The first point to note is that transferring money out of South Africa is not that simple.
Unfortunately you cannot simply amble into your bank or go online to effect the transfer currency. There are a number of requirements that must be fulfilled depending upon your reason for transferring money out of South Africa.
- Appropriate tax clearance must be obtained.
- Declarations of adherence to allowances.
- Appropriate audit trail of money remitted to South Africa that is to be repatriated.
- Reserve Bank clearance.