Post on 10-Feb-2018
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Content 1. Background 5
2. Key changes of BOPCUS v3 6
3. BOP category changes 7
4. Schema changes: additional requirements 9
5. Reporting of non-reportable transactions 11
6. Introduction of new BOP forms 11
7. Letters of undertaking 13
8. Contact details 13
9. BOPCUS v3 categories 14
Customer transaction reporting
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Customer transaction reporting
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1. Background As an authorised dealer in foreign exchange, Standard Bank
is required to report all cross-border customer transactions to
the South African Reserve Bank (SARB). This is a regulatory
requirement that underpins licences for all South African
authorised dealers. As a result, we are required to comply
with BOPCUS (balance of payments reporting requirements).
The SARB recently published a new version (BOPCUS v3) of the
balance of payments (BOP) reporting requirements for customer
transactions. The changes are aimed at aligning the reporting of
cross-border transactions in South Africa with the International
Monetary Fund (IMF) standards.
BOPCUS v3 replaces the BOPCUS v2 reporting framework
with effect from 19 August 2013. After this date, transactions
referenced according to the BOPCUS v2 framework, will not
be accepted.
2. Key changes of BOPCUS v3
ü New BOP category and subcategory codes (alignment to
the IMF standards)
ü Schema changes: additional requirements
•Reportingonbeneficiariesandremitters
•Reportingofthirdpartydetails
•Reportingoncross-borderloans
•Exchangecontrolapprovaldetails
ü Reporting of non-reportable transactions
ü New forms and updated declaration
ü Letters of undertaking
ü Contact details
Customer transaction reporting
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3. BOP category changes
3.1 New categories
The new BOP categories do not always align with BOPCUS v2 codes. Some BOPCUS v2 codes previously used for certain categories are
now invalid and might apply to other BOPCUS v3 categories instead. For example, BOPCUS v2 BOP category 401 refers to Dividends,
yet BOPCUS v3 BOP category 401 refers to Gifts.
The previous 901 reportable field was replaced with BOP category 830. Do not misuse this category. SARB will conduct
frequent checks.
3.2 New subcategories
Certain categories now have subcategories. For example, reporting on fees for processing done on materials will have the following
subcategory codes:
Transaction description BOP category BOP sub-category
Fees for processing – processing done on gold 240 02
Fees for processing – processing done on platinum 240 03
Fees for processing – processing done on crude oil 240 04
Refer to section 9 of this guide for the new BOPCUS v3 categories. The new BOP categories are also available on the Standard Bank
BizConnect webpage, http://bizconnect.standardbank.co.za/2563.aspx
4. Schema changes: additional requirements4.1. Beneficiary and remitter details
New information is required for individual and entity non-residents.
For reporting purposes, a non-resident is a natural or legal person who’s residential or registration address is outside the Republic of South Africa.
The following non-resident information may be required for completion:
Non-resident individuals Non-resident entities For some categories, the below information may also be required for both individual and entity non-residents:
• Non-residentindividualname
• Non-residentindividualsurname
• Non-residentindividualgender
• Non-residentindividualpassportnumber
• Non-residentindividualpassportcountry
• Legalentityname • Non-residentaccountnumber
• Non-residentaddress
• Non-residentcity
• Non-residentstate
• Non-residentzipcode
• Non-residentcountry
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4.2. Third party details
BOPCUS v3 requires clients to report on third party payments.
Third party payments are payments done on behalf of another individual
or entity. A third party is a party indirectly involved in a transaction.
Transactions that require third party details include:
• Travelrelatedtransactionswhereatravelagentpaysfortravelonbehalfofthetraveller.
• ForeigninvestmentbySouthAfricanresidents(MP1423)transactionswhereanentitydoestheinvestmentonbehalf
of multiple individuals.
The following third party information may be required for completion:
Third party individual Third party entity Third party individuals and entities, depending on the SARB regulation
• Individualthirdpartyname
• Individualthirdpartysurname
• Individualthirdpartygender
• Individualthirdpartydateofbirth
• Individualthirdpartyidentitynumber
• Individualthirdpartytemporaryresidentpermit number
• Individualthirdpartypassportcountry
• Individualthirdpartypassportnumber
• Legalentitythirdpartyname
• Legalentitythirdpartyregistration number
• Legalentitythirdpartycustomsclient number
• Legalentitythirdparty tax number
• Legalentitythirdparty VAT number
• Thirdpartystreetaddress
• Thirdpartystreetsuburb
• Thirdpartystreetcity
• Thirdpartystreetprovince
• Thirdpartystreetpostalcode
• Thirdpartypostaladdress
• Thirdpartypostalsuburb
• Thirdpartypostalcity
• Thirdpartypostalprovince
• Thirdpartypostalcode
• Thirdpartycontactname
• ThirdpartycontactSurname
• Thirdpartyemail
• Thirdpartyfax
• Thirdpartytelephonenumber
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4.3. Reporting on loan payments
BOPCUS v3 requires the following loan details:
• LoanreferencenumberissuedbytheSARBinaspecific
format, either via an application or the electronic loan
reporting system.
• Loantenorapplicabletoloansgrantedbyresidentstonon-
residents. The tenor refers to the period of the loan and the
date when the loan must be repaid.
• Loaninterestrate
– For loans granted to non-residents.
– For loan repayments by residents to non-residents. This
interest rate will be compared to the original authority
granted to accept a foreign loan. Use the format available
on the online channels or application document.
4.4. Exchange control approval details
InrespectofalloutwardpaymentsintermsoftheExchange
Control Rulings, the applicable approval must be annotated as
listed below:
• Authoriseddealerinternalauthoritynumber
The internal authority number issued by a reporting entity
or any other authority granted by an independent
regulatory body.
• Authoriseddealerinternalauthoritydate
The date of the internal authority granted by a reporting
entity or any other authority granted by an independent
regulatory body.
• SARBauthorityapplicationnumber
The authority application number issued by the SARB in
respect of an application received.
• SARBauthorityreferencenumber
The authority reference number issued by the SARB in
respect of an application received.
5. Reporting of non-reportable transactions
You must now also report transactions which are regarded as
non-reportable transactions for statistical purposes. Domestic
transfers are excluded from the non-reportable transactions.
Examplesofthenon-reportabletransactions:
• TransferfromaresidentrandaccounttoaresidentCustomer
Foreign Currency (CFC) account or Foreign Currency Account
(FCA) and vice versa
• TransferfromaCFCaccounttoanotherCFCaccount
• TransferfromaFCAtoanotherFCA
• Transferfromanon-residentFCAinthebooksofan
authorised dealer to another non-resident FCA in the books
of an authorised dealer.
6. Introduction of new BOP forms
All current BOP forms have been aligned to BOPCUS v3
reporting requirements. From 19 August 2013 the updated
forms are mandatory to process transactions.
The new forms are available on Standard Bank’s BizConnect
webpage http://bizconnect.standardbank.co.za/2563.aspx.
Note that from 19 August 2013, old forms will no longer
be accepted.
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6.1. Summary of changes
Form name Changes
CIB SSI form Updated category, subcategory code and updated
SARB declaration
CIB form Payment and Acceptance request Import Control Number (ICN) changed to Movement
Reference Number (MRN), detailed address fields and postal
address requirements
CIB Foreign cheque deposit form Detailed address, postal address and updated SARB declaration
CIBFax–PaymentAdvice–EXPORTform Updated with subcategory codes and updated
SARB declaration
CIB Documentary Credit (Irrevocable) Application form Detailed address fields and postal address
RequestforexchangecontrolEXCONandSARBreference
number added with the updated SARB declaration
CIB BOP Sale form Detailed address fields, postal address and third party details
Added request for gender, fields for Industrial Sector and
Industrial Classification
RequestforEXCONandtheSARBreferencenumberadded
with the updated SARB declaration
CIB BOP Purchase form Detailed address fields, postal address and third party details
Added request for gender, subcategory code, as well as fields
for Industrial Sector and Industrial Classification
RequestforEXCONandtheSARBreferencenumberadded
with the updated SARB declaration
6.2. Updated declaration
With the introduction of the Protection of Personal Information (PoPI) Bill, a declaration will be added to all terms and conditions, which
has to be signed.
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6.3. Standing settlement instruction
Standing Settlement Instruction (SSI) application forms have been updated to include the new BOP categories,
subcategories and declaration. The new SSI forms replace the old SSI forms and are available on Standard Bank’s
BizConnect webpage http://bizconnect.standardbank.co.za/2563.aspx
From 19 August 2013, existing SSIs for Inward Telegraphic Transfers (ITTs) referring to BOPCUS v2 categories will
no longer be accepted. You must complete and sign a revised SSI form. The revised SSI must refer to the new BOP
categories and subcategories.
Signed SSIs must be scanned and send to:
Email:TPSStandingSettlementInstructions@standardbank.co.za;or
Fax: 011 631 4631
7. Letters of undertaking Letters of undertaking will remain unchanged.
8. Contact detailsIf you have any questions about these changes or would like more information, please contact the dedicated BOPCUS
Helpdesk or your Standard Bank representative.
Telephone: 0860 333 889
Email:BOPCUS3Enquiries@standardbank.co.za
BizConnect webpage: http://bizconnect.standardbank.co.za/2563.aspx
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9. BOPCUS v3 categories(a) Balance of payments categories applicable to BOPCUS, non resident rand and BOPDIR – inward payments The Balance of Payment categories consists of a category and in some cases a sub-category is also applicable.
(i) Merchandise
Transaction adjustments100 Adjustments / Reversals / Refunds applicable to merchandise
Exports:Advancepayments101 01 Exportadvancepayment(excludingcapitalgoods,gold,platinum,crudeoil,refinedpetroleumproducts,diamonds,steel,coal,ironore
and goods exported via the South African Post Office)101 02 Exportadvancepayment-capitalgoods101 03 Exportadvancepayment–gold101 04 Exportadvancepayment–platinum101 05 Exportadvancepayment–crudeoil101 06 Exportadvancepayment–refinedpetroleumproducts101 07 Exportadvancepayment–diamonds101 08 Exportadvancepayment–steel101 09 Exportadvancepayment–coal101 10 Exportadvancepayment–ironore101 11 Exportadvancepayment-goodsexportedviatheSouthAfricanPostOffice102 01 Not allocated102 02 Not allocated102 03 Not allocated102 04 Not allocated102 05 Not allocated102 06 Not allocated102 07 Not allocated102 08 Not allocated102 09 Not allocated102 10 Not allocated102 11 Not allocated
Exports:103 01 Exportpayments(excludingcapitalgoods,gold,platinum,crudeoil,refinedpetroleumproducts,diamonds,steel,coal,ironoreandgoods
exported via the South African Post Office)103 02 Exportpayment-capitalgoods103 03 Exportpayment–gold103 04 Exportpayment–platinum103 05 Exportpayment–crudeoil103 06 Exportpayment–refinedpetroleumproducts103 07 Exportpayment–diamonds103 08 Exportpayment–steel103 09 Exportpayment–coal103 10 Exportpayment–ironore103 11 Exportpayment–goodsexportedviatheSouthAfricanPostOffice104 01 Not allocated104 02 Not allocated104 03 Not allocated104 04 Not allocated104 05 Not allocated104 06 Not allocated104 07 Not allocated104 08 Not allocated104 09 Not allocated104 10 Not allocated104 11 Not allocated
Exports: Other105 Consumables acquired in port106 Trade finance repayments in respect of exports107 ExportproceedswheretheCustomsvalueoftheshipmentislessthanR500108 ExportpaymentswheregoodsweredeclaredaspartofpassengerbaggageandnoUCRisavailable
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109 01 Proceeds for goods purchased by non residents where no physical export will take place, excluding gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal and iron ore as well as merchanting transactions
109 02 Proceeds for gold purchased by non residents where no physical export will take place, excluding merchanting transactions109 03 Proceeds for platinum purchased by non residents where no physical export will take place, excluding merchanting transactions109 04 Proceeds for crude oil purchased by non residents where no physical export will take place, excluding merchanting transactions109 05 Proceeds for refined petroleum products purchased by non residents where no physical export will take place, excluding
merchanting transactions109 06 Proceeds for diamonds purchased by non residents where no physical export will take place, excluding merchanting transactions109 07 Proceeds for steel purchased by non residents where no physical export will take place, excluding merchanting transactions109 08 Proceeds for coal purchased by non residents where no physical export will take place, excluding merchanting transactions109 09 Proceeds for iron ore purchased by non residents where no physical export will take place, excluding merchanting transactions109 10 Not allocated110 Merchanting transaction111 Not allocated112 Not allocated
(ii) Intellectual property and other services
Transaction adjustments200 Adjustments / Reversals / Refunds applicable to intellectual property and service related items
Charges for the use of intellectual property201 Rights assigned for licences to reproduce and/or distribute202 Rights assigned for using patents and inventions (licensing)203 Rights assigned for using patterns and designs (including industrial processes)204 Rights assigned for using copyrights205 Rights assigned for using franchises and trademarks
Disposal of Intellectual Property (Excluding Computer related and Audiovisual)210 Disposal of patents and inventions211 Disposal of patterns and designs (including industrial processes)212 Disposal of copyrights213 Disposal of franchises and trademarks
Research and Development220 Proceeds received for research and development services221 Funding received for research and development
Audiovisual and related items225 Sales of original manuscripts, sound recordings and films226 Receipt of funds relating to the production of motion pictures, radio and television programs and musical recordings
Computer software and related items 230 The outright selling of ownership rights of software231 Computer-related services including maintenance, repair and consultancy232 Commercial sales of customised software and related licenses for use by customers233 Commercial sales of non-customised software on physical media with periodic licence to use234 Commercial sales of non-customised software provided on physical media with right to perpetual (ongoing) use235 Commercial sales of non-customised software provided for downloading or electronically made available with periodic license236 Commercial sales of non-customised software provided for downloading or electronically made available with single payment
Technical related services 240 01 Fees for processing - processing done on materials (excluding gold, platinum, crude oil, refined petroleum products, diamonds,
steel, coal and iron ore)240 02 Fees for processing - processing done on gold240 03 Fees for processing - processing done on platinum240 04 Fees for processing - processing done on crude oil240 05 Fees for processing - processing done on refined petroleum products240 06 Fees for processing - processing done on diamonds240 07 Fees for processing - processing done on steel240 08 Fees for processing - processing done on coal240 09 Fees for processing - processing done on iron ore241 Repairs and maintenance on machinery and equipment242 Architectural, engineering and other technical services243 Agricultural, mining, waste treatment and depollution services
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Travel services for non-residents250 Travel services for non-residents - business travel251 Travel services for non-residents - holiday travel252 Foreign exchange accepted by residents from non-residents
Travel services for residents255 Travel services for residents - business travel256 Travel services for residents - holiday travel
Travel services in respect of third parties260 Proceeds for travel services in respect of third parties - business travel261 Proceeds for travel services in respect of third parties - holiday travel
Telecommunication and information services 265 Proceeds for telecommunication services266 Proceeds for information services including data, news related and news agency fees
Transportation services270 01 Proceeds for passenger services - road270 02 Proceeds for passenger services - rail270 03 Proceeds for passenger services - sea270 04 Proceeds for passenger services – air271 01 Proceeds for freight services - road271 02 Proceeds for freight services - rail271 03 Proceeds for freight services - sea271 04 Proceeds for freight services – air272 01 Proceeds for other transport services – road272 02 Proceeds for other transport services – rail272 03 Proceeds for other transport services – sea272 04 Proceeds for other transport services – air273 01 Proceeds for postal and courier services – road273 02 Proceeds for postal and courier services – rail273 03 Proceeds for postal and courier services – sea273 04 Proceeds for postal and courier services – air
Financial services provided275 Commission and fees276 Proceeds for financial services charged for advice provided
Construction services 280 Proceeds for construction services
Government services 281 Proceeds for government services 282 Diplomatic transfers
Study related services 285 Tuition fees
Other business services rendered287 Proceeds for legal services 288 Proceeds for accounting services 289 Proceeds for management consulting services 290 Proceeds for public relation services 291 Proceeds for advertising & market research services 292 Proceeds for managerial services 293 Proceeds for medical and dental services294 Proceeds for educational services295 Operational leasing296 Proceeds for cultural and recreational services297 Proceeds for other business services not included elsewhere298 Not allocated299 Not allocated
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(iii) Transactions relating to income and yields on financial assets
Transaction adjustments300 Adjustments / Reversals / Refunds related to income and yields on financial assets
Income receipts301 Dividends302 Branch profits303 Compensation paid by a non-resident to a resident employee temporarily abroad (excluding remittances)304 Compensation paid by a non-resident to a non-resident employee in South Africa (excluding remittances)305 Compensation paid by a non-resident to a migrant worker employee (excluding remittances)306 Compensation paid by a non-resident to a foreign national contract worker employee (excluding remittances)307 Commission or brokerage308 Rental309 01 Interest received from a resident temporarily abroad in respect of loans309 02 Interest received from a non-resident in respect of individual loans309 03 Interest received from a non-resident in respect of study loans309 04 Interest received from a non-resident in respect of shareholders loans309 05 Interest received from a non-resident in respect of third party loans309 06 Interest received from a non-resident in respect of trade finance loans309 07 Interest received from a non-resident in respect of a bond309 08 Interest received not in respect of loans310 01 Income in respect of inward listed securities equity individual310 02 Income in respect of inward listed securities equity corporate310 03 Income in respect of inward listed securities equity bank310 04 Income in respect of inward listed securities equity institution311 01 Income in respect of inward listed securities debt individual311 02 Income in respect of inward listed securities debt corporate311 03 Income in respect of inward listed securities debt bank311 04 Income in respect of inward listed securities debt institution312 01 Income in respect of inward listed securities derivatives individual312 02 Income in respect of inward listed securities derivatives corporate312 03 Income in respect of inward listed securities derivatives bank312 04 Income in respect of inward listed securities derivatives institution313 Income earned abroad by a resident on an individual investment314 Not allocated315 Not allocated
(iv) Transfers of a current nature
Transaction adjustments400 Adjustments / Reversals / Refunds related to transfers of a current nature
Current payments401 Gifts402 Annual contributions403 Contributions in respect of social security schemes404 Contributions in respect of charitable, religious and cultural (excluding research and development)405 Other donations / aid to Government (excluding research and development)406 Other donations / aid to private sector (excluding research and development)407 Pensions408 Annuities (pension related)409 Inheritances410 Alimony411 01 Tax - Income tax411 02 Tax - VAT refunds411 03 Tax – Other412 Insurance premiums (non life/short term)413 Insurance claims (non life/short term)414 Insurance premiums (life)415 Insurance claims (life)416 Migrant worker remittances (excluding compensation)417 Foreign national contract worker remittances (excluding compensation)418 Not allocated419 Not allocated
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(v) Transfers of a capital nature
Capital Transfers and immigrants
Transaction adjustments500 Adjustments / Reversals / Refunds related to capital transfers and immigrants
Capital transfers relating to government / corporate entities (excluding loans)501 Donations to SA Government for fixed assets502 Donations to corporate entities - fixed assets503 Investment into property by a non-resident corporate entity504 Disinvestment of property by a resident corporate entity
Capital transfers by non-resident individuals510 01 Investment into property by a non-resident individual510 02 Investment by a non-resident individual - other
Capital transfers by South African resident individuals
Disinvestment of capital(Note: Categories 511/01 to 511/07 is preferred above the use of categories 514/01 to 514/07 and 515/01 to 515/07, which will be discontinued in future)
511 01 Disinvestment of capital by a resident individual – Shares511 02 Disinvestment of capital by a resident individual – Bonds511 03 Disinvestment of capital by a resident individual – Money market instrument
511 04 Disinvestment of capital by a resident individual – Deposits with a foreign bank511 05 Disinvestment of capital by a resident individual – Mutual funds / collective investment schemes511 06 Disinvestment of capital by a resident individual – Property511 07 Disinvestment of capital by a resident individual – Other511 08 Not allocated
Disinvestment of capital in terms of investment allowance 512 01 Not allocated512 02 Not allocated512 03 Not allocated512 04 Not allocated512 05 Not allocated512 06 Not allocated512 07 Not allocated512 08 Not allocated513 Not allocated
Disinvestment of capital to a resident Foreign Currency account(Note: Categories 511/01 to 511/07 is preferred above the use of categories 514/01 to 514/07, which will be discontinued in future)
514 01 Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa – Shares
514 02 Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa – Bonds
514 03 Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa – Money market Instruments
514 04 Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa – Withdrawal from a foreign bank account
514 05 Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa – Mutual funds / collective investment schemes
514 06 Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa – Property
514 07 Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa – Other
514 08 Not allocated
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Disinvestment of capital(Note: Categories 511/01 to 511/07 is preferred above the use of categories 514/01 to 514/07, which will be discontinued in future)
515 01 Disinvestment of capital repatriated in respect of an individual investment – Shares515 02 Disinvestment of capital repatriated in respect of an individual investment – Bonds515 03 Disinvestment of capital repatriated in respect of an individual investment – Money market Instruments515 04 Disinvestment of capital repatriated in respect of an individual investment – Deposit with a foreign bank515 05 Disinvestment of capital repatriated in respect of an individual investment – Mutual funds / collective investment schemes515 06 Disinvestment of capital repatriated in respect of an individual investment – Property515 07 Disinvestment of capital repatriated in respect of an individual investment – Other515 08 Not allocated516 Repatriation of capital, on instruction by the Financial Surveillance Department, of a foreign investment by a resident individual in respect
of cross-border flows 517 Repatriation of capital, on instruction by the Financial Surveillance Department, of a foreign investment by a resident individual originating
from an account conducted in foreign currency held at an Authorised Dealer in South Africa
Immigrants530 01 Immigration530 02 Not allocated530 03 Not allocated530 04 Not allocated530 05 Not allocated530 06 Not allocated530 07 Not allocated530 08 Not allocated531 Not allocated532 Not allocated
(vi) Financial investments/disinvestments and Prudential investments
Transaction adjustments600 Adjustments / Reversals / Refunds related to financial investments/disinvestments and prudential investments
Financial investments/disinvestments (excluding local institutional investors)
Investment by a non-resident601 01 Investment in listed shares by a non-resident601 02 Investment in non-listed shares by a non-resident
602 Investment into money market instruments by a non-resident
603 01 Investment into listed bonds by a non-resident (excluding loans)603 02 Investment into non-listed bonds by a non-resident (excluding loans
604 Not allocated
Disinvestment by a resident corporate entity605 01 Disinvestment of shares by resident - Agriculture, hunting, forestry and fishing605 02 Disinvestment of shares by resident - Mining, quarrying and exploration605 03 Disinvestment of shares by resident - Manufacturing605 04 Disinvestmentofsharesbyresident-Electricity,gasandwatersupply605 05 Disinvestment of shares by resident - Construction605 06 Disinvestment of shares by resident - Wholesale, retail, repairs, hotel and restaurants605 07 Disinvestment of shares by resident - Transport and communication605 08 Disinvestment of shares by resident - Financial services605 09 Disinvestment of shares by resident - Community, social and personal services605 10 Not allocated
Inward listed investments610 01 Inward listed securities equity individual buy back610 02 Inward listed securities equity corporate buy back610 03 Inward listed securities equity bank buy back610 04 Inward listed securities equity institution buy back
611 01 Inward listed securities debt individual redemption611 02 Inward listed securities debt corporate redemption611 03 Inward listed securities debt bank redemption611 04 Inward listed securities debt institution redemption
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612 01 Inward listed securities derivatives individual proceeds612 02 Inward listed securities derivatives corporate proceeds612 03 Inward listed securities derivatives bank proceeds612 04 Inward listed securities derivatives institution proceeds
613 01 Not allocated613 02 Not allocated613 03 Not allocated613 04 Not allocated
Prudential investments (Institutional Investors and Banks)615 01 Disinvestment by resident institutional investor – Asset Manager615 02 Disinvestment by resident institutional investor - Collective Investment Scheme 615 03 Disinvestment by resident institutional investor - Retirement Fund 615 04 Disinvestment by resident institutional investor - Life Linked 615 05 Disinvestment by resident institutional investor - Life Non Linked 616 Bank prudential disinvestment617 Not allocated618 Not allocated
(vii) Derivatives
Transaction adjustments700 Adjustments / Reversals / Refunds related to derivatives
Derivatives (excluding inward listed)701 01 Options – listed701 02 Options – unlisted
702 01 Futures – listed702 02 Futures – unlisted
703 01 Warrants – listed703 02 Warrants – unlisted
704 01 Gold hedging – listed704 02 Gold hedging – unlisted
705 01 Derivative not specified above – listed705 02 Derivative not specified above – unlisted
706 Not allocated707 Not allocated
(viii) Loan and Miscellaneous payments
Transaction adjustments800 Adjustments / Reversals / Refunds related to loan and miscellaneous payments
Loans (Capital portion)
Loans granted to residents801 Trade finance loan drawn down in South Africa802 International Bond drawn down803 Loan made to a resident by a non-resident shareholder804 Loan made to a resident by a non-resident third party805 Not allocated
Loans repaid by a residents temporarily abroad810 Repayment by a resident temporarily abroad of a loan granted by a resident
Loans repaid by non-residents815 Repayment of an individual loan to a resident816 Repayment of a study loan to a resident817 Repayment of a shareholders loan to a resident818 Repayment of a third party loan to a resident (excluding shareholders)819 Repayment of a trade finance loan to a resident820 Not allocated
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Miscellaneous payments830 Details of payments not classified831 Not allocated832 Rand drafts/cheques drawn on vostro accounts (Only applicable if no description is available)833 Credit/Debit card company settlement as well as money remitter settlements834 Not allocated835 Not allocated836 Not allocated
c) Balance of payments categories applicable to BOPCUS non resident rand and BOPDIR – outward payments
The Balance of Payment categories consists of a category and in some cases a sub-category is also applicable.
(i) Merchandise
Transaction adjustments100 Adjustments / Reversals / Refunds applicable to merchandise
Imports: Advance payments (not in terms of import undertaking)101 01 Import advance payment (excluding capital goods, gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal, iron ore
and goods imported via the South African Post Office)101 02 Import advance payment – capital goods101 03 Import advance payment – gold101 04 Import advance payment – platinum101 05 Import advance payment – crude oil101 06 Import advance payment – refined petroleum products101 07 Import advance payment – diamonds101 08 Import advance payment – steel101 09 Import advance payment – coal101 10 Import advance payment – iron ore101 11 Import advance payment - goods imported via the South African Post Office
Imports: Advance payments (in terms of import undertaking)102 01 Import advance payment (excluding capital goods, gold, platinum, crude oil, refined petroleum products, diamonds, steel,
coal and iron ore)102 02 Import advance payment – capital goods102 03 Import advance payment – gold102 04 Import advance payment – platinum102 05 Import advance payment - crude oil102 06 Import advance payment – refined petroleum products102 07 Import advance payment - diamonds102 08 Import advance payment – steel102 09 Import advance payment – coal102 10 Import advance payment – iron ore102 11 Import advance payment - goods imported via the South African Post Office
Imports: (excluding advance payments and not in terms of import undertaking)103 01 Import payment (excluding capital goods, gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal, iron ore and goods
imported via the South African Post Office)103 02 Import payment – capital goods103 03 Import payment – gold103 04 Import payment – platinum103 05 Import payment – crude oil103 06 Import payment – refined petroleum products103 07 Import payment – diamonds103 08 Import payment – steel103 09 Import payment – coal103 10 Import payment – iron ore103 11 Import payment - goods imported via the South African Post Office
Imports: (excluding advance payments but in terms of import undertaking)104 01 Import payment (excluding capital goods, gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal, iron ore and goods
imported via the South African Post Office)104 02 Import payment – capital goods104 03 Import payment - gold104 04 Import payment - platinum104 05 Import payment– crude oil104 06 Import payment– refined petroleum products 104 07 Import payment - diamonds
Customer transaction reporting
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104 08 Import payment– steel104 09 Import payment– coal104 10 Import payment– iron ore104 11 Import payment - goods imported via the South African Post Office
Imports: Other105 Consumables acquired in port106 Repayment of trade finance for imports107 Import payments where the Customs value of the shipment is less than R500108 Import payments where goods were declared as part of passenger baggage and no MRN is available109 01 Payments for goods purchased from non-residents in cases where no physical import will take place, excluding gold, platinum, crude oil,
refined petroleum products, diamonds, steel, coal and iron ore as well as merchanting transactions109 02 Payments for gold purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions 109 03 Payments for platinum purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions109 04 Payments for crude oil purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions109 05 Payments for refined petroleum products purchased from non-residents in cases where no physical import will take place, excluding
merchanting transactions109 06 Payments for diamonds purchased from non-residents in cases where no physical import will take place, excluding merchanting
transactions109 07 Payments for steel purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions109 08 Payments for coal purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions109 09 Payments for iron ore purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions109 10 Not allocated110 Merchanting transaction111 Not allocated112 Not allocated
(ii) Intellectual property and other services
Transaction adjustments200 Adjustments / Reversals / Refunds applicable to intellectual property and service related items
Charges for the use of intellectual property201 Rights obtained for licences to reproduce and/or distribute202 Rights obtained for using patents and inventions (licensing)203 Rights obtained for using patterns and designs (including industrial processes)204 Rights obtained for using copyrights205 Rights obtained for using franchises and trademarks.
Acquisition of Intellectual Property (Excluding Computer related and Audiovisual)210 Acquisition of patents and inventions211 Acquisition of patterns and designs (including industrial processes)212 Acquisition of copyrights213 Acquisition of franchises and trademarks
Research and Development220 Payments for research and development services221 Funding for research and development
Audiovisual and related items225 Acquisition of original manuscripts, sound recordings and films226 Payment relating to the production of motion pictures, radio and television programs and musical recordings
Computer software and related items 230 The outright purchasing of ownership rights of software 231 Computer-related services including maintenance, repair and consultancy232 Commercial purchases of customised software and related licenses to use 233 Commercial purchases of non-customised software on physical media with periodic licence to use234 Commercial purchases of non-customised software provided on physical media with right to perpetual (ongoing) use235 Commercial purchases of non-customised software downloaded or electronically acquired with periodic license.236 Commercial purchases of non-customised software downloaded or electronically acquired with single payment
Technical related services 240 01 Fees for processing - processing done on materials (excluding gold, platinum, crude oil, refined petroleum products, diamonds,
steel, coal and iron ore)240 02 Fees for processing - processing done on gold240 03 Fees for processing - processing done on platinum240 04 Fees for processing - processing done on crude oil
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240 05 Fees for processing - processing done on refined petroleum products240 06 Fees for processing - processing done on diamonds240 07 Fees for processing - processing done on steel240 08 Fees for processing - processing done on coal240 09 Fees for processing - processing done on iron ore241 Repairs and maintenance on machinery and equipment242 Architectural, engineering and other technical services243 Agricultural, mining, waste treatment and depollution services
Travel services for non-residents250 Travel services for non-residents - business travel251 Travel services for non-residents - holiday travel252 Not allocated
Travel services for residents255 Travel services for residents - business travel256 Travel services for residents - holiday travel
Travel services in respect of third parties260 Payment for travel services in respect of third parties - business travel261 Payment for travel services in respect of third parties - holiday travel
Telecommunication and information services 265 Payment for telecommunication services266 Payment for information services including data, news related and news agency fees
Transportation services 270 01 Payment for passenger services - road270 02 Payment for passenger services - rail270 03 Payment for passenger services - sea270 04 Payment for passenger services – air271 01 Payment for freight services – road271 02 Payment for freight services – rail271 03 Payment for freight services – sea271 04 Payment for freight services – air272 01 Payment for other transport services – road272 02 Payment for other transport services – rail272 03 Payment for other transport services – sea272 04 Payment for other transport services – air273 01 Payment for postal and courier services – road273 02 Payment for postal and courier services – rail273 03 Payment for postal and courier services – sea273 04 Payment for postal and courier services – air
Financial services obtained275 Commission and fees 276 Financial service fees charged for advice provided
Construction services 280 Payment for construction services
Government services 281 Payment for government services 282 Diplomatic transfers
Study related services 285 Tuition fees
Other business services obtained287 Payment for legal services 288 Payment for accounting services 289 Payment for management consulting services 290 Payment for public relation services 291 Payment for advertising & market research services 292 Payment for managerial services 293 Payment for medical and dental services294 Payment for educational services295 Operational leasing296 Payment for cultural and recreational services
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297 Payment for other business services not included elsewhere298 Not allocated299 Not allocated
(iii) Transactions relating to income and yields on financial assets
Transaction adjustments300 Adjustments / Reversals / Refunds related to income and yields on financial assets
Income payments301 Dividends302 Branch profits303 Compensation paid by a resident to a resident employee temporarily abroad (excluding remittances)304 Compensation paid by a resident to a non-resident employee (excluding remittances)305 Compensation paid by a resident to a migrant worker employee (excluding remittances)306 Compensation paid by a resident to a foreign national contract worker employee (excluding remittances)307 Commission or brokerage308 Rental309 01 Not allocated309 02 Not allocated309 03 Not allocated309 04 Interest paid to a non-resident in respect of shareholders loans309 05 Interest paid to a non-resident in respect of third party loans309 06 Interest paid to a non-resident in respect of trade finance loans309 07 Interest paid to a non-resident in respect of a bond309 08 Interest paid not in respect of loans310 01 Not allocated 310 02 Not allocated310 03 Not allocated310 04 Not allocated311 01 Not allocated311 02 Not allocated311 03 Not allocated311 04 Not allocated312 01 Fee in respect of inward listed securities derivatives individual312 02 Fee in respect of inward listed securities derivatives corporate312 03 Fee in respect of inward listed securities derivatives bank312 04 Fee in respect of inward listed securities derivatives institution313 Not allocated314 Not allocated315 Not allocated
(iv) Transfers of a current nature
Transaction adjustments400 Adjustments / Reversals / Refunds related to transfers of a current nature
Current payments 401 Gifts402 Annual contributions403 Contributions in respect of social security schemes404 Contributions in respect of foreign charitable, religious and cultural (excluding research and development)405 Other donations / aid to a foreign Government (excluding research and development)406 Other donations / aid to a foreign private sector (excluding research and development)407 Pensions408 Annuities (pension related)409 Inheritances410 Alimony411 01 Tax - Income tax411 02 Tax - VAT refunds411 03 Tax – Other412 Insurance premiums (non life/short term)413 Insurance claims (non life/short term)414 Insurance premiums (life)415 Insurance claims (life)416 Migrant worker remittances (excluding compensation)417 Foreign national contract worker remittances (excluding compensation)418 Not allocated419 Not allocated
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(v) Transfers of a capital nature
Capital Transfers and emigrants
Transaction adjustments500 Adjustments / Reversals / Refunds related to capital transfers and emigrants
Capital transfers relating to government / corporate entities (excluding loans)501 Donations by SA Government for fixed assets502 Donations by corporate entities for fixed assets503 Disinvestment of property by a non-resident corporate entity504 Investment into property by a resident corporate entity
Capital transfers by non-resident individuals510 01 Disinvestment of property by a non-resident individual510 02 Disinvestment by a non-resident individual - other
Capital transfers by South African resident individuals
Investment not related to the investment allowance(Note: Categories 511/01 to 511/07 is preferred above the use of categories 514/01 to 514/07 and 515/01 to 515/07, which will be discontinued in future)
511 01 Investment by a resident individual not related to the investment allowance – Shares511 02 Investment by a resident individual not related to the investment allowance – Bonds511 03 Investment by a resident individual not related to the investment allowance - Money market instruments511 04 Investment by a resident individual not related to the investment allowance – Deposits with a foreign bank511 05 Investment by a resident individual not related to the investment allowance – Mutual funds / collective investment schemes511 06 Investment by a resident individual not related to the investment allowance – Property511 07 Investment by a resident individual not related to the investment allowance – Other511 08 Not allocated
Investment in terms of investment allowance512 01 Foreign investment by a resident individual in respect of the investment allowance - Shares512 02 Foreign investment by a resident individual in respect of the investment allowance – Bonds512 03 Foreign investment by a resident individual in respect of the investment allowance – Money market instruments512 04 Foreign investment by a resident individual in respect of the investment allowance – Deposits with a foreign bank 512 05 Foreign investment by a resident individual in respect of the investment allowance – Mutual funds / collective investment schemes512 06 Foreign investment by a resident individual in respect of the investment allowance – Property512 07 Foreign investment by a resident individual in respect of the investment allowance – Other 512 08 Not allocated513 Investment by a resident individual originating from a local source into an account conducted in foreign currency held at an
Authorised Dealer in South Africa
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Investment from a resident Foreign Currency account(Note: Categories 511/01 to 511/07 is preferred above the use of categories 514/01 to 514/07 and 515/01 to 515/07, which will be discontinued in future)
514 01 Foreign investment by a resident individual in respect of cross-border flows originating from a foreign currency account held at an Authorised Dealer in South Africa – Shares
514 02 Foreign investment by a resident individual in respect of cross-border flows originating from a foreign currency account held at an Authorised Dealer in South Africa – Bonds
514 03 Foreign investment by a resident individual in respect of cross-border flows originating from a foreign currency account held at an Authorised Dealer in South Africa – Money market Instruments
514 04 Foreign investment by a resident individual in respect of cross-border flows originating from a foreign currency account held at an Authorised Dealer in South Africa – Deposit into a foreign bank account
514 05 Foreign investment by a resident individual in respect of cross-border flows originating from a foreign currency account held at an Authorised Dealer in South Africa - Mutual funds / collective investment schemes
514 06 Foreign investment by a resident individual in respect of cross-border flows originating from a foreign currency account held at an Authorised Dealer in South Africa – Property
514 07 Foreign investment by a resident individual in respect of cross-border flows originating from a foreign currency account held at an Authorised Dealer in South Africa – Other
514 08 Not allocated
Re-transfer of capital repatriated (Note: Categories 511/01 to 511/07 is preferred above the use of categories 514/01 to 514/07 and 515/01 to 515/07, which will be discontinued in future)
515 01 Re-transfer of capital repatriated in respect of an individual investment – Shares515 02 Re-transfer of capital repatriated in respect of an individual investment – Bonds515 03 Re-transfer of capital repatriated in respect of an individual investment – Money market Instruments515 04 Re-transfer of capital repatriated in respect of an individual investment – Deposit with a foreign bank515 05 Re-transfer of capital repatriated in respect of an individual investment – Mutual funds / collective investment schemes515 06 Re-transfer of capital repatriated in respect of an individual investment – Property515 07 Re-transfer of capital repatriated in respect of an individual investment – Other515 08 Not allocated516 Not allocated517 Not allocated
Emigrants530 01 Emigrationforeigncapitalallowance–fixedproperty530 02 Emigrationforeigncapitalallowance–listedinvestments530 03 Emigrationforeigncapitalallowance–unlistedinvestments530 04 Emigrationforeigncapitalallowance–insurancepolicies530 05 Emigrationforeigncapitalallowance–cash530 06 Emigrationforeigncapitalallowance–debtors530 07 Emigrationforeigncapitalallowance–capitaldistributionfromtrusts530 08 Emigrationforeigncapitalallowance–otherassets531 Not allocated532 Not allocated
(vi) Financial investments/disinvestments and Prudential investments
Transaction adjustments600 Adjustments / Reversals / Refunds related to financial investments/disinvestments and prudential investments
Financial investments/disinvestments (excluding local institutional investors)
Disinvestment by a non-resident601 01 Listed shares - sale proceeds paid to a non-resident601 02 Non-listed shares - sale proceeds paid to a non-resident
602 Disinvestment of money market instruments by a non-resident
603 01 Disinvestment of listed bonds by a non-resident (excluding loans)603 02 Disinvestment of non-listed bonds by a non-resident (excluding loans)
604 Not allocated
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Investment by a resident corporate entity605 01 Investment into shares by a resident entity - Agriculture, hunting, forestry and fishing605 02 Investment into shares by a resident entity - Mining, quarrying and exploration605 03 Investment into shares by a resident entity - Manufacturing605 04 Investmentintosharesbyaresidententity-Electricity,gasandwatersupply605 05 Investment into shares by a resident entity - Construction605 06 Investment into shares by a resident entity - Wholesale, retail, repairs, hotel and restaurants605 07 Investment into shares by a resident entity - Transport and communication605 08 Investment into shares by a resident entity - Financial services605 09 Investment into shares by a resident entity - Community, social and personal services605 10 Not allocated
Inward listed investments610 01 Inward listed securities equity individual610 02 Inward listed securities equity corporate610 03 Inward listed securities equity bank610 04 Inward listed securities equity institution611 01 Inward listed securities debt individual611 02 Inward listed securities debt corporate611 03 Inward listed securities debt bank611 04 Inward listed securities debt institution612 01 Inward listed securities derivatives individual612 02 Inward listed securities derivatives corporate612 03 Inward listed securities derivatives bank612 04 Inward listed securities derivatives institution613 01 Not allocated613 02 Not allocated613 03 Not allocated613 04 Not allocated
Prudential investments (Institutional Investors and Banks)615 01 Investment by resident institutional investor – Asset Manager 615 02 Investment by resident institutional investor – Collective Investment Scheme 615 03 Investment by resident institutional investor - Retirement Fund 615 04 Investment by resident institutional investor - Life Linked 615 05 Investment by resident institutional investor - Life Non Linked 616 Bank prudential investment617 Not allocated618 Not allocated
(vii) Derivatives
Transaction adjustments700 Adjustments / Reversals / Refunds related to derivatives
Derivatives (excluding inward listed)701 01 Options – listed701 02 Options – unlisted702 01 Futures – listed702 02 Futures – unlisted703 01 Warrants – listed703 02 Warrants – unlisted704 01 Gold hedging – listed704 02 Gold hedging – unlisted705 01 Derivative not specified above – listed705 02 Derivative not specified above – unlisted706 Not allocated707 Not allocated
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(viii) Loan and Miscellaneous payments
Transaction adjustments800 Adjustments / Reversals / Refunds related to loan and miscellaneous payments
Loans (Capital portion)
Loan repayments by residents801 Repayment of trade finance drawn down in South Africa802 Repayment of an international Bond drawn down803 Repayment by a resident of a loan received from a non-resident shareholder804 Repayment by a resident of a loan received from a non-resident third party805 Not allocated
Loans granted to residents temporarily abroad810 Loan made by a resident to a resident temporarily abroad
Loans granted to non-residents815 Individual loan to a non-resident816 Study loan to a non-resident817 Shareholders loan to a non-resident818 Third party loan to a non-resident (excluding shareholders)819 Trade finance to a non-resident820 Not allocated
Miscellaneous payments830 Details of payments not classified831 Rand collections for the credit of vostro accounts832 Not allocated833 Credit/Debit card company settlement as well as money remitter settlements834 Not allocated835 Not allocated836 Not allocated
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Disclaimer This document has been prepared solely for information purposes by The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking Division (“SBSA”). Any indicative terms provided to you are provided for your information and do not constitute an offer, a solicitation of an offer, invitation to acquire any security or to enter into any agreement, or any advice or recommendation to conclude any transaction (whether on the indicative terms or otherwise). Any information, indicative price quotations, disclosure materials or analyses provided to you have been prepared on assumptions and parameters that reflect good faith determinations by us or that have been expressly specified by you and do not constitute advice by us and it should not be relied upon as such. The information, assumptions and parameters used are not the only ones that might reasonably have been selected and therefore no guarantee is given as to the accuracy, completeness, or reasonableness of any such information, quotations, disclosure or analyses. No representation or warranty is made that any indicative performance or return indicated will be achieved in the future. This document is not an official confirmation of terms, and any transaction that may be concluded pursuant to this document shall be in terms of and confirmed by the signing of appropriate documentation, on terms to be agreed between the parties. The information in the document is also subject to change without notice. SBSA, or an associated company, may have effected or may effect transactions for its own account in any investment outlined in the document or any investment related to such an investment. Prospective investors should obtain independent advice in respect of any product detailed in this document, as SBSA provides no investment, tax or legal advice and makes no representation or warranty about the suitability of a product for a particular client or circumstance. Transactions described in this material may give rise to substantial risk and are not suitable for all investors. SBSA will only provide investment advice if specifically agreed to by SBSA in appropriate documentation, signed by SBSA. This information is to be used at your own risks, and SBSA makes no representation with regards to the correctness of the information herein.
Authorised financial services and registered credit provider (NCRCP15) The Standard Bank of South Africa Limited (Registered Bank) Reg. No. 1962/000738/06 SBSA 150309-07/12
Notes: