NEWS: Sending money out of SA set to become easier and cheaper

The cost of sending money from South Africa to people in neighbouring countries or abroad is set to drop. Last week Finance Minister Nhlanhla Nene approved a long-awaited exemption from legislation for cross-border remittances.

The exemption from the Financial Intelligence Centre Act will reduce the regulatory requirements relating to combating money laundering and the financing of terrorism, which banks and other qualifying institutions must meet.


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