Switching to Fynbos

What is an external transfer?

An external transfer moves an existing tax-advantaged account from another provider to Fynbos, keeping its tax status intact. You might also hear these called "Section 14" or "in specie" transfers.

• Preserve your tax benefits: TFSA and RA transfers keep their tax-advantaged status

• No contribution limits used: A transfer is not a new contribution, so it doesn't eat into your annual allowance

• No withdrawal: Nothing is paid out to you, so no withdrawal tax or penalties apply

• Consolidate your investments: Manage everything in one place

External transfers are ideal if you have existing investments with another South African provider and want to bring them to Fynbos.

What can be transferred?

You can transfer the following account types to Fynbos:

We support transfers from major South African providers. If yours isn't in the list, choose Other and type its name — we can still work the transfer.

Important: Standard investment accounts cannot be transferred directly. You'll need to sell your holdings with your current provider and deposit the cash to Fynbos.

Information you'll need

Before starting a transfer, gather the following information:

From your current provider:

• Name of the institution (for example, Allan Gray or Satrix)

• Your account number with that provider

• The estimated value of the account

• For an RA, the name of the retirement product you hold

Personal details:

• Your tax reference number from SARS, if we don't already have it on file

For an RA transfer you can also attach a recent statement as a PDF. It's optional, but helpful when it carries the provider, product, account number, or registration number we'd otherwise have to chase.

How to start a TFSA transfer

You can request a TFSA transfer directly from your account.

1. Navigate to your Tax-free investments account

2. Scroll to Transfer your TFSA to Fynbos

3. Tap Request transfer

4. Review what to expect, then tap Continue

5. Select the Institution to transfer from, or choose Other and type its name

6. Enter your Account number at other institution

7. Enter the Estimated value of account

8. Enter your Tax number if we don't already have it

9. Tap Continue

10. Check the summary of the institution, account number and estimated value

11. Tap Confirm transfer

Your request now appears as a status card in the Transfer your TFSA to Fynbos section of your account.

Note: If you're requesting a transfer for a child or another profile you manage, the flow tells you that you're initiating it on their behalf and that you'll sign as guardian. You'll be asked for your own email address for the paperwork.

How to start an RA transfer

Requesting a retirement annuity transfer works the same way, from your RA account.

1. Navigate to your Retirement annuity account

2. Scroll to Transfer your RA to Fynbos

3. Tap Request transfer

4. Review what to expect, then tap Continue

5. Select the Institution to transfer from, or choose Other and type its name

6. Enter the Current retirement product name

7. Enter your Account number at other institution

8. Enter the Estimated value of account

9. (Optional) Tap Current statement to attach a recent statement as a PDF

10. Tap Continue

11. Check the summary, then tap Confirm transfer

What happens next

After you submit a transfer request, here's what to expect:

Within a few days:

• You'll receive an email with transfer documents to sign, once our team has prepared them

• For a TFSA transfer, that email comes from a member of the Fynbos team via Google Workspace eSignatures ([email protected])

• Sign the documents electronically to authorise the transfer

During the transfer:

• Fynbos coordinates with your current provider

• A TFSA transfer typically takes 5-10 business days once signed

• An RA transfer takes longer — up to 6 months, depending on your provider

• A support team member keeps you updated on progress

When complete:

• The value appears in your Fynbos account, ready to invest according to your strategy

• The status card on your account shows Complete

Tracking a transfer

Every request you submit gets its own status card on the account it belongs to, so you don't need to ask for an update. Each card names the provider and the approximate value you told us about, with a chip showing where things stand.

A TFSA transfer card also carries a timeline of the stages, with how long each one took, so you can see which step you're on. If your signing link has expired, the card says so and tells you a new one is on the way. Once complete, tapping the card opens the matching transaction.

An RA transfer card carries a short written update from the team working your case instead, dated so you can see how recent it is. RA transfers move slowly enough that a plain-language note is more useful than a timeline.

If you have more than one account to move, tap Request another transfer on the same section to start a second request.

How transfers work

When you transfer a TFSA to Fynbos, your current provider sells your holdings and transfers the cash within the TFSA wrapper. That cash arrives in your Fynbos TFSA, ready for you to invest according to your chosen strategy.

An RA transfer moves under Section 14 of the Pension Funds Act. The money moves between retirement funds without being paid out to you, so no tax event is triggered and your retirement savings stay protected.

Your two-pot components come across as they were held. Whatever sat in your vested, savings, and retirement components at your old provider lands in the matching component of your Fynbos RA — a transfer never reclassifies your money from one component into another.

What this means for you:

• Your tax-advantaged status is fully preserved

• No contribution limits are used, because it's a transfer and not a new contribution

• You choose how to invest the funds once they arrive at Fynbos