How to avoid getting ripped off in South Africa when it comes to withdrawing money.
While card payment is almost universally excepted in South Africa, cash can come in handy during load shedding or when bribing officials.
Absolutely try to avoid currency exchange, they will never give you a fair rate no matter if exchange office or at a bank. (Tell me if you had good experiences)
WARNING: If you have a non ZAR denominated card NEVER EVER agree to currency conversion (DCC) at the ATM, you will be ripped off merciless according to terms and conditions. (like a stupid 14% mark-up at CashExpress)
I just want to list the fees for my own and your reference. Let me know in the comments if fees are not up to date.
- R85.00 at CashExpress by ATM Solutions
- R50.00 at FNB (First National Bank)
- R50.00 at NED Bank
- R0.00 at Standard Bank
To be confimed: Capitec Bank