Travel Money Guide: South Africa

Rates and Fees verified correct on October 27th, 2016

Read this travel money guide to learn how you can save on bank fees during your trip to South Africa.

South Africa is home to about 10% orf the world’s plant species, and the South African constitution has officially recognised 11 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 Australian banking products charge like a wounded springbok 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 Australian dollars 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.

Which option is right for your next trip?

Flight Centre Key to the World Currency Card

Flight Centre Key to the World Currency Card

The Key to the World Currency Card is a prepaid travel card from Flight Centre, which lets you load up to 10 currencies in just one card.

  • Pay no card issue fees, initial load fees and inactivity fees.
  • This card lets you transfer between currencies, load more funds and check your balance and transactions online.
  • You can choose up to 10 currencies to load onto your card.

    Compare travel cards for South Africa

    Rates last updated October 27th, 2016
    Available Currencies ATM Withdrawal Fee Reload Fee Initial Load Fee
    Flight Centre Key to the World Currency Card
    Flight Centre Key to the World Currency Card
    AUD, USD, SGD, NZD, JPY, THB, GBP, EUR, HKD, CAD USD 2.50, EUR 2.50, GBP 2.00, NZD 3.50, THB 80.00, CAD 3.50, HKD 18.00, JPY 260.00, SGD 3.50, AUD 3.50 1.1% of the total amount $0 Go to site More
    Travelex Travel Card
    Travelex Travel Card
    AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD Travelex does not charge an ATM withdrawal fee when you use your Travelex Multi-currency Cash Passport to withdraw currencies that are loaded on the card at overseas ATMs where MasterCard is accepted. The greater of 1.1% of the initial load / reload amount or AU$15.00 $0 Go to site More
    Rates last updated October 27th, 2016
    Foreign Currency Conversion Fee (MC) Foreign Currency Conversion Fee (VISA) Overseas ATM Withdrawal Fee Annual fee
    Bankwest Zero Platinum MasterCard
    An introductory offer on balance transfers with $0 annual fee. Complimentary travel insurance & 24/7 Concierge service and $0 foreign transaction fees.
    0% of transaction value $0 $0 p.a. Go to site More info
    28 Degrees Platinum MasterCard
    Benefit from no international transaction fees on purchases, no currency conversion fees and no annual fee.
    0% of transaction value $0 $0 p.a. Go to site More info
    Bankwest Qantas Platinum MasterCard
    Receive 50,000 introductory bonus Qantas Points when you apply before 30 November 2016. Earn 0.50 rewards points per $1 spent on eligible purchases.
    0% of transaction value $0 $160 p.a. Go to site More info
    Rates last updated October 27th, 2016
    Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
    Westpac Choice
    $0 Overseas ATM fee when you withdraw from the Global ATM alliance network.
    Mastercard $0 $2,000 No ATM fees when using St.George, Westpac, BankSA or Bank of Melbourne ATMs in Australia. Deposit at least $2,000 per month and enjoy no monthly service fee. Open More
    St.George Complete Freedom Account
    $0 Overseas ATM fee when you withdraw from the Global ATM alliance network.
    Visa $0 $2,000 No account keeping fees, if you deposit $2,000 per month plus no minimum balance required. No ATM fees when using St.George, Westpac and BankSA ATMs. Open More
    Bank of Melbourne Express Freedom
    $0 Overseas ATM fee when you withdraw from the Global ATM alliance network.
    Visa $0 $1,000 No ATM fees when you use Bank of Melbourne, St.George, Westpac and BankSA ATMs. No monthly fees if you deposit $1000 into your account each month. Open More
    Bankwest Qantas Transaction Account
    No overseas ATM withdrawal fees (charged by Bankwest), 3rd party ATM fees and international transaction fees may still apply.
    Mastercard $0 $2,000 No monthly fees when you deposit at least $2,000 into your account each month. Free access to Bankwest and CommBank ATMs in Australia. No overseas ATM withdrawal fees (charged by Bankwest) though third party fees may apply. Open More
    Citibank Plus Everyday Account
    No international transaction fees and no overseas ATM withdrawals fees if you use a Citibank ATM overseas.
    Visa $0 $0 No ATM fees using Citibank, Westpac, BankSA and St.George branded ATMs in Australia. Use overseas Citibank ATMs for free. More

    What are the options for South African travel money?

    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.

    ATM fees and withdrawing cash in South Africa

    • Look for partnerships between Australian and South African banks. Westpac has an agreement with ABSA. ABSA is one of the big four banks in South Africa. This partnership means you won’t incur an international ATM fee if you use an ASBA ATM with a Westpac bank card. ABSA ATMs can be found all over the country.
      Like most other travel cards, the Westpac travel card charges a flat fee of 20 rand for each international ATM withdrawal. Using a travel card means you avoid the currency conversion fee, but you’ll still pay an international ATM fee. You can save on ATM fees using a debit or credit card, but you’ll still pay for currency conversion.
    • 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?

     Cape CityBudgetMidrangeExpensive
    sleepBudget rooms
    $25 - $50 per night

    2 star hotel

    $50 - $90 per night

    5 star hotel

    $135 - $1,070


    Fast food

    $10 - $22

    Dinner at a midrange restaurant

    $30 per person

    5 star restaurant

    $100 per person


    Boat trips

    $13 per person

    SkyDive Tandem –FreeFall Experience and Parachute Ride
    $203 - $330

    Hot-air ballooning

    $250 - $345 per person

    *Prices are approximate and are subject to change.

    Exchange rate history

    YearAverage annual exchange Australian Dollar (AUD) to South African Rand (ZAR)
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    How travel cards, credit cards and debit cards work in South Africa

    A quick summary of your travel money options in South Africa

    Travel money optionProsConsiderations
    Debit cards for travel
    • Lower cash advance fee
    • Avoid local ATM fees
    • Access your own funds
    • No currency conversion and foreign transaction fees
    • Can charge overseas ATM withdrawal costs
    • Currency conversion fees
    Prepaid travel money cards
    • No currency conversion fee
    • Dual card account
    • Locked-in exchange rates
    • Reward points earning
    • Higher exchange rates compared to Visa and MasterCard
    • Fees (such as reload fee, ATM withdrawal fee, inactivity fee, overseas ATM withdrawal fee)
    Credit cards for travel
    • Financial freedom
    • Reward points earning
    • Extra features such as complimentary insurance and purchase protection
    • Currency conversion fees
    • ATM fees
    • Temptation to spend
    Traveller's cheques
    • Safer than cash
    • Can be easily replaced if lost or stolen
    • Photo I.D. needed to cash cheques
    • Inconvenient to cash cheques
    • Cost
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    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 Australian dollars 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, but the Westpac Global Currency card is currently the only Australian travel card that supports ZAR. So if you’re using another 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 two 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.


    • No currency conversion fee. Find a travel card that lets you convert Australian dollars to South African rand without paying extra for the currency conversion.
    • Dual card account. You get two cards when you apply for a travel card account, which will come in handy if one is lost or stolen while you’re on holiday.
    • Locked-in rate. The exchange rate is locked in when you transfer funds between currency wallets, protecting you from negative currency fluctuations.
    • Rewards. Some travel cards reward you with frequent flyer points when you spend in a foreign currency.


    • Exchange rate. Travel cards are subject to the card provider’s cash rate. This is higher than the exchange rate offered to Visa and MasterCard debit and credit cards. There are travel card providers that use the better-value interbank rate, but these products are not common.
    • Fees. You pay fees when you use the card, either to load or reload funds, to withdraw from an ATM or to transact in a currency not already loaded on the card. Some accounts also charge an inactivity fee. Even if you use a travel card from a bank with an international ATM alliance, you could still incur an international ATM fee. For example, there’s a fee for using a Westpac travel card to withdraw from an ABSA ATM.

    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.


    • Financial freedom. Unlike a prepaid card or debit card that deducts from your savings, a line of credit could come in handy when making large or emergency purchases overseas.
    • Rewards. Some credit cards come linked with a frequent flyer or rewards program, meaning you can earn points as you spend. Some cards even offer bonus points for purchases overseas.
    • Extra features. Credit cards often come with extra features such as complimentary insurance and purchase protection. If you’re travelling overseas, you’ll need insurance anyway, so getting complimentary cover through your credit card could save you time and money.


    • Currency conversion fees. If you’re spending overseas with an Australian credit card, you’ll rack up currency conversion fees of around 3% per purchase. Look out for a credit card that doesn’t charge currency conversion or foreign transaction fees to keep your costs low.
    • ATM fees. Credit cards aren’t designed for ATM withdrawals, so you’re likely to incur a high cash advance fee when using your card for withdrawals overseas. You might also be charged a separate ATM withdrawal fee and local ATM fee depending on your card and the ATM you use.
    • Temptation to spend. Having access to a line of credit might give you a false sense of financial security that tempts you to make unnecessary purchases. Remember that you have to repay every purchase (plus interest, in most cases) charged to your card.

    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.


    • Withdraw funds. Unlike a credit card, debit cards are designed for ATM withdrawals and won’t charge you a high cash advance fee. Unlike Australian banks, South African ATMs don’t charge you a local ATM fee.
    • Access your own funds. A line of credit can be good financial security, but accessing your own funds in your debit card gives you a more realistic idea of how you need to manage your travel budget.
    • Travel-friendly debit cards. While some Australian debit cards will incur currency conversion and foreign transaction fees, others are designed for overseas use and will avoid these costs.


    • ATM withdrawal costs. While you won’t be charged a cash advance fee, you might be charged overseas ATM withdrawal costs. To avoid these costs, look out for cards that belong to an ATM alliance that won’t charge you when making withdrawals overseas.
    • Currency conversion fees. If your card isn’t designed for overseas use, you’ll collect currency conversion fees when you spend or withdraw money in a foreign currency.

    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.

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    The South African rand

    South African banknotes come in denominations of 10 rand, 20 rand, 50 rand, 100 rand, 200 rand. The coins available are 1 rand, 2 rand and 5 rand.  1R, 2R, 5R. 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:

    • ABSA
    • Nedbank
    • FNB
    • Standard Bank
    • Bidvest
    • Capitec

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

    Unlike banks in Australia, 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.

    • Australian alliances with South African banks
      Westpac has a partnership with South African bank ABSA. ABSA is one of South Africa’s big four banks. You can withdraw your money for free if you hold a Westpac, St.George, Bank of Melbourne or BankSA product and withdraw from an ABSA ATM. The only additional charge is the currency conversion fee (if applicable). ABSA branches can be found in all South African provinces and cities. Be wary of third-party ATMs though, as you’ll pay to withdraw from these machines.
    • 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 Australia 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 from foreign currency exchange business like Travelex or OzForex 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.
    • Which product gives you the best rate?
      Unless you’re transferring massive amounts of money, the difference in foreign exchange rates between credit cards, debit cards and travel cards is negligible. The real savings come by avoiding international and local ATM fees. Since South African banks don’t charge ATM fees, concentrate on avoiding the card provider’s international ATM fee to save money in South Africa.
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    Finding travel insurance for South Africa

    Travel insurance is a must-have for any overseas journey, especially in South Africa. A comprehensive travel insurance policy is essential and the minimum cover you need for your trip.

    Some credit cards offer complimentary international travel insurance when the cost of a ticket is charged to the account, but these policies have a number of exclusions. General insurance will cover you for medical costs but not cover specific types of activities with an inherent degree of risk. You’ll need extra cover for adventure activities such as rock climbing, abseiling and certain water activities like rafting. Compare travel insurance before you leave Australia and apply for a policy that will cover you for general misadventure as well as specific activities.

    Travel insurance can cover you for:

          • Lost and stolen items such as cameras, luggage or jewellery
          • The cost of replacing lost or stolen travel documents
          • Overseas emergency medical expenses
          • Injury resulting from specific activities

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    Frequently asked questions

    What are the business hours for South African banks?

    Generally, banks in South Africa have similar hours to banks in Australia. 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 cardNo international ATM fee debit cardTravel cardNo currency conversion fee credit cardNo international ATM fee credit card
    $300 purchase$300309$300$300$306
    $300 withdrawal$305309$302$311$306


    • 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
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    This page was last modified on 19 April 2016 at 12:01.

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