Cheapest Way to Transfer Money to and from South Africa Online
Finding the cheapest way to transfer money to South Africa online is one of the main tasks for all migrant workers. For the past few years, people across the globe have been crossing borders in hopes to find better employment opportunities for themselves and their families.
With the rapid developments made in technology, these remittances payable can now be made as international money transfers from South Africa back to their family members at home.
As a foreign worker, the importance of sending money back home for their family is regarded as an act to build a better life for his/her family members. If you would like to complete a money transfer from South Africa, choose Sikhona Money Transfer.
Sikhona Money Transfer forms part of the company Sikhona Forex (PTY) Ltd. This company offers its customers the service of sending money to more than one hundred and fifty different countries across the world. Sikhona Money Transfer aims to people with sending money back home in the safest and most convenient way possible.
International Money Transfer from South Africa
At Sikhona, we understand how important it is for your money to reach its destination safely. It was with this intention that we paired up with a remittance partner such as Ria to design a user-friendly app for money transfers. The Sikhona mobile application tool allows our customers to make use of our money transfer services in South Africa from the convenience of their very own smartphones.
All of our transactions are processed through some of the most renowned local banks such as ABSA, First National Bank, Nedbank, and Standard Bank.
Sending money home has never been easier! All you have to do is register as a user on the app before using it to successfully transfer money from South Africa to any other country in the world. Once you have registered as a user, you will be able to create beneficiaries and add their details to the app. By creating beneficiaries, it will allow you to effortlessly send money to that person each time you choose to create a new transaction.
After every time that a transaction has been made, you will receive a payment reference that needs to be used to pay for your transaction. After completing the payment, you will be notified of a collection pin that should be sent to the receiver of the money.
Not only will our clients be able to make transactions on the app, but they can also complete other tasks such as getting quotations, track the progress of the order, and view payment locations online.
For all our clients using a South African ID, it is important to note that there is a daily send limit of R49 999.99 and a monthly limit of up to R75 000 000. Also, to make use of Sikhona services, all of our customers need to be at least eighteen years old and have to be willing to provide documents such as a South African Identity Document, foreign passport, or even an asylum document in order to register as a user on the App.
How to Transfer Money from South Africa Overseas?
Taking money out of South Africa can become a complex task. One of the first and most important steps to take when wanting to transfer money from South Africa to the UK, Nigeria, Germany, or any other country in the world is to check the exchange rate.
The exchange rate is the rate at which a currency can be exchanged between two countries. It is usually a good indicator of how well or poorly the country is performing economically at that point in time. These rates can either be quoted directly or indirectly with the use of cross-rates.
When it comes to finding out the amount applicable to transfer money out of South Africa, taxpayers who are at least eighteen years or older can transfer a total of R11 million.
Transferring Money to South Africa from Other Countries
The act of transferring money in and out of South Africa is not as simple as most of the other countries. This is due to some of the exchange control regulations that have been outlined by the South African Reserve Bank.
The South African Reserve Bank is known to be the country’s central bank. One of the tasks that the South African Reserve Bank has is to take full control of the price stability in the country. This is achieved by upholding economic growth in South Africa.
When it comes to sending money to South Africa, you would want to look for the best exchange rates possible.
Two of the best options to use for transferring money to South Africa include:
This is by far the most popular option between the two. Banks are seen as the most suitable way to transfer money to South Africa.
- Companies that offer money transfer services to South Africa
There are different companies across the world that offer the service of sending money from a country to South Africa. It is always best to consult with these companies since they will be able to guide you through the process and assist with any potential issues that may arise during the process.
Get in Touch with Sikhona for the Cheapest Way to Transfer Money to South Africa Online
Choosing to use our professional services for the financial currency market is a far better option than opting for traditional money transfers through a banking institute. Be sure to contact us on 0861 660 660 today. Our business operates every Monday to Friday from 07:00 am to 9:00 pm and on Saturdays, Sundays and Public Holidays between the hours of 08:00 am and 8:00 pm.
Alternatively, all of our customers are welcome to send in their money transfer-related queries to us via e-mail at firstname.lastname@example.org. Simply type out your query and send it to our customer care. We will have one of our professional staff members get back to you as soon as possible. Use Sikhona services for the cheapest way to transfer money to South Africa online.