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which bank has more ATM's in Cape Town, Citibank or HSBC?

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which bank has more ATM's in Cape Town, Citibank or HSBC?

Hi everyone,

could someone tell me which bank has more ATM's in Cape Town, Citibank or HSBC? If you can recommend another bank in CT that is open in the US as well that would be fine too. Just trying to avoid banking fees. Thanks in advance for the advice

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1. Re: which bank has more ATM's in Cape Town, Citibank or HSBC?

Hi,

The main banks in South Africa are: Absa, Standard, Nedbank, FNB and Capitec. Citi and HSBC provide financial services but have no ATM outlets.

Banking fees vary and depend on the institution. Cards with Visa or Matercard emblems are generally accepted in South Africa.

Cape Town
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2. Re: which bank has more ATM's in Cape Town, Citibank or HSBC?

As far as I know there are virtually no ATMs from foreign banks in Cape Town (or the rest of SA). You don't need a US bank ATM to use a US Debit Card.

The ATM system has been totally International for many years. As long as your card is branded Visa or Mastercard (or also Cirrus or Maestro) then ANY ATM in South Africa will deliver you Rand. TG mentions all the main banks in the country. ATMs are everywhere - as soon as you arrive in the airport, high street banks, Shopping Malls, Petrol (Gas) stations and many tourist sites - mostly available 24/7.

The SA Banks will charge you zero for using the machine - you ask for one thousand rand, you get one thousand rand - not a cent less.

The cost of the foreign exchange is taken by two parties. The card corporation - either Visa or Mastercard who actually do the foreign exchange from the Rand you request to the Dollars they charge your bank. Their charge is always less than one percent - typically 0.6%.

On top of this all charges come from your bank at home and are mostly profit! This cost varies from Bank to Bank. So the key to getting the best rate is which US bank your card is with.

As far as I know the best US card issuer is Capital One which charges no fee for an overseas transaction. You just get the Visa rate which is 0.6% below daily spot Interbank rate as published on financial websites and updated every minute. Some other banks either charge a fixed fee per transaction - typically $5 or a percentage around 3%.

If you get a Capital One account and card that's the best deal. But otherwise the normal deals are nearly all better than changing cash or travellers cheques.

Edited: 14 November 2011, 09:11
3. Re: which bank has more ATM's in Cape Town, Citibank or HSBC?

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