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How much are you planning to transfer to $?
R5,000<-- 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
R13.78
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BanksClick FXEasy EquitiesExchange4freeRand SwissShyft
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AmountR5,000R5,000R5,000R5,000R5,000R5,000
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Basic feeR461R578R63R250R450R193
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SpreadR108R38R100R50R35R28
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TotalR569R616R163R300R485R220
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% lost to fees11.37%12.31%3.27%6.00%9.70%4.41%
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Left in ZARR4,431R4,385R4,837R4,700R4,515R4,780
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You get in USD
$322$318$351N/AN/A$347
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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%! No transactions for less than R100 000.
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6. Shyft: Fee of $14, spread of 0.55%
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