Commercial banks to exchange banknotes

Thursday, December 21, 2017

The South African Reserve Bank (SARB) has released the list of commercial bank branches that will be able to exchange mutilated banknotes and those that have been withdrawn from circulation.

From 1 January 2018, the public will no longer be able to exchange mutilated banknotes and banknotes withdrawn from circulation at the South African Reserve Bank (SARB) branches in Cape Town, Bloemfontein, Cape Town, East London, Johannesburg and Port Elizabeth.

These services will now be available at a selected number of commercial banks in these cities from 1 February 2018, said the central bank on Wednesday.

Members of the public will still be able to exchange banknotes at the SARB head office in Pretoria central or through two branches of ABSA.

Those wanting to sell Kruger Rands can still do so through the SARB head office in Pretoria. Alternatively, they can do so at authorised coin dealers, a list of which can be found at www.samint.co.za/collectable-coins/authorised-dealers.

Earlier this month the central bank announced that it would be closing its three branches to the public.

In August last year, Reserve Bank Governor Lesetja Kganyago announced developments in the bank’s cash management strategy and proposed changes in the bank’s operations.

The proposed changes are intended to improve efficiency, reduce risks and achieve the Reserve Bank’s 2020 strategy. The bank says the changes are essential if it is to meet its strategic objectives and ensure the long-term sustainability of its currency management function.

The public will now be able exchange their notes at the following branches:

Bank

Province

City

Address

FNB

Eastern Cape

East London

73 Oxford Street

FNB

Eastern Cape

Port Elizabeth

Shop 6 Greenacres Shopping Centre, Ring Road

FNB

Free State

Bloemfontein

41 Maitland Street

FNB

Gauteng

Johannesburg

63 Main Street, SA Eagle House

FNB

Kwa-Zulu Natal

Durban

320 West Street

FNB

Western Cape

Cape Town

82 Adderley Street

ABSA

Eastern Cape

East London

117 Oxford Street

ABSA

Eastern Cape

Port Elizabeth

51 Govan Mbeki Avenue

ABSA

Free State

Bloemfontein

64 Charlotte Maxeke Street

ABSA

Free State

Bloemfontein

10987 Moshoeshoe Street, Rocklands

ABSA

Gauteng

Pretoria

230 Lilian Ngoyi Street (After March 2018)

ABSA

Gauteng

Pretoria

Corner Andries & Pretorius Streets

ABSA

Gauteng

Johannesburg

30 Jeppe Street, Newtown

ABSA

KwaZulu-Natal

Durban

437 Smith Street

ABSA

Western Cape

Cape Town

Cnr Adderley & Riebeeck Streets

Standard Bank

Eastern Cape

East London

The Banking Mall, Retail Park, Beacon Bay

Standard Bank

Eastern Cape

Port Elizabeth

Greenacres Complex, Ring Road, Greenacres

Standard Bank

Free State

Bloemfontein

173 Nelson Mandela Drive, Brandwag

Standard Bank

Gauteng

Johannesburg

88 Commissioner street, Johannesburg

Standard Bank

Kwa-Zulu Natal

Durban

Shop 56, 300 Anton Lembede Street

Standard Bank

Western Cape

Cape Town

Thibault Square , Cnr Hans Strijdom and Long Street

Nedbank

Eastern Cape

East London

71 Oxford Street

Nedbank

Eastern Cape

Port Elizabeth

329 Cape Road, Newton Park

Nedbank

Free State

Bloemfontein

Cnr Kellner & Mellville Ave

-          SAnews.gov.za

 

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