Best place to exchange some pounds sterling

[Cicero]

I've been sent 50 pounds as a gift. Anyone know the best place/way to exchange it into rands?

I want to minimise the costs involved.

 

[wezzcoetzee]

Find someone going to England and use the exchange rate, or even abit less, done it a few times before. Both people score that way.

 

[Cicero]

Find someone going to England and use the exchange rate, or even abit less, done it a few times before. Both people score that way.

Yeah, I think its illegal but probably the best way. I just dont really know anyone going over anytime soon.

 

[wezzcoetzee]

I know someone who did it through Bidorbuy as well, he bought dollars before going overseas... I did hear it's illegal, but I'm not sure to be completely honest.

 

[desiganp]

In what form did you get the gift? Cash? If so you might have a hard time cashing it at a Forex place as they will ask proof of your trip to the UK. Not sure if there are exceptions to this rule though.

 

[Alton Turner Blackwood]

I know someone who did it through Bidorbuy as well, he bought dollars before going overseas... I did hear it's illegal, but I'm not sure to be completely honest.

You're not sure about what? Buying or selling foreign currency is illegal in South Africa, unless you're an authorised/registered dealer in currency.

Having said that, its very difficult to enforce so there's always a black market for trading one currency for another

 

[Rocket Raccoon]

Buying or selling foreign currency is illegal in South Africa, unless you're an authorised/registered dealer in currency.

Learned something new.

 

[Alton Turner Blackwood]

Learned something new.

Yup, but you really need to be extremely dense to get caught.

For example advertising on a public forum that you have pounds to exchange, while the Hawks are making plans for a sting operation