Transactions involving the flow of funds in and out of South Africa for individuals utilising their foreign investment allowance (FIA) and/or discretionary allowance, or settlement of invoices for services rendered.
As an additional service to our clients who have Investec Corporate Cash Manager accounts, we act as an intermediary to facilitate foreign exchange transactions. These transactions include foreign investment allowance (FIA) and discretionary allowance or settlement of invoices for services rendered. This service allows outgoing and incoming funds to flow directly either from or into clients’ corporate cash manager accounts. As intermediaries, we ensure that clients submit the correct compliance documentation for forex transactions as required by the South African Reserve Bank, assist with tax clearance if applicable and conclude spot/forward transactions with Investec.