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Changing Money in Johannesburg

Cleveland, Ohio
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Changing Money in Johannesburg

I would have added this info to another thread, but for some reason all threads are closed after some time, so even if you have something relevant to add you have to make a new, possibly repeated thread.

I was in Johannesburg and changed money several ways, and these were the rates I found for the US Dollar:

- Cash: 8.97 + fee (ranges between 1.3% and 2%) bringing the exchange rate to around 8.79

- ATM: 9.03-9.11 depending on the day

- Credit Card 8.60 (including foreign transaction fee)

- Credit Card 9.11 (card that had no foreign transaction fees)

So as you can see, if you need cash, the best way is using an ATM, and a credit card is a good choice if it has no foreign transaction fees. In fact, the credit card rate and the ATM rate were the exact same on the same day. But exchanging cash and using credit cards with foreign transaction fees are both bad choices. FWIW.

Greenville, South...
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1. Re: Changing Money in Johannesburg

Great info. Thanks!

New York City, New...
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2. Re: Changing Money in Johannesburg

Thanks! Your post help all fellow travellers

Alpharetta, Georgia
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3. Re: Changing Money in Johannesburg

Hey Kinglerch,

Thanks for the info. Presume you have a US bank, did you use a US bank ATM? What fees did they charge? I have Wells Fargo, and I would love to use it on our upcoming trip but I am think the transaction fees would be prohibitive??

Johannesburg, South...
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4. Re: Changing Money in Johannesburg

To my knowledge, there are no "US BANK" ATM's in South Africa.

Why should there be, this is South Africa?

ATM's are, all local banks.......for example;

First National Bank ( South African FNB, NOT US )

ABSA

Standard Bank

Nedbank

Capitec Bank

Visa and Mastercard and ( I think, Maestro,) are usually accepted.

South Africa
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5. Re: Changing Money in Johannesburg

All over the world the beste rate you get by getting your money using the ATM's !!!!

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6. Re: Changing Money in Johannesburg

hi ,

where i can get d best conversion rate of us dollars into zaar in johensberg.....

St. Petersburg...
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7. Re: Changing Money in Johannesburg

When we travel in EU we purchase currency prior to leaving the US. In most of the EU countries, cash is king and use of credit cards is somewhat limited in smaller establishments and markets. What can we expect in Johannesburg? Our hotel and tours will be paid prior to our vacation. We will need money for a few meals, souvenirs, etc. Should we plan to bring enough Rands and only use ATM or credit card for emergencies? Thanks!

Johannesburg, South...
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8. Re: Changing Money in Johannesburg

Bring a card and use it for paying in restaurants and shops.

Draw some cash from ATM's for daily out of pocket expenses, like tips, and small purchases from street markets, or the occasional drink from a vending machine, etc

New Jersey
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9. Re: Changing Money in Johannesburg

I always take cash with me and use ATMs when I need more. While in Europe 2 years ago, my debit card was frozen due to fraud. So happy I had cash prior. Tested the ATM on my first day to ensure I had no problem. Worked fine. Next day, fraudulent activity in the states. Gone for 2 weeks and could not use ATM w/o calling bank first. Was a pain!

South Africa
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10. Re: Changing Money in Johannesburg

Well just tell your bank you are traveling to South Africa or Europe, so they do not freeze your card.

In Europe you can use the credit card no problem at all, except germany is still a problem.

In S.A..you can use for 90% your credit card, mastercard or visa! And get with your debit card ZA Rand, that is the cheapest options, also for Europe!

An take 2 different kind of credits cards with you in case of a problem!!!

Edited: 10 June 2013, 11:24