Got questions about money? Whether it’s advice on financial services, foreign exchange, banks, or tipping; here are useful tips for all your money matters in Cape Town…
Currency
100 cents = one rand
Coins: 5c, 10c, 20c, 50c, R1, R2, R5
Notes: R10, R20, R50, R100, R200
Financial Services
Cape Town International Airport has a 24-hour foreign exchange service, as well as various cash machines. There is an abundance of cash machines and foreign exchange outlets throughout Cape Town and the vast majority of retail outlets and service providers in the city have credit card facilities. Most major card (Visa and Mastercard) are accepted widely, and some establishments may also accept American Express.
Most banks are open between 9am and 3:30pm on weekdays and 9am and 11am on Saturdays. Banks are closed on Sundays and public holidays.
Value-Added Tax
South Africa charges value-added tax (VAT) of 15% on goods and services. Foreign visitors can reclaim VAT on purchases of more than R250. This can be arranged through the VAT refund offices at Cape Town International Airport. To reclaim VAT, you will need your original tax invoice/s, as well as your passport. For more information on reclaiming VAT, visit www.taxrefunds.co.za.
Tipping
While South Africa has no legislation regarding tipping, it is customary to leave a tip of at least 10% of your bill at restaurants and bars.
If you are driving around, you will notice car guards patrolling streets where there is free parking. While you are under no obligation to tip these car guards, it is customary to do so if they have looked after your car for more than 30 minutes. While the amount is at your discretion, locals would normally tip an official car guard about R5.
In South Africa, petrol and diesel is administered by attendants. At most service stations, attendants will offer to wash your windows, as well as check your car’s oil and tyre pressure. This is part of the service and you are under no obligation to provide a tip unless you would like to.
Social services in South Africa advise against giving money to street children and beggars. If you’re looking to make a difference, rather donate money to an organisation like The Haven (https://www.haven.org.za) that offers a network of night shelters in and around Cape Town.
