South Africa is a popular destination for its favourable exchange rate; hence foreigners can afford to plan an extended holiday and get the most out of this beautiful country. South Africa remains the destination of choice for those looking for an exhilarating and truly unique travel experience. Best of all, it doesn't have to cost the earth to enjoy everything this wonderful city has to offer.
CURRENCY
The local currency is the rand - international shorthand ZAR and local shorthand R. The rand is made up of 100 cents. The note denominations are R10, R20, R50, R100 and R200; and the coins are 5c, 10c, 20c, 50c, R1, R2 and R5.
BANKS
South African banks enjoy a world-class status and are found abundantly in all major cities, towns and even villages. Bureau de change facilities are also available throughout the country.
The ATMs are linked to all major international networks, accepting Maestro cards, major credit and debit cards, and Cirrus cards.
Banks are usually open from 09h00 every day but closed on Sunday. They close at 15h30 during the week and at 11h00 on Saturdays.
VAT REFUNDS FOR TOURISTS
All stores must charge the Value Added Tax (VAT) of 15% that is levied on the purchase of most goods in South Africa. As a foreign visitor you may apply for a refund of the VAT you pay on items valued over R 250.00 while in the country, provided you apply before you depart. Ensure that you receive your tax receipts for all purchases made, to claim your VAT refund, present all your tax receipts to the VAT administrator at your point of departure.
FOREIGN EXCHANGE
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TAXES
VAT (Value Added Tax) is included in the price of most commodities that you will buy. Tourists must pay this too. However, if you plan to take items worth more than R250 out of the country, you can claim this VAT back if you have a tax invoice for the goods. VAT is currently 15%.