Treasury Outsourcers (Foreign Exchange Holding Accounts)

In order to avoid a massive FX conversion fee (normally around 2.75%), we strongly suggest that you open a foreign exchange holding account with a treasury outsourcer (which brings the fee down to ~0.8%). You are welcome to open an account with anyone you like, but to simplify the process for you, we have researched multiple offerings and maintain a relationship with three Treasury Outsourcers. We are not affiliated with any, and all are registered FSPs.

Please see the costs involved in sending with a Treasury Outsourcer.

Requirements

To open an account with a Treasury Outsourcer, you’ll need:

• Proof of ID
• Proof of Residence
• Proof of source of funds
• Proof of tax registration (any document issued by SARS with your tax number should suffice)

Open an Account

To open an account with a Treasury Outsourcer, please follow the steps in The Guide to Treasury Outsourcers.