+27 (0) 21 205 1980 info@domisa.co.za
FSP No 47661

Foreign Currency Accounts

A Business Essential

Foreign Currency Accounts

In South Africa, as everywhere, going into business from scratch as a startup or running an established business can be a daunting exercise with a host of challenges manifesting themselves alongside the considerable opportunities for success.

If you trade with foreign partners or clients, as an importer / exporter, tour operator / travel company, service provider, consulting or technology business you will have both revenues and expenses in foreign currency.

A foreign currency account is simply a bank account for the business denominated in a foreign currency. Businesses with reasonable volumes of such transactions could increase profits by 5 – 15% simply by making them through foreign currency accounts, with a diligently selected provider.

How Can We Help You?

Domisa Treasury is able to assist SMME businesses in South Africa in managing their currency risk by facilitating the implementation of the correct combination of tools to achieve the optimal currency management solution for their unique business needs. We leverage our strong market relationships to make these solutions a reality for our clients. What we offer:

  • Bank accounts – we facilitate the setup of foreign exchange transactional accounts with preferred providers
    • Rand (ZAR) accounts – High interest, no monthly fees, fully transactional internet banking
    • Foreign Currency Accounts – accounts available in all major currencies. No monthly fees, internet banking
      • International Payment Solutions – send, receive and hold foreign currency
      • International money transfer – pay foreign currency invoices directly from your currency account
      • Non-ZAR currency pairs – buy GBP with your USD for example
  • Commission, Fees and Transparency – Domisa Treasury supports greater regulation of foreign exchange market participants, authorized dealers and intermediaries alike. Transparency to clients is paramount and we provide full disclosure of deal economics to every client on every transaction
    • Commissions – Domisa operates on published, highly competitive commission tiers:
      • Applicable to all our clients consistently
      • Our systems and processes do not allow deviation from these
      • We do not engage in ‘bait and switch’ pricing where transactions become more expensive for clients after the first few transactions – a pervasive problem in the industry
      • Clients always get our published tiers
      • Our live, online calculator is a highly accurate indication of where our clients are currently dealing
        • Available to everybody and requires no information to be provided in order to get an indication – its an opportunity to show off our fantastic pricing, not a data trawling exercise!
        • Use it to compare us to your current provider in real time
        • Click here to use the live calculator
    • Fees – There are no fees on transactions of R50,000.00 or greater and a flat fee of R250.00 below R50,000.00
    • Service – Domisa facilitates all functions for our clients including deal execution & settlement, regulatory reporting, South African Reserve Bank (SARB) applications and payments (both international & domestic)
  • Products – Domisa is able to facilitate the full range of foreign exchange products

Please contact us for a free consultation to discuss your business needs and what Domisa Treasury could do to assist you in managing your foreign currency risk in the most efficient and cost-effective manner. 

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Unbeatable Rates & No Account Fees

Unbeatable Rates & No Account Fees

We have wholesale pricing agreements in place with our partner banks, based on the overall volume of forex by all Domisa clients.

Our client rates are calculated on a tiered system and are some of the lowest in the market. We provide absolute transparency on where the market is and what you are paying. 

Quick & Simple International Transfers

Quick & Simple International Transfers

Industry leading technology, makes onboarding with us quick and simple. An account can be opened within 24 hours (completely free!)

Earn 4% p.a Interest on Cash Deposits

Earn Interest on Cash Deposits

With Domisa Treasury, you earn lucrative interest of 4% p.a. on your deposited funds.

Secure, Regulated & Insured

Secure, Regulated & Insured

Domisa Treasury is a fully licensed FSP (#47661), regulated by the FSCA and authorised by the South African Reserve Bank.

We are also fully insured with Lloyd’s of London, Bryte Insurance Company Limited and Compass Insurance Company Limited

We do the Heavy Lifting for you

No Complicated Paperwork

Our experienced team of finance professionals ensure that your foreign exchange deals are executed and settled on a timely basis, including all allowance applications and regulatory reporting.

Personalised Expert Advice for Businesses & Individuals

Expert Advice & Personalised Service

Whether it’s a simple inbound or outbound transaction or complex currency hedging, we are here to assist and ensure that you have peace of mind with all your currency dealings.