STEP BY STEP PROCESS
Whether you are a business or an individual buying foreign currency to pay for imports or selling foreign currency received for exporting your goods the exchange rates and the processes are the same:
We like to meet all our clients first so that we fully understand your individual requirements, learn about your seasonal buying patterns and provide information on currency movements which may be advantageous or disadvantageous to your business. During the meeting we will also discuss our terms and conditions and collect all the required FICA compliance documentation in order to open a settlement account in your name with our bankers. This is a regulatory requirement. We are an authorised financial services provider and registered with FIC and comply with all Anti-Money Laundering Regulations and South African Reserve Bank (‘SARB’) Regulations. Once the account opening procedures have been completed we will provide all the contact details you need to make use of our services.
When you wish to buy or sell foreign currency you can telephone, email or fax us. We can discuss the rate or simply action your instructions. We can deal on a spot, same day, next day or forward basis. We will explain the differences and the conditions that apply in each case when you contact us.
Once a deal has been done you will receive via email or fax a written ‘deal confirmation’. It confirms the currency purchased, the exchange rate, the value date and any actions required to be taken by you.
On acceptance of the deal our driver will collect any required documentation in terms of Exchange Control from your offices.
Once your deposit (electronic funds transfer) has been received we will present the documentation to the bank and release your payment. On completion we return stamped documents to you if required.
Repeat Steps 2 to 5 as often as you wish, either using the same beneficiary details or providing new ones.
Clients can choose to be kept informed at every stage of the process and be provided with a proof of payment at no extra cost. Cut off times for the receipt of deposits and sending of payments will be explained in detail during the introductory meeting
WITHIN SA: 011 807 3715 OUTSIDE SA: +27 11 807 3715