Cash Management

PCH Corporate Cash Management Service

Private Client Holdings has partnered with Investec Private Bank and is now able to offer our clients the benefits of a competitive and efficient money management system. Corporate Cash Manager (CCM) is an internet-based system that uses Investec’s innovative online facility to provide a secure environment in which to invest and transact on behalf of our clients.The corporate cash account is more than just an investment account – it facilitates foreign exchange transactions and bill paying services for both individuals and businesses alike.

 

With Corporate Cash Manager, PCH can:
• Open an account for you
• Process transactions and pay bills on your behalf
• Provide you with regular bank statements
• Offer you highly competitive interest rates
• Offer you highly competitive Forex rates.
All with no charges levied by the bank (other than on cash deposits) and with the highest standard of personalised service

 

PCH FOREX Service

Private Client Holdings provides a compelling FOREX service that assists businesses and individuals in concluding foreign exchange transactions easily, speedily and at a preferential, highly competitive rate.

 

Features

As PCH is able to negotiate and facilitate the purchase or sale of foreign currency at preferential (institutional) rates, the Foreign Exchange Service is effective for individuals and for small to medium sized businesses that import and export a substantial volume of goods or services every year.

 

Our PCH FOREX department has direct access to a number of corporate banking FOREX desks – ensuring the best rates – and seamlessly handles the entire administration process electronically, including the obtaining of tax clearance certificates for individuals and payment requirements for the South African Reserve Bank Exchange Control Department. Payments and receipts can be made directly from and to your Investec CCM account.

 

Benefits

This means that you have access to highly competitive institutional rates without having to set foot in your local bank.

 

Private Individuals

PCH Foreign Exchange Service assists individuals with the requirements, documentation and processes to successfully conclude FOREX transactions at a competitive rate.

PCH will facilitate, where required, the necessary tax clearance and reserve bank exchange control department submissions. Example of PCH’s superior FOREX offerings for Private Individuals when investing R1 million Rand offshore in dollars below.

 

Example of an individual converting R1 million into US Dollars

 

cash-exchange-rates-ZAR-USD

 

An individual converting R1 million into US dollars would receive $818.21 more via the PCH FOREX offering than via a regular commercial or retail bank.

 

Services

Foreign Investment Allowance (You are investing in an offshore fund or opening a foreign currency account – current limit R10 million) PCH can assist SA resident taxpayers in good standing to effectively invest up to R10 million abroad. To enable such a transaction the person must have a green bar coded identity document and original tax clearance certificate for foreign investment purposes.

Single Discretionary Allowance PCH can assist SA residents to take advantage of their single discretionary allowance each year of up to R1 million. (Transactions under R1 million do not currently require tax clearance.) The allowance may comprise of a combination of transactions; including donations to missionaries, maintenance ransfers, monetary gifts and loans, travel allowance, study allowance, alimony and child support, wedding expenses and other special occasions.

Emigration (You are emigrating – current limit R20 million / family and / or R10 million / individual) PCH can assist individuals who have decided to emigrate and wish to take funds offshore. A number of requirements need to be satisfied. Although there are set levels for a family unit or individual, you could apply to the South African Reserve Bank for an over the limit approval, a process that PCH will facilitate for you. PCH can also advise you on using your annual travel allowance.

Other transactions (You are buying a property abroad or setting up an offshore trust) PCH can also assist you with other FOREX transactions such as fixed property, offshore inheritance and estate administration transactions.

 

Businesses

PCH Foreign Exchange Service assists businesses with the requirements, documentation and processes to successfully conclude FOREX transactions such as foreign direct investments, at a competitive rate.

 

Example of PCH superior FOREX offering for a business paying an invoice of

$100 000

cash-exchange-rates-USD-ZAR

A business paying an invoice of $100 000 would pay R8 440 less when transacting through the PCH FOREX offering than through its commercial bank.

 

Services

Import and Export of goods and services
• Whether you need to pay for imports or require payment for goods being exported, PCH’s FOREX administration services will assist you in terms of the requirements and documentation and guide you through the process. PCH does not expose your funds to any currency risk as PCH only uses the spot rate* to conclude such transactions.

Foreign Direct Investments
• PCH will facilitate applications to Investec from South African companies wishing to make new outward foreign direct investments into companies, branches and offices outside of the common monetary area (CMA includes Lesotho, Namibia, RSA & Swaziland), including those that fall outside of their current line of business. Such applications must be fully motivated and should include information such as audited financial statements, equity interest, voting rights, and share capital together with any other information that may be required by the Financial Surveillance team.