ABSA incoming swift payments

[MirageF1]

I've used ABSA before to send and receive money between UK and SA (R <-> £), however I'm expecting some Zloty via a Polish bank ( they don't have option to send Rands) and was wondering if they (ABSA) will accept this currency and will do conversion to Rands this end. I don't see why not, but....

Perhaps ABSA only accept certain currencies via Swift transfers?
Tried to Google online but couldn't come up with anything definitive.
I'm not talking about exchanging Forex at bank... that's a different matter.

Anyone with an ABSA personal account received monies from overseas besides any of the major currencies like GBP, $US, Euro...??

 

[RedViking]

Sorry, don't have a direct answer. But can't see why it would be a problem.

I see Wise list it as a currency (without a bank account no.) , but then the Sender needs to send it from their Wise account.

 

[MirageF1]

Sorry, don't have a direct answer. But can't see why it would be a problem.

I see Wise list it as a currency (without a bank account no.) , but then the Sender needs to send it from their Wise account.

No probs, I have a Shyft account as well, but only way to receive funds into that is via Rands EFT into it!

Std Bank wouldn't even accept £100 Pounds I had left over from a trip at a branch to deposit directly into it.

It's an offshore account, but works like an onshore one for receiving funds. How convenient. Not.

 

[RedViking]

No probs, I have a Shyft account as well, but only way to receive funds into that is via Rands EFT into it!

Std Bank wouldn't even accept £100 Pounds I had left over from a trip at a branch to deposit directly into it.

It's an offshore account, but works like an onshore one for receiving funds. How convenient. Not.

Well, the other option is to open maybe another bank that receives PLN, maybe European Bank account with Wise and send to there. Going to have to convert twice though.

 

[MirageF1]

Well, the other option is to open maybe another bank that receives PLN, maybe European Bank account with Wise and send to there. Going to have to convert twice though.

Exactly. In fact that's what might happen anyway with the incoming Zloties.. they might use an intermediary bank for example in the UK to do R conversion. Who knows. It's all speculation at this stage...

 

[DapperDanMan]

ABSA incoming swift payments​

If it's originating from Russia, don't hold your breath ...

 

[thehuman]

I am receiving money from Australia, send as rands on a monthly basis.
Fnb told me i could ask sender to send in aud instead then i can convert to zar whenever i please.
Meaning south african bank should be able to do conversion of currency.

 

[Speedster]

I am receiving money from Australia, send as rands on a monthly basis.
Fnb told me i could ask sender to send in aud instead then i can convert to zar whenever i please.
Meaning south african bank should be able to do conversion of currency.

It'll probably work out quite a bit better (cheaper) to use Wise as they can make a deposit to an AUD account, and then you convert to ZAR at much better rates within Wise.

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