Major FAQ-South Africa
Money Matter
What is the exchange rate? Where should I change my dollars? Can I use debit card or credit card? Should I bring travelers checks?
Find the Exchange Rate for South African Rand at http://www.xe.com/ucc/
With a favorable exchange rate for many international currencies, you'll find South Africa a very inexpensive destination compared with Europe and North America . And an easy one - financial institutions are world-class, with no shortage of banks, bureaux de change and automatic tellers. South Africa 's unit of currency is the rand, which is divided into 100 cents. Coins come in denominations of 5c, 10c, 20c, 50c, R1, R2 and R5, and notes in denominations of R10, R20, R50, R100 and R200. The airport offers convenient, international-standard banking, forex and car rental services.
Cash and travelers checks are suggested to settle most accounts. You will have trouble paying with traveler's checks, but you will be able to exchange th em at local banks or post offices. Traveler's checks are recommended as a safe way to carry money with you, make sure you write down the check numbers and contact information you need to cancel stolen checks. Different brands of traveler's checks work better in different countries so consult your local financial institution about which company you should buy your checks from.
Travelers should have a credit card for large and em ergency purchases so you won't go broke if something goes wrong. If you've requested a pin number for your credit card, you can use it to get cash advances at the ATM.
You can also carry a debit card that can be used at ATM's (Cirrus Network) to withdraw local currency. When using ATM's be advised to bring a friend along, travel directly from the bank back to your home and stash your cash in a reliable safe. When you are carrying cash, break it up into different amounts and keep it in different pockets so if you get robbed you won't lose everything.
Debit card is the best way of getting money and ATM vendors are available. Visa, MasterCard and American Express are accepted in some of the large stores and hotels in larger cities but may not be widely accepted in smaller cities and not at all in the villages.
How much money you bring depends on your personal spending habits. Thrifty people can get by on less than $15/day. Your budget should also include money to explore during free time as well as for your personal use. |
