Sending or receiving funds internationally? Here’s a simpler, more cost-effective way to do it

If you’ve ever made a large international payment through your bank, you’ll know the frustrations: high transfer costs, little clarity, and minimal support through what can often be a complicated process.

Even a simple query can mean navigating chatbots, repeating the same information and being passed from one department to another.

These challenges prompted Future Forex to build a different model – one that pairs industry-leading exchange rates with a dedicated account manager who knows each client, understands their requirements, and guides their transaction from start to finish.

The result is a far more streamlined international money transfer process that costs up to 50% less for individuals and 30% less for businesses.

“Before making your next international money transfer, there are two important questions worth asking,” says Harry Scherzer, a qualified actuary and CEO of multi-award-winning fintech Future Forex: “What is this transaction really costing me, and what level of service am I receiving in return?”

Most South Africans are unaware of what their bank is really charging them. While some fees such as SWIFT fees, commissions, or admin costs are more visible, the highest cost is often hidden in the exchange rate spread – the difference between the rate at which a bank buys and sells foreign currency.

For example, a Moneyweb analysis shows that banks were buying USD at around R16.48 and selling at R16.80 this week – a difference of roughly 2%.

For a R1 million transfer to the US, that seemingly small gap translates to approximately R20 000 in additional costs you may not realise you’re being charged for.

For individuals and SMEs, those hidden margins can make both regular international payments and large once-off transfers considerably more expensive.

Through a combination of economies of scale, proprietary technology, and strong banking partnerships, Future Forex delivers significant cost savings to individuals and SMEs. Just as importantly, clients know exactly what their transfer will cost before proceeding, thanks to a simple, transparent pricing model.

“We charge a single, low fee rather than layering costs on top of one another,” Scherzer explains. “And there’s no need to switch banks for your everyday financial needs. You can continue using your existing bank for day-to-day transactions while we handle your international transfers.”

An expert to call when you need help

But cost is only part of the equation. Whether you’re purchasing property abroad, moving accumulated savings or paying a supplier against a deadline, knowing exactly who is handling your transfer can make all the difference.

That’s where Future Forex sets itself apart. Every client is assigned a dedicated account manager, a foreign exchange expert who understands their specific circumstances and South Africa’s exchange control requirements.

Rather than having to explain your situation to a different call centre agent each time, you have one consistent point of contact to guide you through the process, help with documentation and answer questions along the way.

“Apart from the cost savings, our focus is on providing a genuinely personalised service around every transaction,” says Scherzer.

“We get to know our clients, understand what they’re trying to achieve and provide hands-on support throughout the process – something that would typically come with a price tag elsewhere, or be reserved for larger corporate clients.”

The value of that support becomes clear when a transfer involves more than a straightforward currency conversion. Clients may need guidance establishing which supporting documents to provide, or help understanding the exchange control requirements that apply to their transaction.

Future Forex’s specialists handle these compliance steps at no extra cost, including Approval of International Transfer (AIT) applications and other exchange control requirements. For businesses, the team also helps with foreign currency accounts and South African Reserve Bank approvals.

Whether you’re running a business or making a personal transfer, having this support means less time dealing with administration and more time focusing on what matters.

Technology with personal support

Alongside its renowned white-glove service, Future Forex gives clients access to a user-friendly online platform and mobile app, making it easy to manage their international transfers in one place.

From booking transactions and tracking payments to viewing live exchange rates and setting rate alerts, clients have all the tools they need to manage their transfers and stay up to date with market movements. Business clients can also set up customisable approval workflows to determine who must authorise a transaction before it proceeds.

The result is a best-of-both-worlds approach: the convenience of digital technology, backed by personalised, white-glove support whenever clients need it.

You can track your payments and monitor exchange rates in real time on the Future Forex app. Image: Future Forex

From straightforward monthly transfers to more complex cross-border transactions, Future Forex make moving money to and from South Africa far quicker, easier and more cost-effective.

The company’s approach has earned recognition across the industry, including ‘Company of the Year’ at the 2025 Africa Career Summit and ‘Best Cross-Border Payments – South Africa’ at the 2026 Global Financial Market Review Awards.

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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