The acceptable form of payment is credit and debit cards, and the local currency is the South African Rand (R or ZAR). However, the majority of marketplaces, businesses, and eateries still only accept cash, and ZAR remains the sole accepted currency in these instances. Many national parks on the continent, including those in South Africa, only take admission fees paid in US dollars, which will surprise many who travel to Africa for the first time. The same is true of certain well-liked pastimes like guided excursions and safaris. Travelers from other countries should carry both rands and dollars with them. Any bank or currency exchange office in the nation offers currency exchange services.
Where can I exchange foreign money in South Africa?
- Rennies.
- Travelex.
- Inter Africa Bureau de Change.
- Master Currency.
Which South African bank offers the best foreign exchange rates?
For the sixth consecutive year, FNB has won the Global Finance Magazine’s annual World’s Best Foreign Exchange Provider honors as the best foreign exchange provider in South Africa.
Can I use an ATM in South Africa to deposit foreign currency?
Transferring a Deposit. To avoid making a pointless trip, get in touch with your neighborhood branch to see whether it can exchange your currency. Generally speaking, you can’t deposit your foreign currency at an ATM.
What paperwork is required in order to exchange foreign currency?
You’ll need the following details whether you’re buying or selling forex:
- a passport and ID proof.
- Where necessary, documentation of your trip.
- a residency permit that is no older than three months.
- To exchange currency in-branch, you don’t need to have a banking account with a specific financial institution.
Any bank will do to exchange foreign currencies?
Yes. For their clients, many banks and credit unions convert currencies. Although there could be a tiny fee, you’ll probably obtain the greatest conversion rate possible.
