FAQ: Exchange Control   Q What is Exchange Control? A The rules and regulations stipulated by the South African Reserve Bank which regulate the exchange of all forms of foreign currency.   Q How does Exchange Control affect me? A Exchange Control means that we cannot change South African currency into foreign currency freely. The Reserve Bank controls and monitors all money that leaves and comes into the country and regulates what we may and may not do with foreign currency.   Q What amount can I take out of the country when I travel? A The annual single discretionary allowance as granted by the SA Reserve Bank is R750 000 per adult per year.   Q Do children qualify for an allowance? A Children under the age of 18 qualify for an allowance of R160 000. Once they reach their 18th birthday they are entitled to the full R750 000 allowance.

Q How long before my trip can I buy foreign exchange? A You may purchase foreign exchange any number of times in the 60 day period before your departure provided that you are in possession of a valid air ticket and passport and do not exceed your travel allowance limit.   Q Is there a different allowance for holiday and business travel? A The SA Reserve Bank has done away with separate holiday and business allowance, this forms part of the Single Discretionary Allowance. The only exception to this is when a business traveler travels on an omnibus allowance for his company. This allocation does not replace his own holiday allowance and he can still take these funds independently when he travels on holiday.   Q Does my allowance include the commission that I pay to buy foreign exchange? A No. The R750 000 single discretionary allowance does not include the commission. The commission is paid over and above the amount.   Q Are there restrictions on the forms in which I can take my allowance? A The Reserve Bank no longer regulates the forms in which you can take your allowance. You may take 100% in cash should you wish to do so.   Q Does a company Omnibus affect my holiday allowance? A The two allowance are completely separate. Once you have an omnibus the funds taken for business are reported separately to those taken for a holiday allowance.