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GBP/ZAR - Convert Compare Save

British Pound Sterling to South African Rand exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

This resource page for the British Pound Sterling to South African Rand exchange rate, has news, forecasts and GBP to ZAR comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

GBP/ZAR Exchange Rates - How to Compare & Save

Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for GBP/ZAR International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
Foreign Transfer ProvidersReceive ZAR(R)Exchange RateFee GBPTotal CostDeal Links
OFX logo
85,500 ZAR
Best Overall
17.1£0^1.86%
HSBC logo
83,674 ZAR
1,826 ZAR
16.76£7.53.96%
Natwest Bank logo
83,200 ZAR
2,300 ZAR
16.69154.5%
Citibank International Money Transfers
Citibank logo
82,851 ZAR
2,649 ZAR
16.61124.9%
Banks - Average Rate
Lloyds TSB logo Santander logo Citibank logo Natwest Bank logo HSBC logo
82,823 ZAR
2,677 ZAR
16.61154.93%
Santander International Money Transfers
Santander logo
82,369 ZAR
3,131 ZAR
16.54205.45%
Lloyds TSB logo
82,021 ZAR
3,479 ZAR
16.47205.85%
 
OFX: Foreign Transfer GBP→ZAR
GBP amount:£5,000 GBP
Fee:£0^ - No fees for BestExchangeRates users (normally 7GBP for smaller transfers)
Exchange Rate:17.1 (1.86% from mid-rate)
ZAR amount:85,500 ZAR
Total Cost:1.86%
Time:
Rate Fetched: Fri Jul 19 2019 22:09:53 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer GBP→ZAR
GBP amount:£5,000 GBP
Fee:£7.5 GBP (.15%)
Exchange Rate:16.76 (3.81% from mid-rate)
ZAR amount:83,674 ZAR
Total Cost:3.96%
Difference:
1,826 ZAR less than using OFX
Time:0:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Natwest Bank logoNatwest Bank

Natwest Bank: Foreign Transfer GBP→ZAR
GBP amount:£5,000 GBP
Fee:15
Exchange Rate:16.69 (4.21% from mid-rate)
ZAR amount:83,200 ZAR
Total Cost:4.5%
Difference:
2,300 ZAR less than using OFX
Time:0:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 

Citibank logoCitibank

Citibank: Foreign Transfer GBP→ZAR
GBP amount:£5,000 GBP
Fee:12
Exchange Rate:16.61 (4.67% from mid-rate)
ZAR amount:82,851 ZAR
Total Cost:4.9%
Difference:
2,649 ZAR less than using OFX
Time:0:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer GBP→ZAR
GBP amount:£5,000 GBP
Fee:15
Exchange Rate:16.49 (5.36% from mid-rate)
ZAR amount:82,823 ZAR
Total Cost:4.93%
Difference:
2,677 ZAR less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Santander logoSantander

Santander: Foreign Transfer GBP→ZAR
GBP amount:£5,000 GBP
Fee:20
Exchange Rate:16.54 (5.07% from mid-rate)
ZAR amount:82,369 ZAR
Total Cost:5.45%
Difference:
3,131 ZAR less than using OFX
Time:0:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2/5.0
Reviews:
 

Lloyds TSB logoLloyds TSB

Lloyds TSB: Foreign Transfer GBP→ZAR
GBP amount:£5,000 GBP
Fee:20
Exchange Rate:16.47 (5.48% from mid-rate)
ZAR amount:82,021 ZAR
Total Cost:5.85%
Difference:
3,479 ZAR less than using OFX
Time:0:20 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 07/20/2019 - See full table

Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.

Travel Money ProvidersAmount ZAR(R)Exchange RateFee GBPTotal CostDeal Links
Travelex Online UK logo
16,719 ZAR
Best Overall
16.7186£0^4.05%
Citibank Foreign Currency
Citibank logo
16,394 ZAR
325 ZAR
16.56£105.91%
Banks - Average Rate
Lloyds TSB logo Santander logo Citibank logo Natwest Bank logo
16,248 ZAR
471 ZAR
16.43£106.75%
Lloyds TSB logo
16,226 ZAR
493 ZAR
16.39£106.88%
Santander Foreign Currency
Santander logo
16,226 ZAR
493 ZAR
16.39£106.88%
Natwest Bank logo
16,144 ZAR
575 ZAR
16.39£157.35%
Travelex Online UK: Travel Money GBP→ZAR
GBP amount:£1,000 GBP
Fee:£0 - No fees for Debit & Credit Cards
Exchange Rate:16.7186 (4.05% from mid-rate)
ZAR amount:16,719 ZAR
Total Cost:4.05%
Time:
Rate Fetched: Fri Jul 19 2019 22:30:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 

Citibank logoCitibank

Citibank: Travel Money GBP→ZAR
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:16.56 (4.96% from mid-rate)
ZAR amount:16,394 ZAR
Total Cost:5.91%
Time:0:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money GBP→ZAR
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:16.39 (5.93% from mid-rate)
ZAR amount:16,248 ZAR
Total Cost:6.75%
Currency Services:Branch
Delivery/Collect:-
 

Lloyds TSB logoLloyds TSB

Lloyds TSB: Travel Money GBP→ZAR
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:16.39 (5.93% from mid-rate)
ZAR amount:16,226 ZAR
Total Cost:6.88%
Time:0:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 

Santander logoSantander

Santander: Travel Money GBP→ZAR
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:16.39 (5.93% from mid-rate)
ZAR amount:16,226 ZAR
Total Cost:6.88%
Time:0:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
 

Natwest Bank logoNatwest Bank

Natwest Bank: Travel Money GBP→ZAR
GBP amount:£1,000 GBP
Fee:£15 GBP (Minimum fee)
Exchange Rate:16.39 (5.93% from mid-rate)
ZAR amount:16,144 ZAR
Total Cost:7.35%
Time:0:20 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 07/20/2019 - See full table

GBP to ZAR interbank exchange rate = 17.424

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on GBP/ZAR exchange rates

Foreign Transfers Travel Money

Foreign Transfers Travel Money

   

GBP and ZAR in the Markets

When determining the best time to make a foreign exchange transaction, in this case the GBP vs ZAR, you should pay attention to the recent market trends for both currencies.

 

British Pound Sterling (GBP)

By some margin, the pound was the worst-performing major currency in the second quarter. It slipped in late June to multi-month lows against a number of important currencies, including the Australian dollar, New Zealand dollar, euro, Canadian dollar and Swiss franc.

Pound valuations will continue to fluctuate based on No-deal, Deal and Remain probabilities. No-deal prospects may increase if, as is widely expected, ardent Brexiteer Boris Johnson becomes the UK’s next prime minister. However, some banks argue that Johnson’s appointment would make little difference to no-deal or remain probabilities.

The pound is unlikely to receive much in the way of meaningful respite until November, analysts say, when hopefully the UK-EU Brexit arrangement, or lack thereof, is known (Boris Johnson insists that the UK will not seek any further Article 50 extensions beyond the October-31 deadline).

The pound would be doing far worse if it weren't receiving some support from the Bank of England which, surprisingly, is the only major central bank still considering higher interest rates in 2019.

Read more in the article GBP Forecasts.

 

South African Rand (ZAR)

2018 was a grim year for the rand: it lost 14 percent of its value against the US dollar and lost 10 percent against the euro.

Stability returned in the first 5 months of 2019, with no change against the dollar and a 2 percent gain versus the euro.

Talk in May was all about the election, which was again won by the ANC party, led by Cyril Ramaphosa. This spurred a relief rally in the rand, but a serious fall in support for the ANC since 2014 suggests Ramaphosa will struggle implementing much-needed economic reforms.

With the election out of the way, analysts at Deutsche Bank are expecting the rand to weaken throughout the rest of the year.

"We think [rand] optimism will prove short-lived as the market quickly refocuses on deteriorating fundamentals," Deutsche said.

Why can't I just get the GBP/ZAR market rate I see online or in the media?

The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the GBP / ZAR was traded (bought or sold) in the international markets.

All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

We help you Compare & Save Money on Exchange Rates.

 

View all GBP Exchange Rates