Future Forex says it can cut the cost of an international payment by up to 50% for individuals and 30% for businesses, according to a Moneyweb in-depth feature sponsored by the company. Moneyweb notes that it does not endorse any product or service advertised in sponsored articles. The savings figures are the company’s own and were not independently verified. The feature quotes the firm’s chief executive, Harry Scherzer, a qualified actuary.
The price difference matters because South Africa’s major banks are estimated to earn more than R20 billion a year from the foreign-exchange market, according to the feature. Those earnings come from a combination of visible fees, such as the R500-R1 000 SWIFT charge per transaction, and less obvious spreads embedded in the exchange rate. The feature gives an example: with the going rate at R16.20 to the dollar, a bank might quote R16.53. That 33c gap is a hidden spread of roughly 2%, or about R20 000 on a R1 million transfer, without the client seeing a separate line-item.
Future Forex says each client gets a dedicated forex specialist, reachable by phone, email or WhatsApp. For individuals, the company says it helps with paperwork, tax and the Approval of International Transfer (AIT) application required by the South African Reserve Bank. For businesses, it describes an outsourced forex department covering Reserve Bank approvals, Balance of Payments (BoP) reporting and Advance Payment Notifications (APNs), at no extra cost.
For a small business that imports raw material or a family sending money abroad, the advertised savings could be significant. As an illustration only: if a business faced a R10 000 hidden cost on a transfer, the 30% business saving the company claims would reduce it by R3 000. Actual savings depend on the transaction, the currency pair and the bank’s quote.
Clients use a web platform and mobile app offering live exchange rates, real-time payment tracking and document uploads, which the company says streamlines the regulatory paperwork that can delay cross-border transfers.
Future Forex lists several recognitions in the feature: Company of the Year at the 2025 Africa Career Summit, Outstanding Customer Service in Forex and Payments, South Africa at the World Business Outlook Awards, and second place in News24’s list of fastest-growing South African companies for 2026. These are part of the company’s promotional narrative and have not been independently verified here.
What remains unclear is how the cost savings compare across the full range of bank offers, especially as banks occasionally adjust pricing in response to competition. The firm’s claim of “up to 50% less” is based on its own pricing and may not apply to every transaction size or currency pair. Potential users should therefore request a quote for their specific needs before assuming a particular percentage of savings.
For business owners who feel the traditional banking route is opaque and costly, Future Forex presents an alternative that promises transparency, lower fees and a single point of contact. Whether the promised savings materialise in practice will depend on the details of each transaction.
