1 reviews | Active since Mar 2009
Non-resident account conflicting messages from bank
I'm not sure where to direct the following query as no one at Standard Bank seems to be aware of the legislative changes with regard to SARB financial emigration.
My query relates as follows - legislation has changed to make the so-called "blocked" non-resident account meaningless and financial emigration can no longer be done either due to the same legislative changes.
When calling Standard Bank, everyone seems to want to tell me that I'll need to do a financial emigration and get a "blocked" non-resident account - both of which are now meaningless.
The legal opinion that I have received is that there is no longer a legislative difference between a resident citizen and a non-resident citizen from an emigration perspective.
What is the alternative process that Standard Bank is putting (or has put) in place for both bank accounts and share trading accounts to account for this as all responses that I have received have indicated that once I emigrate you can no longer offer me any services... I cannot believe this to be true.
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