In an era where funds can be transferred globally at the tap of a screen, the reality for the rapidly growing number of South Africans earning a foreign salary is strikingly different.
Whether you’re an SA-based remote worker with a foreign employer, or an expat working abroad, the traditional international money transfer experience still comes down to two familiar frustrations: exorbitant bank costs and unpredictable delays.
Alongside widely criticised service levels, the major banks are deliberately vague about their pricing.
While SWIFT fees and commissions are usually visible, the primary cost is built into the exchange rate spread – where, in many cases, a 2% to 3% markup is applied to the prevailing spot rate you’d find on Google.
When you’re converting a sizeable salary from euros, dollars, or pounds each month, what seems like a small percentage difference could amount to tens of thousands of rands lost over the course of the year.
“The banks have made this process unnecessarily complex and costly,” says Harry Scherzer, CEO of Future Forex and a qualified actuary.
“Whether you’re sitting in Cape Town working for a US-based firm, or living in London and sending money home to cover a bond repayment or support your family, you shouldn’t be losing a meaningful slice of your income every single month just to move it across borders.”
That’s why multi-award-winning fintech Future Forex has disrupted this model entirely, reducing fees to up to a fifth of those charged by the banks – while radically improving transaction turnaround times.
Blending advanced technology, full pricing transparency and a personalised, high-touch service, the company ensures its clients’ offshore funds land in South Africa in record time – while cutting out the heavy paperwork and manual processes that have long caused delays.
It’s a compelling alternative for those:
- Based in South Africa and receiving a salary from a foreign employer;
- Living and working abroad and regularly transferring funds home to cover expenses, investments, or family obligations;
- Repatriating accumulated savings or investment returns built up while living overseas; or
- Returning to South Africa permanently and needing a fast, compliant way to bring offshore funds home.
An all-in-one service experience
For most clients, the frustration with the banks isn’t just the cost – it’s the experience.
“You’re chasing people, resubmitting forms, getting different answers each time you call,” says Scherzer.
“That’s exactly what we set out to change. We looked at every step involved in getting foreign income into South Africa, identified the friction points, and rebuilt the process using world-class technology and real expertise.”
Instead of being passed between multiple call centre agents and trying to navigate a bank’s complex inward payment processes, Future Forex clients are assigned a dedicated account manager – a foreign exchange specialist who understands the intricacies of South Africa’s regulatory landscape and manages every transaction from start to finish.
This includes ensuring inward transfers are correctly documented for South African Reserve Bank exchange control purposes, and helping clients understand their South African Revenue Service obligations around foreign employment income.
“Our expert account managers are available via WhatsApp, phone, or email, providing proactive updates, white-glove support and full compliance assistance at no extra cost,” says Scherzer.
Award-winning platform
Future Forex’s fully digital processes keep everything running seamlessly behind the scenes, removing the need to resubmit documents or deal with unnecessary admin.
For clients who prefer to manage transactions themselves, an intuitive web and mobile app provides live exchange rates, real-time payment tracking, beneficiary management and transaction booking – all from a single, convenient platform:
This powerful mix of innovative tech and personalised service has positioned Future Forex as a pioneer in SA’s foreign exchange landscape.
The company has earned multiple accolades, including ‘Company of the Year’ at the 2025 Africa Career Summit and ‘Outstanding Customer Service in Forex and Payments, South Africa’ at the World Business Outlook Awards, adding to a consistent string of recognitions in previous years.
Most recently, Future Forex was ranked second in News24’s fastest-growing South African companies (2026), reinforcing its rapid growth and position in the market.
Follow this link to get in touch with a Future Forex expert or request a quote for your transaction. You can also give them a call on 021 518 0558 or send them a message on WhatsApp.
Brought to you by Future Forex.
Moneyweb does not endorse any product or service being advertised in sponsored articles on our platform.
#Cheaper #ways #receive #overseas #salaries