Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Community

A one-stop forum for all your banking questions

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

 

Contributors
Version history
Revision #:
1 of 1
Last update:
‎22-12-2016 11:40 AM
Updated by: