Bringing money from South Africa

mellowdrifter

Hi there.

I was wondering if anyone here knows the best way to bring money from South Africa to england without getting ripped off. I've been living here in England for 4 years now, but I've still got an investment sitting in Old Mutual back in South Africa. I'd like to bring my investment here. It's not that much, around £1800, but the last time I transferred through the bank I was horribly ripped off. Sky high charges and a horrible exchange rate.

Anyone have any suggestions as to how I can shelter as much as possible? I am going to Cape Town end of April, but I don't think I'll have enough time to convert my entire investment to cash. I know how slow it can be.

Thanks!

zebedy

Having just come back from a year in South Africa and seeing how little the Rand is worth compared to the pound, I sympathise with you.

You really don't get much pounds for your Rands these days. If there's anyway you can cash it in while you're there and use it as your spending money that might be a good idea instead of converting sterling to Rands to spend on your holiday.

mellowdrifter

I plan on spending some of it while I'm there, but I'm only there for 2 weeks, so I don't want to spend £1800 in 2 weeks, it'll just be a waste. I don't mind waiting it out. The Rand has gone from R14 to the pound in January to around R16 now. I think it will go back down again, but it'll take a few months. I'm happy for it to sit in my South African bank account till then.

What is the cheapest way to bring it here though?

mellowdrifter

Seems like a good idea, but my family can't afford to come here, and I have no idea when any of my friends may come, it could be years.

There must be a cheap way of doing this