BEYOND currency

Frequently Asked Questions

Some of the most frequently asked questions from our clients. If you don’t find what you’re looking for here, please get in touch.

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1. Licensing, Security & Our Banking Partnerships

Currency Partners (Pty) Ltd is a licensed Financial Services Provider (FSP No. 35134) regulated by the FSCA (Financial Services Conduct Authority). We are also an authorized to act as a Treasury Outsource Company (No. 1431) by the South African Reserve Bank (SARB).

Yes. We operate stringent personal security and fraud prevention measures in line with industry best practice. Your funds are held in individual segregated client accounts, with institutional-grade security, at our partner banks. This ensures your capital is safe and ring-fenced from other client and business funds.

We partner with leading institutions like Investec and Capitec Bank to bring our clients institutional-grade security, enhanced money market interest rates and access to the most competitive exchange rate pricing in the market.

2. Individual Allowances & SARS Compliance (2026 Updates)

Following the 2026 Budget Review, South African residents have two primary annual allowances:

  • Single Discretionary Allowance (SDA): Increased to R2 million per calendar year (effective February 2026). This requires no SARS tax clearance.

  • Foreign Capital Allowance (FCA): Up to R10 million per calendar year. This requires an Approved International Transfer (AIT) from SARS.

The AIT is the mandatory tax clearance required for transfers exceeding your R2 million SDA.

  • Processing Time: While the official SARS turnaround is 21 days, applications through Currency Partners are typically approved within 3 to 5 business days.

  • Our Service: We provide complimentary AIT applications as part of our currency transfer offering.

Yes. Transfers exceeding the R12 million combined annual limit are possible via a special application to the SARB. Our compliance team specializes in facilitating these high-value approvals, for which there is no formal upper limit.

3. Fees, Rates & Transfer Process

Currency Partners offers its clients access to the most competitive wholesale exchange rate pricing in the market through our partner banks. This means our clients can make significant savings on the retail rates from traditional banks.

Once your account is funded, payments are typically delivered within 24 to 48 hours. For major currencies (USD, GBP, EUR), same-day processing is often available if requirements are met before the 10:00 AM cut-off.

This is the digital proof that your funds have been sent to the beneficiary bank. We issue this automatically once received from the bank when your transfer is complete.

4. Business & Specialized Services

  • Imports: We facilitate payments for goods, freight, and insurance, ensuring full compliance with SARB exchange control documentation requirements.

  • Exports: We assist in setting up Customer Foreign Currency (CFC) Accounts. This allows you to hold export proceeds for up to six months to fund future imports, creating a “natural hedge” against Rand volatility.

We offer several complimentary tools to manage currency risk:

  • Forward Exchange Contracts (FECs): Fix an exchange rate today for a future date (up to 12 months).

  • Market Orders: Set a “target rate,” and we automatically execute the trade the moment the market hits your price.

Yes. We assist South African firms with the transfer requirements for offshore investments. Current regulations allow unlisted SA companies to invest up to R3 billion per year offshore, subject to specific reporting conditions.