Corporate Foreign Currency (CFC) Accounts South Africa - Merchant West
Simplify International Trade with CFC Accounts
Managing multiple cross-border transactions in Rand alone can be costly and inefficient. Customer Foreign Currency (CFC) Accounts allow South African businesses to hold and transact directly in foreign currencies such as USD, EUR, and GBP.
At Merchant West Treasury Solutions, we help corporates and SMEs open and manage CFC accounts that reduce conversion costs, simplify payments, and streamline international trade.
Simplify International Trade with CFC Accounts
Managing multiple cross-border transactions in Rand alone can be costly and inefficient. Customer Foreign Currency (CFC) Accounts allow South African businesses to hold and transact directly in foreign currencies such as USD, EUR, and GBP.
At Merchant West Treasury Solutions, we help corporates and SMEs open and manage CFC accounts that reduce conversion costs, simplify payments, and streamline international trade.
Why Businesses Use CFC Account
Hold Balances in Major Currencies
Keep USD, EUR, GBP, and other major currencies in local South African accounts.
Reduce Conversion Costs
Avoid repeated Rand conversions when paying or receiving international counterparties.
Faster Trade Settlement
Make inward and outward payments more efficient.
Compliant & Secure
All accounts are administered within South African Reserve Bank (SARB) guidelines.
Why Businesses Use CFC Account
1.
Open a CFC account with our support, tailored to your business needs.
2.
Fund the account in your chosen foreign currency (e.g., USD, EUR, GBP).
3.
Transact directly with international suppliers or customers in their currency.
4.
Convert to Rand only when required, reducing unnecessary FX costs.
Who Benefits from CFC Accounts?
- Importers → Pay suppliers abroad directly in foreign currency.
- Exporters → Receive overseas revenues without immediate conversion into Rand.
- Service Providers → Settle or receive international contracts smoothly.
- SMEs → Access the same treasury tools as corporates for global trade.
Practical Applications of CFC Account
- Pay foreign suppliers directly from your CFC balance.
- Receive revenues from exports in foreign currency.
- Avoid unnecessary currency conversion when managing recurring FX flows.
- Simplify international trade settlements for smoother cash flow
Frequently Asked Questions - CFC Accounts
A Customer Foreign Currency (CFC) account is a South African-based bank account that lets businesses hold and transact in foreign currencies.
Importers, exporters, service providers, and SMEs trading internationally all benefit from reduced costs and simpler transactions.
USD, EUR, GBP, and most other major international currencies.
Transactions must comply with SARB exchange control regulations, but balances are generally flexible.
By avoiding repeated Rand conversions, businesses save on spreads and fees when transacting frequently in foreign currencies.
Yes. CFC accounts work seamlessly with Merchant West’s international payments solutions, making trade more efficient.
Why Choose Merchant West for CFC Accounts?
Corporate and SME expertise
We help businesses of all sizes structure their foreign currency accounts efficiently and in line with SARB requirements.
SARB-approved intermediary
Operate with confidence knowing your transfers and accounts are managed through a fully approved financial intermediary.
Integrated treasury solutions
Access seamless support for international payments, FX risk management, and cash flow planning—all under one roof.
Personalised support
Enjoy tailored service from a dedicated team, not a one-size-fits-all banking process.
Secure, Compliant & Competitive Treasury Solutions
Simplify Your International Trade
CFC accounts give your business the tools to trade globally with less cost, less complexity, and full regulatory peace of mind.
Merchant West Treasury Solutions ensures your account is set up correctly and managed with ongoing expert support.