How Xylos moves your money
Moving money across South Africa's border involves exchange control, tax clearances, Reserve Bank reporting and timing. This page sets out what happens when you move money with Xylos, in both directions.
Getting started
A conversation
You speak with a Xylos specialist who understands the travel industry: your seasonality, your agents, your supplier base. Together you map your flows: what comes in, what goes out, in which currencies.
One-time verification
Registering on the secure platform is quick, and FICA verification, covering identity, company documents and proof of address, happens a single time. It then covers every future transaction.
Then transact as needed
From then on, moving money is a call or a click: live quotes, locked rates, and a named account manager who already knows your business. 24/7 visibility from any device.
For international airlines
Airlines operating into South Africa earn in rand and spend in rand, while head office accounts in dollars, euros or pounds. Xylos keeps both directions moving.
Revenue repatriation
Ticket sales and cargo revenues earned in rand, converted and remitted to head office at transparent, industry-leading rates, on a schedule that suits your treasury, with every remittance reported correctly to the Reserve Bank.
Local obligations
Ground handling, fuel, catering, airport charges, crew accommodation, all funded from abroad and settled in rand with the documentation packaged for the authorised dealer each time.
Support for treasury teams
A named specialist for your station and treasury teams, recurring settlement calendars, full audit trails, and protection against currency swings on forward-dated exposures.
Inflows: payments into South Africa
Most travel revenue reaches South Africa in dollars, euros and pounds, and each receipt has to be converted to rand. The rate and fees on that conversion decide how much you keep.
What we handle
Guest deposits and final payments from abroad. Settlements from international agents and tour operators. Trade receipts for services rendered to foreign visitors. Each converted to rand at a transparent, all-inclusive rate, quoted and locked before you accept.
What you don't need to do
Balance-of-payments reporting to the Reserve Bank on every inflow. Supporting documentation and purpose codes. The back-and-forth with banks. Your account manager prepares it; the platform records it; you get a clean audit trail.
Better rates
Priced against the interbank rate with one visible fee, not a retail spread.
Faster settlement
Transacting takes minutes once documentation is in order, not days of branch queues.
Every receipt reported
Correct SARB reporting on each transaction protects your business at audit time.
Outflows: payments out of South Africa
Travel businesses pay suppliers abroad: marketing retainers, trade show costs, overseas representation and agent commissions. All of it crosses the border under South African exchange control.
For businesses
International supplier payments, refunds to foreign guests, commission remittances and overseas costs are executed against your invoices and agreements, with the correct documentation packaged for the authorised dealer and the Reserve Bank each time. Where a payment needs specific approval, we prepare and manage the application. There is no additional charge for this.
For individuals
South African residents may transfer up to R1 million per calendar year under the single discretionary allowance without prior approval. Beyond that, transfers of up to R10 million per year require SARS tax-compliance clearance, the Approval for International Transfer (AIT). We manage the AIT process end to end, at no additional cost.
Managing currency risk
High-end travel books far in advance, often a year or more between deposit and departure. In that time the currency can move against you. For clients with recurring or forward-dated flows, we structure protection against currency fluctuations, so the price you quoted a guest in January still makes sense in December.
Your account manager will model your exposure with you and recommend cover only where it is worthwhile.
For private clients
The same platform serving lodges and operators also serves individuals.
Paying for travel abroad
International guests settling a safari, a villa season or a multi-country itinerary, routed correctly, converted transparently and confirmed quickly to your operator.
Offshore allowances
Using your single discretionary allowance or moving larger sums abroad with AIT clearance, whether for investments, property or family support, guided by a specialist from first call to confirmation.
Relocation & emigration
Moving your life across borders involves the Reserve Bank more than most people expect. We handle the approvals and the transfers.
What you'll need to onboard
- Businesses
- Company registration documents, proof of business address, and identification for directors and authorised signatories: the standard FICA set, submitted once through the secure platform.
- Individuals
- Identity document, proof of address and, for transfers beyond the single discretionary allowance, a SARS tax-compliance application, which your account manager prepares with you.
- Timing
- Registration is quick; verification follows FICA requirements. Once verified, live quotes and transfers are available immediately, with your history visible 24/7.
Compare a recent bank quote
Bring a recent bank statement or a live quote, and a specialist will show you, line for line, what Xylos would have saved.