Look for a ZAR virtual wallet to deposit funds and make EFT payments.

[Yon]

Not a Crypto question but seems the most appropriate place to ask the question.
I get paid overseas into my Wise account. I'm looking to avoid the formal banking system as much as possible and I'm wondering if there is some sort of reliable virtual wallet service that not an official bank (so Tyme and the like do NOT count) where I could deposit ZAR and make local EFT payments. It needs to have big enough limits that I could pay for rent, medical aid etc.

 

[Scrooloose]

Local crypto exchanges aren't numerous, and withdrawals (sending money to bank accounts) are now reported to SARS. One can also only send money from the crypto exchange to a bank account in one's own name presently.

We're simply not quite there yet I'm afraid. So unless your payment destinations are also crypto accounts, you're doomed to using a normal bank account.

 

[RazrBack]

Don't know if you got sorted, but check an app Remitly. Spoke to a guy who works in the US on farms and they use it to send money tax free to SA as a gift. And it's legal. Depending on your work terms for getting paid overseas, but there is a limit of about R1m you can transfer without paying tax.

 

[Dom]

Not a Crypto question but seems the most appropriate place to ask the question.
I get paid overseas into my Wise account. I'm looking to avoid the formal banking system as much as possible and I'm wondering if there is some sort of reliable virtual wallet service that not an official bank (so Tyme and the like do NOT count) where I could deposit ZAR and make local EFT payments. It needs to have big enough limits that I could pay for rent, medical aid etc.

Why is this - to evade tax?

 

[dom1nator]

Why is this - to evade tax?

You've post this on just about every crypto thread I've seen. 🤣 🤣

EDIT: When I saw this post the first thing I thought was wonder when Dom is gonna post something about evading taxes.

 

[Dom]

You've post this on just about every crypto thread I've seen. 🤣 🤣

Just observed behaviour and why people like crypto/virtual wallets

 

[Juan91]

Who wouldn't want to evade tax if we could to be honest...

Not like we're getting our money's worth.

 

[Valheru]

Who wouldn't want to evade tax if we could to be honest...

Not like we're getting our money's worth.

Because it is against the law?

Zuma does it, y'all have a fucking hernia. You advocate for it on the internet, you are righteous. Why is that?

 

[Juan91]

Just stating the obvious, we had less loadshedding during Zuma's reign, so I'll say bring him back... Just not the Guptas

 

[brandon199107]

Not a Crypto question but seems the most appropriate place to ask the question.
I get paid overseas into my Wise account. I'm looking to avoid the formal banking system as much as possible and I'm wondering if there is some sort of reliable virtual wallet service that not an official bank (so Tyme and the like do NOT count) where I could deposit ZAR and make local EFT payments. It needs to have big enough limits that I could pay for rent, medical aid etc.

you can contact me regarding this!

 

[Adrenalin]

Just stating the obvious, we had less loadshedding during Zuma's reign, so I'll say bring him back... Just not the Guptas

Only because the infrastructure wasnt as bad. Now that it is starting to really rot to the core, and the people have figured out how to break the system to their benefit, we see more load shedding.
Think every single transformer in my neighbourhood has ben vandalised during load shedding for the copper.
Anyway, guess topic and opinion for another day eh.

Also just following this thread because I want to buy dolla cheap, not for what people on P2P markets sell it for. I use crypto for all kinds of stuff.

 

[JollyJamma]

Try Revolut.

I really like it and use the app for all my international trips.

I think it can do regular EFTs and IBAN account payments.