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For South African businesses receiving export payments or paying foreign suppliers. Answer a few commercial questions to get a likely Balance of Payments category, bank-ready wording, and a short document checklist.
For guidance only — not financial advice. Confirm the final BoP category with your bank.
Question 1 of 1
South African banks need a Balance of Payments category when you receive an export payment or pay a foreign supplier. This tool starts from the commercial facts — goods versus services, advance versus after shipment, and whether the parties match the invoice — then suggests a likely category with bank-ready wording. Your authorised dealer still makes the final decision.
A Balance of Payments (BoP) code is the category South African banks use to report the economic purpose of a cross-border payment to the South African Reserve Bank’s financial surveillance systems. It applies to both export receipts (inward) and import payments (outward).
It depends on the service. Management consulting is commonly category 289, legal services 287, accounting 288, and residual outsourced business services may fall under 297 when no more specific category applies. Official labels differ for inward proceeds versus outward payments.
For a clean inward receipt, category 289 is “Proceeds for management consulting services”. For a clean outward payment to a foreign consultant, the same category number is used with the outward label “Payment for management consulting services”.
Software is split by what was sold or bought. Computer-related services often use 231, customised software 232, non-customised software with a periodic electronic licence 235, a single-payment electronic licence 236, and an outright ownership transfer 230.
Ordinary merchandise commonly uses 103/01 after shipment, or 101/01 for an advance payment. Special commodities and postal shipments use other subcategories and need bank review. Imports under a separate undertaking may use 102/104 instead.
Yes. An advance payment before export or import of ordinary goods is typically 101/01, while payment after shipment is typically 103/01.
Treat that as a review case. Third-party payers or beneficiaries often need extra explanation before a bank will finalise the BoP category. This tool returns Needs review instead of guessing.
Typical supporting documents include the commercial invoice or contract, and for goods trade evidence of shipment or customs clearance. The checklist in the result is illustrative only — your bank may ask for more, and it is not an exhaustive SARS or customs list.
Yes. Your authorised dealer decides the BoP category reported for the payment. This free assistant is informational only and is not legal, tax, exchange-control or banking advice.