🇿🇦 Pay Suppliers in South Africa
Pay South African suppliers for mining equipment, commodities, wine, manufacturing
T+0 (2.3s avg within Unicorn network). Save 86% vs traditional banks.
What you need to send money to South Africa
What details do I need to pay suppliers in South Africa?
To pay suppliers in South Africa you need the recipient's Branch Code + Account (6-digit branch code plus account number), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to South Africa?
Payments to South Africa settle in an average of 2.3 seconds when using local rails such as SAMOS (South African Multiple Option Settlement), compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to South Africa?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 86% versus banks (e.g. £505 vs £3535 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to South Africa
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 3.5% | 0.5% |
| Payment Fee | £35 | £5 |
| Total Cost (£100,000) | £3,535 | £505 |
| YOUR SAVINGS | N/A | £3,030 (86%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in South Africa
Avoid expensive SWIFT fees. We use local payment systems in South Africa for faster, cheaper settlement.
SAMOS (South African Multiple Option Settlement)
South African Reserve Bank real-time gross settlement system
RTC (Real-time Clearing)
24/7 instant payment clearing for retail transactions
Who Uses This Payment Corridor
Key Industries in South Africa
- Mining
- Commodity Trading
- Wine & Agriculture
- Manufacturing
- Automotive
Average Transaction: £75k-£300k
Typical Monthly Volume: £200k-£1.5M
Popular Supplier Types
- Mining equipment suppliers (Johannesburg, Cape Town)
- Wine producers (Western Cape, Stellenbosch)
- Automotive parts (Durban, Port Elizabeth)
- Commodity traders (Johannesburg)
What You Need to Know: South Africa Payments
Regulatory Considerations
- South African Reserve Bank (SARB) foreign exchange controls
- Financial Intelligence Centre Act (FICA) compliance
- VAT (15%) documentation required
- Exchange Control Regulations for amounts >R1M
Payment Tips for South Africa
- Use RTC for instant settlement vs SWIFT delays
- ZAR volatility - lock rates when favorable
- South Africa = Gateway to Southern African market
- Wine/commodity exports require specific documentation
Why Choose Unicorn for South Africa Payments
Local Rails, Not SWIFT
We use SAMOS (South African Multiple Option Settlement) and other local systems in South Africa. Avoid 3-4% SWIFT fees and 2-3 day delays.
86% Lower Costs
Save £3,030 on every £100,000 payment. On £200k-£1.5M monthly volume, save up to £90,900 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for South Africa payments.
Real-Time FX Tracking
Upload supplier invoices in ZAR. See live P/L as GBP/ZAR rates move. Lock rates for 15 seconds before committing.
£1,000,000+ Paying Suppliers in South Africa? Save 86%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to South Africa
For businesses with high annual FX volume. Not consumer transfers.