Best ways to spend travel money in South Africa: Debit and prepaid cards

South Africa is home to about 10% of the world’s plant species and the South African constitution has officially recognised 12 different languages. However, the monetary system is a little less diverse. There’s only one currency in South Africa, the rand (ZAR), and travel money options are limited.

If you’re preparing for a trip to South Africa, whether it’s for pleasure or business, it pays to find a travel money product that’s going to let you spend and withdraw rand cheaply. Most British banking products charge high fees when you make purchases and withdrawals in South Africa.

Use this page about travel money for South Africa to find the right credit, debit or travel card to take with you. As well, you’ll find information about how to exchange your British pounds to South African rand for less. A little preparation before you leave can save you hundreds in bank fees and a whole lot of stress.

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Although plastic is widely accepted in South African towns and cities, it’s unrealistic to think you can get away with just making card payments in South Africa. ATM withdrawal fees should be a factor in your comparison of travel money options for South Africa.

• Tip: Make sure you tell your card issuer about your travel plans. Credit card fraud is common in South Africa and your bank may block your card if you make a card payment or withdrawal in South Africa.

How much rand should you bring on your trip?

High summer season premiums will add to the cost of your trip to South Africa, but the cost of living and travel varies depending on where you are in the country. In smaller towns, South Africa is surprisingly affordable. Further south and especially in touristic places like Cape Town and Johannesburg, it can be very expensive. If you go to South Africa during high season (December to February) expect to pay a premium for everything. Off-season, prices drop dramatically.

Find out some typical holiday prices in Cape Town

Cape Town	Budget	Mid-range	Expensive
	Hostels £15–£30 per night	2-star hotel £40–£60 per night	5-star hotel £80–£630+
	Fast food £6–£13	Dinner at a mid-range restaurant £18 per person	5-star restaurant £50+ per person
	Boat trips £7.50 per person	SkyDive Tandem – FreeFall Experience and Parachute Ride £120–£200	Hot-air ballooning £150–£200 per person

_{*Prices are approximate and are subject to change.}

How travel cards, credit cards and debit cards work in South Africa

A quick summary of your travel money options in South Africa

_{This table is a general summary of the travel money products in the market. Features and benefits can vary between cards.}

How the different travel money products work in South Africa

Using prepaid travel cards

If you use a prepaid multi-currency travel card, you can load it with British pounds and convert the funds to a supported overseas currency at a locked-in foreign exchange rate.

If you’re spending in a loaded and supported currency, you’ll save on currency conversion fees and be protected from fluctuating currency exchange rates. The currencies you can spend in will vary from card to card. You’ll most likely incur a currency conversion fee when you make an ATM withdrawal or purchase in South Africa.

Even if you don’t have the supported or local currency on your card, you should still be able to use your travel card wherever Visa or Mastercard is accepted. If you don’t have the funds loaded on your card, the travel card will usually use a dropdown sequence to deduct the funds from your available currency wallets. Depending on the card you’re using, the currency order will be either flexible or set in a default order.

If your card is running low on funds, you can top up via an online transfer or BPAY. It can take between 24 hours and 2 business days for funds to appear in your account, so avoid bleeding your account dry before topping it up again.

Travel cards can be used to make overseas purchases at shops and ATM withdrawals, minus the fee for currency conversion, so long as you have the local currency loaded on the card. You can usually top up the card online or with BPAY and move funds into different currency wallets through the app or by accessing your account online.

Using credit cards

A credit card can be a good way to access a higher line of credit, which can come in handy when making large or emergency purchases on your holiday. However, if the card isn’t designed for overseas use, you’re likely to rack up fees as you spend.

If you’re thinking of using a credit card overseas, opt for one with low or no currency conversion or foreign transaction fees as well as other features, such as rewards or complimentary insurance that will benefit you on your trip.

Using debit cards

Most ATMs and EFTPOS machines in South Africa accept Mastercard and Visa debit cards. While there are benefits to accessing your own funds overseas, there are some drawbacks that come with using your debit card in South Africa.

Using traveller’s cheques

Traveller’s cheques are safer than cash. They can be replaced if lost and you need photo identification to cash your cheques. The downside is convenience and cost: You need to visit a bank in South Africa to cash your cheques. Different banks charge different commissions and the exchange rate can vary from bank to bank as well.

The South African rand

South African banknotes come in denominations of 10 rand, 20 rand, 50 rand, 100 rand and 200 rand. The coins available are 1 rand, 2 rand and 5 rand. Small coins are 5, 10, 20 and 50 cents. Prices are rounded down to the nearest 5 cents and the notes are easily distinguished by colour.

Find cash and ATMs in South Africa

The main banks in South Africa are:

What you need to know about withdrawing cash from a South African ATM

South African banks do not charge you to use their ATMs. So you can save on ATM withdrawal fees altogether by choosing a card that doesn’t charge for international ATM withdrawals.

• ATM withdrawal limits
  The maximum amount you can withdraw from an ATM in South Africa is approximately 3,000 rand per withdrawal. You may be able to withdraw more than this if you visit a bank branch and supply photo identification to the teller. You can make multiple withdrawals up to your card provider’s daily withdrawal limit.
• Getting your money changed in South Africa
  You may be approached to get your money changed by a street vendor in South Africa. Although the rates they can give you may seem attractive, there’s a good chance you’re going to get ripped off. Plus, there’s an inherent danger in flashing large amounts of money around on the street.
  Get your money changed at currency exchange offices, banks or make withdrawals from a reputable ATM. You may want to get a sum of money changed to rand before you leave the UK so you at least have a little bit of cash on you at the airport. ZAR is a frequently traded international currency and you may be able to find rates at home that are comparable to the rates you can get when you change your money when you arrive.
  Arguably, the best way to get South African rand is to make an ATM withdrawal. This transaction is subject to the interbank rate, plus a small margin from the card issuer. The interbank rate is the exchange rate banks and large financial institution use to buy and sell foreign currency. Changing cash on the street will give you the tourist rate, whereas using an ATM gives you something close to the interbank rate.
• Use a mix of travel money options for the best result
  Take a mix of travel money options to transact in South Africa conveniently and cheaply. For example, take a credit card for emergencies, but keep your debit or prepaid card on hand for ATM withdrawals and day-to-day purchases. Transaction accounts cost nothing to open, so it’s not too much to ask to apply for a dedicated travel account. Consider your financial situation and how you’ll be spending your money on your trip to decide on the best combination.

Frequently asked questions

• What are the business hours for South African banks?

  Generally, banks in South Africa have similar hours to banks in the UK. Banks open Monday to Friday, 8:30am to 3:30pm. On Saturday, banks usually open at 9am and shut at 11am. You may be able to find banks in shopping centres and airports with extended hours.

• Is it compulsory to tip in South Africa and how much should I tip?

  While it’s not compulsory to tip in South Africa, it’s common to give extra small change to people providing a service such as carrying bags or serving drinks. When you’re at a restaurant, it’s standard to give up to an extra 15% of the total bill. Tour guides and rangers in parks depend on tips to make a liveable income. A tip is common in these situations.

• Is it better to use a card with no currency conversion fees or a card that doesn’t charge for ATM withdrawals?

  This snapshot doesn’t factor in travel card load and reload fees nor card application fees and interest charges.

  	No currency conversion fee debit card	No international ATM fee debit card	Travel card	No currency conversion fee credit card	No international ATM fee credit card
  £300 purchase	£300	£309	£300	£300	£306
  £300 withdrawal	£305	£309	£302	£311	£306

  Assumptions

  • The currency conversion fee is 3%
  • The international ATM withdrawal fee is £5
  • There is no local ATM operator fee
  • The transaction amount is £300

  • ZAR loaded onto the travel card
  • 20 rand travel card ATM withdrawal fee
  • 2% credit card cash advance fee

Written by

Matthew Boyle

Publisher

Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full bio

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Matthew has written 285 Finder guides across topics including:

• Helping first-time buyers apply for a mortgage
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