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How to send money to South Africa

Find out about safe, secure and cost-effective transfer options when you need to send money to South Africa.

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When you need to get money to a loved one in South Africa, the last thing you want to have to deal with is a complicated and expensive process. Sending money from Hong Kong to Johannesburg or Cape Town doesn’t have to be expensive. If you compare the transfer fees and exchange rates of the many options available, you can get the most South African rands for your dollar.

Compare international money transfer services to South Africa

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1 Within an hour HKD 20.00 1.911 ZAR
19,072
提供現金提取、銀行戶口之間轉賬與及Airtime匯款選擇的網上匯款服務,。 WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups. Go to site Show details
USD 10 1 - 2 days HKD 590.00 1.919 ZAR
18,055
以透明的匯率,低收費及低最低金額的網上服務作匯款。 TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
USD 2,000 1 day HKD 0.00 1.89 ZAR
18,899
TorFX保證提供最佳的匯率。需受條款約束。TorFX guarantees to match any competitor's exchange rate.
以30種貨幣匯款到全球。登記後,將會有一個客戶經理提供支持和引導。 TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
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USD 100 1 day HKD 15.00 1.89 ZAR
18,871
非Finder客戶將獲得較昂貴的匯率。 Better exchange rates for Finder customers.
可用45種貨幣匯款。 OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
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USD 5 1 - 2 days HKD 25.00 1.9 ZAR
18,948
新客戶可享有首三個月無限次免手續費匯款。New customers get 3 months of unlimited free transfers.
可用15+種貨幣匯款,享有超越銀行的匯率以及快速轉賬時間。 CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
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GBP 5,000 1 - 2 days HKD 0.00 1.89 ZAR
18,899
可匯款至20+個國家,無手續費。 CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What’s the best way to send money to South Africa?

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to South Africa. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Banks, PayPal and other options are available but come with high fees, weak rates and longer turnaround times.

Digital money transfer services

Companies like OFX and CurrencyTransfer specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s South African bank account, often in as little as a day or two.

Cash transfers

Services like MoneyGram allow you to transfer cash for pickup at a local branch in South Africa— often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees. If a cash pickup is necessary, look to digital services like WorldRemit when possible.

Banks

The South African rand (ZAR) isn’t a popular currency, so your local bank probably won’t be able to exchange HKD for ZAR. If your bank does support the South African rand, beware of high fees and wide margins on the exchange rate compared to digital and other options.

Let’s crunch the numbers: Sending $10,000 to South Africa

Let’s say you need to send $10,000 HKD to ZAR, to family in South Africa. Here’s what you might face as far as fees and exchange rates as of 3 Jan, 2021.

Digital money transfer serviceCash transferBank transfer
Fee25.00 ZAR (~13.219 HKD)8.00 HKD65.00 HKD + additional correspondent bank fees
Exchange rate1.00 HKD = 1.8815 ZAR1.00 HKD = 1.7817 ZAR1.00 HKD = 1.8557 ZAR
Transfer speed1-2 dayMinutes2-5 days
Amount received18,790.00 ZAR17,802.87 ZAR17,208 ZAR
Verdict
  • Best value
  • Fastest
  • Slowest and most expensive

The bank option ends up being both the slowest and gets the smallest amount of money to your recipient. If you go with the digital money transfer service, your recipient ends up with 1,582 ZAR more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to South Africa in as little as 15 minutes.

How to send money to South Africa online

Sign up and send money with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and preferred payment method.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their South African bank account details.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to South Africa. Some money transfer providers send a text or email when your transfer is complete.

How to get the most out of your money transfer to South Africa

Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to South Africa to meet your needs:

  • Exchange rates. The HKD to ZAR relationship fluctuates often, so using a service that allows you to lock-in exchange prices may help you save money down the line.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of South African rand you’re sending.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to South Africa.
  • Minimum limits. Average incomes vary widely between Hong Kong and South Africa, which means companies with high minimums transfers may not be your best choice.
  • Transfer methods. Whether you want money sent to a South African bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

Emergency cash transfer to South Africa

When it’s more important to get your money to South Africa quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to South Africa without a bank account

Cash transfer services can help you if you don’t have a bank account. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.

South Africa’s exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. South Africa’s exchange rate is flexible compared to the HK dollar, which means it sometimes shifts a few rand a month, if not more. Factors that influence the exchange rate include interest rates, economic stability and inflation.

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Updated: 21 Jan 2021 03:06:11 UTC

Documents needed for sending to and receiving money

To send money to South Africa from Hong Kong, you’ll need government-issued ID and other documents, while documents needed to pick up money in South Africa may be different by company.

Documents to send money from Hong Kong

To send money from Hong Kong to South Africa, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s license, passport or other government-issued ID.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, South African bank account and routing number.

Documents to receive money in South Africa

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. A South African passport, a South African National ID card, a South African driver’s license, a foreign passport with visa or refugee card or similar government-issued ID.
  • Proof of address. South African residents may have to prove their address using a utility bill or something similar.
  • Sender’s information. Take along your sender’s full name, the sending country and their address, if known.

What to watch out for

Sending cash to South Africa may subject taxes in South Africa, depending on your sending and receiving situation. The primary tax to pay attention to is the Donations Tax, which is regulated by the South African Revenue Service.

Bottom line

Sending your hard-earned money to South Africa shouldn’t cost a fortune. Compare transfer companies that specialize in foreign for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.

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