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3 GB
R199 p/m
Take full control of incoming payments (ie payments from abroad) on the Nedbank Money app.
International funds will be paid directly into your Nedbank account. Simply give the sender the bank details: Nedbank’s Swift code (NEDSZAJJ), your name and your account number.
View all payments, accept or decline quotes, and even return funds to the sender easily on the Money app or Online Banking.
Online Banking available for individual clients only.
How to receive an international payment on the Money app
- Log in to the Money app.
- Either swipe to the International banking dashboard or select Transact and then Pay.
- Select International payments.
- Select Receive a payment.
- Follow the easy steps to complete the payment.
How to receive an international payment on Online Banking
- Log in to Online Banking.
- Select Pay.
- Select International payments.
- Select Receive a payment.
- Follow the easy steps to complete the payment.
From the Money app
1. Log in to the Money app.
2. Tap on Transact > Pay > International payments > Send
money > Western Union.
3. Select the account you’d like to pay from.
4. Enter your recipient’s details.
5. Enter the reason for the payment and the correct amount.
6. Accept the quotations together with the Terms and conditions.
7. Accept the Approve-it message on your phone.
8. Share the MTCN tracking number with the recipient.
From your Online Banking
1. Log in to Online Banking.
2. Click on Pay > International payments > Send money > Western Union.
3. Select the account you’d like to pay from.
4. Enter your recipient’s details.
5. Enter the reason for the payment and the correct amount.
6. Accept the quotations together with the Terms and conditions.
7. Accept the Approve-it message on your phone.
8. Share the MTCN tracking number with the recipient.
Important notes
1. You cannot pay local third parties using your FCA.
2. Your FCA cannot be used as security.
3. Your FCA cannot go into overdraft.
4. The account is intended for personal use only and cannot be used for business purposes.
5. As a South African resident, you cannot withdraw foreign currency in banknotes.
Fees and charges
- No monthly management fees.
- Free monthly electronic statements.
- Free transactions:
Digital transfers between your FCA account and your transaction account are free.
Digital transfers between your FCA accounts are free. - Fees may be charged for other services.
How to make outgoing international payments from your FCA
To make an outgoing international payment from your FCA, you’ll need to complete this online form and send it by email to servicedeskpayments@nedbank.co.za. We will call you for verification to process your outgoing payment.
Please note: Depending on your reasons for payment (ie Balance of Payments or BoP), you may have to provide supporting documents.
Learn more
Single discretionary allowance
As a South African resident, you're allocated an annual single discretionary allowance of R1 million. This may be used for payment for any legal purpose abroad, as defined in the Currency and Exchanges Manual for Authorised Dealers from the South African Reserve Bank, including investments, travel-related payments and gifts, without any tax implications.
Foreign investment allowance
As a South African resident, you're allocated a foreign investment allowance of R10 million a year. Keep in mind that there will be tax implications when using this allowance. Before opening your account, make sure you have a tax number and Tax Compliance Status PIN letter from the South African Revenue Service. A consultant will call you to help you open your selected account.
How to get your Tax Compliance Status PIN letter?
For information on how to get your Tax Compliance Status PIN letter via e-filing, for Foreign Investment, please visit SARS online or call the SARS Contact Centre on 0800 00 SARS (7277).
Please note that the purpose of this request is for Foreign Investment and not the Letter of Good Standing.
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