International Payment Terms and Conditions (Terms)


1.1 These Terms form an agreement between you and us, so please make sure that you understand all of them. These Terms apply together with the Mobile Application Banking terms and conditions, including the definitions set out therein.

1.2 Important clauses, which may limit our responsibility or involve some risk for you, will be in bold. You must pay special attention to these clauses.


We have defined some words for consistency.  These words will begin with a capital letter, where indicated. Singular words include the plural and the other way round. 

Word Meaning
Applicable Laws All national, provincial, local and municipal legislation, regulations, statutes, by-laws, consents and/or other laws of any relevant governmental authority and any other instrument having the force of law as may be issued and in force from time to time relating to or connected with the activities contemplated under these Terms.
BOP Category Codes Codes prescribed by the SARB to categorise the type or purpose of an International Payment.
BOP Reporting The system of reporting known as Balance of Payments Reporting, which is required by the SARB for International Payments.
International Payment A payment to a beneficiary holding an international bank account outside of the Common Monetary Area, being the Republic of South Africa, Republic of Namibia, the Kingdom of Lesotho and the Kingdom Swaziland.
SARB The South African Reserve Bank.
SARS The South African Revenue Service.
SDA The Single Discretionary Allowance specified by the SARB that South African residents who are 18 years old or older may avail of per calendar year



3.1. International Payments are available to South African residents who are over the age of eighteen, hold a cheque or savings account with us and for whom we have all information and documentation required by FICA.
3.2. International Payments may not be made in respect of payments that require documents to be furnished to the SARB. Only International Payments that do not require such documents may be made.
3.3. You may not make an International Payment without providing us with the requested information and adhering to exchange control regulations.
3.4. No International Payment may exceed any limit set by the SARB, including the limit of R 1, 000,000 (one million rand) where the SDA is being availed.
3.5. The exchange rate applicable to an International Payment is determined by us and does not include our commission fee and the SWIFT fee, which will be reflected separately.
3.6. Once you have provided all the requested information, the exchange rate will be displayed. The exchange rate will be valid for 5 minutes, after which it will auto-refresh and a revised exchange rate will be provided. Your account will be debited with the payment amount, our commission fees and SWIFT fee when you submit the payment. If your account is not debited because there are insufficient funds in your account, you will still be liable for the commission fees in connection with the transaction.
3.7. Please note that you will not earn any interest on the amount debited from your account from the date of that it is debited to the date of payment to the beneficiary.
3.8. If you apply to make an International Payment after hours and/or when the markets are closed, we will provide you with the last available exchange rate.
3.9. When you accept the exchange rate and these terms and conditions and make the declaration applicable to the International Payment, the exchange rate will be booked and you will be liable for all amounts owed to us in this regard.
3.10 You accept that while International Payments usually take up to two working days to be completed, this period may be extended and/or the International Payment may be cancelled due to circumstances beyond our control, including Applicable Laws, the laws of the jurisdiction where the beneficiary’s account is held and the policies of the beneficiary’s financial institution. We will not be held liable for any loss suffered by you or any third party in this regard, and you indemnify us against any loss or damage which we may suffer as a result thereof.



4.1. You can choose to pay for your fees only, or for your fees and the beneficiary’s bank’s fees.
4.2. If you choose to pay for your fees as well as the beneficiary’s bank’s fees, the beneficiary’s bank will debit your account separately. This may occur a few days after the payment is submitted. The beneficiary’s bank (not Standard Bank) determines it’s fees.
4.3. If you choose to pay for your fees only, you will pay for Standard Bank’s commission fees and the beneficiary will be liable for any fees or costs imposed by its bank.
4.4. The fees that will be charged in respect of International Payments can be found in our online pricing guide.
4.5. You authorise us to set aside funds to cover all and any amount(s) relating to the International Payment, including our fees, by debiting your Account with such amount(s) immediately.



5.1. The SDA is provided by the SARB to South African residents who are eighteen years old or older. It allows for International Payments of up to R1,000,000 (one million Rand) per annum, starting on 1 January and ending on 31 December, without the requirement to obtain a tax clearance certificate or provide any documentary evidence payments.
5.2. The SDA and dispensation to transfer funds abroad without the production of any documentary evidence may not be used to disguise International Payments made for purposes for which foreign exchange may be refused under normal circumstances.
5.3. Once your SDA has been fully utilised, you can apply to the Financial Surveillance Department of the SARB to authorise an increase to your SDA, however the request will only be granted in exceptional circumstances. Alternatively, you can make further International Payments for certain BOP categories by visiting a branch and providing the required supporting documentation and tax clearance certificate.
5.4. You acknowledge and declare that –
5.4.1 you are aware of the SDA limit of R1,000,000 (one million rand) per calendar year;
5.4.2 no International Payment will cause you to exceed the SDA limit;
5.4.3 the International Payment is for the reason provided by you in the BOP Category Code and for no other reason.
5.5 You will be required to make an exchange control declaration before the Transaction is completed. If you make a false declaration, you may be liable for fine and/or prosecution.
5.6 We are required to report International Payments to the SARB (BOP Reporting). In this regard you confirm that the information you have provided us for both FICA and BOP Reporting purposes is up to date, true and correct. If required to do so, we may also report the International Transaction to SARS.
5.7 You acknowledge that we may be required by various laws to provide your personal information to the Financial Intelligence Centre, the SARB and/or SARS.



6.1. If you have any queries or complaints about International Payments you can call 0860 123 000 (local calls) or +2710 249 0051 (international calls).