South African banks will open accounts for non-residents, but the process depends on whether you're a citizen, a work visa holder, or someone with no local ties
The four major banks—Nedbank, ABSA, Standard Bank, and FNB—all accept non-resident account applications, but each has different document requirements and approval timelines. If you have a South African ID number (whether you're a citizen or permanent resident), the process is straightforward: you can often open an account online or in-branch within a few days. If you don't have an ID number, you'll need to apply in person at a branch with a passport, proof of address from your home country, and a reference from another bank.
The type of account you can open depends on your residency status. Non-residents typically open a non-resident account or a foreign national account, which work like standard checking accounts but may have limits on how much you can transfer out of South Africa each month. Some banks also offer international accounts designed specifically for expats, which come with features like multi-currency holding and easier international transfers.
Processing times vary: if you have an ID number and apply online, you may be approved within 24 to 48 hours. If you apply in person without an ID number, expect 5 to 10 business days while the bank verifies your documents and background.
Key Takeaways
- South African citizens and permanent residents can open accounts online in 1 to 2 days; non-residents without an ID number must apply in person and wait 5 to 10 business days.
- The four major banks (Nedbank, ABSA, Standard Bank, FNB) all accept non-residents, but smaller banks and online-only banks may have stricter rules.
- You will need a valid passport, proof of address from your home country, and usually a reference from another bank if you don't have a South African ID number.
- Non-resident accounts may have monthly transfer limits or restrictions on moving money out of South Africa, so check the terms before opening.
- Some banks charge monthly fees for non-resident accounts (typically R50 to R150 per month), while others waive fees if you maintain a minimum balance.
What documents you need to bring to a South African bank
If you have a South African ID number (citizen or permanent resident), bring your ID, a recent utility bill or lease agreement as proof of address, and your tax number if you have one. If you're opening online, you can upload these documents through the bank's app or website.
If you don't have an ID number, bring your passport (valid for at least six months), a notarized copy of your passport, and proof of your home address—a utility bill, lease, or bank statement from your home country, dated within the last three months. Many banks also require a reference letter from your current bank confirming you have an account in good standing. Some banks will accept a letter from an employer or professional reference if you don't have a bank reference.
A few banks ask for proof of income or employment, especially if you're opening an account with a high initial deposit or plan to transfer large sums regularly. This might be a recent payslip, employment contract, or business registration documents. Ask the bank before you visit whether they need this.
How the four major banks handle non-resident accounts
| Bank | Online opening for non-residents | In-person opening required | Monthly fee (typical) | Transfer limits |
|---|---|---|---|---|
| FNB | Yes, if you have an ID number | Yes, if you don't | R0–R99 | Depends on account type; international transfers usually allowed |
| Nedbank | Yes, if you have an ID number | Yes, if you don't | R50–R150 | Non-resident accounts may have monthly caps on outbound transfers |
| ABSA | Yes, if you have an ID number | Yes, if you don't | R0–R120 | Depends on account type; ask about international transfer allowances |
| Standard Bank | Yes, if you have an ID number | Yes, if you don't | R60–R150 | Non-resident accounts may have limits; international accounts have higher caps |
All four banks have branches in major cities (Johannesburg, Cape Town, Durban, Pretoria) and can process non-resident applications. FNB and ABSA tend to have the fastest online approval for ID holders. Nedbank and Standard Bank often ask more questions about the source of funds if you're making large transfers, so be prepared to explain your income or business.
If you're planning to move money regularly between South Africa and another country, ask each bank about their international transfer fees and exchange rates before opening. FNB and ABSA typically offer better rates for frequent international users.
Opening an account online versus in person
Online opening is faster and requires fewer visits, but it's only available if you have a South African ID number or if you're a citizen of certain countries that the bank has reciprocal agreements with. The process usually takes 24 to 48 hours: you upload your documents through the bank's app or website, answer security questions, and receive approval via email or SMS.
In-person opening at a branch takes longer but works for anyone with a valid passport. You'll meet with an account officer, show your documents, sign forms, and sometimes answer questions about your employment or the purpose of the account. The bank will run a background check (usually within 5 to 10 business days) and contact you when your account is ready. Some branches can issue a debit card on the same day; others mail it to your address.
If you're opening an account while you're in South Africa on a visit or work visa, opening in person is often faster because the bank can verify your documents immediately. If you're opening from abroad, online is your only option if you have an ID number; otherwise, you may need to ask a trusted contact in South Africa to open the account on your behalf or wait until you can visit in person.
Transfer limits and restrictions for non-residents
South Africa's Financial Intelligence Centre sets rules on how much money non-residents can move out of the country each month. As of now, non-residents can transfer up to a certain amount per calendar year without special approval, but the exact limit depends on your account type and the bank's internal policy. Ask your bank for the current limit when you open your account.
Some banks impose their own caps on top of the legal limit. For example, a non-resident account might allow only R50,000 per month in outbound international transfers, while an international account designed for expats might allow R500,000 or more. These limits are not fixed across all banks and change periodically, so confirm the limit in writing before you commit to opening an account.
If you need to transfer more than the monthly limit, you can request a one-time exemption from the bank, but this usually requires documentation of the reason (such as a property sale or business transaction). Processing an exemption can take 2 to 4 weeks.
Costs and minimum balances
Monthly account fees for non-residents range from R0 to R150, depending on the bank and account type. Some banks waive the fee if you maintain a minimum balance (typically R5,000 to R25,000) or if you set up a regular monthly deposit. Others charge a flat fee regardless of balance.
International transfer fees are separate from the monthly account fee. Sending money out of South Africa typically costs R75 to R250 per transfer, plus the bank's exchange rate markup (usually 1 to 3 percent above the mid-market rate). Receiving money into your South African account is usually free or costs R25 to R50.
ATM withdrawals within South Africa are usually free at your bank's ATMs and cost R10 to R25 at other banks' ATMs. If you withdraw cash from an ATM in another country, expect fees of R50 to R150 plus a foreign exchange markup.
What happens after your account is approved
Once your account is approved, the bank will send you a debit card (usually by mail within 5 to 10 business days), online banking credentials via email or SMS, and a welcome pack with your account number and terms. You can start using online banking immediately, even before the card arrives, to set up transfers and pay bills.
Your first login to online banking will require you to set a PIN and confirm your contact details. Most banks require you to verify your phone number and email address before you can make international transfers. This verification usually happens instantly.
If you need to make a large transfer immediately and your card hasn't arrived, you can visit a branch and ask them to process a one-time transfer for you, usually for a small fee (R50 to R100). Some banks also allow you to set up standing orders (recurring transfers) through online banking without needing the physical card.
Frequently Asked Questions
Can I open a South African bank account if I'm not in the country?
Yes, if you have a South African ID number, you can open an account online without visiting a branch. If you don't have an ID number, you'll need to visit a branch in person or ask someone in South Africa to help you open an account on your behalf (though most banks require the account holder to sign documents in person).
Do I need a South African tax number to open an account?
No, a tax number is not required to open a non-resident account. However, if you plan to work in South Africa or earn income there, you'll need to register for a tax number with SARS (South African Revenue Service) and declare your income. The bank may ask about this during the application if you mention employment in South Africa.
What's the difference between a non-resident account and an international account?
A non-resident account is a standard checking account with limits on outbound transfers and sometimes higher fees. An international account is designed for expats and typically has higher transfer limits, multi-currency features, and better exchange rates, but may require a higher minimum balance or proof of employment.
How long does money take to arrive when I transfer it out of South Africa?
International transfers from South Africa typically take 2 to 5 business days to reach another country, depending on the destination bank and whether it's a weekend or holiday. SWIFT transfers are standard; some banks also offer faster services like Wise or MoneyGram for an additional fee.
Can I close my account if I leave South Africa?
Yes, you can close your account at any time by visiting a branch or requesting closure through online banking. The bank will issue a final statement and close the account within 5 to 10 business days. If you have a debit card, you'll need to return it or confirm it's destroyed.