R200 bank notes

za1 said:
oh please dude, before this came to light, you knew what to look for?
plus I really don't think you in the same league of volume of notes, but don't worry about it......all is good, none were fake.
and yeh, I don't sit examining every note, first time was today!
Click to expand...

Yes, I do know what to look for. I am in charge of accepting cash here at our company, so I made sure that I know what to look for. Didn't you? Why not?
I often have to take in ten or twenty grand in cash notes... and yes... I check every single one of them for multiple signs.
If a fake note gets through... guess who loses out? I'm not gonna let that happen.
You snooze you lose.
 
bwana said:
Banks will only accept the old R200 note until the end of May after that they can be exchanged at a branch of the reserve bank.
Click to expand...

EDIT: The below is WRONG! Do not believe me!!! It seems that you won't be able to deposit R200 notes after the 31st of May 2010.

Original WRONG post:
Not 100% true. Banks will still accept the old R200 notes, but only as deposits. You won't be able to exchange them for new R200 notes at Banks after the 31st of May.

If you want to exchange them for new ones after the 31st of May, then you will have to go to the reserve bank. But you will still be able to deposit them at a normal bank.

EDIT: The above is WRONG! Do not believe me!!! It seems that you won't be able to deposit R200 notes after the 31st of May 2010.
 
Last edited:
I couldn't shop @ Fruit & Veg in Rustenburg with a R200 note that I got from the ATM around the corner. The garage where the ATM was didn't want to take it either....

And this was with the new R200 note. So I ended up having to drive to the bank and exchange it for 2x R100 notes
 
This is damn scary, the fact that a bank deployed these fakes without knowing it.. kind of makes me really wonder how much has done the rounds thus far.. wow..
You say they should have used smaller notes ? I say hit big, hit once - and coin it (they where obviously confident in their product) and rightly so..
 
Anthropoid said:
This is damn scary, the fact that a bank deployed these fakes without knowing it.. kind of makes me really wonder how much has done the rounds thus far.. wow..
You say they should have used smaller notes ? I say hit big, hit once - and coin it (they where obviously confident in their product) and rightly so..
Click to expand...

When did the bank deploy fakes notes?
 
Apparently on the fake notes the silver band is not threaded through the notes - and if you fold the note the silver band will lift off the note.

Pics of the notes and more info - http://www.capetalk.co.za/pages/counterfeit.asp

{ Cape Talk }
Hlengani Mathebula ( SARB ) admits there has been some confusion about the R200 notes. He says an e-mail that did the rounds last week, is responsible for the confusion. He re-iterated that retailers are not allowed to refuse R200 notes from clients. He says he's contacted the head offices of retailers such as Nando's and Woolworths to send directives to their stores that they cannot refuse R200 notes until the 31st of May. If you haven't made it to your bank to exchange your old notes before the 31st, people in possession of old R200 notes can still visit any SARB branch to exchange their old notes.
 
Garyvdh said:
There is nothing wrong with R200 notes. And most businesses and banks still accept them and will accept them after 31 may 2010.

Fake notes on the other hand are never acceptable. And due to a high influx of fake OLD R200 notes, banks will no longer accept them after 31 May 2010. The new R200 notes are still perfectly acceptable though.

Please get your facts straight.

The new R200 notes are LEGAL TENDER and a business cannot refuse to accept them unless they can prove that they are fake.
Click to expand...

What Gary said.
 
What happens if you have alot of "old" R200 notes stashed somewhere? Will they be useless after 31 May?
 
daveza said:
... He re-iterated that retailers are not allowed to refuse R200 notes from clients. He says he's contacted the head offices of retailers such as Nando's and Woolworths to send directives to their stores that they cannot refuse R200 notes until the 31st of May...
Click to expand...

and if they do refuse? What power does the reserve bank (or anyone else) have to force a business to accept cash (of any particular denomination)?
 
EtienneK said:
Not 100% true. Banks will still accept the old R200 notes, but only as deposits. You won't be able to exchange them for new R200 notes at Banks after the 31st of May.

If you want to exchange them for new ones after the 31st of May, then you will have to go to the reserve bank. But you will still be able to deposit them at a normal bank.
Click to expand...

Please ignore this post of mine. New info has just come out and it seems that the old R200 notes will not be valid from 1 June 2010.
 
http://www.reservebank.co.za/intern...07BB321A8BE072D42256C14004AEECE/?opendocument

Legal Tender

Legal tender refers to banknotes or coin that may be legally offered in payment of an obligation and that a creditor is obliged to accept.

Any amount in banknotes may be offered for payment. In the case of coin, the acceptable amount per individual transactions, is equal to the total amount, not exceeding the following:


fifty rand, where coin of the denomination of one rand or higher are so tendered;
five rand, where coin of denominations of ten cents up to and including fifty cents are so tendered;
fifty cents, where coin of the denomination of five cents or less are so tendered; and
the value of each coin so tendered shall be equal to the amount specified on that coin.
Click to expand...
 
So i go to check the safety deposit box to see if I had some of the notes, the que was crazy long!!
I wonder i the guys from SARS were there watching lol...
 
Chicken Boo said:
yes I know they're supposed to, but if they don't?
Click to expand...

Phone the police, report them to the better business bureau, phone 702, post it on facebook, make a web page denigrating them, Picket their store, etc.

Or you could just make sure you swap all your R200 notes at the bank and avoid any unpleasant situations.
 
FIFA World Cup 2010 Visitors - R200 Notes

I can just see this R200 notes issue being a major problem with tourists now arriving for the World Cup with R200 notes that they already had from previous visits or having bought foreign exchange from their home countries. My family arrived from the UK today with five of the old notes and no one would accept their money at OR Tambo Airport. On checking the Reserve Bank Website, they are asking for -

1. Positive Identification : ID/Passport document
2. Commercial bank account details
3. Source of Income / Origin of the funds
4. Proof of Residence (e.g electricity bill ;rates and water accounts;telephone accounts).

Where do tourists fit into the above?

They now have to go to the City Centre to try and exchange them and I can just imagine that it's not going to be easy for them - I may be wrong!
 
Pitbull said:
Bigger notes devalues your currency.
Click to expand...

Lol .. no, the total amount of currency value printed (or created via new loans), if excessive relative to economic production, devalues your currency --- it has nothing to do with denomination size.
 
I've seen these stupid R200 note signs all over the place now (refusing ALL R200 bills). I had a big argument with the lady at SAA Air Cargo when the customer in front of me tried to pay with one of the new R200 notes which are perfectly valid. I wish there was some place you could phone to complain. :mad:
 
daveza said:
http://www.reservebank.co.za/intern...07BB321A8BE072D42256C14004AEECE/?opendocument
Click to expand...

Except that works only for debt and not purchases. If you are in debt to them, i.e. they are your creditor they have to accept the R200 notes as legal tender for that debt. However, when you buy something, it's not yours until the transaction is completed -- you can't walk out of the shop with the item -- that's theft. They can refuse to complete the transaction for whatever reason - be it the R200 note you want to pay with - then they are not your creditor because you haven't incurred a debt with them. A shop may refuse any note or coin.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X