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Home » Industry News » Business Advisory & Financial Services » How to do online money transfers using the Sikhona Money transfer app

How to do online money transfers using the Sikhona Money transfer app

Sikhona Money Transfer was founded in 2010 with the goal of helping people with online money transfers by giving them access to the least expensive, safest, and fastest method of sending money to anyone, whether locally or internationally.

The company is part of Sikhona Forex (Pty)Ltd. and is it also a South African Reserve Bank-licensed Authorised Dealer with Limited Authority (ADLA).

With Sikhona Money Transfers, you may transfer and receive money internationally to and from more than 162 different countries using a network of more than 440 000 points of presence for pay-out distribution.

Sikhona is the cheapest money transfer service in South Africa. This can be done through the company’s innovative mobile app that is compatible with both Android and iOS devices. Simply download and install the application software onto your device and register as a user.

How does it work?

Using Sikhona is a secure way to transfer money anywhere in the world. It has the following advantages:

Secure Online International Money Transfer Services in South Africa

People from all over the world have been traveling across borders in recent years in search of better employment possibilities for themselves and their families. One of the key tasks for all migrant workers is to find the lowest method of online money transfer to South Africa.

These remittances payable can now be done as international money transfers from South Africa to their family members back home thanks to the quick technological advancements.

International Online Money Transfers from South Africa

Sikhona, paired up with a remittance partner such as Ria to design a user-friendly app for money transfers. The Sikhona mobile application tool allows customers to make use of Sikhona’s online money transfer services in South Africa from the convenience of their very own smartphones.

Transferring Money to South Africa from Other Countries

It is difficult to send and received money out of South Africa due to certain exchange control regulations by the South African Reserve Bank (SARB). SARB must maintain price stability in South Africa to achieve economic growth in the country.

To transfer money to South Africa, you would want to have the best exchange rates possible. This include looking at banks or choose a company that offers transfer services.

Banks are by far the most popular option between the two as it is the most suitable way to transfer money to South Africa. The most renowned banks are First National Bank, ABSA, Standard Bank and Nedbank.

Different companies across the world that offer the service of sending money from a country to South Africa. It is always best to consult with these companies since they will be able to guide you through the process and assist with any potential issues that may arise during the process.

After every transaction, you’ll obtain a payment reference and after making a payment, you’ll receive a pin to give to the recipient.

Clients may initiate transactions, get quotes, follow order status, and view payment locations on the app. For clients with South African IDs, the daily send limit is R49 999.99 and the monthly maximum is R75 000 000.

To use Sikhona services, consumers must be at least 18 years old and provide documents such a South African Identity Paperwork, foreign passport, or asylum document.

How to Transfer Money from South Africa Overseas?

Money transfer from South Africa might be difficult. Checking the currency rate is one of the first and most crucial tasks to take when transferring money from South Africa to the UK, Nigeria, Germany, or any other place in the world.

The rate at which two countries can exchange currencies is known as the exchange rate. It typically serves as a reliable predictor of how well or poorly the nation’s economy is doing at the moment. Cross-rates can be used to directly or indirectly quote these rates.

Taxpayers who are at least eighteen years old and are transferring money out of South Africa are permitted to do so up to a maximum of R11 million.

Conclusion

Choosing to use Sikhona money transfer services for the financial currency market is a far better option than opting for traditional money transfers through a banking institute.

Sikhona can be contacted on 0861 660 660 during normal business hours through Monday to Friday from 07:00 to 17:00 and on Saturdays, Sundays and Public Holidays between 08:00 am and 20:00.

Customers can also contact Sikhona via e-mail at customercare@sfx.co.za. The company has dedicated agents in various countries across Africa, such as Zimbabwe, Ghana and India to guide you along the way.

To enquire about Cape Business News' digital marketing options please contact sales@cbn.co.za

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