PRODUCTS

The South African Reserve Bank (SARB) Financial Surveillance Department has approved an annual Discretionary Allowance with a limit of R1 million per adult per year over the age of 18 years old and under 18 years old are entitled to R200 000 per individual per year. Sikhona Forex can assist with the following transfers:

 

MONETARY GIFT AND LOANS

SA Resident to a non-resident individual

 

TRAVEL ALLOWANCE

SA Resident within 60 days before departure date

 

Sikhona Forex has the following products available:

Foreign Cash

Buying and Selling of foreign bank notes in all major currencies. Minor currencies can be ordered within 24 hour’s notice.

 

 

Telegraphic Transfers

We can assist with the electronic transfer of funds either by means of a gift allowance, resident of SA sending to a non-resident abroad or by means of a travel allowance, resident of SA sending to his own bank account abroad providing he is travelling within 60 days from date of departure.

 

Land Arrangement Payments

We can assist individuals, travel agents or sporting groups with the pre-booking of hotel accommodation abroad by means of electronically transferring the funds abroad on presentation of a foreign invoice.