How do I receive international payments via EFT?

By TymeBank - 24 July, 2020

To receive money into your TymeBank account from overseas (international payment) it is important that TymeBank’s SWIFT code, ‘CBZAZAJJ’ is captured identifying TymeBank as the destination bank for the payment – together with your TymeBank account number.

The payment will be routed through either ABSA, FNB, Nedbank or Standard Bank and land in your TymeBank account. This will take a few days to appear in your TymeBank account.

TymeBank is not authorised to trade in foreign currency and as such may not negotiate any conversion rates. The foreign currency amount will automatically be converted to Rand when routed through ABSA, FNB, Nedbank or Standard Bank.

The foreign bank may also ask for an IBAN number. South Africa does not use IBAN numbers, but if the bank insists on it, you can use your TymeBank account number (as an example: 51000000000) with our branch code (678910) to create a number that can be used as an IBAN number.

For example: the IBAN substitute could be 51000000000678910.