Commercial banks to exchange banknotes
From 1 January 2018, the public will no longer be able to exchange mutilated banknotes and banknotes withdrawn from circulation at the South African Reserve Bank (SARB) branches.
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the list of commercial bank branches that will be able to exchange mutilated banknotes and those that have been withdrawn from circulation.
From 1 January 2018, the public will no longer be able to exchange mutilated banknotes and banknotes withdrawn from circulation at the South African Reserve Bank (SARB) branches in Durban, Cape Town, Bloemfontein, Cape Town, East London, Johannesburg and Port Elizabeth.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.
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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.
The public will now be able exchange their notes at the following branches:
FNB-Durban 320 West Street
ABSA-Durban 437 Smith Street
Standard Bank-Durban Shop 56, 300 Anton Lembede Street
