For someone bringing R100,000 into South Africa each month, for example, a 2–3% difference in the exchange rate could amount to roughly R2,000-R3,000 per month. Over a year, that could mean between R24,000 and R36,000 in additional costs – without appearing as a separate fee on the transaction.
“Clients should know what they’re being charged for and why, and that’s non-negotiable for us,” says Scherzer. “We are fully transparent and consistent in our pricing, so clients know exactly what they’ll pay before making a payment.”
And alongside its focus on pricing transparency, Future Forex uses proprietary technology to secure far more competitive exchange rates, delivering an all-in-one solution at up to a fifth of the cost typically charged by the banks.
More than a currency conversion
Beyond the cost of the transfer, there are also exchange control rules, inward payment reporting and SARS obligations around foreign earnings. Getting these details wrong can be costly, and the regulations themselves aren’t always straightforward to navigate.
“A payment provider isn’t enough on its own,” says Scherzer. “What clients actually need is a specialist who understands the regulatory landscape, spots problems before they happen, and takes ownership of the process.”
That’s why every Future Forex client is assigned a dedicated Account Manager as their single point-of-contact from the moment they register. From ensuring inward payments are processed correctly to handling South African Reserve Bank exchange control requirements and assisting with SARS obligations, they manage all the details at no extra cost.
“Our account managers bring deep industry expertise and understand each clients’ specific circumstances, and that’s what makes all the difference,” adds Scherzer.
Technology that removes the admin
Another problem with traditional international payments is that they tend to rely on outdated systems, manual processes and multiple departments. From onboarding and submitting documents to booking, tracking and tracing a transaction, clients can end up repeating information and being pushed from pillar to post.
