Where to exchange money in Cape Town
Are you heading to Cape Town? You will want to ensure you are aware of the local currency and how to obtain it. In addition, you may want to keep track of the current exchange rates and where to change your money to the local currency without getting ripped off.
We will give you a list of the best currency exchanges in Cape Town that you can visit in person.
There is also a digital alternative to consider by using Wise. This could save you both time and money.
Currency exchanges in Cape Town
If you have a need to use cash, here are some recommendations to exchange foreign currency in Cape Town.
Just remember, there's no such thing as completely free or 0% commission when exchanging money. Always check the mid-market exchange rate beforehand so you know the real value of your money.
| Money Changer | Address | Contact Information |
|---|---|---|
| Currencies Direct South Africa | Suite 1405 14th, Portside Tower, 4 Bree St, Cape Town City Centre, Cape Town, 8001, South Africa | +27 21 418 0105 |
| Inter Africa Bureau de Change | 196 Long St, Cape Town City Centre, Cape Town, 8000, South Africa | +27 21 421 5360 |
| Travelex | Shop 181, Entrance 3, Century City, Cape Town, 8000, South Africa | +27 21 555 3255 |
| Currency Partners | 3rd Floor, The Terraces, 25 Protea Rd, Claremont, Cape Town, 7806, South Africa | +27 21 203 0081 |
| Domisa Treasury | Unit B13, 1 Westlake Dr, Tokai, Cape Town, 7945, South Africa | +27 21 205 1980 |
| Travelex Green Market Square | Shop 5, Protea Assurance Building, 140 Longmarket St, Cape Town City Centre, Cape Town, 8000, South Africa | +27 21 426 5310 |
| Travelex | Shop E27, Blaauwberg Rd, Table View, Cape Town, 7439, South Africa | +27 21 557 4742 |
| Sable International: Cape Town office | Regent Square, Doncaster Road, Kenilworth, Cape Town, 7708, South Africa | +27 21 657 2120 |
| Tower Bureau de Change - Cape Town (St Georges Mall) | Ground Floor, JDN House, 26A Shortmarket St, Cape Town City Centre, Cape Town, 8000, South Africa | +27 21 422 1643 |
| Rennies Foreign Exchange Century City | Lower Level Canal Walk, Century City 7446, Century City, Cape Town, 7441, South Africa | +27 21 555 2155 |
South African rand rate today
The accepted currency in Cape Town and across South Africa is the South African rand.
However, when you visit a currency exchange, you'll find that they use currency codes. Specifically, the currency code for the South African rand is ZAR. Keep an eye out for this code if you're comparing exchange rates.
What you should know about exchanging money in Cape Town
Before exchanging money in Cape Town or any foreign city, it's important to be informed to avoid excessive charges and get the best deals. Consider opening a bank account in South Africa for long-term stays or substantial investments like buying property or cars.
1. Beware of 'zero fee' services
Services claiming 'no commission' often offer poor exchange rates, not reflecting the mid-market rate, leading to hidden profits for them.
2. Check the exchange rate beforehand
Familiarize yourself with the base rate to identify a bad deal from exchange services.
3. Avoid exchanging money at airports or hotels
Convenience comes at a price, as airports and hotels usually offer poor rates and high transaction fees.
4. Use ATMs strategically
Check if your home bank has partnerships in South Africa banks to avoid extra ATM fees, and inform your bank before traveling.
5. Opt for local currency
When using an ATM abroad, choose to be charged in South African rand for a fairer rate and avoid undisclosed exchange rates and additional fees.
Consider an alternative to physical currency exchanges
Say goodbye to overcomplicated currency exchange. Wise can help you get a better deal on currency conversion in over 40 currencies, with the mid-market exchange rate and low fees.
Open a personal Wise account online or in the Wise app, and order a linked debit card for a one-time fee to spend and withdraw money in 150+ countries.
There’s no fee to spend any currency you hold, and no foreign transaction fee to worry about. Use your account when you travel or shop online in foreign currencies, send payments in 70+ currencies, and get your own local bank details in 9 currencies.
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Other currency exchanges
Bottom line
From the list above you should have plenty of options for finding a physical currency exchange in Cape Town. If you'd like more options, try searching on a search engine like Google.Finally, don't forget to check out Wise - The digital alternative to exchanging and spending cash abroad.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payment Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.