South Africa is a captivating mix of wild safaris, vibrant cities, and rich cultural heritage, where knowing how to handle money is just as important as planning your itinerary. Whether you’re bargaining at a local market, enjoying a meal in a luxury restaurant, or paying for an adventure in Kruger National Park, this guide covers everything you need to know—what currency to bring, the best ways to get money and currency in South Africa (South African Rand (ZAR)), cash safety tips, and essential dos and don’ts. With these insights, you’ll avoid unnecessary fees and enjoy every moment of your South African journey.
How to pay in South Africa – cash or card?
In South Africa, both cash and card payments are widely used, with preferences varying based on transaction type, location, and individual habits. Recent studies indicate that cash remains a prevalent payment method in South Africa. Approximately 86% of South Africans use cash regularly, with 95% withdrawing money from ATMs at least once a month. However, there remains a shift towards electronic payments. Debit card payments accounted for 55% of transaction value, while cash transactions represented 21%. Despite this, cash was used in 56% of all payment transactions by volume, indicating its continued importance for smaller purchases.
You can use cash for:
- Public Transportation: Buses, minibus taxis, and certain train services often require cash payments.
- Informal Markets and Street Vendors: Purchases at local markets, street stalls, and informal traders are predominantly cash-based.
- Tipping: It’s customary to tip in cash for services such as car guards, fuel station attendants, and restaurant staff.
- Rural and Peri-Urban Areas: In less urbanized regions, electronic payment facilities may be limited, making cash essential.
- Small Purchases: For minor expenses, cash is often the preferred method.
You can use card for:
- Retail Stores: Major supermarkets, shopping malls, and branded stores widely accept debit and credit cards.
- Restaurants and Cafés: Many dining establishments, especially in urban areas, facilitate card payments.
- Hotels and Lodging: Most hotels, guesthouses, and lodges accept card payments.
- Online Services: E-commerce platforms, online bookings for flights, accommodations, and other services typically require card payments.
- Fuel Stations: While many accept cards, it’s advisable to confirm beforehand, as some may prefer cash.
What’s the best currency to take to South Africa
South African Rand is typically the best currency to take if you are travelling to South Africa. Paying or withdrawing money in the local currency comes with the least amount of fees, sometimes fee-free too.
Many tour operators and hotels quote rates in US Dollars and some may insist on accepting US Dollars when they see foreigners. But if you pay in US Dollar and not in South African Rand, exchange rate in these payments will be poor. So pay in ZAR unless you like losing a lot of money!
Euros or Pounds are not widely accepted here.
Where to get currency in South Africa
There are 3 main ways to get cash in South Africa. They are:
- ATMs, or
- Currency exchange, or
- Money transfer & local pick-up
Types of cards to swipe in South Africa
Visa and Mastercard transactions are commonly accepted for swiping. You might also find some places that accept Amex and other cards, albeit less frequently.
Types of cards at ATMs in South Africa
If you’re withdrawing money in South Africa from an ATM, ATMs commonly accept Visa, Mastercard, Maestro, Plus, Cirrus, cards. Some bank ATMs accept others like UnionPay and Diners cards while some 2-3 bank ATM accept American Express. JCB, Discover or Rupay cards cards are generally not accepted.
Should I exchange money before travelling to South Africa
Bringing a small amount of South African Rand (ZAR) before traveling can be useful for immediate expenses like taxis, tips, and small purchases. However, exchange rates outside South Africa are often less favorable, and some foreign banks may not stock ZAR, requiring pre-ordering.
Withdrawing ZAR from ATMs in South Africa when you arrive is a convenient option, as they are widely available in airports, cities, and shopping malls. Most ATMs accept Visa, Mastercard, Cirrus, Plus, and Maestro cards, but check with your bank for international withdrawal fees.
It’s generally better to exchange money in the city at authorized exchange bureaus, which offer competitive rates. If absolutely necessary, exchange only a small amount at the airport or hotel as their rates tend to be less favorable.
Where to withdraw money in South Africa
The best ATMs for foreigners to use in South Africa are those owned by popular banks such as:
- First National Bank (FNB)
- First Rand Bank
- Standard Bank
- Capitec Bank
There are other banks with ATMs that also accept international debit and credit cards.
Some international banks also have their ATMs in South Africa namely Standard Chartered.
Where to exchange currency in South Africa
In South Africa, currency exchange offices, commonly referred to as bureaux de change, are widely available and offer a convenient way to convert foreign currencies into South African Rand (ZAR). These licensed exchange bureaus are typically located in tourist areas, shopping malls, and airports, providing competitive rates comparable to those offered by banks.
Currency Exchange Offices: Travelex, American Express Foreign Exchange and Master Currency are some known brands for currency exchange in South Africa. But you will find many local ones too n touristic streets in the cities. Operating hours are usually 8:30 AM to 5:30 PM on weekdays and 9:00 AM to 1:00 PM on Saturdays.
Banks: Major banks such as Standard Bank, First National Bank (FNB), Absa, and Nedbank offer foreign exchange services. These banks have branches across the country, including in major cities and airports, providing reliable services. They facilitate the exchange of foreign currencies and offer services like ordering currency online for in-branch collection. Operating hours typically range from 9:00 AM to 3:30 PM on weekdays, with some branches open on Saturdays.
You can find good currency exchanges using the ATM Fee Saver app – it will guide you to the nearest currency exchange on the map. The App helps you with forex places in 100+ countries including South Africa.
Stay away from fees-free exchange offices and airport currency exchanges: They charge the most and have the worst currency rates. To change money, try and wait till you reach the city.
Safety of carrying cash
Petty crimes like bag snatching and pickpocketing are common in South Africa, particularly in crowded cities, therefore it’s not a good idea to carry a lot of cash. Carry just the essentials for the day and pay online or with a credit card whenever you can. For security:
- Rather than keeping all of your cash in one place, spread it out throughout several pockets, wallets, or even a money belt.
- Secure some of your cash in a fanny pack, safety belt, or other suitable travel pouch.
- Be cautious not to flaunt huge quantities of cash when you shop or make public displays of wealth.
- In busy areas, such as marketplaces or ATMs, it is especially important to be discreet when dealing with money.
- For added protection, put your wallet in your front pocket or carry it in a zippered crossbody purse.
- Crowded areas, such taxi stands, shopping centres or public transportation hubs, use extra vigilance.
Taking these measures will make dealing with cash in South Africa much safer and less susceptible to theft.
Is it better to use debit or credit cards or pay by cash
If there are no fees, use a card. For example, your bank does not charge you for using a card, the merchant or point-of-sale system does not charge you extra for using a card, or if you need to use the card’s insurance, you don’t want to block the cash for big transactions, and the card’s swipe fees are less than the withdrawal fees.
Pay using cash by exchanging currencies or withdrawing cash from an ATM if the fees associated with ATM withdrawals are lower than those associated with swiping cards, and if it is more simple and straightforward to complete transactions.
