SA Money & Banks

  • Wednesday, 14 August 2013
  • Jeanette du Toit | LInda Chivell
  • Travel Tips

Banking and Foreign Exchange

Most Banking groups are represented in the area. The majority of the groups have foreign exchange facilities. Most banks open between 9h00 and 15h30 daily and Saturdays between 08h30 and 11h00. Automatic teller machines (ATMs) are to be found in the central business districts and accept international bank and credit cards.

Credit cards/Travellers cheques
South Africa has a modern and sophisticated banking and commercial system and most shops and hotels will accept international credit cards and travelers cheques provided that they are in acceptable currency.

South Africa's currency is the rand, which offers visitors great value for money.

The currency is Rands and Cents.
One Rand (R) = 100 cents.
Notes are issued in the following denominations:
R200, R100, R50, R20 and R10
Coins: R5, R2, R1, 50c, 20c, 5c


  • FIRST NATIONAL BANK (FNB):  +27 (0) 28 312 1140
  • STANDARD BANK:  0860 101 341
  • ABSA BANK:  +27 (0) 28 313 7200
  • NEDBANK:  +27 (0) 28 313 8800
  • CAPITEC BANK:  +27 (0) 28 313 2210

ATM's are mainly situated in the central business district, shopping centres and banks.

VAT (Value Added Tax) 
14% is included in the purchase price of most goods and services.
Tourists may apply for a refund of VAT on items purchased and taken out of the country, provided the value exceeds R250.

It is customary to tip front line service people. 10 – 15% of the total amount purchased, is the accepted average.

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