Money & Budget
Rands and cents
· The rand is divided into 100 cents
· Coins come in denominations of 5c, 10c, 20c, 50c, R1, R2 and R5
· Notes come in denominations of R10, R20, R50, R100 and R200
· Travellers cheques can be exchanged in banks, bureaux de change and some hotels. It is suggested you bring them in hard currencies.
· Money can also be withdrawn at automated tell machines (ATM) of which there are many countrywide.
· South Africa's 'big 4' banks are Absa Bank, First National Bank, Nedbank and Standard Bank.
· Banking hours are generally 09h00-15h30 on weekdays and 08h30 - 11h00 on Saturdays.
· All major credit cards are accepted in the country, particularly MasterCard, Visa, American Express and Diners Club. Be aware, however, that you can't purchase fuel on a credit card.
Most retail purchases carry a VAT levy of 14%, which is refunded to foreign tourists at departure points, subject to stipulated amounts spent, completion of the necessary forms and presentation of original tax invoices.