In addition to standard wire transfers, MoneyGram from FNB is an alternative method for FNB customers to send money internationally. add all your recipient's banking details,.specify whether your payment is once-off or recurring,. select 'Forex' from the tabs at the top of the interface,.log in to your FNB digital banking profile,.To transfer money using FNB Online Banking or to send money on the FNB app, you'll need to do the following: a 0.55% commission /transfer (minimum R550 and maximum R875) for amounts over R10,000.a R200 - R300 fixed fee /transfer for amounts under R10,000 or.On the other hand, the fees are similar for transfer instructions in-person or over the phone, albeit with much steeper maximum and minimum fee caps. a 0.55% commission /transfer (minimum R275 and maximum R550) for amounts over R10,000.a R100 - R200 fixed fee /transfer for amounts under R10,000 or.For transfer instructions via online or mobile banking, these fees are the following for the 2023/2024 fiscal year: FNB Charges for International TransfersįNB international transfer fees are levied through a combination of commissions and fixed fees per transaction. This means that, as an FNB customer, you'll need to use your online or mobile banking account to instruct a transfer, and FNB will wire your funds over the SWIFT network to reach its destination in a foreign country and currency.Īlternatively, FNB customers can also send money conveniently through FNB's integration with MoneyGram - a feature that's available via mobile app, SMS banking, in-branch, or over the ATM. In most cases, FNB international payments are processed as international wire transfers. Save money now by finding the cheapest and fastest alternative with Monito's live comparison engine below. In the end, this means that whenever you make an outgoing payment from South Africa with FNB, you'll pay a hefty commission fee combined with a poor exchange rate margin, leaving somewhere between 5% and 20% of the entire value of the transfer chomped up by fees. When sending an international payment online (either through your Online Banking or FNB Banking App), the following costs will apply per transaction: One of the largest and most established multinational banks to call Africa home, First National Bank (FNB) offers a wide range of retail, business, and investment services to customers in South Africa and across southern and central Africa.Īlthough FNB gives you excellent banking services all around, when it comes to international money transfers in particular, the bank can be surprisingly pricey.
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