Bank transfer vs 80eight

Both routes are supervised, though not under the same authorisation. 80eight is a licensed South African financial services provider (FSP 49010), regulated by the FSCA, and an accountable institution under FICA — so the same identification and reporting obligations apply to money moving through us as apply at a bank. Authorised Dealer status is separate: it is the South African Reserve Bank's authorisation to deal in foreign exchange, it sits with the banks, and an exchange-control transfer is reported by the Authorised Dealer handling it. The practical difference between the two routes is speed and how the cost is disclosed, not whether the route is supervised.

Because most of it is not a fee. Banks earn the majority of the cost on a cross-border payment through the margin applied to the exchange rate, which moves during the day and differs by product and by customer. A single published number would be wrong for most readers most of the time, so we show the range and tell you where it came from.

Yes. Your Single Discretionary Allowance and Foreign Investment Allowance are set by the South African Reserve Bank and apply to the person, not to the route. Both reset on the calendar year, not the tax year. Our offshore-allowance calculator works out which one a transfer draws from, and what it leaves.