The unit of currency is the Rand.
R200; R100; R50; R20; R10; R5; R2; R1; 50c; 20c; 10c; 5c.
Branches of most major banks can be found in East London at the Hemingways Mall, Vincent Park Shopping Centre, Beacon Bay Retail Park, in the CBD or at the Mdantsane Mall and in King William’s Town.
When travelling to the resorts East or West of East London we advise that you do your banking in East London or King William’s Town, as there are no banks in the small resort towns.
Foreign Exchange facilities can be found at most major commercial bank outlets.
The Eastern Cape provides ATM'S almost everywhere. We also have a wide range of different banks such as Nedbank, ABSA, Standard Bank and First National Bank. Each of these banks also offers Internet Banking to all of its clients. Most banks are open Mondays to Fridays from 09h00 to 15h30 and on Saturdays from 08h30 to 11h00. In smaller towns banks are usually closed between 13h00 and 14h00.
Value-added-tax (VAT) is included in nearly all goods and services, meals, accommodation etc. Foreign tourists can claim the 14% VAT back provided that the value exceeds R250.00. VAT is refunded at the point of departure provided receipts are produced.
The currency unit of South Africa (Eastern Cape) is the Rand, denoted by the symbol R (one hundred cents makes up R1). Foreign currency can be exchanged at local banks, Bureaux de Changes, American Express, Thomas Cook, Rennies or Diners Club International offces. International credit cards such as American Express, Diners Club, MasterCard and Visa are widely accepted nation wide.