Documentation required by the South African Reserve Bank (SARB)
According to SARB’s Exchange Control Regulations, any funds received from abroad must be declared before it may be credited to your account. The declaration of inward funds can only be made by the account holder before the account is credited and not by a third party, so supplementary cardholders or holders of a power of attorney may not make the declaration on behalf of the account holder.
In terms of current Exchange Control Rulings, international payments may not be processed without the client’s declaration of the funds.
- Signed Mercato mandate
- Original certified copy of your ID
- Original certified copy of proof of your residential address (not older than three months)
- Balance of Payments (BoP) form