Thinking Of Opening A Bank Account In South Africa While You Live In Zim? This Is What You Need To Do.
7 October 2019
Spread the love

Paul Nyathi|With the Reserve Bank of Zimbabwe providing never unending policy changes in the banking sector, some ZimEye.com readers have been wondering if it’s possible to bank outside Zimbabwe particularly in South Africa which has a stable banking sector.

In case you want to open a Non-Resident account In South Africa, you can do so at FNB Bank.  To do so you will need to have the following:

  • Recent certified payslip or proof of income
  • Certified copy of passport
  • Three months latest bank statements from your bank abroad.
  • Proof of physical address aboard, not older than 3 months

The benefits of opening such an account include:

  • These types of accounts can be funded by foreign currencies. (Documentary evidence might be required in order to prove this.)
  • Should you want to open a multi – currency bank account, you will need to also open a Rand account at the same time.
  • Any foreign funds that are deposited into a SA account (non – resident) can be remitted abroad at any given time provided that the transactions occurred within the South African Reserve Bank.