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Qualifying criteria

Any type of business entity or non-personal form of ownership
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Documents needed

Single Discretionary Allowance

Single Discretionary Allowance allowing you to convert up to R1 million to foreign currency abroad per calendar year:

  • No documentation is required however a tax number is required when transferring funds to your Global Account from your Current Account.

Foreign Investment Allowance allowing you to invest up to R10 million abroad per calendar year:

  • A valid SARS Tax Certificate for Foreign Investment (referred to as FIA-001) will be required when making use of this allowance.
Use of this account and documents required are in line with the South African Reserve Bank (SARB) requirements. For more information refer to SARB's website or contact a Foreign Exchange Specialist.
 
All account holders must be over the age of 18 years.
 

S.A Resident Global Account

  • A South African resident or naturalized Foreign National with a valid South African identification (ID) number
  • A valid tax number
  • A holder of a qualifying RMB Private Bank Current Account or have a qualifying transactional product

Foreign National

  • Global Account Application Form
  • Work Contract
  • Foreign National Declaration
  • Passport
  • Work Permit

Non-Resident

  • Global Account Application Form
  • Passport
  • Work Contract
  • Work Permit
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INTEREST RATES

Interest rates per annum

Published at 2024-11-27
CURRENCY BALANCE TIERS* US Dollar British Pound Australian Dollar Euro Indian Rupee Chinese Renminbi Canadian Dollar Swiss Franc Arab Emirates Dirham
0
- 5,000
0.90%
0.45%
0.60%
0.40%
3.00%
0.00%
0.00%
0.00%
0.00%
5,000
- 10,000
1.00%
0.50%
0.65%
0.45%
3.00%
0.00%
0.00%
0.00%
0.00%
10,000
- 25,000
1.00%
0.50%
0.85%
0.45%
3.00%
0.00%
0.00%
0.00%
0.00%
25,000
- 50,000
1.00%
0.50%
0.85%
0.50%
3.00%
0.00%
0.00%
0.00%
0.00%
50,000
- 100,000
1.05%
0.50%
0.85%
0.50%
3.50%
0.00%
0.00%
0.00%
0.00%
100,000
- 250,000
1.25%
0.60%
0.95%
0.60%
3.60%
0.00%
0.00%
0.00%
0.00%
250,000
- Greater
1.85%
0.75%
1.05%
0.60%
3.75%
0.00%
0.00%
0.00%
0.00%
* Interest rates are calculated per annum and are subject to change without prior notification.
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What to consider

You may not exceed the limits set by the SARB. This includes the Investment Limit and the annual forex Discretionary Limit specified by SARB from time to time.

The Discretionary Allowance also covers matters such as travel, gifts, etc. and you may not exceed your annual Discretionary Allowance Limit specified by the SARB.

If using your R10million Investment Allowance (Foreign Investment Allowance): a Tax Clearance Certificate (referred to as FIA-001) will be required. This can be obtained from SARS.
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Open & manage your currency account online

The Global Account offers you the means to save and transact in foreign currency; whether you are saving for offshore travel, require quick access to manage currency risk or are receiving and making international payments.
  • Open a Global Account via your Online Banking profile in less than three minutes and then simply fund via Online Banking.
  • No minimum balance required
  • No monthly account fees
  • Transfers between your transactional account and Global Account are free.
  • Earnings from abroad can be paid directly into your Global Account when working abroad, in line with the South African Reserve Bank (SARB) requirements.
  • Make payments abroad and transfers between your accounts via Online Banking, in line with the South African Reserve Bank (SARB) requirements.
  • Move up a rewards level by collecting points for funding and maintaining the required minimum balance in your Global Account.
  • Order USD, GBP and/or EUR Debit Cards to spend directly from your Global Account when you travel abroad.
  • You can also order Cash Passports for your partner and children, which can be funded from your Global Account.
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Simplify your international
travel experience with a
Global Debit Card

  • Access foreign currency savings via the Global Debit Card when travelling internationally.
  • Use the Global Debit Card to pay for international purchases and to make foreign currency cash withdrawals at ATMs abroad.
  • Travel in comfort and style with the Global Card, with access to over 1 200 DragonPass lounges outside South Africa.
  • Global Account debit cardholders are entitled to 10 free DragonPass lounges visits, customers may bring 1 guest per visit (deductible from, and dependent on, their available free lounge visits). The Global Debit card is required to be registered on the Visa Airport Companion (VAC) App.
  • For more information, please visit: Visa.co.za
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BENEFITS

Repatriate funds easily

Repatriate authorised capital or earnings from abroad or send your foreign earnings from wherever you are.
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BENEFITS

Earn eBucks

Collect additional eBucks Rewards points by maintaining the minimum balance on the Global Account.

Subject to standard eBucks earn rules. For more information, please visit www.eBucks.com or contact your RMB Private Advisor.
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BENEFITS

Transfers funds easily

Transfer your RMB Private Bank Current Account funds to the Global Account and make transfers between your Global Accounts.
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GET STARTED

Terms, conditions and rules apply

>Terms and conditions

>Pricing guide

>Forex fact sheet

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Manage

How to open and fund
a Global Account

How do I open a Global Account online?

  • Log in to your Online Banking profile
  • Select 'My Accounts'
  • Scroll down to the 'Global Account' section
  • Click on the icon on the left of 'Add global account'
  • Select 'Global Account'
  • Select the required currency
  • Accept terms and conditions
  • New account opened and account details emailed to you

How do I transfer funds from my RMB Private Bank Current Account into my Global Account?

Have your personal income tax number with you
  • Log in to your Online Banking profile
  • Select the 'Transfer' tab
  • Select the Global Transfer icon
  • Complete the details and select the following as the 'Reason for
    Transaction': 512-04: Deposit into a foreign currency account

Important note

If you transfer less than R1million and you are within your single discretionary allowance, leave the following fields blank
  • Tax Clearance Certificate Reference
  • SARB Authorisation Application Number
  • SARB Authorisation Reference Number

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Global Debit Card
ordering process

  • Log in to your 'Online Banking Profile'
  • Select 'My Bank Accounts'
  • Select 'My Cards'
  • Select the 'My Cards Menu' on the left of the screen
  • Select 'Debit Card'
  • Select applicable 'Global Account'
  • Select 'Card Type'
  • Choose 'Delivery Method'

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Find out more about Visa Airport Companion (VAC)

Go to the VAC site, Visa.co.za
  • VAC link needs to be updated
  • View Visa Airport Companion (VAC) terms and conditions

GLOBAL ACCOUNT

Save & transact in foreign currency

Apply Now!
Discover more

WHAT YOU GET

Open & manage your currency account online

The Global Account offers you the means to save and transact in foreign currency; whether you are saving for offshore travel, require quick access to manage currency risk or are receiving and making international payments.

Read more

ADDED VALUE

Simplify your international travel experience with a Global Debit Card

Read more

BENEFITS

Earn interest off balances held in the account

Global Debit Card ordering process

Read More

How to open and fund a Global Account

Read More

Find out more about Visa Airport Companion

Read More

INTEREST RATES

Earn interest on your Global Account

Read more

GET STARTED

Global Account

Apply Now!
Documents needed
>Terms, conditions and rules apply
RMB Private Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider 1929/001225/06 (NCRCP20).