Transferring money from South Africa to EUR


#1

Hi all,

I have a South African account in ZAR and a German account in EUR. I need to send money on a regular basis back to Germany. What is the best and cheapest way for me?

Sending money from South Africa to an international account will involve some fees.

Has anyone experience using Revolut for this? Or is TransferWise better suited?

Thanks for the help!


#2

Hello,

The Best solution is to open a Revolut account then activate your ZAR account in it.

After that you just have to do a ZAR SWIFT transfer ( you’ll have fees from your or the intermediary bank )

Then in Revolut you’ll be able to exchange your ZAR in EUR :slight_smile:


#3

Hi Mirron,

thanks for the quick reply. What does activate your ZAR account in it mean?
As far as I understand I have to open the Revolut account in Germany, correct? Or can I link two different accounts to it?

For transferring I have to transfer the ZAR amount to the European Revolut ZAR account via Swift. Then I can change to EUR, correct?

Well, that sounds relative cost intensive as I will still have to pay the high bank fees for international money transfers. Or am I wrong?

Thanks. S