The ZAR Exchange Rate Thread

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Tander said:
How does that benefit one? (Asking out of genuine curiosity, not knowing much about that account )
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It is what am using now. It takes at least a business day to purchase currency. I am still waiting for my transaction I asked for yesterday :(

You get 0.50 interest on the pound account.

You can then transfer globally from this account ,so you can transfer from your global account to your uk bank account.
 
Gtx Gaming said:
It is what am using now. It takes at least a business day to purchase currency. I am still waiting for my transaction I asked for yesterday :(

You get 0.50 interest on the pound account.

You can then transfer globally from this account ,so you can transfer from your global account to your uk bank account.
Click to expand...

Would this be cheaper than say just going to a local ATM (here in the UK) and withdrawing the money out, having the bank do the conversions etc?
As I earn in Rands, and spend in Pounds, I have been just withdrawing from the ATM once a month all the cash I need. However the SO has a UK bank account which I was going to transfer each month my funds into, but the fees seemed much higher than just withdrawing from the ATM.
 
Tander said:
Would this be cheaper than say just going to a local ATM (here in the UK) and withdrawing the money out, having the bank do the conversions etc?
As I earn in Rands, and spend in Pounds, I have been just withdrawing from the ATM once a month all the cash I need. However the SO has a UK bank account which I was going to transfer each month my funds into, but the fees seemed much higher than just withdrawing from the ATM.
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Hmm not sure how much the transfer would cost.

Fnb charges R60 for the transfer from your local account to the global account. Not sure how much it would be from the global account to an UK account.

Going to ask my soon to be father in law if he can open me a UK account while he is in scotland ,he in staying there atm.
 
Looking at the buying / sell rates, going down to the local ATM seems to be the cheapest way to get my money out of SA, even when taking FNB's international withdraw fees into account.
 
Gtx Gaming said:
Going to ask my soon to be father in law if he can open me a UK account while he is in scotland ,he in staying there atm.
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Not going to work. Hell I couldn't even open one when I walked into the bank myself. They wanted proof of being in the UK for 6 months (3 short) and proof of residence (temporary accommodation so didn't have).

Got a UK one eventually by getting my ZA bank to transfer me.
 
Wonder what tomorrow will bring :(
 

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