South Africa Money

Money

The currency is the Rand (ZAR). Rough conversion {2} rates are: 7:1 (USD), 9:1 (EUR) and 13:1 (GBP). Carry one of the above currencies, as conversion between any of them and the Rand can be done at any bank without trouble. The Rand is also used in Namibia, Lesotho and Swaziland, although it is not an official currency in these countries.

Traveller's Cheques are a safe way of carrying money around. You can exchange them at all banks (you will find one even in the roughest places) and you will get a refund if they are stolen. The disadvantage is that you cannot pay with them and you will need change when exchanging them into Rand. Use ATMs instead if possible.

Automated teller machines (ATMs) are available throughout the country. It is best to use only ATMs that are inside a mall or other building. Always be careful to make sure no one is watching you enter your PIN, and be vigilant about scams (e.g. machines that seem to eat your card and won't give it back after you enter the PIN). Some banks (e.g. First National Bank) only give out R1000 a day, while others (e.g. ABSA) will allow you to withdraw R3000 a time. You can use all major credit and debit cards.

Prices in shops are fixed, but prices in open markets or from street vendors are open to barter. Tipping is the norm in restaurants and at gas-stations (which are all full-service). Indeed, most of these businesses pay their staff shameful salaries, often below the legal minimum-wage, relying on customer-tips to bring staff incomes up to livable levels. Tips of around 10% of the bill are considered the norm.

Foreigners should note that fuel cannot be bought on credit cards. Fortunately many petrol stations in South Africa have ATMs.