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How much are you planning to transfer to $?
R50,000<-- Change only this cell
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Details on the calculator here:
https://investorchallenge.co.za/investing-properly-offshore-in-3-easy-steps/
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Current mid-market USD/ZAR rate
R16.43
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BanksClick FXEasy EquitiesExchange4freeRand SwissShyft
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AmountR50,000R50,000R50,000R50,000R50,000R50,000
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Basic feeR575R578R115R250R450R230
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SpreadR1,075R375R1,000R500R350R275
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TotalR1,650R953R1,115R750R800R505
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% lost to fees3.30%1.91%2.23%1.50%1.60%1.01%
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Left in ZARR48,350R49,047R48,885R49,250R49,200R49,495
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You get in USD$2,942$2,985$2,975$2,997N/A$3,012
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Calculations:
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1. Standard Bank: Fee of 0.5%, minimum R151, maximum of R690, SWIFT "Our" fee of R250, VAT of 15%, spread of 2.15%
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2. Click FX: Fee of R328, SWIFT "Our" fee of R250, spread of 0.75%
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3. Easy USD: Fee of 0.2% minimum of $4, VAT of 15%, spread of 2%
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4. Exchange4free: Fee of R250 for amounts under R100 000, no fee for over, spread of 1%, no transactions for less than R30 000
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5. Rand Swiss: Fee of R450, spread of 0.75%, but say you got the details from The Investor Challenge Blog and you'll only pay 0.70%. If you have amounts to transfer over R200k then the spread is a miniscule 0.5%! No transactions for less than R100 000.
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6. Shyft: Fee of $14, spread of 0.55%
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