MONEY, EXCHANGE & CURRENCY IN CAPE TOWN

Exploring Cape Town’s vibrant landscapes and diverse experiences requires a solid understanding of the local currency, banking options, and currency exchange. We will guide you through the essentials of managing your finances during your stay in the Mother City.

Currency in Cape Town: South African Rand (ZAR)

The official currency of South Africa, including Cape Town, is the South African Rand (ZAR). The rand is further divided into cents. Familiarize yourself with the currency’s denominations, which include banknotes and coins.

Currency Exchange: Where and How to Exchange Money

Options for Currency Exchange:

  • Banks: Major banks in Cape Town, such as ABSA, Standard Bank, FNB, and Nedbank, offer currency exchange services.
  • Currency Exchange Bureaus: Dedicated currency exchange bureaus are also available in popular areas and shopping centers.
  • ATMs: ATMs are widespread and allow you to withdraw South African Rand directly from your foreign bank account.

Tips for Currency Exchange:

  • Compare Rates: Before exchanging money, compare rates at banks and currency exchange bureaus to get the best deal.
  • Avoid Airport Kiosks: While convenient, currency exchange services at airports tend to offer less favorable rates.

Banking and ATMs: Accessing Cash

ATM Availability:

  • ATMs are readily available throughout Cape Town, especially in urban and tourist areas.
  • Inform your bank of your travel dates to avoid potential issues with accessing your account.

Banking Hours:

  • Banks in Cape Town typically operate from Monday to Friday, with varying hours.
  • Some banks may be open on Saturdays, but with reduced hours.

Credit and Debit Cards: Widely Accepted

Card Acceptance:

  • Credit and debit cards are widely accepted in Cape Town, particularly in restaurants, hotels, and larger retail establishments.
  • Notify your bank of your travel plans to prevent any potential issues with card transactions.

Cash vs. Cards:

  • While cards are convenient, having a small amount of cash is advisable for transactions in markets, smaller shops, or areas with limited card acceptance.

Tipping Etiquette: Cash Gratuity

Tipping in Cash:

  • Tipping is a common practice in Cape Town. While many establishments accept card payments, it’s customary to tip service staff in cash.

Typical Tipping Percentage:

  • Standard tipping is around 10% to 15% of the bill, but you can adjust based on the quality of service.

Mobile Payments: Limited Usage

Mobile Payment Options:

  • Mobile payment options, such as Apple Pay and Google Pay, are not as widely adopted in Cape Town as in some other cities.

Cash as a Primary Method:

  • While card payments are prevalent, cash remains a primary method of transaction in various situations.

Currency Symbol and Code: ZAR and R

Currency Symbol:

  • The South African Rand is represented by the symbol “R.”

Currency Code:

  • The currency code for the South African Rand is “ZAR.”