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I held some ETFs in my Easy Equities USD account. I have sold them this week and want to withdraw my money into my South African bank account. This is the first time I have withdrawn money from the USD account. My understanding is that I will need to provide my bank (Standard Bank) with a BOP Code so that they can report the transaction to the Reserve Bank. I reached out to Standard Bank to find out what BOP Code I should use and they said they were legally not allowed to help me. Has anybody done a withdrawal? What BOP Code did you use? From looking at the list I would think 515 - 05 would be the one to use as the money is from ETFs which I understand to be treated as collective investment schemes. There is also a small fraction of the amount that is dividends and interest that the ETFs have paid out over time.
I held some ETFs in my Easy Equities USD account. I have sold them this week and want to withdraw my money into my South African bank account. This is the first time I have withdrawn money from the USD account. My understanding is that I will need to provide my bank (Standard Bank) with a BOP Code so that they can report the transaction to the Reserve Bank. I reached out to Standard Bank to find out what BOP Code I should use and they said they were legally not allowed to help me. Has anybody done a withdrawal? What BOP Code did you use? From looking at the list I would think 515 - 05 would be the one to use as the money is from ETFs which I understand to be treated as collective investment schemes. There is also a small fraction of the amount that is dividends and interest that the ETFs have paid out over time.