Send Money To South Africa

About The South African Rand

The rand was introduced in the Union of South Africa on 14 February 1961, three months before the country declared itself a republic. It replaced the South African pound as legal tender. The government also introduced a mascot, Decimal Dan, "the rand-cent man" (known in Afrikaans as Daan Desimaal).

Recently, the rand has had a strong period against the dollar and some other major currencies. Many people think this is due to the current weakness of other currencies rather than any big shift in the South African economy. For those looking to Send Money To South Africa, this could be an advantageous time.

Fun fact: In July 2018, a special series of banknotes was released to commemorate the 100th anniversary of Nelson Mandela's birth. The notes have Mandela’s face on one side, but instead of the usual Big Five animals on the reverse, they show a younger Mandela with different iconic scenes relating to his legacy.

Rand Denominations

Notes: R 200, R 100, R 50, R 20, R 10 Coins: R 5, R 2, R 1, 50c, 20c, 10c, 5c

About South Africa

Population: 58.7 million Capital cities: Cape Town, Pretoria, Bloemfontein Popular tourist locations: Johannesburg, Durban, Port Elizabeth

South Africa is the southernmost country on the African continent. It’s famous for its varied topography, incredible natural beauty, and cultural diversity, all of which have made the country a top destination for travellers since the end of apartheid in 1994. The country has a huge variety of cultures, languages, and religions. That’s reflected in the constitution's recognition of 11 official languages – the fourth-highest number in the world. For those looking to transfer money to South Africa, various services are available.

If you’re planning to move to South Africa to work, you’ll need to apply for a work visa before you arrive. This acts as your temporary resident visa. You can’t come to South Africa on a tourist visa and then apply for a work visa. You’ll need to apply at least six weeks before you leave your own country to come to South Africa, usually at the South African embassy or consulate in your home country. For those who need to send money to South Africa from the UK, various services are available.

Rental costs can be expensive in South Africa, especially in large cities, so it might make sense to buy property there. It’s also worth considering currency. With the rand devaluing in recent years, it’s now a lot cheaper than it was for foreign currency buyers to buy homes in South Africa. However, you’re likely to pay capital gains tax of 33.3% on your profits if you sell, after deducting certain expenses. If you're seeking to send money to South Africa, there are several services to choose from.

5 Interesting Facts About South Africa

• Nelson Mandela is known by six different names in South Africa
• The 850km road through Cape Winelands is the world’s longest wine route
• South Africa has three capital cities
• The new South African flag was used for the first time on Freedom Day 1994
• South Africa was the fifth country in the world to recognise same-sex marriage