Page 1 of 2 12 LastLast
Results 1 to 10 of 15

Thread: Don't accept any R200 notes

  1. #1
    Platinum Member SilverNodashi's Avatar
    Join Date
    May 2007
    Location
    Johannesburg, South Africa
    Posts
    1,172
    Thanks
    11
    Thanked 188 Times in 136 Posts

    Don't accept any R200 notes

    Please note that the banks will not accept a R200 note from 01 June 2010.

    Exchange any R200 notes that you have before 31 May 2010.

    Do not except any R200 notes after 31 May 2010, you won’t be able to do anything with the R200 note. Customers can only exchange R200 notes at the branch up to R5000. If they have more, they need to go to the Reserve Bank directly. All R200 notes that customers have from 01/06/10, will have to be exchanged directly at the Reserve Bank.

    There's about R1 million rand's worth of R200 counterfeit notes circulating right now and it's recommended that any business refuse to accept a R200 note. I've seen a few shops recently, both in Eastgate & Greenstone with signs saying they won't accept R200 anymore.

    Please see the following references:
    http://www.iol.co.za/index.php?art_i...2526202C509736
    http://www.newstime.co.za/rs_headlines.asp?recid=5408
    http://news.iafrica.com/sa/2398465.htm
    Get superfast South African Hosting at WebHostingZone

  2. #2
    Platinum Member desA's Avatar
    Join Date
    Jan 2010
    Location
    South East Asia
    Posts
    1,023
    Thanks
    512
    Thanked 126 Times in 99 Posts
    Thanks for the good advice.
    In search of South African Technology Nuggets(R), for sale & trading in South East Asia.

  3. #3
    Gold Member twinscythe12332's Avatar
    Join Date
    Jan 2007
    Location
    durban
    Posts
    769
    Thanks
    12
    Thanked 110 Times in 84 Posts
    ar ATMs still letting people draw 200 rand notes?

  4. #4
    Silver Member
    Join Date
    Aug 2007
    Location
    Jhb
    Posts
    203
    Thanks
    6
    Thanked 38 Times in 28 Posts
    From what I understand at the moment, is that this only applies to the old R200 note, not the new one
    If you need any Accounting, Tax or even Financial Management advice, PM me and I'll try help and keep your information confidential.

    Visit my Android ZA website - a website dedicated to Google Android in South Africa - www.androidza.co.za

  5. #5
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,976
    Thanks
    3,055
    Thanked 2,462 Times in 2,067 Posts
    Blog Entries
    12
    Just how good are these counterfeits? It gets a bit scary when the banks are getting duped too.

    Makro has got a counterfeit note detector for around R300.00. According to the box, it highlights the UV sensitive print, the watermark and the metal strip. We don't handle much cash at all, but at that price I was tempted anyway.
    The trouble with opportunity is it normally comes dressed up as work.

  6. #6
    Diamond Member tec0's Avatar
    Join Date
    Jun 2009
    Location
    South Africa
    Posts
    4,270
    Thanks
    1,656
    Thanked 439 Times in 386 Posts
    Blog Entries
    3
    I share your concern; if counterfeit money is getting so good that notes have to be redesign in this day and age imagine how good counterfeit money will be in the very near future. Also with card cloning becoming a real problem, what will be considered as a safe transaction?

    I know that “new” Australian bank notes use special materials and printing equipment for their money.
    peace is a state of mind
    Disclaimer: everything written by me can be considered as fictional.

  7. #7
    Platinum Member SilverNodashi's Avatar
    Join Date
    May 2007
    Location
    Johannesburg, South Africa
    Posts
    1,172
    Thanks
    11
    Thanked 188 Times in 136 Posts
    I couldn't shop @ Fruit & Veg in Rustenburg with a R200 note that I got from the ATM around the corner. The garage where the ATM was didn't want to take it either....
    Get superfast South African Hosting at WebHostingZone

  8. #8
    Diamond Member adrianh's Avatar
    Join Date
    Mar 2010
    Location
    Cape Town
    Posts
    5,089
    Thanks
    336
    Thanked 808 Times in 642 Posts

    200 Notes

    The notes in question are legal tender till 12PM Mon 31 May. From then on they have to be returned to the reserve bank. The problem is that the shops don't want to be stuck with a wad of R200 notes on 1 June that they are obliged to return to the reserve bank. I think the best solution is to try and steer clear of cash for the next couple of days or to draw cash at the teller (This way you get to choose the denomination)

    BTW: The post office also doesn't accept R200 notes.
    How easily someone is offended is directly proportional to how stupid they are.
    ~GS Elevator

  9. #9
    Gold Member twinscythe12332's Avatar
    Join Date
    Jan 2007
    Location
    durban
    Posts
    769
    Thanks
    12
    Thanked 110 Times in 84 Posts
    the really terrible thing is that banks are still allowing 200 rand notes to be drawn. I got 2 the other day, and wasn't very impressed. however, they were accepted at specsavers...

  10. #10
    Silver Member
    Join Date
    Aug 2007
    Location
    Jhb
    Posts
    203
    Thanks
    6
    Thanked 38 Times in 28 Posts
    This only affects the old R200 notes ... the new one with the new coat of arms shouldn't be affected ... no reason for shops not to take them.
    If you need any Accounting, Tax or even Financial Management advice, PM me and I'll try help and keep your information confidential.

    Visit my Android ZA website - a website dedicated to Google Android in South Africa - www.androidza.co.za

Page 1 of 2 12 LastLast

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •