Your international payments could be simpler, faster and more cost-effective

Whether it’s emigrating, buying investment property offshore, transferring a retirement fund or settling a foreign inheritance, there are many reasons South Africans may need to move significant amounts of money across borders. 

For some, it may be one of the largest financial transactions they’ll ever make. For others, international transfers are a regular part of managing their finances, from receiving foreign income to managing an import/export business. 

But whether it’s a once-off transfer or a recurring international payment, the process is rarely as straightforward as it should be. Exchange control requirements, documentation and service split across multiple bank departments make cross-border payments slow and administratively demanding. 

And for a service that’s largely transactional, the banks’ costs can be surprisingly high.

The fee that doesn't appear on the invoice

Ask most people what an international transfer costs and they'll point to SWIFT charges or a processing fee. These are the visible costs, and usually the smallest ones.

The larger cost sits inside the exchange rate itself. The rate you see on Google is typically the mid-market rate, the midpoint between a currency's buy and sell price. Banks commonly add a margin of 2–3% on top of it, and because that margin is built into the rate rather than listed as a separate fee, it rarely registers.

The numbers add up quickly. On a R2.5 million offshore property payment, for example, a 2% markup amounts to R50,000 - before any transfer fees are applied. For those paid in a foreign currency, the same margin is deducted from every time you bring that income home.

"Most clients are surprised when they see what the exchange rate margin has cost them over the years," says Harry Scherzer, CEO of Future Forex and a qualified actuary. “These costs are deliberately difficult to work out, and the banks have never had much incentive to change that.” 

A different model for moving money across borders

Future Forex, South Africa's largest independent foreign exchange intermediary, was built around a simple premise: Moving money internationally should be simple, transparent and cost-effective. By combining proprietary technology with economies of scale, the multi-award-winning fintech offers competitive exchange rates while giving clients a complete view of what they're paying and why.

For individuals, this can mean savings of up to 50% compared with traditional channels, while SMEs can save up to 30%.

"Transparency has always been a non-negotiable for us. Ultimately, we want to make financial services fairer and more accessible to South Africans, and that starts with giving clients clarity on costs and better value for their money.”

An all-in-one service 

While a competitive rate matters, it’s also only one part of a successful transaction. When it comes to larger transfers, much of the complexity happens long before the funds move.

Depending on the transaction, clients may need an Approval of International Transfer (AIT), supporting documentation or South African Reserve Bank approval. Navigating these requirements can be time-consuming, particularly when additional information is requested or documentation needs to be corrected.

That’s why every Future Forex client works with a dedicated Account Manager who helps manage the process from initial documentation through to final settlement. From explaining which documents are required to coordinating the steps involved and providing updates along the way, the Account Manager serves as a single point of contact throughout the transaction, all at no additional cost.

For those emigrating from South Africa, Future Forex can also assist with the tax emigration process, including the relevant SARS requirements. This brings foreign exchange and tax-related support together, helping clients manage the different elements of moving their financial affairs offshore without having to coordinate each process independently.

"Large international transfers often happen alongside important life or business decisions," says Scherzer. "Our role is to eliminate the regulatory and administrative load, so clients can focus on what matters to them.”

Technology that supports, rather than replaces, expertise

Alongside its specialist team, Future Forex offers an online platform and mobile app through which clients can track live exchange rates, book transactions, manage beneficiaries, follow payments in real time and access their full transaction history.

The technology removes the friction from routine tasks. The Account Managers bring the judgement and experience that complex cross-border transactions require.

That combination has made Future Forex a leading name in SA’s foreign exchange industry. The company has processed more than R85 billion in foreign exchange transactions, holds a 4.9-star Google rating and has received a number of industry accolades - among them Company of the Year at the 2025 Africa Career Summit and second place in News24 and Statista's South Africa's Growth Champions 2026 list.

Follow this link to speak to a Future Forex specialist or request a tailored quote for your next international transfer.

Future Forex is an authorised financial services provider (FSP 51884).