non resident bank account south africa fnb

South African banking system of all foreign currency acquired by residents of South Africa; the abolition of exchange control on all current account. Commercial Banking (CMB) in South Africa consists of a dedicated team of Due to our global footprint, HSBC Africa is able to provide local clients. considered to be South African residents temporarily abroad. arise in connection with your FNB Cash Savings and Investments account(s).
non resident bank account south africa fnb

: Non resident bank account south africa fnb

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Non resident bank account south africa fnb

Important Information

About HSBC in South Africa

The HSBC Group established a presence non resident bank account south africa fnb sub-Saharan Africa in 1981 and entered the South African market in 1995. Non resident bank account south africa fnb South Africa is a branch of HSBC Bank plc (incorporated in the United Kingdom). Today, HSBC South Africa’s principal activity is global banking and markets. Our commercial banking business offers services to large local and international corporates.

From our office in Johannesburg, our dedicated relationship managers, along with regional and global account managers and product experts, are able to offer specialised products and knowledge to Treasurers and Chief Finance Officers.

HSBC’s connectivity and worldwide footprint enables us to offer our corporate clients a global perspective combined with local knowledge and expertise. We can connect customers with opportunities across 90 per cent of the world’s trade flows.

The office in Johannesburg does not offer personal banking services, and so cannot provide assistance to personal customer of other HSBC entities.

Strategic global presence and local expertise

HSBC South Africa is able to provide global reach and connectivity as well as in-depth local knowledge to its clients with international advisory, financing and trading needs. Our clients are able to access proprietary research on economics, currencies, fixed income and climate change. HSBC’s analysts draw from considerable industry and market knowledge to offer thoughts on specific investments and asset classes.

Broad-Based Black Economic Empowerment (BBBEE)

HSBC South Africa has a Level 1 BEE rating making it one of the top rated international banks operating in South Africa. Achieving this rating over the past two years is a significant achievement that reflects HSBC's commitment to South Africa and the investment in its people.

A strong BEE rating requires deep commitment and ongoing implementation of a strategy that extends beyond compliance with minimum criteria. Humane society of central illinois is therefore determined to implement actions that will see it maintain and support transformation efforts.


In case you want to open a Non-Resident account In South Africa, you can do so at FNB Bank.  To do so you will need to have the following:

  • Recent certified payslip or proof of income
  • Certified copy of passport
  • Three months latest bank statements from your bank abroad.
  • Proof of physical address aboard, not older than 3 months

The benefits of opening such an account include:

  • These types of accounts can be funded by foreign currencies. (Documentary evidence might be required in order to prove this.)
  • Should you want to open a multi – currency bank account, you will need to also open a Rand account at the same time.
  • Any foreign funds that are deposited into a SA account (non – resident) can be remitted abroad at any given time provided that the transactions occurred within the South African Reserve Bank.

However, banks like Standard Bank  and Nedbank, have the same feature you can choose what works for you.

More: FNB


It's Home Improvement Season

    • Cycle icon

      Flexibility to borrow repeatedly

    • Lock and 2 Arrows

      non resident bank account south africa fnb Variable interest rate with option to lock in a fixed rate

    • Stack of Money

      non resident bank account south africa fnb Only pay interest on the amount you use

    • House percent icon

      non resident bank account south africa fnb Borrow up to 85% of the value of your home

  • Enjoy Real Flexibility:

    A home equity line of credit from FNB is a revolving line of credit. This means you have a set amount of money available to borrow--with the flexibility to take what you need - as you need it. When you repay your balance, the credit line is freed up to borrow again. With this type of loan you only pay interest on the amount you use during the draw period.

    How a Home Equity Line of Credit Works:

    With a Home Equity Line of Credit you are borrowing against the available equity in your home, and your house is used as collateral. Lines of credit allow you to borrow up to a certain amount, rather than a set dollar amount. As you repay your outstanding balance, the amount of available credit is replenished, meaning you can borrow against it again and again.

    The time period which you are allowed to borrow is called the draw period and is typically 7 years. The repayment period begins at the end of the draw period. Monthly payments during the draw period are interest only but become principal and interest during the repayment period.

    Key Features:

    • Flexibility to borrow as needed - repay - and borrow again up to your credit limit
    • Borrow up to 85% of the value of your home (less any outstanding mortgages or liens)
    • Variable interest rate tied to the U.S. Prime Rate
    • Optional LockOption that lets you lock in a fixed rate for all or a portion of your outstanding balance
    • Access your funds via check or online transfer

    Great For:

    • Providing overdraft protection for your checking account
    • Covering unexpected expenses
    • Providing liquidity to bridge the gap between when your bills are due and when you get paid
    Interest Rates Please enter a Zip Code to view rates in your area.
  • Qualifying for a Home Equity Line of Credit:

    In order to qualify for a Home Equity Line non resident bank account south africa fnb Credit, you first need to have equity in your home. This means that the value of your home must be greater than the amount you owe on your home. This difference in the amount your home is worth and how much you owe is called "equity." Typically, you can borrow up to 85% of your home's value less the amount you owe on your home. Other factors such as credit score, employment history, monthly debt payments and income are also considered.

    The Borrowing Process:

    Our objective is to make the borrowing process simple and straightforward. To apply for a Home Equity Line of Credit, you will want to have the following information available for your branch visit:

    Required Identification:

    • A non-expired ID (driver’s license, state-issued ID, Military ID, passport, or Permanent Resident Card and visa)

    Getting Prepared:

    While you won't need this for your initial visit to start the application process, as we evaluate your application, we may ask you for additional pieces of information. You may be asked:

    • To verify your income
    • To provide bank statements
    • To provide tax documents

With any account, you also get the latest in digital technology:

Products With You In Mind

FNB offers a full breadth of products and services for your needs.

Compare all accounts This comparison chart makes it easy to compare all our borrowing options.

Browse all

Compare all accounts This comparison chart makes it easy to compare all our borrowing options.

Compare all

Still not sure? Answer a few quick questions to help you find the right borrowing option. wells fargo malaysia address Help me decide

Still not sure? Answer a few quick non resident bank account south africa fnb to help you find the right borrowing option.

Help me decide
Notices & Disclosures

1 - FNB is an Equal Housing Lender; NMLS #766529.
2 - During the draw period
3 - All loan products are subject to credit approval.
4 - U.S. Prime Rate as published in The Wall Street Journal.
5 - Interest may be deductible; check with your tax advisor.
6 - $75 fee for each executed rate lock


More about single discretionary allowances

Michael HeathWhile some may regard a single discretionary allowance (SDA) as a free-for-all opportunity to export additional funds overseas, ignoring the strict conditions of this type of allowance can be a very expensive mistake.

The general rule for South African residents making loans to non-residents is that this is only allowed within the ambit of the R1 million single discretionary allowance or a specific Reserve Bank pre-approval. Let’s look carefully at the SDA:

Firstly, when you apply you have to tell your bank what the nature of the transfer is as they have to check that your intended transfer falls not only within the SDA ambit but also that the conditions are being met. Not only does every party have to meet the SDA requirements, but they also need to comply with some basic exchange control regulatory directives, the most important of which are Exchange Control Regulations 2(4) & (5) which effectively state that:

  • You may not use the foreign currency you purchase for any purpose other than stated/ declared when you purchased it, and
  • If you have purchased foreign currency and no longer need all or part of it for the purpose you stated at the time of purchase you have to offer it for sale back to the bank you purchased it from.

When you wish to use the SDA you have to declare whether your utilisation is a travel allowance, study allowance, donation/gift, loan, maintenance transfer or a donation to missionaries. This nature of the transfer is reported on the transactional balance of payments (BoP) reporting using different category codes so the Reserve Bank can see whether you, for example, made a donation or took a travel allowance.

  • If you transfer a gift or donation it has to be a genuine donation and go to another party who has to be an individual, not a legal entity such as a trust. In addition, SARS is going to want their 20% donations tax on the difference between the amount donated and the current tax free allowance of R100 000. Are you prepared to pay up to R180 000 in tax?
  • Making a loan to a non-resident gets reported under a different BoP category than a donation, but a loan implies repayment.
  • In the case of a travel allowance, if you do not non resident bank account south africa fnb all the funds on holiday expenditure you may not keep the funds offshore or buy offshore assets.
  • To take the SDA as a study allowance requires presenting evidence of full-time studying offshore.
  • To make a maintenance transfer, you need to produce documentation that this is to a family member living abroad and they are “in necessitous circumstances”. This means, for example, a letter from an overseas civic official.

The question you need to ask yourself if you’re trying to use this dispensation for something it was not intended to, is: “Do I want to find myself in a position where I’m going to have to pay a hefty penalty if I’m caught later?” Tread carefully!

XConsult, in association with Exceed, can assist clients with applying for Reserve Bank approvals. For additional information please contact Michael Heath on tel. 021 403 6322 or 082 326 8480 or e-mail [email protected] or Sonja Frank on tel. 021 882 8140 or e-mail [email protected]


The First National Bank, FNB, is one of the oldest banks in South Africa. It has been in existence since 1864. Having been in operation for more than one hundred and fifty years, the bank believes in being committed to serving its customers. That commitment explains why the bank has existed this long. It is also a proof of confidence in the bank. If you are not a member, you should be asking yourself, 'What do I need to open a bank account at FNB?'

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Community service is one of the values that the bank stands for. Being efficient and reliable is what the bank strives to achieve. For that reason, one of the wisest decisions that one can ever make is just onto the bandwagon and be part of the FNB family. That way, you will experience the most reliable services and the additional packages that the bank has to offer. But first, you need to stop and ask yourself, "what do I need to open a bank account at FNB?"

Open an FNB account

The process of FNB account opening is not as complicated as it may sound. It is nearly the same as that of the other banks in the country. According to a statement that the CEO of FNB Points of Presence made, "with compliance to the Financial Non resident bank account south africa fnb Centre Act (FICA), the national identity is not enough to open FNB account."

READ ALSO: How does eWallet work

Having made such a statement, you should, first of all, ask yourself, 'what do I need to open a FNB account?' Being in possession of all the required documents will make the process smoother and easier for you. This is the list of documents that you will need to open the account:

1. Proof of identity

The bank is particular about this requirement. One should have a valid smart card Identification document or an authentic identity book that has the green bar codes. This is one of the essential documents that one should present when they intend to apply for FNB account.

2. Proof of address

The bank will also require the prospective account opener to give a valid address of their FNB proof of residence. The documents that one can use as proof of residence FNB include; a municipal utility bill. A clothing bill of not less than three months can also be used as a proof of residence.

3. The minimum opening deposit

What do I need to open a bank account at FNB

For every account, the owner is expected to pay a deposit while opening it. The FNB open account charges are dependent on the type of account that one would have opened.

What do I need to open a FNB account if I am not a citizen of South Africa? These requirements apply to South African citizens. Foreigners too, qualify to bank with FNB. A foreigner living in South Africa too can bank with FNB. These are the FNB non resident account requirements:

1. Passport

A passport acts as the proof of identity of the applicant. It should be valid and clearly state the official name of the applicant and their country of origin.

2. A study permit or a work permit

Depending on the case, the applicant is expected to present the official documents from the Ministry of Home Affairs declaring that their stay in the country is valid. The bank accepts other permits like the business permits., visitors permit,

3.Minimum deposit

The applicant will also be required to deposit the stipulated amount that is needed to activate the account.

FNB online account opening

What do I need to open a bank account at FNB

You can also open FNB account online. The process on how to open a bank account online FNB is so straight-forward, and you can do it at the comfort of your home. The good thing about this service is that you do not need to open FNB new account to benefit from it. What are the hours of fifth third bank, you can update the details of your FNB current account, and that way, you will be good to go.

FNB bank accounts

The bank has several FNB account types that one can go for. Some of the accounts include:

  • FNB business account
  • FNB savings account
  • FNB student account
  • FNB smart account
  • FNB youth account
  • FNB easy account
  • FNB cheque account
  • FNB premier cheque account
  • FNB platinum cheque account

Each one of these accounts has requirements that one is supposed to present during the opening account stage. For instance; the FNB business account required documents are different from those of the student account. The same way the FNB business account requirements are different from those for the other account.

FNB business account types

Opening a business account with FNB is one of the most crucial and sensitive parts that the new applicant should take into consideration. The process involves a lot of caution, especially when selecting the account type that one is going for. So far, these are the business account types that they can choose from;

  • The Gold account.
  • The Premier account.
  • The Private clients account.
  • The Private wealth account.

Non-compliant business owners can upload their FNB FICA documents using the KYC Doc Uploader. The bank issued a statement saying that the business persons who were not compliant had been sent messages urging them to upload their FICA documents FNB. Upon uploading the documents, the information in the documents will be verified within two days, after which the applicant would be notified.

SARS banking details FNB

If you wish to pay SARS through FNB, the procedure is very possible. FNB is one of the bank that has been listed to allow for payments to be made. Individuals non resident bank account south africa fnb warned to be keen to ensure that they feed in the right beneficiary identification details and the reference number for the transaction.

FNB is one of the most convenient banks. It is among the top five banks in the country. That means that regarding reliability, a client can rely on it. It has some of the best rates and services. If you have been asking yourself, What do I need to open a bank account at FNB, the details will be of help to you.


  • FNB reverse payment - How can you reverse an EFT payment FNB with ease?
  • Everything you need to know about a Revolving Loan
  • How to apply for business grants? DTI, SEDA, IDC, NEF


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