With forex transfers no longer restricted to the high street banks that most individuals and companies have traditionally used, specialist companies such as Incompass are now offering a host of benefits in addition to saving you money by getting you better exchange rates.

How it works

Banks and many other institutions tend to levy fees when instructed to transfer money for you.  These can range greatly but typically are between R300 and R500 in South Africa, £25 – £45 in the UK and €30 – €50 in Europe.

• Incompass levies no fees on your transaction

Save money by accessing better Exchange Rates

In reality transferring money is not any different to buying any other product or service. The quoted exchange rate being the equivalent of an offer or  selling price for a product or service.  The question you must ask, as with any purchase is “Why should I, or indeed why would I, spend more for the same (or in most cases a lesser) product or service than I need to?

Here’s an example

• If you were to transfer ZAR 1 million to GB Pounds at an exchange rate of 11 you would receive £90,909.
• If you were to transfer ZAR 1 million to GB Pounds at an exchange rate of 10.8 you would receive £92,592.

A difference of just 0.2 may not seem like much but the result is in excess of £1,500 more in your bank account.

• With Incompass we offer highly competitive exchange rates that beat the banks rates 99% of the time.

Save Money through better service

Watching the currency rates is a time consuming and complex process and is something rarely done with success.  Even when rates are watched, by the time you pick up a phone and try to trade, the rate has already changed.  This can lead to an acceptance of a quoted rate just to remove the time challenges and hassle factor involved.

• With Incompass we will watch the rate for you and when it reaches the level you wish to trade at we will contact you.

Save Money by shopping around

Transferring money means following the basic principles of making any major purchase – shop around for the best deal.
With Incompass registration is free of charge and once you are registered it is a phone call away to ascertain what rate we can obtain for you.

Save money by saving time and reducing additional costs

This is particularly pertinent to individuals and businesses wishing to transfer money out of South Africa.  Foreign exchange regulations have created an environment where the transfer of money out of South Africa can be complex and is always a ‘paperwork exercise’.  Tax clearances and permissions must be obtained meaning time spent by you, the transferrer or costs incurred by enlisting the assistance of an accountant or professional to obtain these clearances.

• Incompass obtain the tax clearance and Reserve Bank approval for your transfer out of South Africa – saving you time and money.

Saving money by following Exchange Control regulations

Unique to just a few countries, South Africa being one of them, Exchange Control regulations governing the flow of money in and out of South Africa have a profound impact on your ability to move money.  Contrary to many people’s beliefs how you transfer your money into South Africa does matter, if done incorrectly it could result in you paying a ‘fee’ of 10% should you wish to repatriate these funds at a later date.

• Incompass is able to ensure that any money transfers into South Africa comply with South African Exchange Control regulations.  We are able to facilitate both transfers into and out of South Africa.  Make sure your currency provider is able to provide you with transfers into and out of South Africa and has a full understanding of South Africa’s Exchange Control regulations.

Summary

Registration is free and non obligatory, full knowledge of South African Exchange Control regulations are freely available, the best rates and no fees are only a ‘phone call away.

Contact our local agent Christopher Stokes on + 27 (0) 82 400 5859 or e-mail him here to ensure your forex transfer into South Africa is executed in the most efficient and cost effective way.

Many businesses have a requirement to transfer forex either in to or out of South Africa. Incompass offers a host of benefits to our corporate clients that save them both money and time:

If you are a commercial entity with the requirement to transfer money in to or out of South Africa, you will already be aware of the complexity of the Exchange Control regulations, the inconvenience of the processes involved and the challenging paperwork requirements.

At Incompass we realize how essential it is for companies to have access to expert currency advice. Hours spent compiling and completing applications, understanding the taxing rules and applicable allowances and even watching the exchange rates – means hours spent away from running your business.

Our forex service sees us placed as an integral part of your operation and we view ourselves as a privileged partner in taking care of all your currency transfer needs.

Of course, as a business you are seeking a first class service for your forex needs and, importantly, competitive fees and the very best of foreign exchange rates.

Our commercial clients benefit from:

• NO administration fees
• The VERY BEST bank beating exchange rates
• ALL exchange control approval
• EXPERT advice and guidance
• DISCERNING service
• SAFE AND SECURE trading

All of our transactions are processed through local banks, which are approved authorised dealers by the South African Reserve Bank. In addition we are an FSB (Financial Services Board) registered company holding all appropriate licences. Our money transfers, in to and out of South Africa, are done in strict accordance with money laundering regulations and Exchange Control regulations; and all our transactions are audited in terms of our licence and banking requirements.

We offer tailored solutions to each of our corporate clients needs by learning about and understanding your business and your currency requirements thoroughly.

So, consider an alternative to your current process and see how we can add value, expertise and save you money by contacting our corporate team for a free and non obligatory meeting.

Contact our local agent Christopher Stokes on + 27 (0) 82 400 5859 or e-mail him here to ensure your forex transfer into South Africa is executed in the most efficient and cost effective way.

For our personal clients who are transferring Forex either in to or out of South Africa, Incompass Forex offer a host of benefits to save you both time and money on your currency transfer:

• NO administration fees
• The VERY BEST exchange rates
• ALL tax clearance and Reserve Bank clearances
• EXPERT advice and guidance
• DISCERNING service
• SAFE AND SECURE trading
• FULLY SARS and Reserve Bank compliant
• CORRECT declaration of incoming funds

We have been providing financial solutions since 2003 with a focus on the international individual or company. Our commitment to providing both innovative and comprehensive currency transfer solutions has resulted in us becoming one of South Africa’s foremost experts in the field of foreign exchange.

We are justifiably proud that a significant number of our currency transfer clients derive from recommendations from existing clients. We are able to assist in the following areas:

• Transfer of funds in to South Africa in a fully compliant manner that allows for repatriation of funds at a later date
• Transfer of funds out of South Africa for capital allowances, discretionary travel allowances, study and gifts – we take care of all paperwork and clearances on your behalf.
• Repatriation of funds for temporary permit holders, non residents or clients that immigrated here to South Africa
• Transfer of money into South Africa for the purpose of house purchase and other assets and investments.
• The transfer of money out of South Africa for South Africans emigrating.
• The transfer of “Blocked” funds out of South Africa for South Africans previously emigrated
• Opening of private style cash accounts for our clients transferring currency from abroad and needing banking facilities in South Africa.

All of our transactions are processed through local banks, that are approved authorised dealers by the South African Reserve Bank. In addition we are an FSB (Financial Services Board) registered company holding all appropriate licences. Our money transfers, in to and out of South Africa, are done in strict accordance with money laundering regulations and exchange control regulations; and all our transactions are audited in terms of our licence and banking requirements.

If you are seeking professional advice from an expert team, if you do not want to pay fees for your transactions and if you are looking for the very best exchange rates contact Incompass Forex – the smart way to transfer your money in to or out of South Africa.

Contact our local agent Christopher Stokes on + 27 (0) 82 400 5859 or e-mail him here to ensure your forex transfer out of South Africa is executed in the most efficient and cost effective way.

Get help and advice with your Tax Clearance for you currency transfer out of South Africa with Incompass Forex for free.

When effecting a currency transfer out of South Africa, there are certain pre-requisites that must be followed:

All currency transfers out of South Africa made under the foreign investment allowance require a tax clearance
All currency transfers out of South Africa require reserve bank approval

Incompass Forex offers their money transfer clients this service as part of their forex service. This means that if you are transferring money out of South Africa you do not need to worry about obtaining these permissions yourself or incurring further costs. We do it.

In addition to our tax clearance certificate our clients benefit from:

• NO administration fees
• The VERY BEST exchange rates
• EXPERT advice and guidance
• DISCERNING service
• SAFE AND SECURE trading
• FULLY SARS and exchange control compliant
• CORRECT declaration of funds
• BANK ACCOUNTS – set up in South Africa and overseas for larger sums

All of our transactions are processed through local banks, which are approved authorised dealers by the South African Reserve Bank. In addition we are an FSB (Financial Services Board) registered company holding all appropriate licences. Our money transfers, in to and out of South Africa, are done in strict accordance with money laundering regulations and exchange control regulations and all our transactions are audited in terms of our licence and banking requirements.

We distinguish ourselves from banks by offering a better service, better exchange rates and no fees. We distinguish ourselves from other currency companies due to our expert knowledge of the South African Exchange Control regulations.

If you have a requirement for a currency transfer out of South Africa let Incompass obtain your Tax Clearance Certificate for you.

Contact our local agent Christopher Stokes on + 27 (0) 82 400 5859 or e-mail him here to ensure your forex transfer out of South Africa is executed in the most efficient and cost effective way.

If you are transferring forex into South Africa it is imperative that you take into account the following:

• Any set administration or service charges – YOU SHOULD NOT BEING PAYING THESE!
• Rates – ensure you get a set rate not an indicative rate – BEWARE OF BANKS WITH 3% – 5% SPREADS (this is the real cost to you)
• Service levels – buying or selling currency is a major financial purchase – ENSURE YOU ARE HAPPY WITH THE LEVEL OF SERVICE ON OFFER
  Knowledge of Exchange Control regulations – IT IS ESSENTIAL YOU DEAL WITH AN ORGANISATION WHO ARE FAMILIAR WITH AND CAN EFFECT YOUR FOREX TRADE WITHIN SOUTH AFRICA’S REGULATORY CONTROLS

Your choices for transferring your forex into South Africa

1. The high street bank – for a long time the high street bank enjoyed a virtual monopoly on forex transfers. Of course they are well known to us all and the perception, now largely dispelled with recent events, was one of a stable and safe environment. Their charges tend to include administration fees and a ‘buy – sell’ spread of up to 5%. The result means substantially fewer Rands purchased with your money.

2. Currency companies – the favoured choice by those in the know, but beware:

1. Based outside South Africa – whilst rates should be better than the banks and you will generally benefit from no administration charges for your forex transfer, there is the issue of Exchange Control. Exchange Control regulates the flow of money in and out of South Africa and put simply if your currency-transfer into South Africa is not handled correctly you may well have a challenge if ever you choose to repatriate those funds back out of South Africa. It is most likely that a foreign based currency company will have little, if any, knowledge of Exchange Control as it is a rarity throughout the world.

2. Based inside South Africa – really the best option as they should be able to provide you with the necessary information to make an informed decision with regard to your forex transfer into South Africa within the Exchange Control environment. In addition they will be regulated by the Financial Services Board and trade through the required authorised dealers. You should also enjoy no administration or service fees and a much reduced ‘buy – sell’ spread. The result – Expertise, Better Service and more Rand for your money.

Incompass is regarded as one of the industry leaders when it comes to our knowledge of Forex transfers and the Exchange Control environment.

In using our services you can look forward to:

• NO administration fees on your currency transfers
• The VERY BEST foreign exchange rates
• ALL tax clearance and Reserve Bank clearances that are required for transferring money
• EXPERT advice and guidance for all foreign exchange and currency transfers
• DISCERNING currency exchange service
• SAFE AND SECURE currency trading
• FULLY SARS and Reserve Bank compliant money transfer process and procedures
• CORRECT declaration of funds transferred into South Africa

Contact our local agent Christopher Stokes on + 27 (0) 82 400 5859 or e-mail him here to ensure your forex transfer into South Africa is executed in the most efficient and cost effective way.

Transferring currency out of South Africa can be an inconvenient and complex business leading to frustration and irritation. The result is often the acceptance of a poor rate for your forex transfer.

The process of transferring forex out of South Africa begins with the quite complex procedure of obtaining the necessary Tax Clearances and Reserve Bank Permissions. For many seeking to transfer money out of South Africa it is this very first step that causes the most anguish.

Most probably you will contact your bank, who unfortunately offer little in the way of assistance in obtaining the appropriate clearances and permissions. You may then go on to see accountants or start queuing at the Revenue Service – either or both costing you money and time. This will then lead on to time delays and very often at the end of all this your levels of exasperation with the whole process will lead to you ‘not caring’ about the forex exchange rate, but just being grateful that the transaction has at last been achieved.

Welcome to a new way of doing things.

Our Forex transfer service for sending currency out of South Africa operates in a very different way.

Let’s start with the personal service level one should expect:

• We realise that you don’t operate on a 9am – 5pm basis so neither do we. While we can’t promise a 24 hour service you’ll find we are available at most hours for your call – try us now on + 27 (0) 82 400 5859.
• You are never a number with us, you’ll have a dedicated member of our team to look after your needs and you can enjoy an environment more associated with private banking.
• We come to you – we are happy where appropriate to visit you at your place of work or at your home to discuss your needs and to assist in completing the paperwork.

Now what about the knowledge levels:

• Our team are highly educated and trained individuals (as an example the head of our forex desk is also an Internationally qualified Tax Lawyer)
• We specialise in Exchange Control regulations, obtaining tax clearances and providing you the information you need when conducting a forex transfer.

And the charges:

• We levy no administration charges for forex transfers
• We levy no charges for assisting you in obtaining the required clearances and approvals

And the forex exchange rates:

• Our forex exchange rates are market leading
• We typically save you between 1.5% – 2.5% of the amount you are transferring – so on a million rand that’s R15,000 – R25,000

How do we do it?

Each year Incompass Forex conducts transfers to the tune of hundreds of millions of rand on behalf of our clients. This enables us to negotiate rates that simply are not available to the public or business owner.

Getting started

Registration is free, non obligatory and simple. To start benefiting from better rates, better service and expert advice for your forex transfers out of South Africa either call our local agent Christopher Stokes on + 27 (0) 82 400 5859 or e-mail him here.