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As fellow Commonwealth nations, Australia and South Africa enjoy close ties on the international stage. Although we often go toe-to-toe in some pretty intense battles on the cricket and rugby fields, our countries nonetheless enjoy a solid friendship.
This means that if you ever need to send money to South Africa, there are plenty of ways to go about it. From banks to dedicated money transfer companies, it’s easy to find a fast and convenient way to send funds overseas.
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When they need to send money overseas, many people simply head straight for their bank. This is understandable, as most Australian banks will be happy to transfer money to South Africa for you and you conveniently already have an account established.
However, banks charge high fees for international money transfers and only ever offer exchange rates well below the market, which can end up costing you quite a lot of money. Keeping this in mind, you will usually be far better off using a specialist money transfer company. These companies offer better exchange rates, lower fees and often faster turnaround times than banks, making them a far better option for international money transfers. But it's always best to compare your options to make sure you choose the one best for you. As Hansie’s comparison table shows, he can send more than 700 ZAR extra by using a money transfer company, while he can also save $21 in transfer fees.Hansie Sends Money to South Africa
Although he’s living and working in Australia, Hansie wants to send $2,000 of his hard earned cash back to his brother in South Africa. Disappointed by the cost involved in sending the funds via his bank, Hansie decides to compare these with the features of a money transfer service. The results of his comparison can be seen below.Bank Money Transfer Service Exchange rate 1 AUD = 9.139 ZAR 1 AUD = 9.372 ZAR Transfer fee $25 $4 Transfer time 2-5 days 24-48 hours Transfer options Bank account transfer Bank account transfer Amount received (in South African Rand) 18,004.45 18,706.51
In times of emergency, you may need to send some money to South Africa as quickly as possible. Unfortunately, in such cases it can be quite easy to forget the importance of reading all the fine print associated with your transaction.
With this in mind, take a few extra moments to make sure you’re fully aware of the exchange rate and fees that will apply to your international money transfer. This is the best way to ensure that you get a good deal and you don’t end up with an unpleasant surprise when you next check your bank balance.
Back to topIf you want to send funds that can be picked up in cash by your recipient in South Africa within minutes, Western Union and MoneyGram can help. Remember that the recipient will need to take along some details of the transaction and proof of ID to pick up any cash, while they may also need to phone ahead and confirm arrangements if picking up a large sum. Some popular MoneyGram and Western Union cash pickup locations in South Africa are listed below.
Balfour Park Shopping Centre
Shop No 181 Balfour Park
Johannesburg, Gauteng
+27-11-4407800
Open 8:30am to 4:30pm Monday to Friday, open 9am to 12pm Saturday
Shop 138a
Cnr Hendrik Potgieter And Christiaan De Wet
Johannesburg, Gauteng
+27-11-4759464
Open 8:30am to 4:30pm Monday to Friday, open 9am to 12pm Saturday
Union Castle Building Vanda Waterfront
Cape Town, Western Cape
+27-21-4155700
Open 8:30am to 3:30pm Monday to Friday, open 8am to 11am Saturday
Shop E27, Bayside Shopping Cen
Blouberg Road
Cape Town, Cape Town
+27-021-5574742
Open 9am to 6pm Monday to Friday, open 9am to 3pm Saturday and Sunday
Johannes
Commissioner St
Johannesburg, 2000
112218700
Open 9am to 3:30pm Monday to Friday, 8:30am to 12pm Saturday
30 Diagonal St
Johannesburg, 2001
860136739
Open 12am to 11:59pm 7 days
Shop 14 Adelphi Centre Main St Sea Point
CAPE TOWN, 8001
4397529
Open 8am to 6pm Monday to Friday, 8am to 2pm Saturday
82 Adderley St
Cape Town, 8000
214876000
Open 9am to 3:30pm Monday to Friday, 8:30am to 12pm Saturday
Thanks to South Africa’s high crime rate, Australians visiting this beautiful country are encouraged to ‘exercise a high degree of caution’ by the Department of Foreign Affairs and Trade. With this in mind, you’ll need to be extremely careful if you’re picking up cash in South Africa.
As always, make sure to avoid the worst parts of town and keep your wits about you for anyone acting suspiciously. Take a friend or two along when you pick up your funds - safety can be found in numbers and this is a big deterrent to thieves - and don’t publicise the fact that you’ve just come into possession of a big stack of cash. Finally, head straight to your bank and deposit the funds as soon as possible.
Back to topAs you can see, there are plenty of options available when you want to send money to South Africa. However, the exact method for sending your transfer will differ depending on the transfer provider you choose.
In most cases you’ll need to open an account and prove who you are before you can complete a transaction, so you’ll need to supply your name, contact details, date of birth and proof of ID. Finally, remember to keep a hold of any receipt you receive to ensure that you can track the progress of your funds as they make their way overseas.
It’s easier and more affordable than ever to send money from Australia to South Africa, but make sure you compare the services of different money transfer providers before choosing one. Of course, the best place to begin your comparison is at finder.com.au.
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