WE DO FOREX BEST
The FX Desk is a specialist facilitator of all foreign exchange transactions for individuals and companies, as well as cross border capital transfers, at no cost to the client.
We are your solution for all matters relating to the transfer of funds abroad, including the obtaining of SARS tax clearances, the opening of bank accounts and the fulfilment of all SARB related requirements.
The FX Desk has a highly qualified and experienced team of professionals to guide you through the foreign exchange process, ensuring a seamless, cost effective and efficient end-to-end solution.
Utilise our experience
Over a number of years, our team has assisted a select group of clients with their foreign exchange transactions, obtaining the best possible margins from banks and providing an invaluable guide through the entire process, at no additional cost. The FX Desk was established in order to allow the general public to have access to the same benefits and service offering, offering unbelievable value.
We continue to offer the lowest possible margins from banks on behalf of our clients, ensuring that our clients receive exchange rates that are normally only reserved for Institutional clients. You therefore receive more value for your Rands. Furthermore, our fees are obtained from the margin charged by the bank on each transaction, which means that there is no additional charge to you for our assistance.
HOW IT WORKS
1.
Complete the “Online Application” form, indicating the amount of funds you would like to transfer and in which currency (if known)
2.
As soon as you click “Submit”, one of the FX Desk team members will be in contact to discuss and confirm your specific requirements. We will complete all the necessary forms on your behalf, and obtain the SARS Tax Clearances (if required). There are no fees, charges or costs for any of our services. (The FX Desk receives a fee from Investec Bank for introducing the forex transaction, so our assistance, from start to finish, doesn’t cost you any additional fees)
3.
Once we have completed the forms on your behalf, all you have to do is sign the forms, scan and e-mail them back to us, together with a copy of your ID and any proof of residence.
4.
You will receive confirmation of your Investec bank account, opened in your name, which will be used to transfer the funds abroad. (Again, there is no cost to open or maintain the bank account and it can be used by you for all future foreign exchange transactions). You will need to transfer the funds into this account to facilitate the forex transaction. Once the funds reflect in your account, The FX Desk team will be in contact to confirm the transaction, including the rate of exchange, and where the funds should be transferred. It is important to note that no transaction will take place without your pre-approval and confirmation.
5.
Once the forex transaction is completed, you will immediately receive a “Trade Confirmation” directly from Investec Bank, confirming the ZAR amount, the currency exchange Rate, as well as the fees paid by Investec Bank to The FX Desk. We will complete and submit all necessary exchange control and SARB related forms on your behalf, as well as ensure that your funds are reflected in the offshore/foreign account within 2 working days of the trade.
6.
Any interest earned on your account will be refunded to you by The FX Desk. Your Investec bank account is a Money Market Call Account, earning a net interest rate linked to prime.
