Non-resident and Embassy Banking

This is an account available to international investors with local interests, South Africans living abroad, foreign-owned businesses, embassies and diplomats. This account is designed to support these clients with financial moves they can make across South African borders.

This is the only way an international investor, South African living aboard, foreign business, embassy or diplomat can send money abroad. To transact locally and abroad, clients need a local bank account to deposit the funds.

Clients can hold a transactional bank account in South Africa only if they are considered residents for exchange control purposes.

Clients cease to be a South African once they have financially emigrated and the South African Reserve Bank has changed their exchange control status.

Clients who have emigrated can use their NREB account to access and move any financial assets, like retirement annuities, pension or provident funds. Clients can access and move the proceeds from assets declared in financial emigration. These can be policies or unit trusts or property sold, and they can use the money in this account in South Africa or transfer the money overseas. Income from the rental of fixed property or interest on savings can be amassed and be paid into this account once the client has emigrated financially. Proof of source of funds, such as a lease agreement, will be required.

Clients must be older than 18 and comply with exchange control rules and requirements to open an NREB account. 

To open an NREB account, clients must provide the following documents:

Completed documents emailed by the NREB relationship banker. 

• The minimum opening deposit.
• A certified copy of their passport, stamped by the client's overseas bank.
• Three months' bank statements.
• Proof of income.

All documents must be notarised as required by the South African Reserve Bank (embassy or legal practitioner if abroad and attorney if in South Africa).

Clients must email the documents to the NREB banker and courier the original copies.

Clients can apply for the following accounts based on their needs. The NREB banker will discuss this with the client:

• Non-resident transferable account 
• Non-resident blocked account
• Non-tax resident account

Depending on the nature and purpose of the deposit, clients can make an EFT or overseas transfer.

A South African resident can transfer funds into an NREB account if it is rental income (proof of source of funds is required).

The NREB relationship banker can guide the client.

There are several ways in which clients can get their cards.

• International card.
• Local delivery.
• Collect at their selected branch.
• Once the money is available in the account, clients can start using their account.

Banking should not be limited to a building in South Africa. That’s why we try to give you the most convenient banking methods to suit your needs. The Nedbank Money app and Online Banking are easy-to-use and on-the-go solutions accessible via your smartphone, tablet or computer. You don’t have to worry about data costs when using our digital channels if you are in a secure Wi-Fi zone.

This is a secure username and password combination that allows you to sign in to our digital channels, giving you full access to Nedbank's Online Banking and lifestyle services. You can create and manage your Nedbank ID via Online Banking and the Money app.

Make sure you have registered for your Nedbank ID before you travel. It's quick and easy:

• Go to secured.nedbank.co.za and select Register.
• Enter your South African ID number or foreign passport number.
• Accept the Approve-it message on your cellphone.
• Create your Nedbank ID username and password.
• Link your profile using your profile number, PIN and password (your old internet banking login details).

If you have already left the country, you need to ensure that you have enabled roaming on your phone to receive the Approve-it message on your cellphone. Alternatively, if you create it on the Money app, you will receive an in-app message.

• You need to download the Money app from your app store.
• Once you've logged in, you can use the Money app or Online Banking for all your banking needs.
• You will even have access to your Nedbank Travel Card on the Money app. You can see all your transactions, pending transactions and balance.
• Always ensure that the Wi-Fi is secure; never log in to Online Banking in a public place. Make sure your connection is secure and choose complicated passwords that are hard to guess.
• You can block or unblock your card using the Money app.

• It’s always best to inform us of your travel plans. This way, when you arrive at your destination, your credit and debit cards are working properly.
• You can inform us by using the Money app or calling our call centre.
• Informing us also ensures we can better monitor fraud activity.