition to this, you can earn up to 50% back in eBucks* on the transaction charges when sending foreign currency online or the FNB Banking App (smartphone).

We make use of the SWIFT method of transferring funds and guarantee a secure, fast, standardised transfer service to suit your needs.

  • Personalised exchange rates
  • Competitive fees
  • Available 24/7/365 via Online Banking or the FNB Banking App on your smartphone
  • Simplify the process with the ability to upload documents, as well as save your beneficiaries online
  • Payments are securely processed on the FNB electronic banking platform
  • Earn up to 50% back in eBucks* on the transaction charges when making payments in foreign currency via Online Banking or the FNB Banking App on your smartphone
  • Confirmation of your payment will be emailed to you upon completion

*Standard eBucks rules apply. Please refer to www.eBucks.com for more information.

 
How it works

How it works

Pay in advance

 

Online

How to make a global payment online

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FNB App

How to make a global payment on the FNB Banking App

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Getting it made easy

Getting it made easy

Pay in advance

Qualifying criteria

  1. FNB Online Banking
  2. FNB qualifying account

Ways to apply

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Other ways to apply

Find a branch

FNB Online Banking
FNB Banking App

Documents needed

  • Depending on the reason for your global payment, you may be required to supply us with additional documents. You will be prompted during your application, should we require documents; alternatively contact the Forex Advisory Team and we will assist you.
  • The banking details and personal information of the beneficiary as well as the reason for your payment.

Rules and pricing

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