Future Forex - A New, Smarter Way to Send Money Abroad

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South Africans moving funds overseas have a new ally, Future Forex. It’s a cheaper, faster, and easier alternative to banks, and it’s revolutionising how international transfers are conducted. South African residents and foreigners residing in South Africa can utilise these services to transfer funds for personal use (e.g., foreign investments, offshore property, or supporting family abroad).

How it works

• Unlike banks that hide fat margins in unfavourable exchange rates, Future Forex uses the real mid-market rate (what you see on Google) and then charges a transparent fee, often 30–50% less than what banks charge.

• Transfers are fully digital, with no paperwork, no queues and most payments arrive faster (within a day or two).

• You also get a dedicated currency specialist as account manager to guide you through.

• No need to be a tax expert. Future Forex handles the SARS approvals and documentation for you.

📌One catch: The minimum transaction threshold is R100,000 per transfer or more so this is clearly not for everyone.

In Conclusion

If you’re still using your bank to transfer money offshore, you’re likely missing out on:

✅ Better exchange rates
✅ No hidden bank fees
✅ Hands-on client support
✅ Tax compliance sorted.

Source Article: MoneyWeb