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The Shyft App - Forex limits & allowances

 How much money can I send using the Shyft app?

Use Shyft to send a maximum of R 1 million per calendar year. This is the legal limit set by the South African Reserve Bank as your single discretionary allowance (SDA).

 

What is a foreign exchange allowance?

South African residents over the age of 18 are entitled to a foreign exchange allowance. These are funds that the South African Reserve Bank lets you use for all your international transactions. A single discretionary allowance is the R1 million allocated to you for international transactions each year. This applies to all your transactions, not just those made using Shyft.

 

More info

  • Foreign exchange allowances explained (PDF)
  • Questions? See the Shyft FAQs for lots of useful information

 

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Last update:
‎22-12-2016 11:40 AM
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