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What does it mean to convert to USD on Clarity?

When you convert to USD on Clarity, you are simply exchanging your South Africann Rands (ZAR) into United States Dollars (USD) directly within your Clarity account. This allows you to fund your USD wallet and invest in global markets including US stocks and ETFs without needing any external forex process, paperwork, or bank transfers.

How does it work?

The conversion process is fully integrated into the Clarity platform.

Step 1

You select the amount you wish to convert.

Step 2

You confirm the conversion.

Step 3

Your USD reflects almost instantly in your Clarity account.

There is no manual intervention, and no waiting for traditional forex processing times.
Your USD balance updates in real time, allowing you to start saving, investing or trading immediately.

Understanding offshore allowances

South Africann residents can transfer funds offshore within their annual Single Discretionary Allowance (SDA), subject to the relevant regulatory requirements.

As part of the process, Clarity by Investec may perform verification checks before funds are converted and transferred offshore.

This helps ensure transfers are secure, compliant and processed correctly.

What does it cost?

Clarity charges a single, simple fee for USD conversion. Up to 50 basis points (0.50%) on the prevailing USD/ZAR spot rate.

There are:

  • No hidden charges
  • No additional spreads
  • No transaction fees
  • No banking or settlement charges

Explore the new Clarity experience

Clarity currently has two different apps in market for trading and saving. We’re building a simpler, more intuitive investing experience. While both platforms remain available together for a short period of time, they offer different features and experiences. Learn what’s changing and what it means for you.
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