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South African corporate clients

We help South African businesses (including importers and exporters) that need to transfer their funds out of South Africa.

Protect yourself from Rand volatility

In current times, a minor shift in the market can have a huge impact on your bottom line. It takes years of research and mentoring to gain the professional insight into market volatility, especially when it comes to the Rand.

As a corporate client, your personal account manager will develop a tailored forex solution for you.

Simply put, it means that you get a secure, cost-effective solution that minimises currency risk and increases your bottom line.

How to get started

  1. Call our brokers and let us know the amount you want to transfer
  2. You’ll receive a quote with a competitive rate
  3. If you choose to accept, you transfer the funds to our client holding account at our partner bank
  4. As soon as we receive your proof of payment our broker will secure this preferred rate for you
  5. We send the SWIFT payment confirmation back to you, completing the process

Please note: Exporters work in a similar way. If you’re an exporter, the main difference is that we open a Customer Foreign Currency (CFC) account in your company’s name. Recipients will use this account to pay you. Once they have paid into the CFC account, the Rand proceeds are either sent straight to your local bank or can be held in your account for 180 days.

Hedging for importers and exporters

Your personal account manager’s job is to optimise your financial position by reducing the risks of currency fluctuations and volatile exchange rates.

We achieve this goal in one of two ways:

Spot contracts

This is a simple agreement to buy or sell currency, to be settled on the spot date. The price of this agreement is the exchange rate. The time frame for spot transactions is two business days from the trade date.

Forward contracts for an agreed date in the future

This lets you secure an exchange rate at an agreed time in the future. We are able to offer partially and fully optional forward contracts. The contract itself could cover many payments at different dates. By booking forward, you’re able to buy or sell the currency today at the agreed price for value on a specific date in the future. You can fix an exchange rate for up to six months in advance, which reduces currency risk as it “locks” in your rate until a future date.

Request a quote

We've been transferring money out of South Africa for two decades now, and we know exactly how to make sending your money abroad as easy as possible.

Get started by filling in a quote request and we'll mail you an accurate and obligation free quotation.

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Why thousands 1st Contact Forex

Speedy
transfers
Excellent
exchange rates
Every fifth
transfer is free
Authorised
and regulated
UK debit
cards accepted
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