Bidvest Bank: Foreign exchange & currency cards

Why Bidvest Bank is known for forex

Foreign exchange is Bidvest Bank's founding business. Bidvest Bank states it draws on 150 years of foreign exchange experience through its Rennies Foreign Exchange heritage, which the Bidvest Group acquired in 1998; the business became Rennies Bank in 2000 after receiving a South African Reserve Bank licence, then rebranded to Bidvest Bank in 2007. Bidvest Bank is an authorised dealer in foreign exchange, a role that includes assisting the South African Reserve Bank in administering exchange control for South African businesses. That heritage is why Bidvest Bank remains one of the country's established names in travel foreign exchange for individuals, businesses and corporations, alongside its transactional banking products.

For South Africans emigrating or otherwise navigating exchange control regulations, Bidvest Bank's own website (as of this article) still actively promotes a partnership with FinGlobal, describing it as "our sister company" and offering to help clients attain formal non-resident tax status and move funds abroad while retaining South African citizenship. However, corporate and financial press reported that Bidvest Group sold its full stake in FinGlobal to Momentum Group in a transaction completed on 30 April 2025 — which would mean FinGlobal is no longer a Bidvest Group company. These two things don't fully square: it's possible Bidvest Bank's marketing content simply hasn't been updated since the ownership change, or that a commercial/referral partnership continues independently of who now owns FinGlobal's equity. Given the conflict, don't assume either "still a sister company" or "no longer affiliated" — confirm the current relationship directly with Bidvest Bank before relying on it.

Separately, Bidvest Bank's own site references a "Global Payments Online" (GPO) solution for managing international payments and receipts — this is the same underlying GPO Portal covered below.

Mastercard® World Currency Card™

Bidvest Bank's travel card is officially the Mastercard® World Currency Card™, issued by Bidvest Bank under licence from Mastercard. It's a prepaid, reloadable card that can hold up to 17 currencies at once, so travellers aren't limited to one currency or forced to rely on cash. Loading currency locks in the exchange rate at that moment, so spending abroad isn't affected by rate movements afterwards, and if one currency purse runs low while travelling, the card can draw from another loaded currency automatically. It comes with a duplicate card that can be kept separately as a backup in case the primary card is lost or stolen while abroad.

The card can be preloaded or topped up through Bidvest Bank's online forex ordering portal, via the World Currency Card mobile app or "My Account" online portal, or in person at a Bidvest Bank branch. Balances, transaction history and transfers between currency purses can all be managed through the app or online portal while travelling.

• Holds up to 17 currencies on one prepaid card
• Exchange rate is locked in at the moment you load funds
• Duplicate card issued as a backup — keep it stored separately from the primary card
• Report a lost card from South Africa on 0860 11 11 77, or from abroad on +27 11 407 3103
• Proof of identity is a legal requirement to purchase foreign exchange in South Africa

World Currency Card vs. other SA multi-currency travel cards

Bidvest Bank isn't the only South African provider with a multi-currency travel card. Here's how the World Currency Card compares to the other established options on the currency it can hold and whether you need an existing bank account to get one:

On raw currency count, the World Currency Card's 17-currency capacity is the widest of the established South African travel cards found for this comparison — useful if a trip spans several countries with different currencies rather than a single destination. Like the Absa Cash Passport, it doesn't require you to already bank with Bidvest, which matters if you'd rather not open a full transactional account just to get travel money sorted. As with any multi-currency card, the number of currencies it holds is only part of the cost picture — the exchange-rate margin applied when you load funds usually matters more than the headline currency count or a flashy "no commission" claim. Confirm the effective rate you're getting (not just the fee) with Bidvest Bank before committing.

Buying travel currency

Bidvest Bank sells and buys foreign currency cash for travel and business purposes through its branches and foreign exchange outlets, and can also deliver ordered cash or cards door-to-door to a home or business address after ordering online. Foreign exchange can be ordered online with the rate locked in at the time of order, which helps mitigate the risk of the rate moving before travel. Because South African exchange control regulations and identification requirements apply to foreign exchange purchases, expect to provide valid proof of identity, and check current allowances and requirements with Bidvest Bank or your travel provider before your trip.

BidSend: sending money abroad via WhatsApp

BidSend is Bidvest Bank's international remittance service, launched in December 2023 through a partnership with Mastercard. It runs on Mastercard's cross-border payment network and lets people send money to more than 100 countries through WhatsApp or a progressive web app, without needing to be an existing Bidvest Bank customer. Senders can choose how their beneficiary receives the money — as cash, into a mobile wallet, or as a bank account payment — and can settle the transaction with a debit or credit card. Payments are designed to reach beneficiaries in minutes rather than days, at a lower cost than traditional international remittance channels.

Western Union and MoneyGram at Bidvest Bank

Alongside BidSend, Bidvest Bank is also an agent for both Western Union and MoneyGram, two of the longest-established global money transfer networks. This means you can send or receive a Western Union or MoneyGram transfer through Bidvest Bank, and — based on Bidvest Bank's own promotional messaging — receiving a transfer this way doesn't require you to already hold a Bidvest Bank account, which is useful if someone abroad needs to get cash to you quickly without either of you setting up new banking relationships first. For current locations offering this service and the documents you'll need to collect a transfer, confirm directly with Bidvest Bank, since not every branch necessarily offers it.

The Bidvest Bank GPO Portal (Global Payments Online)

Business and corporate clients managing larger foreign exchange or trade finance activity use a separate, dedicated platform called the GPO Portal — short for Global Payments Online (gpo.bidvestbank.co.za) — distinct from the regular personal or business internet banking login. It's built for tasks like managing FX contracts, generating contract, payment, quote and foreign receipt reports, handling forward rate and volatility management, and processing SWIFT confirmations. This is a different system from the Grow Account or Business Account internet banking portal, so if you're a retail customer just looking to check your balance or make a payment, the GPO Portal isn't what you need — see the Bank Accounts page instead for regular internet and mobile banking.

Staying safe while travelling

Bidvest Bank advises travellers to keep its contact centre number on hand in case a card needs to be reported lost or stolen, to be alert around ATMs and avoid distractions from strangers offering "help," to only insert a card when instructed by the machine, to cover the keypad when entering a PIN, and to secure card and cash before leaving the area. If an ATM displays an unusual message, remove the card immediately and try a different, more visible machine instead.

Frequently asked questions