At Future Forex, we believe that international money transfers from South Africa should be simple, cost-effective, and completely transparent. That’s why we’ve built a straightforward fee structure with no hidden charges or monthly platform costs. Unlike banks that often bury fees in their exchange rates, we disclose everything upfront, so you always know what you’re paying.
We only charge fees on a per-transaction basis, meaning you’re never locked into ongoing charges or unexpected deductions. Our model ensures that you receive clarity, consistency, and the best rates in the market.
Types of fees you’ll encounter when moving money internationally
There are two main types of fees that apply to international payments:
1. Bank admin fee (SWIFT fee)
When sending or receiving funds from abroad, your payment travels through the SWIFT network (Society for Worldwide Interbank Financial Telecommunication). SWIFT is one of the largest financial messaging systems in the world. While it doesn’t actually move your funds itself, it transmits secure instructions between banks to ensure your payment reaches its intended destination accurately and securely. Most South African banks charge SWIFT fees between R500 and R1 000.
Capitec, our banking partner, charges a fixed fee for using the SWIFT system. The fee you pay depends on who carries the cost:
- OUR – The fee is paid on the sender side of the transaction (i.e. all in ZAR).
- SHA/BEN – The fee is “shared” between the sender and receiver side (i.e. in ZAR and foreign currency). As a result, your recipient receives less foreign currency than sent.
Here’s a simple breakdown:
| Type | Send Fee (ZAR) | Receive Fee (ZAR) |
|---|---|---|
| OUR | R500 | R250 |
| SHA/BEN | R250 + Foreign Currency* | R350 |
At Future Forex, we recommend using OUR, as it is the more predictable and typically lower cost overall.
2. Margin or “spread” fee
The second fee type is the exchange rate margin, also known as the “spread.” This fee is percentage-based and is by far the most significant cost in international money transfers. It represents the difference between the rate you see quoted in markets (the “spot rate”) and the rate you actually pay when buying or selling currency.
Unfortunately, banks often inflate this margin without disclosing it, making international payments far more expensive than they appear.
Here’s an example:
- You want to send R1,000,000 to the US.
- The spot rate is R18.00 / $1.00.
- Your bank offers you R18.36 / $1.00 instead.
That extra R0.36 per dollar is the hidden margin. On a R1,000,000 transaction, this works out to 2% of the transaction amount. That equates to R20,000 in additional fees, excluding the SWIFT charge.
This is why spreads matter – even small differences in rates can dramatically increase the overall cost of your transfer.
How Future Forex helps you save on every international payment
At Future Forex, transparency is our ethos. Unlike many of our competitors, we never hide our margins. Instead, we openly disclose our spread and ensure it remains highly competitive. Through our partnership with Capitec Bank, we’ve negotiated preferential spreads that allow us to offer some of the best rates available in South Africa.
Whether you plan to transfer up to R1 million abroad using your Single Discretionary Allowance (SDA) or you require a SARS Approval of International Transfer (AIT) for larger transaction amounts, we’ll handle all your paperwork as a complimentary service. That means less admin for you, and peace of mind knowing your compliance requirements are handled accurately and efficiently.
Why transparency matters
When moving money internationally - whether for property purchases, offshore investments, emigration or import/export transactions - every cent counts. For too long, South Africans have accepted hidden fees and inflated exchange rates as the status quo, which is why we set out to change that. By clearly outlining both the SWIFT fees and the spreads applied, we provide peace of mind and predictable costs every time you transact
With Future Forex, you benefit from better service, clear fee structures, and dedicated support, ensuring your transfers are as seamless and cost-effective as possible.
Business forex made simple
Beyond assisting individuals, Future Forex also offers a range of services tailored to businesses moving money to and from South Africa. Whether your business is settling invoices with overseas suppliers, paying for international licenses, handling offshore payroll, or making import/export payments, we’re here to deliver a quick, seamless and all-in-one solution. Our experts will also assist with your SARB approvals, BoP (Balance of Payment) code submissions, and any other supporting documents at no extra cost.
Learn more about our Personal Forex or Business Forex services or talk to one of our experts to register an account today.