Sending money to international recipients can prove to be a headache. Although services like PayPal are available, they have their limitations.
Luckily for FNB account holders, sending money abroad is easy using the FNB Mobile App. This article outlines how to achieve this by sending 60 British Pounds to an account in the United Kingdom.
1. On your FNB App, go to "Menu" then select "Forex"
2. Select "Global Payments"
3. Selected "Once off payment"
4. Select the country of your recipient. Please note that the service currently supports bank accounts in the USA, the UK, Germany, South Africa, Australia, Switzerland, the United Arab Emirates, Zimbabwe and Canada.
5. Enter the beneficiary's bank details
6. Enter payment details, including which FNB account you are paying from, what currency you are paying in, the amount and payment references
7. Click continue
8. You will then be prompted to complete regulatory requirements for cross-border transactions. Indicate the country you are sending money to and the purpose of the funds by indicating the BoP (Balance of Payments) code.
9. You will then be asked to confirm your details
10. The next step is to be quoted on the exchange rate for your transaction. Accept the rate and proceed
11. Your global payment application is now complete. Wait for a response from the bank
12. After about 12 hours, you will receive an email from the bank stating that your payment has been effected and is on the way to the recipient.
13. After about five hours, the recipient will receive the funds.
