Open a ZAR Account - South African Rand

Opening an account is very simple.

1. Send us your request to open a ZAR account via the form on the left or through the account opening form. We will contact you to schedule a phone call to fully understand your needs regarding ZAR flows.
2. Following this exchange, we assist you with the administrative formalities to open access to the services of one of our partners, selected according to your needs. We remain your sole point of contact for the entire client relationship.
3. Once access to the services is validated, you can request the opening of your South African Rand account and any other eligible currency. The bank details of your ZAR account are generally provided within minutes, and you can start receiving and making payments in ZAR (South African Rand).
4. If your business evolves and you have needs in other currencies, you can request the addition of an account in another currency at any time.

The South African Rand (ZAR) account for which we provide you with the details is not a bank account per se because the account-holding institution is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN linked to the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening a South African Rand (ZAR) account for more information.

It may be useful for your ZAR (South African Rand) account to be located in France or, conversely, in another country, depending on your operational needs and the location of your clients. This is why we allow great flexibility in the location of currency accounts. The ZAR (South African Rand) account can be located in the following countries of your choice:

• France
• United Kingdom
• Belgium
• Netherlands

You can consult the updated table of possible locations for ZAR (South African Rand) accounts here: account locations

You can use this South African Rand account to receive or store ZAR for as long as you wish as long as your account is active. You are automatically notified by email each time a South African Rand transfer is received in your ZAR account. You can then freely reuse these ZAR to make payments in ZAR to your suppliers or convert your South African Rand, benefiting from very competitive exchange rates. You have no movement obligation on the accounts. 

Foreign currency payment collection systems like Adyen, Stripe, Paypal, Hipay, or internal marketplace systems like Amazon Pay are widely used by companies conducting international transactions. These systems are efficient, but if you do not have an account in the collected foreign currency, your income in that currency is automatically converted into euros at a often very unfavorable exchange rate, and even when you have a bank account in the collected currency, this account often needs to be located in the country where the sale takes place, which can be complicated with a traditional bank. Some of our partners offer currency accounts compatible with most marketplaces and collection systems.

You can find all eligible currencies for opening a currency account by visiting this page.

It is not possible to deposit checks or cash into your ZAR (South African Rand) account. Only bank transfers are accepted for transactions on the account. No bank card can be linked to the account at this time.

Account statements listing all operations in South African Rand are downloadable at any time from the online interface. These statements include maximum information on beneficiaries, the origin of funds, related exchange operations, to facilitate the work of your accounting department.

All account statements can be automatically integrated into your treasury software or ERP via MT940 files. You thus find all movements in ZAR (South African Rand) in your software, and you do not even need to connect to our online interface to obtain the up-to-date balance of your ZAR (South African Rand) account. Our technical teams can also automate the processing of currency payment files provided by your TMS / ERP.