Switching to Fynbos

What is an external transfer?

An external transfer moves your existing investments from another provider to Fynbos without selling them first. You might also hear these called "Section 14" or "in specie" transfers.

• Preserve your tax benefits: TFSA transfers maintain their tax-advantaged status

• Keep your cost base: Your original purchase price is preserved for future capital gains calculations

• Avoid unnecessary tax: No capital gains tax triggered because you're not selling

• 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 including Allan Gray, Satrix, and other unit trust administrators.

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 (e.g., Allan Gray, Satrix)

• Your account number with that provider

• Estimated value of the account

Personal details:

• Your tax reference number (from SARS)

• Your email address (for signing documents)

Having these details ready makes the transfer request process quick and simple.

How to start a TFSA transfer

You can initiate a TFSA transfer directly from the Fynbos app.

1. Navigate to your Tax-Free Savings account

2. Tap Transfer in existing TFSA

3. Review what to expect and tap Continue

4. Enter the name of the institution you're transferring from

5. Enter your account number at the other institution

6. Enter the estimated value of your account

7. Enter your tax reference number

8. Enter your email address

9. Tap Confirm

You'll see a confirmation that your transfer request has been submitted.

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

• This email comes from Adrian Hope-Bailie via Google Workspace eSignatures (esignature-noreply@google.com)

• Sign the documents electronically to authorize the transfer

During the transfer:

• Fynbos coordinates with your current provider

• The transfer typically takes 5-10 business days

• A support team member will keep you updated on progress

When complete:

• Your holdings appear in your Fynbos account

• Your full transaction history is preserved

• You can start managing your investments in the app

How transfers work

When you transfer a TFSA to Fynbos, your current provider will sell your holdings and transfer the cash within the TFSA wrapper. This cash then arrives in your Fynbos TFSA, ready for you to invest according to your chosen strategy.

What this means for you:

• Your tax-advantaged status is fully preserved

• No contribution limits are used (it's a transfer, not a new contribution)

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