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This method is available to South African or international clients. This is an international payment method offered by most, but not all, banks. Most offer it through their respective online banking platforms.
The navigation of your banking app or platform may differ slightly from the below steps, so it may be helpful to search how to make an international payment from your specific bank. For most banks, you'll need to take the following steps:
- Log in to your banking app
- Select forex/ international payment option
- Enter SWIFT beneficiary details
- Make payment
Helpful info to have on hand
You can find these details on the Deposit page of your EasyEquities USD account
We recommend that you avoid using the 512/07 (foreign investments - other) code
We recommend selecting the OUR option, which indicates that you will pay all transfer charges separately to the amount of dollars you send. This ensures the amount you intended to fund your account with will arrive in your EasyEquities USD account.
Alternative options include: SHA (shared) which means you only pay your bank's outgoing transfer charge and the amount that arrives in our US account would be less than what you intended.
Address Line 1
25 Owl Street
Suburb
Braamfontein Werf
City
Johannesburg
Province or State
Gauteng
Postal or Zip code
2092
Country
South Africa
Some banks don't accept that and require that you use the address of the receiving bank, in which case, please use the US Bank Address below:
Address Line 1
111 Wall Street
Suburb
New York
City
New York
Province or state
NY
Postal or Zip code
10043
Country
United States of America
Costs
Unfortunately, while reasonably easy to do, transfer by Swift payment for South Africans can be quite costly with most banks charging a minimum fee of between R180 - R250, before the spread on the exchange rate is factored in. If you're only transferring R500, this could mean that 50% or more of the Rand amount could be transfer costs and you'd end up with the dollar equivalent of only R200 arriving in your EasyEquities USD account. This will require high returns before you even break even.
The below table offers the costing information we were able to find for the major banks at the time of publishing this article.
Bank | General Info | Payment Prices & Info |
 | 0.55% Commission | |
 | Please note Capitec do not directly facilitate SWIFT international payments. Kindly contact Capitec for more info and assistance. | N/A |
 | 0.52% Commission | |
 | 0.65% Commission | |
 | 0.59% Commission | |
 | 0.50% Commission |