GlobalWebPay & Bidvest Bank: Seamless ZAR Payments

Our Trusted Partnership

GlobalWebPay is proud to partner with Bidvest Bank, a leading specialist bank in South Africa, to facilitate secure and efficient local payments in South African Rand (ZAR). This collaboration ensures that our customers benefit from:

• Local settlement capabilities for faster and more cost-effective transfers
• Compliance with South African financial regulations
• Trusted infrastructure backed by one of South Africa’s most reputable financial institutions

About Bidvest Bank

Bidvest Bank is a licensed commercial bank regulated by the South African Reserve Bank (SARB). With deep expertise in foreign exchange and cross-border payments, Bidvest Bank provides the local banking infrastructure that enables GlobalWebPay to deliver ZAR payments reliably and securely.

SARB Requirements for ZAR Payments

To process ZAR payments, GlobalWebPay and Bidvest Bank adhere to the following SARB guidelines:

• Exchange Control Compliance: All cross-border transactions must comply with SARB’s Exchange Control Regulations, supported by appropriate documentation.
• Approval for Foreign Payments: Certain payments may require SARB approval, especially those involving large sums or specific financial transfers.
• Anti-Money Laundering (AML) & Know Your Customer (KYC): All parties must undergo KYC verification and comply with AML protocols.
• Reporting & Documentation: Accurate reporting of foreign exchange transactions is required under SARB’s Currency and Exchanges Guidelines for Business Entities.

Why It Matters

By partnering with Bidvest Bank and complying with SARB regulations, GlobalWebPay ensures:

• Fast and reliable ZAR payments
• Full regulatory compliance
• Peace of mind for businesses and individuals

Whether you're paying suppliers, sending money to family, or managing international operations, GlobalWebPay makes ZAR payments simple and secure.

Learn more about sending money to South Africa on our main South Africa payments page.