I am going to list exchangers that would not require your beneficiary SIGN THE REPORTING MANDATE form from The South African Reserve Bank before receiving a transfer.
To receive payout via bank transfer, the South African Reserve Bank requires that you fill out a short reporting form once a year.
If you are sending money from a money transfer agent, such agents have to have local agents in the Country and the local agent would notify the customer of incoming funds via the email or phone and to fill the mandatory form once in a year. If you are receiving funds from the same sender no need to fill the form more than once. If you are receiving from multiple senders you have to fill each form from the Reserve bank. You cannot receive your money without this information.
Here come some people without computer knowledge nor phone and email addresses such as old aged or less privileged partners, family and friends. In this case you have to use an certified exchanger, exchangers within the Country have got their way of sending money and also foreign exchangers might have funds in the Country and do not need to fill the form since payment would be coming to you locally.
1. PerfectMoney is an electronic payment method and a leading financial service allowing the users to make instant payments and to make money transfers securely throughout the Internet. Services of Perfect Money are not available to US citizens or US residents.
Withdraw via Perfect Money:
- Click Perfect Money in the Withdrawal section of your Personal Area.
- Select the trading account you would like to withdraw funds from, select your withdrawal currency, enter your Perfect Money account number, and specify the withdrawal amount in your trading account currency. Click Next.
- A summary of the transaction will be shown. Enter the verification code sent to you either by email or SMS depending on your Personal Area security type. Click Confirm withdrawal then your local bank will be funded.
You can also use perfect money exchangers click here to view closet partners nearby.
2. Paxful is a registered company in the United States. You need to have your account verified then you can trade whatever you wish to. It is very safe and fast with their escrow services added to it. You only have to learn how to trade and how to mark trade as completed else you might lose out with fraudulent users. The system is built to help people all around the World. To exchange electronic money to a local bank, searching for users willing to give local bank and trust scores don’t really matter as long as you follow his/her instructions. Paxful moderators are always online to assist you with any issue.
Sign up and login then click sell and key in your exchange direction that is it!
3. Luno is a leading global cryptocurrency company with Headquartered in London. With luno you can also receive local bank payments in South Africa. Login to your account then purchase the coins in questions and send it out to your bank account within 24hours will you be credited. Its safe and sound. Be careful with your transactions else your account will be closed without notice.
4. Localbitcoins. This is a registered company in Helsinki, Finland. It is safe and fast with their escrow services and it’s a peer to peer exchange provider. This means you can only buy and sell within their service. If you receive bitcoin from an unknown source or wallet mixer service or still send out coins out of their system your account will get deleted. To exchange perfect money you have to search for users exchanging perfect money to local banks. You only have to learn how to trade and how to mark trade as completed else you might lose out with fraudulent users. To exchange electronic money to a local bank, search for users willing to give to the local bank.
5. Valr is South Africa’s company and leading cryptocurrency exchange & trading platform. Trusted by many and receiving local money is not an issue.
6. Rand4Dollar is a company in South Africa allows users to exchange, buy & sell electronic and crypto currencies locally and internationally.
To receive local bank sign up an account it is free no verification needed when selling electronic money. In this case type the banking details of your recipient and pay the order.
To exchange: Choose YOU SEND Perfect Money and YOU RECEIVE Bank Transfer in ZAR.
Now let’s sell bitcoin for cash in the form of bank deposits
Select YOU SEND Bitcoin and YOU RECEIVE Bank Transfer.
Type your desired amount as you send bitcoin then your reception rates will automatically be display.
Proceed by clicking exchange
Type your bank account details correctly then proceed
If you have got other reliable exchanger services providers list them on the comment button below we will add to the list. Thank you for reading Note: This article is not for the purpose of investment. If you wish to conduct any service online kindly conduct your own research. the writer of this would not be held for any loss of life, act of god nor natural disaster occurs.