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Global Account

Foreign Investment

Our Global Account

Global Account is an account in a foreign currency which enables you to invest in your foreign investment allowance, either by making use of your R10m Foreign Investment Allowance or your R1m Single Discretionary Allowance (in line with the South African Reserve Bank requirements).
It's a South African domiciled account, which allows you to start saving in nine foreign currencies (US Dollar, British Pound, Euro, Australian Dollar, Indian Rupee, Chinese Renminbi, Arab Emirates Dirham, Swiss Franc and Canadian Dollar). This account attracts no fees, earns interest, has no minimum balance and allows you to both make payments abroad and conversely, earnings from abroad can be paid into this account. You are able to manage your Global Accounts via your RMB Private Bank Online Banking profile which makes for simplicity and convenience.

What the Global Account offers me:

You are able to hold your individual foreign investment allowance in a foreign currency by simply transferring funds from your RMB Private Bank Cheque Account into a Global Account. Funding of the Global Account can also be done by way of an offshore payment into the account(s).

Global Accounts enables me to:

  • Make offshore payments
  • Repatriate authorised capital or earnings from abroad or send your foreign earnings from wherever you are in the world
  • Repatriating invested funds from your Global Account to your RMB Private Bank Cheque Account
  • Transfer your RMB Private Bank Cheque Account funds to the Global Account as well as make transfers between your Global Accounts
  • Earn interest off balances held in the account*
  • Collect additional eBucks** Rewards points by maintaining the minimum balance on the Global Account
  • Open and hold more than one Global Account at a time

*Subject to change without prior notice. (Please see Interest Rates per annum below).
**Subject to standard eBucks earn rules. For more information, please visit www.eBucks.com or contact your RMB Private Banker

Open a Global Account(s) quickly and easily by simply clicking "Apply Now" or selecting the "Call me back". Alternatively, you can also contact your RMB Private Banker to open.

Interest Rates* per annum:

CURRENCY BALANCE TIERS* US Dollar Great British Pound Australian Dollar Euro Indian Rupee Chinese Renminbi
0 5,000 0.30% 0.15% 1.75% 0.00% 3.75% 0.00%
5,001 10,000 0.30% 0.15% 1.75% 0.00% 3.75% 0.00%
10,001 15,000 0.30% 0.15% 1.75% 0.00% 3.75% 0.00%
15,001 25,000 0.30% 0.15% 1.75% 0.00% 3.75% 0.00%
25,001 50,000 0.30% 0.15% 1.75% 0.00% 3.75% 0.00%
50,001 100,000 0.30% 0.15% 1.75% 0.00% 3.75% 0.00%
100,001 250,000 0.35% 0.20% 1.75% 0.00% 3.75% 0.00%
250,001 Greater 0.40% 0.25% 2.25% 0.00% 5.75% 0.00%

* Interest rates are calculated per annum and are subject to change without prior notification.

What documents are needed to make a transfer?

Documentation requirements when transferring from your RMB Private Bank Cheque Account to the Global Account, for exchange control, purposes include:
If using your R1million Single Discretionary Allowance (for Investment Purposes): No other documentation required.

However, please note the following:

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 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.

For more information on pricing:

Please view our? Pricing Guide

Legal

Global Accounts? Terms and Conditions.
Click here for information on our Foreign Exchange solutions

 
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