# Changing Euros to Rand



## Stellen (Mar 19, 2010)

We are hoping to proceed with a house purchase. The funds are in Euros and obviously we need to change them into Rand.

Can someone recommend a currency company that offers better rates than banks? Thanks.


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## zambezi.king (Oct 8, 2009)

Stellen said:


> We are hoping to proceed with a house purchase. The funds are in Euros and obviously we need to change them into Rand.
> 
> Can someone recommend a currency company that offers better rates than banks? Thanks.


I don't know of a company but you can request a better rate for the type of amount you are dealing with. Also check if the seller does not want all or part of the money paid outside South Africa... that might save you a packet.


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## Johanna (Apr 13, 2009)

Stellen said:


> We are hoping to proceed with a house purchase. The funds are in Euros and obviously we need to change them into Rand.
> 
> Can someone recommend a currency company that offers better rates than banks? Thanks.


Stellen, the rand is quite strong against most currencies at the moment. We had our money from the UK transferred from HSBC ( Jersey ) into our bank account here. They paid it in as SA Rand and charged us a nominal fee.


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## Stellen (Mar 19, 2010)

Thanks for the replies.

We will check with the sellers about how they want the money but don't want to do anything illegal. Is it difficult for South Africans to get money out of the country?

Just a Q - did HSBC change Sterling into Rand or was that done by the bank in SA? 

Unfortunately for us, the Rand is very strong, although the Euro has incresaed about 5% against the Rand in the last few weeks.


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## Johanna (Apr 13, 2009)

Stellen, the bank converted the money from sterling to rand and then transferred the money electronically to our bank in South Africa.

If you are a SA citizen, you are now allowed to take 4 million rand per person out of the country ( as a once off) I think it used to be 2 million, changed to 4 million ( heard that whilst listening to a programme on investments)


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