Close

Best Foreign Exchange Provider in Africa 2024

FNB has been awarded as the Best Foreign Exchange Provider in South Africa for the eighth year in a row in the annual World's Best Foreign Exchange Provider awards hosted by the Global Finance Awards.

The winners were selected from 87 countries globally using a criteria which included, but not limited to, transaction volumes, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. Global Finance magazine also considered input from industry analysts, corporate executives and technology specialists.

Global payments | Forex | FNB
Home
Back
Global payments
 
Home
For Me
& My Family
For My Business
Corporates + Public Sector
Private
Calculators
Rates + Pricing
About FNB + Legal
Contact Us + Tools
Careers at FNB

Close

Close

Please select

For My Business

< R10m annual turnover

For My Business

> R10m annual turnover

Close

Please select

For My Business

< R10m annual turnover

For My Business

> R10m annual turnover

Close

Close

Daily Banking

Close

Tools

Register Forgot Username or Password Verify payments

Close

Menu

Bank Family & Life stage solutions Events & Services Bank better

Switch to FNB

Product Shop

Financial Solutions

Bank Invest Borrow Insure Connect

Ways to bank

Digital Banking Branch, ATMs + Telephone Banking + @Till Banking Digital Payment Solutions nav»

Invest abroad

Global Solutions

Financial planning

Overview Personal goals Child's education Emergencies Tax free Estate + legacy planning Employee Benefits

Forex

Foreign exchange solutions

eBucks Rewards

eBucks Rewards SLOW

Switch to FNB

Product Shop

Lifestyles

Family Banking Youth accounts FNB EasyPlan Islamic banking Premier Young Professionals Medical Professionals Premier Select Over 55s Encore - Over 55s Retirement

Switch to FNB

Product Shop

Events

Events

Services

DebiCheck and Debit Order Balance Alert Limit Alert LOTTO and PowerBall Prepaid products Soccer six Traffic fines Switching Services inContact Online vouchers Payments and Debit Orders DStv Payments Account Closure Guide

Switch to FNB

Product Shop

Bank better

Learn about banking FNB App guides

Close

Switch to FNB Business

Product shop

By Turnover

First Business Zero (R0 - R5 million p.a) Gold Business (R0 - R5 million p.a) Platinum Business (R5 million - R60 million p.a) Enterprise Business (R60 million - R150 million+ p.a)

Transact

Business Accounts Credit Cards Cash Solutions Merchant Services eWallet Pro Staffing Solutions ATM Solutions Ways to bank Fleet Services Guarantees

Savings and Investments

Save and Invest 3PIM (3rd Party Investment Manager)

Borrow

FNB Cash Advance Overdraft Loans Debtor Finance Leveraged Finance Private Equity Securities Based Lending Selective Invoice Discounting Asset Based Finance Alternative Energy Solutions Commercial Property Finance Fleet Services

Insure

Insurance

For my employees

Staffing Solutions Employee benefits

Forex + Trade

Foreign Exchange International Trade Structured Trade + Commodity Finance Business Global Account (CFC account)

Value Adds + Rewards

Connect my business the dti initiatives Enterprise and supplier development Business Hub eBucks Rewards for Business DocTrail™ CIPC Integration Channel Instant Accounting Solutions Instant Payroll Instant Cashflow Instant Invoicing SLOW 24/7 Business Desk FNB Business Fundaba nav» Marketplace Prepaid products Accounting integrations

Industry Expertise

Philanthropy Chinese Business Islamic Banking Agriculture Public Sector Education Healthcare Franchise Motor Dealership Tourism

Going Global

Global Commercial Banking

Financial Planning

Overview

Bank Better

KYC / FICA Debit order + recipient switching Electronic Alerts

Close

Corporates + Public Sector

Corporate Public Sector

Close

Home Loans

Affordability Bond Calculator

Day to day banking

Budget Future Value Credit Cards

Shares

Share Investor

Vehicle Finance

Vehicle Repayment Vehicle Purchase Price

Close

Product Rates

Save and Invest Transactional Savings Legal Practitioners and General Trust Account Global Accounts

Pricing Guide

Overview

Rates

Foreign Exchange Rates Lending Rates

Indicators and Share Price

SA Indicators

Close

News + Insights

Press Office Economics commentary Insights Business Hub

Close

Terms + Conditions

Product Terms and Conditions Promotions Terms and Conditions Legal Matters

About Us

World of FNB

News + Insights

Press Office Economics commentary Insights Business Hub

FNB Subsidiaries

Botswana Lesotho Ghana Namibia Swaziland Zambia Channel Islands

Close

Talk to us + important numbers

Contact us

Fraud + Disputes

Security Centre

Locators

ATM Locator Branch Locator/Book a Branch Visit eWallet GEO Locator

Tools

Switching Services Track and Trace Lead Form Tracking Upload Documents - For Me Upload Documents - For My Business Reporting a death Software Downloads FNB Approved Suppliers FNB Prospective Suppliers Verify Guarantee Verify Statements Verify Payments Verify Account Confirmation/Visa Application Letters eWallet balance enquiry

Close

Careers at FNB

Find out more about careers at FNB Apply here

Close

Close

All savings + investment accounts

Cash deposits

Notice deposits Immediate access Access to a portion Fixed deposits

Share investing

Shares

Tax-free investing

Tax-free accounts

Funds/unit trusts

Ashburton specialised products

Invest abroad

Offshore products

I want to save for

Personal goals Child's education Emergencies Tax-free

Compare similar

Compare

Additional options

Show me all Help me chosse Find an advisor

Financial planning

Overview

Close

Close

Find a branch

Close

Pricing Guide and Rules

Forex Pricing Guide

View South African Exchange Control Requirements

Close

What is a SWIFT code?

The Society for Worldwide Inter-bank Financial Telecommunication (SWIFT) is an electronic communication method used by banks all over the world to correspond with each other in a secure and standardised way. SWIFT transfers are secure, standardised, relatively inexpensive and extremely quick.

If you are unsure of the SWIFT code, simply select Foreign Bank Search while capturing your Global Payment application.

When entering the SWIFT code, please make sure that all the letters are in uppercase.

Close

South African Exchange Control Requirements

All foreign exchange transactions in South Africa are subject to exchange control regulations, governed by the South African Reserve Bank. In accordance with compliance and as an authorised dealer, we provide you with the rules applicable to South African residents travelling abroad . Full details can be found on the South African Reserve Bank's website.

Close

Rules for South African residents travelling abroad

  • Foreign currency for travel purposes may not be bought more than 60 days prior to the departure of the traveller.
  • Travel allowance covers a calendar year (1 January - 31 December)
  • Any unutilised portion of a travel allowance must be resold to an authorised dealer within 30 days of your return. You may however, reapply for the unused portion of your discretionary allowance at any time during the calendar year.
  • A South African resident over the age of 18 is entitled to a single discretionary allowance of up to R1 million per calendar year. The single discretionary allowance may be used for any legal purpose abroad (including for investment purposes). This dispensation may be utilised solely at the discretion of the resident without any documentary evidence having to be produced to the authorised dealer except for travel purposes outside the Common Monetary Area where a passenger ticket needs to be produced.
  • Children under the age of 18 years qualify for a travel allowance of R200 000 per calendar year. For travel purposes, a valid travel document must be presented, indicating that the journey commences from South Africa. Allowance may not be issued more than 60 days prior to departure.
  • The costs of land arrangements (hotels, cruises, tours, etc.) are deductible from a travel allowance, except the payment of airfares in rands.
  • In addition, each traveller may take R25 000 in South African Reserve Bank bank notes when visiting abroad.
  • Where the insurance value of your personal belongings not for sale, exceeds R50 000, you will need a NEP form attested by a bank or by Customs and Excise. Please enquire at your nearest FNB branch should you need this form.

Close

Qualifying criteria

  1. FNB Online Banking
  2. FNB qualifying account

Close

Documents needed

  • You'll need to ensure that you comply with all South African Reserve Bank regulations as this is a cross-border payment.
  • When capturing your payment online, you will be notified of what documentation is required when you select the reason for your payment. Depending on the nature of the transaction when sending funds abroad; you may be required to supply additional information.
  • Alternatively, contact the Forex Advisory Team and we will assist you.

Close

What you get

We make use of the SWIFT method of transferring funds and guarantee a secure, fast, standardised transfer service to suit your needs.

  • Personalised exchange rates
  • Competitive fees
  • Available 24/7/365 via Online Banking or the FNB Banking App on your smartphone
  • Simplify the process with the ability to upload documents, and save your beneficiaries online
  • Payments are securely processed on the FNB electronic banking platform
  • Earn up to 50% back in eBucks on the transaction charges when making payments in foreign currency online or via the FNB App.
  • Confirmation of your payment will be emailed to you upon completion

Close

Balance of payments codes (BoP)

When doing cross-border transactions refer to the balance of payments category codes listed below.

View the BoP Codes (reasons) for all global transactions

Note that some codes also have additional sub-category codes.

Close

Online Banking

Send money abroad using Online Banking

  1. Login to Online Banking
  2. Select the 'Forex' tab
  3. Select 'Global Payments'
  4. Select the Forex menu on the left of the screen and select one of the following:
    • 'Once-off Global Payment' (if this is a once-off payment or first payment to a new recipient)
    • 'Recipients' if this is a repeat payment
  5. Complete and provide all information required regarding your transaction (make sure to have the beneficiary's personal information and banking details on hand)
  6. Select a reason (BoP code) for your payment
  7. Follow screen prompts to complete the transaction.

Receive money from abroad using Online Banking

  1. Login to Online Banking
  2. Select the 'Forex' tab
  3. Select 'Global Receipts' You will be directed to the New Receipts page.
    1. Select Proceed next to the desired transaction to continue and capture the requested payment details.
    2. Select Not for Me if you identify that the funds are not intended for your account.
    3. Select View SWIFT to view the original MT103 SWIFT message.
  4. Follow screen prompts to complete the transaction. You will need to know the reason (BoP code) for the funds being sent to you, e.g. salary, pension, gifts etc as this is required by SARB for reporting purposes.
  5. Complete the transaction details. You will need to know the reason for the funds being sent to you, e.g. salary, pension, gifts etc as this is required by SARB for reporting purposes.

When doing cross-border transactions refer to the balance of payments category codes listed below

View the BoP Codes (reasons) for all global transactions

Close

FNB App

Send money abroad using the FNB App on your smartphone

  1. Login to the FNB App.
  2. Select the 'Forex' tab
  3. Select 'Global Payments'
  4. Select the Forex menu on the left of the screen and select either:
    • 'Once-off Global Payment' , for a once-off payment or first payment to a new recipient.

    • Recipients

      , if you are making a repeat payment.
  5. Complete and provide all the transaction information required.
  6. Select a reason (BoP code) for your payment.
  7. Follow screen prompts to complete the transaction.

Receive money abroad using the FNB App on your smartphone

  1. Login to the FNB App
  2. Select the Forex' tab
  3. Select 'Global Receipts' tab:
    • Select Proceed next to the desired transaction to continue and capture the requested payment details.
    • Select Not for Me if you identify that the funds are not intended for your account.
  4. Complete and provide all the transaction information required.
  5. Select a reason (BoP code) for receiving the payment.
  6. Follow screen prompts to complete the transaction.

When doing cross-border transactions refer to the balance of payments category codes listed below

View the BoP Codes (reasons) for all global transactions

SA's Best Foreign Exchange Provider for 8 years running*

Save on fees when you transact online or via the FNB App

Through our electronic channels, you can send, receive, and invest in foreign currency in a few simple steps.
Not only can you do global payments on the go, you also save on fees and earn eBucks.

Global Finance World's Best FX Providers 2017 - 2024

What you get

A secure + fast service guaranteed

We make use of the SWIFT method of transferring funds and guarantee a secure, fast, standardised transfer service to suit your needs.

How it works

Send money globally

Make sure you have the banking details and personal information of the beneficiary as well as the reason for your payment.

Online

How to make a global payment online

Read more

FNB App

How to make a global payment on the FNB Banking App

Read more

Balance of payments codes (BoP)

Cross-border transaction reporting guaranteed

As an Authorised Dealer in foreign exchange, FirstRand and its divisions (including RMB and FNB) are required to report cross-border customer transactions to the South African Reserve Bank. This system of reporting is called balance of payments reporting or BoP reporting for short.

Getting it made easy

Call me back
Find a branch

Qualifying criteria

Documents needed

 

FNB Online Banking
FNB Banking App

Pricing Guide and Rules

First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider 1929/001225/06 (NCRCP20).