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