03

How long will it take for my payment to reach China?

Most international transfers to China are completed within a day. For major currencies, we can also make same day delivery payments providing your deal is settled before 12:00 midday. As soon as your payment has been sent to China, we’ll send you a SWIFT confirmation for the transfer.

04

What banking information do I need to send money to China?

When sending money to China, you will need to provide the following bank account details:

• Full name of account holder
• Bank Name and Branch details
• Account Number
• BIC / SWIFT code

05

What is the best way to send money to China?

We’ve made it really quick and easy to pay foreign suppliers in China. When you open a free account online, we’ll give you access to our easy to use online platform where you can buy and transfer funds to China at the click of a button.

06

How to transfer money to China online?

Transferring money from South Africa to China is quick and easy online. All you need to do is follow these steps:

1. Register online and we’ll open a free account for you in your name
2. Login, select the amount you want to send to China and secure a great rate.
3. Next, you’ll need to fund your account in order to pay for your currency.
4. Finally, complete the online payment instructions for the account you want to pay.
5. That’s it! Sit back, relax, and wait for your currency to arrive.

07

How much money can I transfer out of South Africa per year?

As a South African resident, you can transfer a total of R11 million out of the country each year using your allowances. Taxpayers over the age of 18 who are South African residents are eligible for the following allowances:

• R1 million single discretionary allowance (no tax clearance required from SARS)
• R10 million foreign investment allowance (FIA tax clearance is required from SARS)

08

How do I know my funds are safe?

FX Paymaster is an Authorised and Regulated Foreign Exchange Intermediary in South Africa – FSP: 46213. All deals are executed in the clients name directly with an Authorised Dealer Bank. We are here to help you get the best exchange rates and to ensure your payments go off quickly and smoothly. When sending money to China, you will always transfer funds into your own account, we never handle your money directly.