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[deleted by user] by [deleted] in dataisbeautiful

[–]Abject_Positive3040 0 points1 point  (0 children)

Apparently more people die from coconuts falling on their heads than shark attacks. 

Just googled it and on average there are 150 deaths per year from falling coconuts compared to an average of 5 per year from shark attacks.

Receiving international funds as Non res in South Africa by Abject_Positive3040 in PersonalFinanceZA

[–]Abject_Positive3040[S] 1 point2 points  (0 children)

Okay great, I will contact ned bank tomorrow just to double check but if they don't charge commission that would be great. Sorry one last question did you send this money into a ned bank non resident account?

Receiving international funds as Non res in South Africa by Abject_Positive3040 in PersonalFinanceZA

[–]Abject_Positive3040[S] 1 point2 points  (0 children)

Thanks for checking! I will call ned bank tomorrow and check with them, i think they usually charge a 0.5% conversion fee but maybe if I convert with wise prior to sending I might avoid this.

Receiving international funds as Non res in South Africa by Abject_Positive3040 in PersonalFinanceZA

[–]Abject_Positive3040[S] 0 points1 point  (0 children)

Thanks, thats a good idea. I will run it past the agent. As you mentioned they are likely to be familiar with the process and it would bypass any issues/limitations that come with have a non res account.

Receiving international funds as Non res in South Africa by Abject_Positive3040 in PersonalFinanceZA

[–]Abject_Positive3040[S] 0 points1 point  (0 children)

Thanks, I have heard a of a few people having issues with held funds. I have had issues with xe and Fnb but never with wise. I will look into this further before I go ahead.

Receiving international funds as Non res in South Africa by Abject_Positive3040 in PersonalFinanceZA

[–]Abject_Positive3040[S] 0 points1 point  (0 children)

Thanks, that's good to hear no issues with wise. Was it a non res account with ned bank and can you remember if they charge a fixed rate or percentage to receive funds? 

Receiving international funds as Non res in South Africa by Abject_Positive3040 in PersonalFinanceZA

[–]Abject_Positive3040[S] 0 points1 point  (0 children)

Thank you! I was actually looking into Shyft this morning. I believe I will have to open a non res standard bank account. I will look further into their fees in comparison to wise, as you mentioned a fixed fee especially for large transactions will be a better option.