Reminder: Your Single Discretionary Allowance expires 31 December 2025

Every South African citizen over 18 with a South African identity document may transfer up to R1 million overseas every year without needing a tax compliance status letter. This is known as your Single Discretionary Allowance (SDA).

Your SDA expires on 31 December 2025, so if you want to invest offshore, pay for goods and services abroad, or support children studying overseas, now is the perfect time to take that next step.

And the good news is that it couldn’t be easier.

With just a few taps on the Nedbank Private Wealth app, you can maximise your allowance, access global markets, and diversify your investments.

How it works

Use the Nedbank Private Wealth app to transfer money to your international Focus account in four easy steps. Please ensure you are registered on both the local and international sides of the app.

1. Log into the Nedbank Private Wealth app.

2. Select Transact at the bottom of the screen, then choose Transfer from the options provided.

3. Your current account will display as the “from” account. For the “to” account, select the international tab and choose your required Focus Account from the international account list.

4. Confirm your personal details, enter the amount, and confirm the exchange rate quote to complete the transaction.

You can also access a guide on transferring funds to your international Focus account by clicking here.

If you have any questions or need assistance, please contact your private banker or call our client services team on +44 (0)1624 645000.