| What is the local currency? |
| The South African Rand (R) is the local currency. Each rand is equivalent to 100 cents. |
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| What denominations does it come in? |
| Coins come in denominations of 5c, 10c, 20c, 50c, R1, R2 and R5. Notes are issued in values of R10, R20, R50, R100 and R200. |
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| What is the best way to exchange currency? |
| Banks and Bureau de Changes are the most common and safest exchange methods. Some hotels will also exchange currencies for their guests. |
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| What are commonly-used forms of payment for everyday purchases (such as groceries)? |
| Cash and credit cards such as Visa, MasterCard and American Express are most common. |
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| Will I be able to use my credit card around town? If not, list when I’ll need cash. |
| Most retail outlets will accept credit cards, but some smaller shops and restaurants may only accept cash. Fuel outlets (petrol stations) only accept cash or Fuel Cards. |
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| By what method are bills (such as rent and utilities) paid? |
| Internet banking, telephone banking and some ATMs will allow payment for utilities. The major supermarket chains (Checkers and Pick 'n Pay) have facilities for payment of utilities at their check-out counters. |
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| What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? |
| Opening a bank account requires producing an identity document, a salary pay slip, residence permit, tax number and proof of residence, such as a utility bill no older than 3 months. A deposit may also be required. It is best to check with the relevant bank as to their exact requirements. |
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| Will foreign residents be able to find banking services in their native languages? |
| Some foreign banks are represented in Pretoria. |
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| Are there any restrictions on services for those who are new to your country? |
| No restrictions are known, but best to check when opening the account. |
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| What are typical banking hours? |
| Monday to Friday 9.00am to 3.30pm, Saturday 9.00am to 11.00am. |
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| Are automatic teller machines (ATMs) available around the clock? |
| Yes, although some do not accept deposits. |
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| Is there any other money information that might help me? |
| Reward systems are linked to many credit cards whereby benefits are awarded depending on points accrued. |
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| Useful Links |
www.absa.co.za Absa Bank
www.standardbank.co.za Standard Bank
www.nedbank.co.za Nedbank Limited
www.fnb.co.za First National Bank |