1.
Annual allowances
South Africans looking to move funds offshore are subject to SARB Exchange Control regulations. If you have a South African bar-coded ID and are over the age of 18, you can make use of the following annual allowances.
2.
SARB Exchange Control guidance
With decades of experience navigating foreign exchange controls, our team can offer you unparalleled guidance when sending and receiving international currency payments.
3.
Tax Clearance Certificate (TCC) applications
Looking to send out more than your R1 million Single Discretionary Allowance? We assist our clients with their tax clearance applications as a complimentary service and offer an online portal for digital submission. For more information on annual allowances, see here.
4.
FCA accounts
Looking to receive or hold funds in foreign currency in South Africa? We can set you up a Foreign Currency Account (FCA) in your name with a South African bank, allowing you to hold, send and receive all major currencies in SA.
5.
Interest-earning accounts
Open a free account and get access to money-market-linked interest rates on all rand deposits held with us.
6.
Working orders & FECs
Mercury gives you access to advanced market tools. Use limit orders to lock in rates inside and outside of business hours, and make use of Forward Exchange Contracts (FECs) to hedge your future currency obligations up to 12 months forward.
7.
Hyper-low transaction costs and all-inclusive pricing
We pride ourselves on being transparent, which is why our pricing is all inclusive on payments above R100k. Our margin is built into the rate of exchange offered to our clients on each transaction. For payments below the R100k threshold, there is a fixed SWIFT fee of R250 per outbound payment.
8.
Non-resident accounts
Foreign resident transfers are governed by a separate set of exchange control regulations. Should you be looking to invest funds into SA, or expatriate funds out, our team of experts understand exactly what is required and will guide you through with ease.
9.
Tax Migration
Are you considering tax migration, or do you need more information about the changes in South African taxation laws? We have an in-house tax team that can assist with all tax-related queries and applications.
10.
Personal Broker
Technology is great and it makes our lives easier – but we also value the importance of the human touch. Your personal Mercury broker is always at the end of an email, a telephone call or a handshake.