Guiding consumers since 2009

Reserve Bank calls for R200 note exchange

By Staff Writer
The South African Reserve Bank has asked citizens to check and exchange their R200 note in order to get rid of the high number of counterfeit notes which are currently in circulation.

The Bank is currently recalling all old-series R200 notes and people have until May 31 to exchange these at commercial banks, after the cut off date these notes can only be exchanged at the Reserve Bank.

Many businesses have stopped accepting old R200 notes and they will refuse to accept them until the fraudulent ones have been removed from circulation completely.

The new notes feature the signatures of former Reserve Bank governor Tito Mboweni as well as current governor Gill Marcus and these notes come with added security features.

"The South African public is encouraged to re-familiarise themselves with the security features on the South African bank notes and to examine them on receipt," Reserve Bank spokesperson Samantha Henkeman said.

"Do not feel embarrassed about holding a bank note up to the light. Look, feel and tilt the bank notes," Henkeman said.

If you have any notes (not just R200) lying around and you are unsure of their authenticity you have the right to request one that you feel comfortable with.

For more information visit www.reservebank.co.za and click on the know your money icon, then look for the A3 Info Sheet section and click on Page 2. 

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