Promoted for
Smaller transfers
Promoted for
Bigger transfers
Promoted for
Cash pick-up
Promoted for
Business transfers
Using a dedicated money transfer service could let you send money to CSouth Africa more cheaply than with your bank. Use the table below to compare quotes from a range of popular transfer providers to see which could get you more South African rands for your pounds.
Compare quotes for sending money to South Africa
1 - 20 of 20
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Please note: You should always refer to quotes you receive from transfer services themselves directly for exact amounts as they may vary from our estimates.
Here’s our simple process for sending a money transfer to South Africa as a cash pickup or bank transfer – the two options are similar:
How to send money to South Africa from the UK
- Compare transfer services. Use our table above to compare quotes for sending GBP to South Africa.
- Register for an account. You'll need to give your name, address, contact details and confirm your ID (which typically involves submitting a selfie along with a photo of the page in your passport which has your headshot).
- Provide recipient details. Enter your recipient's name and contact information. If you're sending straight to their South African bank account, you'll need their account details – namely their "IBAN" and their bank's "SWIFT" code.
- Enter the transfer amount. Double-check you're happy with the fees, exchange rates, transfer speed and the amount of South African rands your recipient will receive.
- Complete your transfer. Add your payment details and action your transfer to South Africa! Keep any reference safe so you can track your transfer (your recipient may need this).
The whole process can take as little as 1 hour and all you'll need is a smartphone or computer, an internet connection, your passport or driving licence, your recipient's account details and a means of payment.
If you send to a South African bank account, your recipient will need to wait for the funds to arrive. For a cash pick up, your recipient in South Africa might be able to pick it up as soon as payment has cleared. They’ll need to show some form of photo ID in order to pick up the funds and may additionaly require a reference number and details of the sender and amount.
Case Study: Anika sends money to South Africa
Anika has been living and working in the UK for a PR agency for several years, but she needs to transfer funds back home to South Africa to cover work on a property. She needs to send her contractor 45,000 ZAR from the UK.
Having been disappointed by the rate quoted by her bank, she compares two money transfer companies to see which one can save her the most money on her transaction.
| Money transfer firm 1 | Money transfer firm 2 | |
|---|---|---|
| Exchange rate | 1 GBP = 19.71 ZAR | 1 GBP = 19.91 ZAR |
| Transfer fee | £1.99 | £2.50 |
| Transfer method | Bank account deposit | Bank account deposit |
| Processing time | Same day | Next day |
| Overall cost | £2,285.15 | £2,262.71 |
As you can see, while the transfer fee is slightly higher for the second company, it allows Anika to save £22.44. The funds are transferred straight to her contractor's Standard Bank account.
How much does it cost to send money to South Africa from the UK?
The cost of sending money to South Africa from the UK depends on the GBP to ZAR exchange rate applied to the transfer, plus any fees incurred.
Exchange rates
The “mid-market” or “interbank” rate is the that banks and transfer services use to trade between one another. It’s the best rate going. To cover costs and make some profit, transfer services either give consumers a slightly less preferential rate or charge a transfer fee. In a few cases, they might do both.
If you’re not in a rush, companies like TorFX let you set “rate targets” so that your transfer can be automatically executed if and when the exchange rate hits a target you set. This can translate into meaningful savings, especially on larger transfers.
Transfer fees
Transfer fees can take the form of a flat fee (e.g. £5) or a percentage fee (e.g. 0.5% of the amount being transferred). As well as varying from brand to brand the fee at a specific brand might vary according to the service you require (a cash pick-up or a faster transfer could cost more, for example).
Discounts
Some transfer services offer a discount to new customers. Ultimately you just want to look at how may South African rands they’re promising you for your pounds. That’s the easiest way to find the best deal.
Is this a good time to send money to South Africa?
Compared to a month ago, the pound is stronger against the South African rand. Currently £7,000 is equivalent to R140,067.90, whereas a month ago, £7,000 was equivalent to R135,701.30. That's an increase of 3.22% over the past month .
Similarly, compared to a year ago, the pound is again stronger against the South African rand. A year ago, £7,000 was equivalent to R138,147.10. That's an increase of 1.39% over 12 months.
So based on those two quick glances back, yes, it's a relatively good time to send money to South Africa, and your pounds will go further than they would have. But what's more important, however, is where the strength of the pound against the South African rand goes from here – which is harder to call.
Ready to compare rates?
Other frequently asked questions
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
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Ask an Expert
i want to do a transfer from a bank in uk to south africa…according to the bank i must first pay a fee here in south africa which is a demuurage fee…as soon as it is paid then only they can make the transfer…i ask them to deduct the fee from the uk account as this account is also under my name…they say they cant…is this legal at some banks in uk???
Hi Wendy,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
That depends on your bank, while banks can certainly send money overseas for you, their fees are often higher compared to companies that specialize in international money transfers. You may refer to this page for other options that may suit your needs. You may review and compare the offers available on the table. Once you have selected one, you may proceed by clicking the green “Go to Site” button.
I hope this helps.
Cheers,
Danielle