Banking, Finance and Money

The Eastern Cape provides ATM’S almost everywhere. We also have a wide range of different banks such as Nedbank, ABSA, Standard Bank, First National Bank and Boland Bank. Each of these banks also offers Internet Banking to all of its clients. Most banks are open Mondays to Fridays from 09:00 to 15:30 and on Saturdays from 08:30 to 11:00. In smaller towns banks are usually closed between 13:00 and 14:00.
 
TAX
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.
 
Currency and Foreign ExchangeThe 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 offices. International credit cards such as American Express, Diners Club, MasterCard and Visa are widely accepted nation wide.