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Money Matter in South Africa

  Topic » Tour and Travel Tips For World » Travel Tips For South Africa
Post By : Rainrays At 2011-07-02 11:16:29

Official currency of the South Africa : Official currency of South Africa is Rand. South African currency notes are in denominations of ZAR 200, 100, 50, 20 and 10. Coins are available in denominations of ZAR5, 2 and 1, and 50, 20, 10, 5, 2 and 1 cents.

1 Rand (ZAR ) = 100 cents

Exchange rates are typically:

UK Sterling:               £1 = R11
US Dollar:                  $1 = R
Japanese Yen:          ¥1 = R0.1
Euro:                        €1 = R9
Australian Dollar:      $1 = R6

Banking hours in South Africa :
08h30/09h00 - 15h30/16h00 Mon-Fri
08h00/09h00 - 11h00/11h30/12h00 Sat

Currency Conversion and Exchange Rates
-> Exchange rates is vary from minute to minute depending on world markets.
-> Your Tour Manager will be able to recommend some good place to make exchanges in the local area, otherwise banks generally have competitive exchange rates.
-> Many exchange outlets offer ‘no commission’ exchange but the actual rate that they exchange at is not in your favor.
-> When exchanging cash or travellers cheques it’s best to check the rate and commission before making the exchange.
-> Avoid changing money at the hotel cashiers desk, as the rates are often higher.

ATM's and cash machines - South Africa
-> In South Africa ATM’s are widely available throughout most places. it’s a good idea to carry around a cash float or a travellers cheque
-> If you are using your ATM card, take two cards, as magnetic strips can be damaged and it is always good to have a backup, especially if one gets lost.
-> Use  ATM cards and credit cards.It is the best way.

Travellers cheques in Europe
Travelers cheques is the best way to carry cash as if you loose them they can be replaced.

1. If you choose to use the travelers cheques then you use the
    Rand for South Africa
2.  Use of travelers cheques, if you don't use the ATM cards or credit cards, because these can be refunded if lost or stolen.
3. Keep all the information related to travelers cheques. If lost or stolen, you will have a record and claiming insurance will be easier.

Credit cards :
Generally credit cards and other bank issued cards are most reliable way to access money overseas. South African petrol stations do NOT ALL accept credit cards. So you have sufficient cash for petrol purchases.

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.

Tipping in South Africa

Tipping in South Africa is generally quite acceptable in most of the places. It is a  important part of the culture and you can easily offend people and make life more difficult for yourself by not observing this custom

-> Tip in Restaurants and bars : 
In Restaurants and bars generally 10% to 15% is accepted tipping standard
-> Tip in Parking : You should be offered R2 and up depending on the length of your stay.
-> Hotel porters usually expect a tip of R10 to R20 per porter service
-> You also give the tip of the porters at airports is between R5 and R10 per piece of luggage.
-> Tip in Taxis : Some Rand is considered a good tip for taxi drivers throughout South Africa. Rounding up the fare, letting the driver keep the change or R2 for longer journeys is sufficient.

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