Forex Operations

Operations

• We offer better foreign exchange rates across currencies for all imports and exports, resulting in substantial savings for your business.
• Banks charge a once off flat administration fee of approximately R300 incl V.A.T on each deal. This applies per foreign supplier for imports and per transfer of ZAR into exporters local bank accounts for exports.
• NO OTHER ADMIN FEES!!!
• Our Fee is based on the margin between the bank rate & the rate we quote you!
• The bank pays us this fee, not the client!
• We ensure the safe collection & delivery of all your documentation.
• We save you time & money by providing a hassle free dealing process run by experienced, competent & diligent dealers with a strong support structure.
• The dealing room & office are always available to discuss your foreign exchange requirements and/or any information on the markets  

How we work

• The dealer will offer you a competitive foreign exchange rate, which is solely at your discretion to accept or reject.
• Once you have accepted the rate quoted by our dealer, we together with our partner bank will send you a confirmation note. Both comfirmations must correspond as a check record.
• The money required for payment of the foreign exchange purchased will be paid by you in a transmission account in your name at our partner bank. We will NEVER have access to your funds whether you are importing or exporting.
• The transmission account setup in your name is free of setup charges & free of ongoing admin fees, but is interest bearing.
• Documents will be collected together with the relevant signed BOP (Balance of Payment) form and delivered to the bank. Once the funds have been deposited into your transmission account, the deal has been settled. The documents are stamped by the bank and returned to your office.
• Exporters are dealt with in a similar manner. Once your transmission account has received the foreign currency and you have accepted our competitive rate, the local funds will be transferred to your nominated South African bank account on the value date requested.
• We will FIA approve your company with our partner banks as per the Financial Intelligence Centre Act which governs all banking relationships.

• We will guide you as to what relevant documents our partner bank require

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