Transfer money from UK to SA

[The_Mowgs]

Say someone has worked in the UK without papers and on a visitors VISA and wants to return to SA, how would they move the money (R500k)back to SA?

This is a hypothetical question

 

[maumau]

Someone could bring a few friends on holiday to ZA, each carrying R100k.

 

[deweyzeph]

I don't see what your immigration status in the UK has to do with moving money from the UK to SA. No one cares what your immigration status is when you transfer money. I lived in the UK for 7 years and moved a lot of money back to SA. Never once was I asked my immigration status.

 

[ScottulusMaximus]

I don't see what your immigration status in the UK has to do with moving money from the UK to SA. No one cares what your immigration status is when you transfer money. I lived in the UK for 7 years and moved a lot of money back to SA. Never once was I asked my immigration status.

How did they earn the money if they were just there visiting? That's the question the bank may ask...

 

[deweyzeph]

How did they earn the money if they were just there visiting? That's the question the bank may ask...

You're overthinking it. No one cares how you earned it. Foreign exchange controls are non-existent in the UK. You don't even have to go to a bank to transfer money overseas from the UK. You can do online from the comfort of your laptop.

 

[HavocXphere]

You're overthinking it. No one cares how you earned it.

Thanks to AML and KYC they do now.

500k isn't likely to draw much attention though.

 

[The_Mowgs]

Thanks to AML and KYC they do now.

500k isn't likely to draw much attention though.

So if you move that much at once to a SA bank account it would be fine? SARB wont have a problem with it?

 

[Hamish McPanji]

So if you move that much at once to a SA bank account it would be fine? SARB wont have a problem with it?

I think the yearly limit is 1million. I would do it in batches of 170k though

 

[HavocXphere]

So if you move that much at once to a SA bank account it would be fine? SARB wont have a problem with it?

The SARB isn't the issue.

The bank is more likely to be. A bit like this:

http://citizen.co.za/news/news-nati...umas-wife-to-explain-millions-in-her-account/

 

[bwana]

Say someone has worked in the UK without papers and on a visitors VISA and wants to return to SA, how would they move the money (R500k)back to SA?

This is a hypothetical question

Do you, sorry they, have a U.K. bank account?

 

[Pho3nix]

Money is in a bank account right? Just send it over. Anything else becomes taxing and you'd have to give a cut to anyone who helped you

 

[The_Mowgs]

Do you, sorry they, have a U.K. bank account?

Yes they have access to a UK bank account

 

[Hamish McPanji]

Yes they have access to a UK bank account

I use transferwise . Much cheaper than the banks, and give the middle rate.

As opposed to a bank

Check out the savings. More than £1800 difference

 

[HavocXphere]

Kinda impressed that someone managed to accumulate half a bar without papers. If you think about it in the ZA context that's pretty wild.

Were [-]you[/-] your friend living a spartan lifestyle or was this over multiple years?

 

[The_Mowgs]

Kinda impressed that someone managed to accumulate half a bar without papers. If you think about it in the ZA context that's pretty wild.

Were [-]you[/-] your friend living a spartan lifestyle or was this over multiple years?

Firstly, this is hypothetical, secondly its not me and lastly, this was over 6 months and the person did not have to pay any rent.

But as I said, its hypothetical.

 

[Mr Scratch]

Firstly, this is hypothetical, secondly its not me and lastly, this was over 6 months and the person did not have to pay any rent.

But as I said, its hypothetical.

The fact that you said its not you AND that its hypothetical... whatever.

That's quite the sum in such a short time. I'm impressed!

 

[The_Mowgs]

The fact that you said its not you AND that its hypothetical... whatever.

That's quite the sum in such a short time. I'm impressed!

Im keeping with the hypothetical seeing as its illegal to work in the UK without the necessary papers and we are not allowed to discuss illegal activities on the forum.

And its really not me in the scenario although I would really not mind R500k in 6 months.

 

[Hamish McPanji]

The fact that you said its not you AND that its hypothetical... whatever.

That's quite the sum in such a short time. I'm impressed!

Kinda impressed that someone managed to accumulate half a bar without papers. If you think about it in the ZA context that's pretty wild.

Were [-]you[/-] your friend living a spartan lifestyle or was this over multiple years?

Selling pornographic whatsapp videos seems to be a lucrative business.

/Pulls out the captain
/Records
/Sends to the complex whatsapp discussion group
/screenshots
/Shares on social media

 

[HavocXphere]

Firstly, this is hypothetical, secondly its not me and lastly, this was over 6 months and the person did not have to pay any rent.

But as I said, its hypothetical.

Holy hell.

I was expecting you to say 2 years and even that wouldn't be bad.

Anyway, tell your hypothetical friend well done. That's a fair bit of coin to accumulate.

I'm guessing stripper or similar...don't see anything else paying on that level without papers.

 

[JayM]

Holy hell.

I was expecting you to say 2 years and even that wouldn't be bad.

Anyway, tell your hypothetical friend well done. That's a fair bit of coin to accumulate.

I'm guessing stripper or similar...don't see anything else paying on that level without papers.

He should tell his mate he should have left the 'proceeds' in bitcoin.