Non-resident banking
Looking to do your banking in South Africa while living in another country? We have the one-stop solution for you.
Some of the benefits
Specialised services
You can easily apply for a transactional account, savings and investment account, or a home loan while living abroad
Online banking
Manage your assets and financial interest in South Africa online, wherever you are in the world
Low cost
Pay no VAT on banking fees as long as you’re living and transacting outside of South Africa
Convenience
Switch your account to a local financial solution at your nearest branch when you visit South Africa
Have you emigrated?
As a South African citizen or permanent resident who has formally emigrated (private individuals who have ceased to be residents for tax purposes), you can still enjoy local banking products:
- Transact with a non-resident bank account for your everyday needs
- Fund a property by getting a loan of up to 50% of the property value
- Invest and save through a range of savings and investment products
We will also help you transfer your assets abroad, provided you:
- have ceased to be a resident for tax purposes in South Africa;
- have obtained a Tax Compliance Status (TCS) PIN in respect of emigration from the South African Revenue Service (SARS); and
- are tax compliant upon verification of the Tax Compliance Status (TCS).
If you have formally emigrated and want to inquire about opening a non-resident account, please contact us at [email protected]
Let us help you transact
Here are some of the ways we can help you move your money across borders:
- Online Banking
Get a card and register for Online Banking to:- Make local payments to South African bank accounts
- View and download your bank statements
- International transfers
- Standing instructions are a way of making automatic payments through the bank for a fixed amount on regular intervals (annually, quarterly, monthly, or weekly upon request) by debiting your active account.
- Document required for international transfer (Standing Instruction (SI) form). Send your completed form to [email protected]
- Automated payments
- Make automatic payments for a fixed amount at regular intervals (annually, quarterly, monthly, or weekly upon request) by debiting your current or savings account
- Download, complete and send your Standing Instruction (SI) form to [email protected]
What it costs
The bank fees you’ll pay depends on the type of account you choose and the type of transactions you make.
- Annual fee for safe custody and share-related transactions: R447
- Renewal fee: R1 050
- Outward International Payments (excluding travel-related transactions) sent to parties outside the Common Monetary Area ‒ foreign currency and Rand: 0.60%
- Standing Instructions: additional R75 to outward international fees
- Exemption from Reg 3(1)(f): R1 589
- Written/ Electronic (Exceptions) application: R1 589
- Application to remit funds in excess of R10 million: R1 589
Documents required
To start banking as a non-resident, you’ll need certified copies of:
- Your valid passport
- Proof of address not older than 3 months
- 3 Months’ statements from your offshore bank account
- Proof of income
You’ll also need to complete, sign and send the following forms to [email protected]
- Non-resident account application
- Card application
- Card Indemnity
- Financial Advisory and Intermediary Services (FAIS)
- Terms and conditions for the Trade Customer Foreign Currency account
- MyMo, MyMo Plus and Puresave
- General terms and conditions
- Personal Information for additional signatory
- Product specific terms and conditions
- Terms and conditions for Personal Transaction Accounts
- Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) Individual Self-Certification
Faqs
To learn more view our Frequently Asked Questions
-
Have you emigrated?
-
Let us help you transact
-
What it costs
-
Documents required
-
Faqs
As a South African citizen or permanent resident who has formally emigrated (private individuals who have ceased to be residents for tax purposes), you can still enjoy local banking products:
- Transact with a non-resident bank account for your everyday needs
- Fund a property by getting a loan of up to 50% of the property value
- Invest and save through a range of savings and investment products
We will also help you transfer your assets abroad, provided you:
- have ceased to be a resident for tax purposes in South Africa;
- have obtained a Tax Compliance Status (TCS) PIN in respect of emigration from the South African Revenue Service (SARS); and
- are tax compliant upon verification of the Tax Compliance Status (TCS).
If you have formally emigrated and want to inquire about opening a non-resident account, please contact us at [email protected]
Here are some of the ways we can help you move your money across borders:
- Online Banking
Get a card and register for Online Banking to:- Make local payments to South African bank accounts
- View and download your bank statements
- International transfers
- Standing instructions are a way of making automatic payments through the bank for a fixed amount on regular intervals (annually, quarterly, monthly, or weekly upon request) by debiting your active account.
- Document required for international transfer (Standing Instruction (SI) form). Send your completed form to [email protected]
- Automated payments
- Make automatic payments for a fixed amount at regular intervals (annually, quarterly, monthly, or weekly upon request) by debiting your current or savings account
- Download, complete and send your Standing Instruction (SI) form to [email protected]
The bank fees you’ll pay depends on the type of account you choose and the type of transactions you make.
- Annual fee for safe custody and share-related transactions: R447
- Renewal fee: R1 050
- Outward International Payments (excluding travel-related transactions) sent to parties outside the Common Monetary Area ‒ foreign currency and Rand: 0.60%
- Standing Instructions: additional R75 to outward international fees
- Exemption from Reg 3(1)(f): R1 589
- Written/ Electronic (Exceptions) application: R1 589
- Application to remit funds in excess of R10 million: R1 589
To start banking as a non-resident, you’ll need certified copies of:
- Your valid passport
- Proof of address not older than 3 months
- 3 Months’ statements from your offshore bank account
- Proof of income
You’ll also need to complete, sign and send the following forms to [email protected]
- Non-resident account application
- Card application
- Card Indemnity
- Financial Advisory and Intermediary Services (FAIS)
- Terms and conditions for the Trade Customer Foreign Currency account
- MyMo, MyMo Plus and Puresave
- General terms and conditions
- Personal Information for additional signatory
- Product specific terms and conditions
- Terms and conditions for Personal Transaction Accounts
- Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) Individual Self-Certification
To learn more view our Frequently Asked Questions
We also offer
Savings and investment accounts
Grow your money the way you choose to, with the help of high interest-earning accounts designed to meet a variety of personal needs, preferences and goals.
International Payments
Grow your business into what you aspire it to be while we take care of your cross-border transactions.
Flexible Funeral Plan
Get affordable funeral cover that suits your lifestyle and fits your pocket.
- Decide who you want to cover and for how much
- Choose your level of benefits
- Cover for yourself, your spouse, children, parents, in-laws, and extended family