South Africa is home to stunning landscapes, friendly locals and a growing expat community. Whether locals or foreigners, many people in the country need to send and receive British pounds (GBP) to support family members abroad, pay for goods and services, shop online, or cover educational expenses.
If you’re an expat, digital nomad, international student, businessperson, or freelancer, you need a reliable platform to simplify receiving and sending GBP. In this article, we’ll consider your best options for GBP transactions in South Africa, along with key considerations, before choosing a method.
Also read: South Africa visa requirements for UK citizens
When dealing with international money transfers, consider the total cost and convenience. Here are the key factors to consider:
Some providers add a markup to the exchange rate instead of charging transparent fees. This can lead to greater losses during currency conversion. Use trusted sources like Grey, Google, or XE to compare mid-market rates.
Watch out for hidden costs. Some services advertise “zero fees” but make up for it with poor exchange rates. Others may charge upfront transaction or processing fees depending on your chosen payment method.
Transfer speed varies across platforms. Some complete transfers instantly, while others take days or even longer, especially on weekends or public holidays. If time is critical, opt for faster services like Grey.
Some platforms allow you to receive GBP directly into a local account, while others only support ZAR payouts. Receiving GBP is often better, as it avoids unnecessary conversion losses. Platforms like Grey offer local GBP bank account details even in South Africa.
Providers have different limits based on your account tier, country of residence, or destination. Ensure your platform supports the transaction size you plan to process.
Stick with reputable platforms appropriately licensed in South Africa and the UK. Lax security can lead to data breaches or lost funds.
Once you’ve considered these factors, you can choose the best option based on your needs. These options include digital payment solutions, traditional banks, and cash pickup options.
These platforms are fast, convenient, and often more affordable than traditional methods. They’re ideal for freelancers, remote workers, and global businesses seeking efficiency.
Grey is an international money transfer platform designed specifically for Africans. It provides virtual GBP, USD, and EUR accounts, making it easy to send or receive GBP from South Africa.
Why choose Grey for GBP transfers?
How to use it:
Sign up on Grey’s website or download the mobile app, complete your verification, activate your GBP account, and start sending or receiving funds using your UK account details.
WorldRemit supports sending and receiving GBP from South Africa. Users can track transactions in real-time and choose between bank transfers or cash pickups via partners like Mukuru and Sikhona.
Key features:
How to use it:
Create an account at worldremit.com, enter the sender and recipient details, choose a delivery method, and make payment using your preferred option.
Payoneer is ideal for freelancers and remote workers receiving GBP from international clients or platforms. Users can receive GBP via a UK virtual account and withdraw to a South African bank account in ZAR. You can use your Payoneer balance to pay other Payoneer users or to a recipient’s bank account. However, Payoneer charges higher withdrawal fees.
How to use it:
Sign up at payoneer.com and activate your receiving account. You can share your GBP bank details with clients or platforms and withdraw funds to your South African bank account.
These are best for larger amounts or users who already bank with them. However, they are usually slower, require more paperwork, and incur higher fees.
FNB allows international SWIFT transfers and can process GBP payments to and from South Africa. The bank offers global accounts for saving and transacting in foreign currencies, international payments via the FNB app, and receiving international payments into an FNB account. The bank supports GBP transactions through online banking or physical branches.
Standard Bank allows GBP transactions through various services, including online banking, mobile app, and forex outlets. To make or receive GBP payments, you must provide specific details to the sender, such as your account number, the Standard Bank SWIFT address (SBZAZAJJ), and the branch/sort code (051001). You can use the Standard Bank mobile app or internet banking platform to initiate transfers for online payments.
Absa offers various services for GBP transactions, including international money transfers, foreign exchange services, and a Cash Passport preloaded with GBP. You can conduct these transactions through Absa Online Banking, the Absa Banking App, or by visiting a branch.
These are perfect for situations where the recipient doesn’t have a bank account or needs quick access to cash.
Western Union can be used for GBP (British Pounds) transactions in South Africa. You can send GBP to South Africa using Western Union, and the recipient can receive the money either as a bank deposit or for cash pickup at a Western Union agent location. If the recipient chooses to pick up the cash at an agent location, they must provide the tracking number (MTCN) and a valid ID.
Like Western Union, MoneyGram allows GBP transfers and cash pickup in ZAR across numerous outlets in South Africa. The transaction fees vary depending on location and method. However, it is usually more expensive than digital platforms like Grey.
Xoom is a PayPal service that allows users in the UK to send GBP to South Africa. You can send money to bank accounts for cash pickup or for home delivery in South Africa. Xoom provides a way to transfer funds quickly, with options for sending money directly to bank accounts or for cash pickup at various locations.
Sending or receiving GBP payments with Grey is a swift and seamless process. Here’s how you can get started with GBP transactions on Grey.
Also read: How to get an instant USD debit card in South Africa
Whether you’re a freelancer, student, or supporting family back home, sending and receiving British pounds in South Africa doesn’t have to be difficult or expensive. With the growing availability of flexible, secure, and affordable financial platforms, you can transact in GBP seamlessly.
Grey makes it easy to manage GBP across borders. You can handle international payments on your terms with virtual accounts, transparent fees, and fast transfers.
Open your free Grey account today to easily send and receive GBP from South Africa.
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