Cost of paying R100k with a Nedbank credit card vs swift internationally

[Not_original]

Hey there folks. What would be the cheapest option of parting with my money internationally to the tune of R100k ?

 

[callvm]

Probably swift, CC's have higher fees for currency conversion I think

 

["D"]

@gertvanjoe That's a lot of drugs, man. Consider the transport logistics and the risks, then reconsider?

 

[Not_original]

@gertvanjoe That's a lot of drugs, man. Consider the transport logistics and the risks, then reconsider?

a lot? ..... a lot? It's merely a kilo of powder, sir. Baking powder.....

No it's not baking powder

Oh sir, you should see me baking in the sun if I take this, I can assure you this stuff is baking powder

 

[Snyper564]

Hey there folks. What would be the cheapest option of parting with my money internationally to the tune of R100k ?

cant even do 100k on a cc internationally

The SARB is making it difficult for start-ups to pay their Amazon bills

Small business owners in South Africa are running into one of the Reserve Bank’s exchange control limits.

mybroadband.co.za

TLDR



If this is related to crypto you cant use your CC at all

South African Banks Block Crypto Trading on International Exchanges: Report

Customers of Johannesburg-based bank Absa received an error message when attempting to buy crypto on Binance.

www.coindesk.com

TLDR



SWIFT is your only option

If this is related to crypto swift is also 100% legal

 

[ScottulusMaximus]

Yeah a forex transaction is limited to 50k on a cc. You can get this increased but it's a ball ache.

A standard swift transfer is much cheaper as well.

 

[Not_original]

OK so swift it is then.

 

[richjdavies]

Just make sure you get a good broker to manage the FX and SARB requirements... Your bank will rip you off...

 

[Not_original]

Just make sure you get a good broker to manage the FX and SARB requirements... Your bank will rip you off...

Any idea of the quote difference between bank and broker

 

[callvm]

Bank is around 1.7-2% above 'mid-market rates', depending on volume, broker can be anywhere from 0.5 - 1.5% depending on broker and volume. Also, if you're doing crypto arb have you checked out https://shiftly.co.za/

 

[Not_original]

Bank is around 1.7-2% above 'mid-market rates', depending on volume, broker can be anywhere from 0.5 - 1.5% depending on broker and volume. Also, if you're doing crypto arb have you checked out https://shiftly.co.za/

Decided against arbing. With my 1 mil cap and all the fees and or profit grabbers along the way I could just as well stick it in a 1 year fixed term investment. Yes me and my wife can both use the same monies to each fill out 1 year cap but its just too much hassle for not that great of a return. Unless you can convince and show me a few stats and figures of your own.