Outward Payments

Inward Paymemts

Search

All cross-border transactions must be reported

to the South African Reserve Bank in accordance
with its regulations. Balance of Payments

Global Payments
Reporting (BoP) is an electronic message system
used by authorised dealers (i.e. banks) to report
cross-border transactions to the South African
Reserve Bank. When completing an application
for a cross-border transaction, clients are required

(Outward Payments)
to provide the reason/s for the transaction. Use
the lists provided to select the correct BoP code/s
for your transaction. Please note that a transaction
may involve more than one reason.

Back Next

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
1
Global Payments (Outward Payments) Outward Payments

Inward Paymemts
Imports: Advance payments..............................................................3 Compensation of employees ............................................................9

Advance payments in terms of imports undertaking.........................3 Commission or brokerage ..............................................................10 Search

Imports...............................................................................................4 Rental................................................................................................10

Import payments in terms of an Import Undertaking........................4 Interest in respect of loans...............................................................10

Other Imports....................................................................................5 Interest paid not in respect of loans.................................................10

Payments made for the use of intellectual property..........................6 Investment and security listed..........................................................10

Payments for the acquisition of intellectual property........................6 Gifts..................................................................................................10

Professional management and technical services.............................6 Contributions and donations ..........................................................11

Film, TV and radio production and distribution services...................7 Pension related payments................................................................11

Computer software and related items...............................................7 Inheritances......................................................................................11

Technical related services .................................................................7 Maintenance (spouse and dependants)...........................................11

Travel by non-residents .....................................................................7 Income tax ......................................................................................11

Travel by residents.............................................................................8 Insurance premiums and claims.......................................................11

Payments relating to telecommunications.........................................8 Disinvestments by non-residents.....................................................12

Electronic data services......................................................................8 Investment by a resident corporate entity ......................................12

Services related to transportation......................................................8 Investment not related to the investment allowance.......................12

Payments for postal and courier services..........................................8 Foreign investment by resident individuals ....................................13

Financial services................................................................................9 Emigrant transfers ...........................................................................13

Payments for construction services ...................................................9 Inward listed investments ...............................................................13

Government services.........................................................................9 Prudential investments by institutional investors and banks............14

Payments relating to studies .............................................................9 Derivatives ......................................................................................14

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Operational leasing............................................................................9 Loans .............................................................................................. 14

Dividends...........................................................................................9 Miscellaneous payments..................................................................15

Sasfin Bank Ltd. Reg no. 1951/002280/06. An
Branch profits ...................................................................................9
authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
2
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Imports: Advance payments

The international exporter requires Advance payment (excluding capital goods, gold, platinum, crude oil,
payment before dispatching 101 01 refined petroleum products, diamonds, steel, coal, iron ore and goods Search
goods to South Africa. imported via the South African Post Office)
101 02 Advance payment - Capital goods1
101 03 Advance payment - Gold
101 04 Advance payment - Platinum
101 05 Advance payment - Crude oil
101 06 Advance payment - Refined petroleum products
101 07 Advance payment - Diamonds
101 08 Advance payment - Steel
101 09 Advance payment - Coal
101 10 Advance payment - Iron ore
101 11 Imports via the South African Post Office

Advance payments in terms of imports undertaking

These codes are used when you Advance payment (excluding capital goods, gold, platinum, crude oil,
102 01 refined petroleum products, diamonds, steel, coal and iron ore)
have a dispensation from the
South African Reserve Bank to
make import payments without 102 02 Advance payment - Capital goods1
providing all documentation at 102 03 Advance payment - Gold
time of payment. Documents are
retained at your premises for 102 04 Advance payment - Platinum
SARB inspection if required. 102 05 Advance payment - Crude oil
102 06 Advance payment - Refined petroleum products
102 07 Advance payment - Diamonds
102 08 Advance payment - Steel
102 09 Advance payment - Coal Back Next
102 10 Advance payment - Iron ore
102 11 Imports via the South African Post Office

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
//// 1 Capital goods assist with the production of consumer goods or services. These are reported as assets on a company’s balance sheet and 23833. A registered credit provider NCRCP22 and
often depreciate over time. a member of the Sasfin Group
3
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Imports
These codes are used when you Import payment (excluding capital goods, gold, platinum, crude oil,
are making a payment for goods
that have already been received
103 01 refined petroleum products, diamonds, steel, coal, iron ore and goods Search
imported via the South African Post Office)
in South Africa.
103 02 Import payment - Capital goods1
103 03 Advance payment - Gold
103 04 Advance payment - Platinum
103 05 Advance payment - Crude oil
103 06 Advance payment - Refined petroleum products
103 07 Advance payment - Diamonds
103 08 Advance payment - Steel
103 09 Advance payment - Coal
103 10 Advance payment - Iron ore
103 11 Imports via the South African Post Office

Import payments in terms of an Import Undertaking

Import payment (excluding capital goods, gold, platinum, crude oil,
104 01 refined petroleum products, diamonds, steel, coal, iron ore and goods
imported via the South African Post Office)
104 02 Advance payment - Capital goods1
104 03 Advance payment - Gold
104 04 Advance payment - Platinum
104 05 Advance payment - Crude oil
104 06 Advance payment - Refined petroleum products
104 07 Advance payment - Diamonds
104 08 Advance payment - Steel
104 09 Advance payment - Coal Back Next
104 10 Advance payment - Iron ore
104 11 Imports via the South African Post Office

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
//// 1 Capital goods assist with the production of consumer goods or services. These are reported as assets on a company’s balance sheet and 23833. A registered credit provider NCRCP22 and
often depreciate over time. a member of the Sasfin Group
4
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Other Imports
105 Consumables acquired in port

106 Trade finance repayments in respect of imports Search

107 Import payments less than R 500
Import payments where goods were declared as part of passenger
108 baggage and no Movement Reference Number (MRN) is available
Payments for goods purchased from non-residents in cases where no
physical import will take place, excluding gold, platinum, crude oil,
109 01 refined petroleum products, diamonds, steel, coal and iron ore as well
as merchanting transactions

Payments for gold purchased from non-residents in cases where no

109 02 physical import will take place, excluding merchanting transactions
Payments for platinum purchased from non-residents in cases where no
109 03 physical import will take place, excluding merchanting transactions
Payments for crude oil purchased from non-residents in cases where no
109 04 physical import will take place, excluding merchanting transactions
Payments for refined petroleum products purchased from non-
109 05 residents in cases where no physical import will take place, excluding
merchanting transactions
Payments for diamonds purchased from non-residents in cases where no
109 06 physical import will take place, excluding merchanting transactions
Payments for steel purchased from non-residents in cases where no
109 07 physical import will take place, excluding merchanting transactions
Payments for coal purchased from non-residents in cases where no
109 08 physical import will take place, excluding merchanting transactions
Payments for iron ore purchased from non-residents in cases where no
109 09
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physical import will take place, excluding merchanting transactions

110 Merchanting Transaction2

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

//// 2 Merchanting transactions occur where a South African merchant purchases goods offshore (from an international supplier) and sells the
goods offshore (to an international buyer) without the goods entering South Africa. The outward transfer of funds in this type of transaction authorised financial services provider licence no.
will be reported as a Merchanting Transaction. Also applicable where goods are held in a bonded warehouse while in transit to the purchaser 23833. A registered credit provider NCRCP22 and
offshore and not released by South African customs. a member of the Sasfin Group
5
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Payments made for the use of intellectual property
201 Rights obtained for licences to reproduce and/or distribute
202 Rights obtained for using patents and inventions (licensing) Search
203 Rights obtained for using patterns and designs
204 Rights obtained for using copyrights
205 Rights obtained for using franchises and trademarks

Payments for the acquisition of intellectual property

210 Acquisition of patents and inventions
211 Acquisition of patterns and designs (industrial processes)
212 Acquisition of copyrights
213 Acquisition of franchises and trademarks

Professional management and technical services

220 Payments made for research and development services
221 Funding for research and development
241 Payment for repairs and maintenance on machinery and equipment
242 Payment for architectural, engineering and other technical services
243 Payment for agricultural, mining, waste treatment and de-pollution services
287 Payment for legal services
288 Payment for accounting services
289 Payment for management consulting services
290 Payment for public relation services
291 Payment for advertising and market research services
292 Payment for managerial services
293 Payment for medical and dental services Back Next
294 Payment for educational services
296 Payment for cultural and recreational services
297 Payment for other business services not included elsewhere
Sasfin Bank Ltd. Reg no. 1951/002280/06. An
authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
6
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Film, TV and radio production and distribution services
225 Acquisition of original manuscripts, sound recordings and films
Payment relating to the production of motion pictures, radio and Search
226
television programmes and musical recordings

Computer software and related items

230 The outright purchasing of ownership rights of software

231 Computer-related services including maintenance, repair and consultancy

232 Commercial purchases of customised software and related licences to use

Commercial purchases of non-customised software on physical media
233
with periodic licence to use
Commercial purchases of non-customised software provided on physical
234
media with right to perpetual (ongoing) use
Commercial purchases of non-customised software downloaded or
235
electronically acquired with periodic licence
Commercial purchases of non-customised software downloaded or
236
electronically acquired with single payment

Technical related services

Fees for processing - processing done on materials (excluding gold,
240 01 platinum, crude oil, refined petroleum products, diamonds, steel,
coal and iron ore)
240 02 Processing fees - Gold
240 03 Processing fees - Platinum
240 04 Processing fees - Crude oil
240 05 Processing fees - Refined petroleum products
240 06 Processing fees - Diamonds
240 07 Processing fees - Steel Back Next
240 08 Processing fees - Coal
240 09 Processing fees - Iron ore

Travel by non-residents
Sasfin Bank Ltd. Reg no. 1951/002280/06. An
250 Foreign currency purchased by non-residents - Business travel authorised financial services provider licence no.
Foreign currency purchased by non-residents - Holiday travel 23833. A registered credit provider NCRCP22 and
251
a member of the Sasfin Group
7
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Travel by residents
255 Foreign currency purchased by residents - Business travel3
256 Foreign currency purchased by residents - Holiday travel4 Search
260 Payments by residents for business travel
261 Payments by residents for holiday travel

Payments relating to telecommunications

265 Payment for telecommunication services

Electronic data services

266 Payment for services - Data, news related and news agency fees

Services related to transportation

270 01 Payment for passenger services - Road
270 02 Payment for passenger services - Rail
270 03 Payment for passenger services - Sea
270 04 Payment for passenger services - Air
271 01 Payment for freight services - Road
271 02 Payment for freight services - Rail
271 03 Payment for freight services - Sea
271 04 Payment for freight services - Air
272 01 Payment for other transport services - Road
272 02 Payment for other transport services - Rail
272 03 Payment for other transport services - Sea
272 04 Payment for other transport services - Air

Payments for postal and courier services

273 01 Payment for postal and courier services - Road Back Next
273 02 Payment for postal and courier services - Rail
273 03 Payment for postal and courier services - Sea
273 04 Payment for postal and courier services - Air
Sasfin Bank Ltd. Reg no. 1951/002280/06. An
//// 3 This code is used when South African residents purchase foreign currency for business purposes (if a business entity in South Africa, the authorised financial services provider licence no.
Omnibus Travel Facility is applicable).
23833. A registered credit provider NCRCP22 and
//// 4 This code is used when South African residents purchase foreign currency for holiday purposes using their Single Discretionary Allowance. a member of the Sasfin Group
8
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Financial services
275 Payments for commission and fees
276 Payments for advisory services Search
Payments for construction services
280 Payment for construction services

Government services
281 Payment for government services
282 Diplomatic transfers

Payments relating to studies

285 Payments for tuition fees

Operational leasing
295 Payments for operational leasing

Dividends
301 Dividends

Branch profits
302 Branch profits

Compensation of employees
303 Salary paid by a resident to a resident employee temporarily abroad
304 Salary paid by a resident to a non-resident employee
305 Salary paid by a resident to a migrant worker employee
306 Salary paid by a South African resident to a foreign national contract worker Back Next
416 Migrant worker remittances (excluding compensation)
417 Foreign national contract worker remittances (excluding salary)

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
9
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Commission or brokerage
307 Commission or brokerage
Search
Rental
308 Rental

Interest in respect of loans

These codes are used when a loan 309 04 Interest paid to a non-resident in respect of shareholders loans
has been approved by the South
African Reserve Bank and the 309 05 Interest paid to a non-resident in respect of third-party loans
interest associated with the loan 309 06 Interest paid to a non-resident in respect of trade finance loans
must be repaid.
309 07 Interest paid to a non-resident in respect of a bond

Interest paid not in respect of loans

309 08 Interest paid not in respect of loans

Investment and security listed

312 01 Fee - Inward listed securities derivatives individual
312 02 Fee - Inward listed securities derivatives corporate
312 03 Fee - Inward listed securities derivatives bank
312 04 Fee - Inward listed securities derivatives institution

Gifts
401 Gift5

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Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
//// 5 This is only applicable for individuals sending a gift to another individual using their Single Discretionary Allowance. a member of the Sasfin Group
10
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Contributions and donations
402 Annual contributions
403 Contributions in respect of social security schemes Search
Contributions in respect of foreign charitable, religious and cultural
404
(excluding research and development)
Other donations / aid to a foreign government (excluding research
405
and development)
Other donations / aid to a foreign private sector (excluding research
406
and development)
501 Donations by South African government for fixed assets
502 Donations by corporate entities - Fixed assets

Pension related payments

407 Pensions
408 Annuities relating to pension

Inheritances
409 Inheritances

Maintenance (spouse and dependants)

410 Alimony / Maintenance

Income tax
411 01 Tax - Income tax
411 02 Tax - VAT refunds
411 03 Tax - Other

Insurance premiums and claims

Back Next
412 Insurance premiums (non-life / short-term)
413 Insurance claims (non-life / short-term)
414 Insurance premiums (life)
415 Insurance claims (life) Sasfin Bank Ltd. Reg no. 1951/002280/06. An
authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
11
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Disinvestments by non-residents
503 Disinvestment of property by a non-resident corporate entity
510 01 Disinvestment of property by a non-resident individual Search
510 02 Disinvestment by a non-resident individual - Other
601 01 Listed shares - Sale proceeds paid to a non-resident
601 02 Non-listed shares - Sale proceeds paid to a non-resident
602 Disinvestment of moneymarket instruments by a non-resident
603 01 Disinvestments of listed bonds (excluding loans)
603 02 Disinvestments of non-listed bonds (excluding loans)

Investment by a resident corporate entity

504 Investment into property by a resident corporate entity
605 01 Share investment - Agriculture, hunting, forestry, fishing
605 02 Share investment - Mining, quarrying and exploration
605 03 Share investment - Manufacturing
605 04 Share investment - Electricity, gas and water supply
605 05 Share investment - Construction
605 06 Share investment - Wholesale, retail, repairs, hotel
605 07 Share investment - Transport and communication
605 08 Share investment - Financial services
605 09 Share investment - Community, social and personal services

Investment not related to the investment allowance

511 01 Individual Investment - Shares
511 02 Individual Investment - Bonds
511 03 Individual Investment - Money market instruments Back Next
511 04 Individual Investment - Deposits with a foreign bank
511 05 Individual Investment - Mutual funds/collective investment schemes
511 06 Individual Investment - Property
Sasfin Bank Ltd. Reg no. 1951/002280/06. An
511 07 Individual Investment - Other authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
12
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Foreign investment by resident individuals
Investment Allowance is available to 512 01 Foreign investments - Shares
individuals 18 years and older who
are taxpayers in good standing. Tax
512 02 Foreign investments - Bonds Search
Clearance Certificate is required for 512 03 Foreign investments - Money market instruments
these transactions. If an entity sends
a global payment using these codes,
512 04 Foreign investments - Deposits with a foreign bank
the individual third-party details 512 05 Foreign investments - Mutual funds / CIS
must be provided.
512 06 Foreign investments - Property
512 07 Foreign investments - Other
513 Investment into a local foreign currency account

Emigrant transfers
These codes are used for the transfer 530 01 Emigration foreign capital allowance - Fixed property
of capital after the individual’s
emigration has been placed on record
530 02 Emigration foreign capital allowance - Listed investment
with the South African Reserve Bank. 530 03 Emigration foreign capital allowance - Unlisted investment
530 04 Emigration foreign capital allowance - Insurance policy
530 05 Emigration foreign capital allowance - Cash
530 06 Emigration foreign capital allowance - Debtors
530 07 Emigration foreign capital allowance - Capital from trust
530 08 Emigration foreign capital allowance - Other assets

Inward listed investments

These codes are used for payments 610 01 Inward listed securities equity individual
that result from inward listings that
have taken place.
610 02 Inward listed securities equity corporate
610 03 Inward listed securities equity bank
610 04 Inward listed securities equity institution
611 01 Inward listed securities debt individual
611 02 Inward listed securities debt corporate Back Next
611 03 Inward listed securities debt bank
611 04 Inward listed securities debt institution
612 01 Inward listed securities derivatives individual
612 02 Inward listed securities derivatives corporate Sasfin Bank Ltd. Reg no. 1951/002280/06. An
authorised financial services provider licence no.
612 03 Inward listed securities derivatives bank
23833. A registered credit provider NCRCP22 and
612 04 Inward listed securities derivatives institution a member of the Sasfin Group
13
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Prudential investments by institutional investors and banks
615 01 Investment - Asset Manager
615 02 Investment - Collective Investment Scheme Search
615 03 Investment - Retirement Fund
615 04 Investment - Life (linked)
615 05 Investment - Life (non-linked)
616 Bank prudential Investment
Derivatives
701 01 Options - Listed
701 02 Options - Unlisted
702 01 Futures - Listed
702 02 Futures - Unlisted
703 01 Warrants - Listed
703 02 Warrants - Unlisted
704 01 Gold hedging - Listed
704 02 Gold hedging - Unlisted
705 01 Derivative not specified above - Listed
705 02 Derivative not specified above - Unlisted
Loans
801 Repayment of trade finance drawn down in South Africa
802 Repayment of an international bond drawn down
Repayment by a South African resident of a loan from
803
a non-resident shareholder6
Repayment by a South African resident of a loan from
804
a non-resident third-party
810 Loan made by a resident to a resident temporarily abroad
Back Next
815 Individual loan to a non-resident
816 Study loan to a non-resident
817 Shareholders loan to a non-resident
818 Third-party loan to a non-resident (excluding shareholders) Sasfin Bank Ltd. Reg no. 1951/002280/06. An
819 Trade finance loan to a non-resident authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
//// 6 These codes are used when a South African resident borrows funds from a natural person or legal entity not resident in South Africa -
the Loan has to be authorised and a Loan Reference Number obtained from the South African Reserve Bank’s Loan Reporting Systems. a member of the Sasfin Group
14
 OUTWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Miscellaneous payments
830 Details of payments not classified
831 Rand collections for the credit of vostro accounts Search
Credit/Debit card company settlement as well as money
833
remitter settlements

Back Next

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
15
 Outward Payments

Inward Paymemts

Search

All cross-border transactions must be reported

to the South African Reserve Bank in accordance
with its regulations. Balance of Payments

Global Receipts
Reporting (BoP) is an electronic message system
used by authorised dealers (i.e. banks) to report
cross-border transactions to the South African
Reserve Bank. When completing an application
for a cross-border transaction, clients are required

(Inward Payments)
to provide the reason/s for the transaction. Use
the lists provided to select the correct BoP code/s
for your transaction. Please note that a transaction
may involve more than one reason.

Back Next

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
16
Global Receipts (Inward Payments) Outward Payments

Inward Paymemts
Exports: Advance payments............................................................18 Rental .............................................................................................24

Exports.............................................................................................18 Interest in respect of loans ..............................................................24 Search

Proceeds received for the use of intellectual property....................20 Interest paid not in respect of loans.................................................25

Proceeds from the sale of intellectual property...............................20 Income in respect of inward listed securities...................................25

Professional management and technical services............................20 Income in respect of inward listed securities ..................................25

Film, TV and radio production and distribution services ................21 Income earned abroad by South African resident on an
individual investment......................................................................25
Computer software and related items.............................................21
Gifts ................................................................................................25
Technical related services ...............................................................21
Contributions and donations ..........................................................25
Travel by non-residents .................................................................. 21
Pension related payments ..............................................................26
Travel by residents ..........................................................................22
Inheritances ....................................................................................26
Travel services in respect of third-parties.........................................22
Maintenance (spouse and dependants)..........................................26
Proceeds relating to telecommunications........................................22
Income tax ......................................................................................26
Electronic data services....................................................................22
Insurance premiums and claims.......................................................26
Services related to transportation....................................................22
Investments by non-residents .........................................................26
Proceeds for postal and courier services.........................................23
Disinvestment by a resident corporate entity..................................27
Financial services.............................................................................23
Disinvestment of capital. ................................................................27
Proceeds for construction services .................................................23
Repatriation of foreign investment on instruction by Finsurv .........27
Government services.......................................................................23
Immigrants - inward transfers...........................................................28
Proceeds relating to studies.............................................................23
Inward listed investments ...............................................................28
Operational leasing..........................................................................23

Dividends.........................................................................................23
Prudential investments (institutional investors and banks) .............28
Back Next
Derivatives ......................................................................................29
Branch profits...................................................................................23
Loans................................................................................................29
Compensation of employees ..........................................................24
Miscellaneous payments .................................................................29 Sasfin Bank Ltd. Reg no. 1951/002280/06. An
Commission or brokerage................................................................24
authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
17
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Exports: Advance payments

These codes are used when payments Advance payment (excluding capital goods, gold, platinum, crude oil,
are received in advance before goods 101 01 refined petroleum products, diamonds, steel, coal, iron ore and goods Search
are shipped out of South Africa, exported via the South African Post Office)
provided it is a requirement as part of
101 02 Advance payment - Capital goods1
the terms of payment.
101 03 Advance payment - Gold
101 04 Advance payment - Platinum
101 05 Advance payment - Crude oil
101 06 Advance payment - Refined petroleum products
101 07 Advance payment - Diamonds
101 08 Advance payment - Steel
101 09 Advance payment - Coal
101 10 Advance payment - Iron ore
101 11 Advance payment - Goods exported via the South African Post Office

Exports

These codes are used where goods Export payments (excluding capital goods, gold, platinum, crude oil,
are exported from South Africa. 103 01 refined petroleum products, diamonds, steel, coal, iron ore and goods
exported via the South African Post Office)
103 02 Export payment - Capital goods1
103 03 Export payment - Gold
103 04 Export payment - Platinum
103 05 Export payment - Crude oil
103 06 Export payment - Refined petroleum products
103 07 Export payment - Diamonds
103 08 Export payment - Steel
103 09 Export payment - Coal Back Next
103 10 Export payment - Iron ore
103 11 Export payment - Goods exported via the South African Post Office

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
//// 1 Capital goods assist with the production of consumer goods or services. These are reported as assets on a company’s balance sheet and 23833. A registered credit provider NCRCP22 and
often depreciate over time. a member of the Sasfin Group
18
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Exports
These codes are used once the 105 Consumables acquired in port
goods have been delivered outside
of South Africa. 106 Trade finance repayments in respect of exports Search
107 Export proceeds where the customs value of the shipment is less than R500
Export payments where goods were declared as part of passenger
108
baggage and no Unique Consignment Reference (UCR) is available
Proceeds for goods purchased by non-residents where no physical
export will take place, excluding gold, platinum, crude oil, refined
109 01
petroleum products, diamonds, steel, coal and iron ore as well as
merchanting transactions
Proceeds for gold purchased by non-residents where no physical export
109 02
will take place, excluding merchanting transactions
Proceeds for platinum purchased by non-residents where no physical
109 03
export will take place, excluding merchanting transactions
Proceeds for crude oil purchased by non-residents where no physical
109 04
export will take place, excluding merchanting transactions
Proceeds for refined petroleum products purchased by non-residents where
109 05
no physical export will take place, excluding merchanting transactions
Proceeds for diamonds purchased by non-residents where no physical
109 06
export will take place, excluding merchanting transactions
Proceeds for steel purchased by non-residents where no physical export
109 07
will take place, excluding merchanting transactions
Proceeds for coal purchased by non-residents where no physical export
109 08
will take place, excluding merchanting transactions
Proceeds for iron ore purchased by non-residents where no physical
109 09
export will take place, excluding merchanting transactions
110 Merchanting transaction2

Back Next

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

//// 2 Merchanting transactions occur where a South African merchant purchases goods offshore (from an international supplier) and sells the
goods offshore (to an international buyer) without the goods entering South Africa. The inward transfer of funds in this type of transaction
authorised financial services provider licence no.
will be reported as a Merchanting Transaction. Also applicable where goods are held in a bonded warehouse while in transit to the purchaser 23833. A registered credit provider NCRCP22 and
offshore and not released by South African customs. a member of the Sasfin Group
19
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Proceeds received for the use of intellectual property
201 Rights assigned for licences to reproduce and/or distribute
202 Rights assigned for using patents and inventions (licensing) Search
203 Rights assigned for using patterns and designs
204 Rights assigned for using copyrights
205 Rights assigned for using franchises and trademarks

Proceeds from the sale of intellectual property

210 Disposal of patents and inventions
211 Disposal of patterns and designs
212 Disposal of copyrights
213 Disposal of franchises and trademarks

Professional management and technical services

220 Proceeds received for research and development services
221 Funding for research and development
241 Repairs and maintenance on machinery and equipment
242 Architectural, engineering and other technical services
243 Agricultural, mining, waste treatment and de-pollution services
287 Proceeds for legal services
288 Proceeds for accounting services
289 Proceeds for management consulting services
290 Proceeds for public relation services
291 Proceeds for advertising and market research services
292 Proceeds for managerial services
293 Proceeds for medical and dental services
Back Next
294 Proceeds for educational services
296 Proceeds for cultural and recreational services
297 Proceeds for other business services not included elsewhere
Sasfin Bank Ltd. Reg no. 1951/002280/06. An
authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
20
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Film, TV and radio production and distribution services
225 Sales of original manuscripts, sound recordings and films
226 Proceeds - Production of audio, video programmes, recordings7 Search
Computer software and related items
230 The outright selling of ownership rights of software
231 Computer-related services including maintenance, repair and consultancy
Commercial sales of customised software and related licences for use
232
by customers
Commercial sales of non-customised software on physical media with
233
periodic licence to use
Commercial sales of non-customised software provided on physical
234
media with right to perpetual (ongoing) use
Commercial sales of non-customised software provided for downloading
235
or electronically made available with periodic licence
Commercial sales of non-customised software provided for downloading
236
or electronically made available with single payment

Technical related services

Fees for processing done on materials (excluding gold, platinum, crude
240 01
oil, refined petroleum products, diamonds, steel, coal and iron ore)
240 02 Processing fees - Gold
240 03 Processing fees - Platinum
240 04 Processing fees - Crude oil
240 05 Processing fees - Refined petroleum products
240 06 Processing fees - Diamonds
240 07 Processing fees - Steel
240 08 Processing fees - Coal
240 09 Processing fees - Iron ore Back Next
Travel by non-residents
250 Foreign currency received from non-residents - Business travel
251 Foreign currency received from non-residents - Holiday travel Sasfin Bank Ltd. Reg no. 1951/002280/06. An
252 Foreign currency accepted by residents from non-residents authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
//// 7 This code is used when an international company pays a South African company to make a recording, which will be used in South
Africa and abroad. a member of the Sasfin Group
21
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Travel by residents
255 Forex received from South African resident - Unutilised business travel
256 Forex received from South African resident - Unutilised holiday travel Search
Travel services in respect of third-parties
These codes are usually used for 260 Proceeds received for business travel
land arrangements.
261 Proceeds received for holiday travel

Proceeds relating to telecommunications

265 Proceeds for telecommunication services

Electronic data services

Proceeds for information services including data, news related and news
266
agency fees

Services related to transportation

270 01 Proceeds for passenger services - Road
270 02 Proceeds for passenger services - Rail
270 03 Proceeds for passenger services - Sea
270 04 Proceeds for passenger services - Air
271 01 Proceeds for freight services - Road
271 02 Proceeds for freight services - Rail
271 03 Proceeds for freight services - Sea
271 04 Proceeds for freight services - Air
272 01 Proceeds for other transport services - Road
272 02 Proceeds for other transport services - Rail
272 03 Proceeds for other transport services - Sea Back Next
272 04 Proceeds for other transport services - Air

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
22
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Proceeds for postal and courier services
These codes are used when the 273 01 Proceeds for postal and courier services - Road
South African customer receives
payment for the courier services 273 02 Proceeds for postal and courier services - Rail Search
on the goods exported. 273 03 Proceeds for postal and courier services - Sea
273 04 Proceeds for postal and courier services - Air

Financial services
275 Commission and fees
276 Advisory services

Proceeds for construction services

280 Proceeds for construction services8

Government services
281 Proceeds for government services
282 Diplomatic transfers

Proceeds relating to studies

285 Tuition fees

Operational leasing
295 Operational leasing

Dividends
301 Dividends

Branch profits
302 Branch profits Back Next

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
//// 8 Proceeds where the South African resident renders the construction services. a member of the Sasfin Group
23
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Compensation of employees
If an entity receives payment using Compensation paid by a non-resident to a resident employee
Search
one of these codes, the individual 303
temporarily abroad (excluding remittances)
third-party details must be provided.
Compensation paid by a non-resident to a non-resident employee in
304
South Africa (excluding remittances)
Compensation paid by a non-resident to a migrant worker employee
305
(excluding remittances)
Compensation paid by a non-resident to a foreign national contract
306
worker employee (excluding remittances)
416 Migrant worker remittances (excluding compensation)
417 Foreign national contract worker remittances (excluding compensation)

Commission or brokerage
307 Commission or brokerage

Rental
308 Rental

Interest in respect of loans

309 01 Interest received from a resident temporarily abroad in respect of loans
309 02 Interest received from a non-resident in respect of individual loans
309 03 Interest received from a non-resident in respect of study loans
309 04 Interest received from a non-resident in respect of shareholders loans
309 05 Interest received from a non-resident in respect of third-party loans
309 06 Interest received from a non-resident in respect of trade finance loans
309 07 Interest received from a non-resident in respect of a bond

Back Next

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
24
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Interest paid not in respect of loans
309 08 Interest received not in respect of loans
Search
Income in respect of inward listed securities
310 01 Income in respect of inward listed securities equity individual
310 02 Income in respect of inward listed securities equity corporate
310 03 Income in respect of inward listed securities equity bank
310 04 Income in respect of inward listed securities equity institution
311 01 Income in respect of inward listed securities debt individual
311 02 Income in respect of inward listed securities debt corporate
311 03 Income in respect of inward listed securities debt bank
311 04 Income in respect of inward listed securities debt institution

Income in respect of inward listed securities

312 01 Income in respect of inward listed securities derivatives individual
312 02 Income in respect of inward listed securities derivatives corporate
312 03 Income in respect of inward listed securities derivatives bank
312 04 Income in respect of inward listed securities derivatives institution

Income earned abroad by South African resident on an individual investment

313 Income earned abroad by a resident on an individual investment

Gifts
401 Gifts

Contributions and donations

402 Annual contributions
403 Contributions in respect of social security schemes
Back Next
Contributions in respect of charitable, religious and cultural (excluding
404
research and development)
405 Other donations / aid to government (excluding research and development)
Sasfin Bank Ltd. Reg no. 1951/002280/06. An
406 Other donations / aid to private sector (excluding research and development)
authorised financial services provider licence no.
501 Donations to South African government for fixed assets 23833. A registered credit provider NCRCP22 and
502 Donations to corporate entities - Fixed assets a member of the Sasfin Group
25
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Pension related payments
407 Pensions
408 Annuities relating to pension Search
Inheritances
409 Inheritances9

Maintenance (spouse and dependants)

410 Alimony / Maintenance

Income tax
411 01 Tax - Income tax
411 02 Tax - VAT refunds
411 03 Tax - Other

Insurance premiums and claims

412 Insurance premiums (non-life / short-term)
413 Insurance claims (non-life / short-term)
414 Insurance premiums (life)
415 Insurance claims (life)

Investments by non-residents
503 Investment into property by a non-resident corporate entity
510 01 Investment into property by a non-resident individual
510 02 Investment by a non-resident individual - Other
601 01 Investment in listed shares
601 02 Investment in non-listed shares Back Next
602 Investment into money market instruments by a non-resident
603 01 Investment into listed bonds (excluding loans)
603 02 Investment into non-listed bonds (excluding loans)
Sasfin Bank Ltd. Reg no. 1951/002280/06. An
authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
//// 9 Inheritance refers to money, property or other assets that are received from a deceased estate as per the last will and testament. a member of the Sasfin Group
26
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Disinvestment by a resident corporate entity
504 Disinvestment of property by a resident corporate entity
Disinvestment of shares by resident - Agriculture, hunting, forestry Search
605 01
and fishing
605 02 Disinvestment of shares by resident - Mining, quarrying and exploration
605 03 Disinvestment of shares by resident - Manufacturing
605 04 Disinvestment of shares by resident - Electricity, gas and water supply
605 05 Disinvestment of shares by resident - Construction
Disinvestment of shares by resident - Wholesale, retail, repairs, hotel
605 06
and restaurants
605 07 Disinvestment of shares by resident - Transport and communication
605 08 Disinvestment of shares by resident - Financial services
Disinvestment of shares by resident - Community, social and
605 09
personal services

Disinvestment of capital
These codes are used when 511 01 Disinvestment of capital by a resident individual - Shares
individuals utilise permissible
investment allowances and are 511 02 Disinvestment of capital by a resident individual - Bonds
required to disinvest and return 511 03 Disinvestment of capital by a resident individual - Money market instruments
the proceeds.
Disinvestment of capital by a resident individual - Deposits with a
511 04
If an entity receives payment using foreign bank
one of these codes, the individual Disinvestment of capital by a resident individual - Mutual funds /
third-party details must be provided. 511 05
collective investment schemes
511 06 Resident individual disinvestment - Property
511 07 Disinvestment of capital by a resident individual - Other

Repatriation of foreign investment on instruction by Finsurv

Repatriation of capital, on instruction by the Financial Surveillance Back Next
516 Department, of a foreign investment by a resident individual in respect
of cross-border flows
Repatriation of capital, on instruction by the Financial Surveillance
Department, of a foreign investment by a resident individual originating
517 Sasfin Bank Ltd. Reg no. 1951/002280/06. An
from an account conducted in foreign currency held at an Authorised
Dealer in South Africa
authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
27
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Immigrants - inward transfers
530 01 Inwards transfers in respect of immigration
Search
Inward listed investments
610 01 Inward listed securities equity individual buy back
610 02 Inward listed securities equity corporate buy back
610 03 Inward listed securities equity bank buy back
610 04 Inward listed securities equity institution buy back
611 01 Inward listed securities debt individual redemption
611 02 Inward listed securities debt corporate redemption
611 03 Inward listed securities debt bank redemption
611 04 Inward listed securities debt institution redemption
612 01 Inward listed securities derivatives individual proceeds
612 02 Inward listed securities derivatives corporate proceeds
612 03 Inward listed securities derivatives bank proceeds
612 04 Inward listed securities derivatives institution proceeds

Prudential investments (institutional investors and banks)

615 01 Disinvestment by resident institutional investor - Asset Manager
Disinvestment by resident institutional investor - Collective
615 02
Investment Scheme
615 03 Disinvestment by resident institutional investor - Retirement Fund
615 04 Disinvestment by resident institutional investor - Life (linked)
615 05 Disinvestment by resident institutional investor - Life (non-linked)
616 Bank prudential Investment

Back Next

Sasfin Bank Ltd. Reg no. 1951/002280/06. An

authorised financial services provider licence no.
23833. A registered credit provider NCRCP22 and
a member of the Sasfin Group
28
 INWARD FOREX TRANSACTIONS Outward Payments
BoP Sub
Category Description
Code Code
Inward Paymemts
Derivatives
701 01 Options - Listed
701 02 Options - Unlisted Search
702 01 Futures - Listed
702 02 Futures - Unlisted
703 01 Warrants - Listed
703 02 Warrants - Unlisted
704 01 Gold Hedging - Listed
704 02 Gold Hedging - Unlisted
705 01 Derivative not specified above - Listed
705 02 Derivative not specified above - Unlisted

Loans
801 Trade finance loan drawn down in South Africa
802 International bond drawn down
803 Loan made to a resident by a non-resident shareholder10
804 Loan made to a resident by a non-resident third-party10
Repayment by a South African resident temporarily abroad of a loan
810
granted by a resident
815 Repayment of individual loan to a resident
816 Repayment of a study loan to a resident
817 Repayment of a shareholders loan to a resident
Repayment of a third-party loan to a South African resident
818
(excluding shareholders)
819 Repayment of a trade finance loan to a resident

Miscellaneous payments Back Next

830 Details of payments not classified
Rand drafts/cheques drawn on vostro accounts (only applicable if no
832
description is available)
Credit/Debit card company settlement as well as money Sasfin Bank Ltd. Reg no. 1951/002280/06. An
833 authorised financial services provider licence no.
remitter settlements
23833. A registered credit provider NCRCP22 and
//// 10 Introduction of Loan Funds require Exchange Control Approval and the Loan Reference Number to be recorded. a member of the Sasfin Group
29