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Contact us

Incompass Financial Solutions
Authorised Financial Service Provider
Graphic Centre, 2nd Floor
199 Loop Street
Cape Town, 8001 - South Africa

Call us

Ph: +27 (0) 21 424 2936
Fax: +27 (0) 86 568 2086

IFA Currency Transfer Process Flow

This is our IFA currency transfer process explained step-by-step. For an in-depth look, be sure to read the detailed description of our IFA currency transfer services.

 

01

The IFA help desk

You can contact the IFA help desk to register yourself or a client to address currency transfer needs or to answer any queries you may have.
02

Registering yourself

We maintain a register with your details, your client's details and your communication preference. Registration can be done over the phone and all we need is:

  • Your name.
  • Your contact details.
03

Adding a client

You can contact the help desk by phone or email in order for us to capture a client. The minimum information we require is the client's name and contact details. At this stage we will also ask you to nominate a point of contact – either yourself or the client. This will dictate whom we contact during the trading and registration process.
04

Registering a client for trade

If a client is not already registered for trade, a registration pack must be completed:

  • Completed application form.
  • Signed introduction letter.
  • Signed client advice.
  • FICA documentation.

You will receive confirmation via email or sms once the registration has been completed successfully.

05

Requesting a trade

If your client has a need to transfer currency, you or your client can simply notify the help desk. We will discuss the requirements of the specific trade which will include:
  • The amount to be transferred as well as the currency.
  • Destination of the funds as well as the currency.
  • Any exchange control regulations.
06

Exchange control

Incompass will provide the required documentation in order to obtain the appropriate exchange control. The type of documentation requested will depend on the client's needs and the amount to be transferred. The progress of any exchange control applications will be communicated to the nominated point of contact.
07

Receiving funds from the client

The nominated party will be informed of the account details into which the funds should be deposited. All funds received are confirmed by email and sms.
08

Client able to trade

When everything is in place – the client is registered, the appropriate exchange control permissions have been obtained and we have the funds that should be transferred – a trade can be actioned.
09

Trading

The trade is actioned via telephonic communication and then confirmed via a trade confirmation.
10

Trade confirmation

The client, category 2 adviser or power of attorney holder must sign the trade confirmation and return it to us within 24 hours.
11

Feedback

To ensure that we keep on offering the service levels our clients have come to expect, we will invite feedback after each completed trade.
Trusted

Our guarantees

  • Market leading forex rates.
  • No administration fees.
  • ISO 9001 accredited service levels.
  • ISO 27001 accredited security levels.
  • 100% transparency on all money transfers.
  • Tailored services to meet  your money transfer needs.
Go

Get in touch

Phone: +27 (0) 21 424 2936

Fax: +27 (0) 86 568 2086

Email us

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