Money transfer levy on electronic payments

Dear Client,

We wish to inform you of the recent Taxation (Amendment) (No. 2) Act, affects electronic payments made to you.

The Taxation (Amendment) (No. 2) Act, 2025 introduced a Money Transfer Levy applicable to electronic transfers processed through banks. The levy is collected by banks at the point of transfer and is calculated at 0.05% of the amount transferred.

What this means for you

Where we process payments to you through a bank, the bank may deduct the Money Transfer Levy from the transfer amount.

In such cases, the amount you receive will reflect the net payment after deduction of the levy by the bank.

If you have any questions regarding this notice or how it may apply to your account, please contact our Client Services team.

Yours faithfully,
Continental Capital Limited

Partners in growing wealth