There’s finally a far easier, more cost-effective way for South Africans to move funds internationally

For many South Africans and SMEs, moving money internationally remains one of the more cumbersome parts of the traditional banking experience.

Whether you’re bringing home a foreign salary, emigrating, settling an offshore inheritance, buying property abroad or managing international business payments, these are often significant financial transactions where getting the process right matters.

Yet traditional banks can add unnecessary cost and complexity, with high fees, outdated processes, and minimal support when you need it most. And the banks’ costs are not always as obvious as they seem.

Banks typically layer charges across the transaction, from more visible costs such as SWIFT fees (R500-R 1000 per transaction), commissions, and administration fees to the less obvious margin that’s hidden in the exchange rate itself.

For example, while Google may show the ZAR/USD rate at 16.38, a bank could instead quote 16.72 – effectively adding a hidden markup of 2.05%.

One only has to run the numbers to see how easily this cost can pile up.

On a R1 million transfer, this means a loss of over R20 000 before the payment is even processed.

For individuals, it could mean losing a meaningful portion of a foreign salary, property payment or inheritance to hidden fees. For SMEs, it could mean less capital available for stock, suppliers or expansion.

And for both, there’s the added burden of navigating South Africa’s complex exchange control requirements, where getting the paperwork or process wrong can easily lead to delays or unnecessary complications.

“You don’t have to accept that international transactions should come with such high costs and complexity,” says Harry Scherzer, CEO of award-winning fintech Future Forex and a qualified actuary.

“We’ve proved for years that these transactions can be done far more cost-effectively, while giving clients access to experts who understand the regulations and processes involved.”

This is the problem Future Forex set out to solve: making it cheaper, faster and administratively easier to bring money into South Africa or send it abroad. With savings of up to 50% for individuals and up to 30% for SMEs, Future Forex is proving that lower costs and premium service can go hand-in-hand.

“Many of our new clients are shocked when they discover what their banks were actually charging them,” says Scherzer. “We built Future Forex around the idea that international payments should be transparent, fairly priced and backed by expert guidance.”

Personal service at no additional cost

Future Forex combines world-class financial technology with direct access to specialists who can guide clients through every stage of an international transfer, providing the kind of personalised support often missing from the traditional banking experience.

“While we’ve developed a platform that we believe is unmatched locally, technology alone isn’t enough,” says Scherzer.

“When you’re moving money internationally, you should be able to speak to someone who understands your transaction, rather than navigating a chatbot or call centre. For us, the real advantage is combining sophisticated technology with genuine human expertise.”

That’s why every Future Forex client is paired with a dedicated account manager who takes the time to fully understand their unique circumstances and transaction requirements, and walks them through every step of the process.

If a question comes up or a payment needs attention, clients have a familiar point of contact who already understands their situation and can provide the guidance they need.

At the same time, clients who prefer to manage their transactions digitally can use Future Forex’s intuitive online platform and mobile app to view live exchange rates, add and manage beneficiaries, book transactions and track payments in real time.

Handling the regulatory requirements

The complexity of an international transfer doesn’t stop at understanding the costs.

Knowing which paperwork, tax requirements and regulatory approvals are needed can be just as challenging – yet traditional banks often leave clients to work this out themselves, or charge exorbitant fees for assistance.

“For individuals, our experts guide clients through the transaction and assist with any required paperwork at no additional cost,” says Scherzer. “Whether the transaction requires tax assistance or an Approval of International Transfer [AIT] application to Sars, we manage the entire compliance process for you.”

For businesses, Future Forex’s account managers and forex technical specialists effectively operate as an outsourced foreign exchange department, bringing the key services and support businesses need into one all-in-one solution.

They assist with South African Reserve Bank approvals, Balance of Payments (BoP) code submissions, Advance Payment Notification (APN) applications and other regulatory approvals associated with international trade and payments.

Meanwhile, clients can also access tools such as forward exchange contracts and foreign currency accounts, helping them manage exchange rate volatility and better plan the cost of future international payments.

This powerful mix of innovative tech and personalised service has positioned Future Forex as a pioneer in SA’s foreign exchange landscape.

The company has earned multiple accolades, including ‘Company of the Year’ at the 2025 Africa Career Summit and ‘Outstanding Customer Service in Forex and Payments, South Africa’ at the World Business Outlook Awards, adding to a consistent string of recognitions in previous years.

Most recently, Future Forex was ranked second in News24’s fastest-growing South African companies (2026), reinforcing its rapid growth and position in the market.

Follow this link to get in touch with a Future Forex expert or request a quote for your transaction. You can also give them a call on 021 518 0558 or send them a message on WhatsApp.

Brought to you by Future Forex.

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