Adherence to these rules is the responsibility of every cardholder. Non-adherence may result in fines and/or withholding of funds by the South African Reserve Bank (SARB) and further penalties from the South African Revenue Service (SARS).
For ease of reference, we would like to remind you of the following rules:
You may not take part in online lotteries, gambling, or sports betting activities
with providers outside of South Africa using your credit, debit, or virtual cards. If you do, we may be instructed to confiscate the winnings and pay them over to the Gambling Board of South Africa.
All foreign transactions count towards your single discretionary allowance (SDA).
These include card payments or cash withdrawals, while overseas and purchases on international e-commerce sites. Make sure you do not exceed the annual R1 million limit.
Online card payments for imports, subscriptions, or services (excluding foreign-travel related) may not exceed R50,000 each.
You also may not split a payment that is over R50,000 into smaller transactions to avoid this rule. Regardless of the payment amount, you must pay any applicable import duties and follow customs requirements.
Funding of foreign currency accounts (locally or abroad) may not be done via card payments.
Only SWIFT payments or cross-border transfers are permitted for this purpose. This includes funding of international trading, investments, and crypto wallets or accounts. The funding of these types of transactions should be referred to an Authorised Dealer or bank to process within the prescribed rules.