What is it?
An Advanced Payment Notification (APN) reference number is a mandatory code which needs to be provided to the foreign exchange dealer (bank or forex broker) when a payment is made, as well as to your clearing agent when they clear the goods.
Why do I need it?
This is ONLY needed for:
- Payments for goods still to be imported – so the goods have not yet been cleared through customs.
- Payments over R50 000.