changing money

[Pat53]

Please can anyone advise me if its better to change currency in the UK or in South Africa, where I am visiting shortly......

Thanks Pat

[gary baldy]

I think as always its best to get some Rand to tide you over and take travellers cheques. the exchange rate is still very good and things are very cheap over there. We went on our honeymoon, took half cash, half cheques -lived like kings for two weeks and bought back most of the travellers cheques!! An incredible country - where you going if you dont mind me asking?

[dzug]

In most places these days you are better off using plastic - credit card for purchases, debit card for cash from an ATM.

If you are going somewhere remote get the cash before you head there.

[Pat53]

Thanks for the answers - very useful.

I am going to Cape Town - really looking forward to it.

[gary baldy]

You'll have a great time - very jealous.

[Pat53]

Thanks Gary - I will give you a full report when I get back early in the New Year!!

[Pinotage]

I wouldn't bother with travellers cheques. Use ATM machines for cash. Almost everywhere takes credit cards -- except petrol stations. If you rent a car you'll need cash for fuel.

You can change pounds at the airport. There is a branch in the arrivals hall at Cape Town you can change while waiting for your bags to appear. But they are a bit slow and if there is a long queue don't wait there because there are banks in the airport straight ahead as you come out of customs. I don't bother changing money in the UK -- wait till you get to SA.

I go every year, was there 5 weeks Sep/Oct this year.

[gary baldy]

Sounds about right Pinotage - we had trouble spending our cash - like you said petrol, the odd cab, tips etc. Hardly touched the TC's. Must be a hard life going every year for 5 weeks?

[jno]

I usually pay for things abroad with credit cards, for the convenience, but be aware that their exchange rates are generally worse than the ones you get at banks, so it'll cost you more. (Ring your credit card company and ask them what rate they are exchanging rand for today, then ring, say, Travelex and ask for their current rates, including their commission, and see how much difference there is; it may not be huge.)

[dzug]

My experience with using credit cards is that they offer significantly better exchange rates than the banks.

A CC will charge the interbank rate, sometimes plus 1%, and add 2.75% commission to it. (Except Nationwide, which doesn't add anything).

A bank will charge the tourist rate, which is always significantly worse than the interbank rate - I've seen figures of 5% mentioned. Additionally they may charge commission.

Don't unless you absolutely have to get cash on a credit card - there's another 2% plus interest gone there.

[Pat53]

Thanks to everyone for their advice - all much appreciated.

I am off this week!!

Best wishes

Pat

[Dassie]

Hi, will be following you to CPT at end of December. Get some cash ( �100 = about ZAR 1030 ) and use a Debit card for paying the rest and to draw cash from the ATM over there. Nationwide especially give you close to the commercial exchange rate whilst you will only get tourist rate at the banks.