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. 

Recent Articles

Featured It’s possible to change your marriage regime

Many people wed before they sign an antenuptial contract (ANC). This is especially practiced by people in customary marriages and those not clued up about the ANC. The law says if there’s no ANC before the wedding takes place, the marriage will automatically be in Community of Property. 

Keep this in mind when taking out new financial products

Adding a product to your personal finance portfolio, such as insurance or an investment, is a big decision. We found out what you should keep in mind before taking out a new product, how you can assess the products you already have, and how you can generally improve your financial position.

Are you in debt denial?

With debt levels increasing at 13% more than income levels, South Africans are more debt-stressed now than arguably ever before. This is iterated by the National Credit Regulator’s (NCR) report that nearly half of credit-active consumers in South Africa have damaged credit records. However, only a few seek the necessary help.

Why should you invest in a mutual bank?

Often when people think about banking, they always think about commercial banks. Mutual banks hardly come to mind, but these banks offer investment opportunities that are often overlooked.

 

Deals

Aurora Spa 100-minute Treatment Special

Price: R449
When: Until 31 March
Where: Century City

Woodstock Grill and Tap Steak Thursdays

Price: R100
When: Thursdays
Where: Woodstock

KFC 5+5 Special

Price: R65
When: Until 25 February 2020
Where: Nationwide