reactor_sa
Executive Member
Can I open a bank account in aus when I next visit? Or do I have to be living there? I do have family who's address I could use.
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Moving & Saving Money outside the Rand!
- Thread starter Mortymoose
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HavocXphere
Honorary Master
Park it in a foreign denominated share trading account (that allows non-residents to buy) & buy a world EFT (or leave it as a cash balance)
Just remember...not gonna be cheap. You'll likely need to do a swift transfer if its a decent chunk of money and those fees kinda suck...plus obviously the account fees & trading fees if you go for EFT.
Just remember...not gonna be cheap. You'll likely need to do a swift transfer if its a decent chunk of money and those fees kinda suck...plus obviously the account fees & trading fees if you go for EFT.
Can't you just do that with something like Easy Equities?
mintydroid
Expert Member
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FNB has a Global Account. Quiet a few currency choices. Fees are based on transactions.
https://www.fnb.co.za/travel-products/global-acc.html
https://www.fnb.co.za/travel-products/global-acc.html
HavocXphere
Honorary Master
Its not about the EFT, its about moving the money out of SA. The EFT part is just an afterthought.
Bank accounts are generally a bit trick. e.g. In the UK you have to be there 6 months minimum / be resident.
HavocXphere
Honorary Master
Rand seems safer...
BC could go up or down significantly so not ideal for someone just wanting stability
Sonic2k
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For those who wonder about NZ.
You can open a bank account there, if you have filed your EOI at least, the only catch is you cannot withdraw the funds until you get that side and are issued with your bank card and PIN, but other than that its a simple matter.
You can open a bank account there, if you have filed your EOI at least, the only catch is you cannot withdraw the funds until you get that side and are issued with your bank card and PIN, but other than that its a simple matter.
I use E4F to send cash overseas. If you do more than R100K at a time, they waive the fees, and their rates are pretty decent too.
patrick
Expert Member
What is E4F if you don't mind me asking?
Mortymoose
Honorary Master
How do we know that they are legit and that your colonial earned money is not going to land up in Yuri's post box in Bratislava?