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South Africa Guide: Money

Our money guide provides information on bank accounts, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.
Banks:
Where to manage your finances
South Africa’s banking system is not only the most sophisticated in Africa (which isn’t necessarily saying much) but also the equal of that in many western countries. More...
Accounts:
How to open a bank account in South Africa
You can open a bank account in South Africa whether you’re a resident or a non-resident. It’s best to open a South African bank account in person, rather than from abroad. More...
Currency:
What is the currency used in South Africa?
The South African unit of currency is the rand (R), which is divided into 100 cents. More...
Obtaining Cash:
How to get cash for daily use
There are various methods of obtaining smaller amounts of money for everyday use. These include the following: More...
Importing & Exporting Money:
How to receive and transfer money
There are no exchange controls in South Africa but South African bank notes in excess of R5,000 (£435) per person aren’t allowed into the country unless you have the necessary permit from the South African Reserve Bank, 370, Church Street, Pretoria 0002 (write to PO Box 427, Pretoria 0001, Tel. 12-313 3911, www.reservebank.co.za). More...
Cost of Living:
What is the cost of living in South Africa?
No doubt you would like to try to estimate how far your rand will stretch and how much money (if any) you will have left after paying your bills. More...
Double-Taxation Treaties:
What countries have treaties with South Africa?
The following is the status in June 2004 of agreements to avoid double-taxation of income accruing to South African taxpayers from foreign sources and to foreign taxpayers from South African sources. More...
Income tax:
What you need to know about income tax in South Africa
Until 1st January 2001, a ‘source-based’ tax system was in use, meaning that tax was payable only on income from (or deemed to be from) a South African source. More...
Capital Gains Tax:
Who is liable to pay Capital Gains Tax in South Africa?
Capital gains tax (CGT) applies to the disposal of assets by the following: More...
Property Taxes:
All you need to know about property-related taxes
Property-related taxes include municipal rates (sometimes confusingly referred to as ‘property taxes’) and charges for refuse and sewerage, although the latter apply mainly to those in urban areas; there are no refuse or sewerage services in some rural areas! More...
Further Links about Money