south africa bop codes
Category BoP Code Sub Code Description Imports These codes are used when you are making a payment for goods that have already been received in South Africa. Top tips for getting your South African inheritance offshore.
Bop Codes Inward Forex Transactions
370 Helen Joseph Street Pretoria 0002.
. BoP Codes for Outward Transactions BoP Category BoP Code Sub-code Description Imports. P O Box 427 Pretoria 0001. This code is called a Balance of Payment BoP code.
South African Post Office 101 02 Import advance payment - capital goods 101 03 Import advance payment gold 101 04 Import advance payment platinum 101 05 Import advance payment crude oil 101 06 Import advance payment refined petroleum products 101 07 Import advance payment diamonds 101 08 Import advance. Using the old familiar codes will result in incorrect reporting to the SARB. The REC code is a 5-digit code and should be instructed in field 72.
Inactive codes are excluded from the list. The South African Reserve Bank has given South African citizens an allowance to make international payments without needing to provide supporting documentation for a sub-set of Reason for Payment BOP codes. South Africa reservere bank codes BOP categories 188 Views Last edit Aug 21 2017 at 0850 AM 2 rev.
A R185 flat fee. In addition if the the payment is initiated in ZAR from SA a REC code is required. South African chef masterclass.
401 Gifts. 4 AFRICA EXCHANGE PTY LTD. Next Authorised Dealers.
103 01 Import payment excluding capital goods gold platinum crude oil refined petroleum products diamonds steel coal iron ore and goods imported via the South African Post Office. 4 AFRICA EXCHANGE PTY LTD. Below are the SWIFT codes for all banks in South Africa.
Applicable to BOP Categories 101 102 103 and 104 Payment related to goods excluding capital goods gold platinum crude oil refined petroleum products diamonds steel coal iron ore and goods imported via the South African Post Office Payment related to goods classified as Capital goods Payment related to goods classified as Gold. Current category for gift payments is. 4 AFRICA EXCHANGE PTY LTD.
South African legislation requires you to provide a reason why youre making an international payment. What is a BOP code. 101-01 Import advance payment excluding capital goods gold platinum crude oil refined.
When you transfer money into SA from foreign bank account you need to specify the BOP code when it gets here before it clears. Please be advised and take note that some categories have changed completely. The guide below provides the comprehensive list of all categories and sub-categories split into inward and outward payment flows.
BOP Balance of Payment Reason for Payment. You can elect to make one lump sum transfer or you can space the payments out over the calendar year but making use of the single discretionary allowance cuts down on your admin and paperwork because you can. Advance payments 101 01 Advance payment excl capital goods and mining resources 101 02 Advance payment Capital Goods 101 03 Advance payment Gold 101 04 Advance payment Platinum 101 05 Advance payment Crude Oil 101 06 Advance payment Refined petroleum.
The South African Reserve Bank SARB uses a set of predetermined codes for this called a Balance of Payment BOP code. South African legislation requires financial institution to provide a reason why international payments are made. The South African Reserve Bank SARB uses a set of predetermined codes to identify why money is paid overseas.
Home bop codes south africa 27283122764. BoP code for FNBpaypal issue. Financial Surveillance Department - Foreign Exchange Tutorial.
For international payments intitated from South Africa for all currencies a BOP purpose code see Appendix XV is mandatory and should be instructed in the regulatory reporting field. This allowance is your Single Discretionary Allowance SDA limit or your forex limit and you can use it to make payments up to R1. If youre a South African citizen and your spouse is one too together you are able to transfer abroad R2 million per calendar year.
How do you take money out of South Africa and how much can you take. ID Bank or Institution City Branch Swift Code. A lot of my friends working overseas send.
The South African Reserve Bank SARB has introduced new BOP categories and sub-categories effective 19 August 2013. Select the new code from the list that corresponds to the reason for the transaction. 101 01 Export advance payment excluding capital goods gold platinum crude oil refined petroleum products diamonds steel coal iron ore and goods exported via the South African Post Office 101 02 Export advance payment - capital goods 101 03 Export advance payment gold 101 04 Export advance payment platinum 101 05 Export advance payment crude oil 101 06.
This code is called a Balance of Payment BoP code. 10 Investec Bank limited Forex BoP South African resident - Individual Category BoP Code Sub Code Description Loans Loans 801 Repayment of trade finance drawn down in South Africa 802 Repayment of an international Bond drawn down 803 Repayment by a resident of a loan received from a non-resident shareholder. To contact us click here.
South African legislation requires Authorised Dealers to provide a reason why international payments are made. When completing a transaction the system will provide a list of the new BoP codes. The South African Reserve Bank SARB uses a set of predetermined codes to identify why money is paid overseas.
Only active SWIFT codes are shown. South African Post Office 101 02 Import advance payment - capital goods 101 03 Import advance payment gold 101 04 Import advance payment platinum 101 05 Import advance payment crude oil 101 06 Import advance payment refined petroleum products 101 07 Import advance payment diamonds 101 08 Import advance payment steel. 501 As from 19 August 2013 the BoP Category.
