Ways to Bank
Foreign Currency
We believe that banking should be an experience that is streamlined and hassle-free - and our international banking philosophy isn’t any different.
With our foreign exchange services you can travel with the peace of mind that when banking internationally with us, you will have access to foreign currency, Travellers Cheques, a Cash Passport, travel insurance, up-to-the-minute advice and information - such as exchange rates, and the capability to send money overseas through our Western Union money transfer service.
Absa Foreign Exchange services could be the right choice if you:
- Are travelling out of the country for business or pleasure
- Need to buy foreign currency or American Express Travellers Cheques
- Need a Cash Passport card that is pre-loaded with your spending money
- Want to cover your trip with travel insurance
- Would like accurate and up-to-the-minute advice on travelling internationally, including exchange rates
What you get?
With our international banking facility, the following options are available to you:
- Foreign currency is available in a range of currencies and denominations, including: US Dollar, UK Pound, European Euro, Swiss Frank, Canadian Dollar, Japanese Yen and Saudi Riyals
- American Express Travellers Cheques in most major currencies and a range of denominations
- The availability of a Cash Passport card that is pre-loaded with the spending money you require for your trip. Additional cards can be linked to this money.
- Multiple levels of comprehensive travel insurance over and additional services including emergency medical expenses, personal accident cover, help lines and much more
- Advice on the various banking options available to you when travelling internationally
How it works
As an authorised dealer in foreign exchange, Absa complies with the following South African exchange control regulations:
- As a South African resident over the age of 18, you are permitted a discretionary allowance (for the purpose of travel allowance, monetary gifts, donations to missionaries, study allowances and maintenance payments) of R1 000 000 per calendar year
- As a South African resident under the age of 18, your discretionary allowance is limited to R200 000 per calendar year
- In addition to the discretionary allowance, you may take R10 000 in cash out of the country for use upon your return to South Africa
- These limits differ for businesses and must be applied for once a year
- When buying foreign exchange, you are required to present your valid passport, and return ticket, as well as proof of residence if you are not an Absa account holder
- The Cash Passport is valid for up to three years, and can be re-used and topped-up. Additional cards can also be purchased for family members, who will then have access to the same pot of funds.
- Please note that Cash Passport may only be provided to travellers who are in possession of a valid bar-coded ID book, passport and an air-ticket or e-ticket in their name, for a journey leaving from South Africa.
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