Facts on South Africa’s R200 banknote recall
Submitted by Standard Bank Team on Thu, 2010/05/27 - 16:20
There’s been a lot of talk and inaccuracies spread around the recall of South Africa’s R200 currency note. To settle all queries and concerns, we have put together some facts and information to help you manage and understand the process better.
Here are the facts and processes
• The South African Reserve Bank (SARB) is taking all R200 that were issued before 2005 out of circulation.
• New series R200 notes remain valid tender and may not be refused by traders. Old series notes also remain legal tender but value for them can only be redeemed at the SARB branches after May 31
• Anyone who has old R200 notes on them should exchange them over the counter for new series notes at any commercial bank before close of business on Monday, 31 May 2010. There is no cost involved in exchanging the notes this way. People do not have to be a customer of the bank to do an exchange.
• From 1 June, old notes may be exchanged only at South African Reserve Bank branches or at its headquarters in Pretoria. Again, there is no charge for this exchange.
Please note: Standard Bank’s ATMs issue only new series R200 notes.
Identifying the old and new
You can easily identify new series notes from the old by looking for some of the key features of South Africa’s new banknotes.
• Banknote paper: The special quality of banknote paper and the raised print give it a distinct feel. Unlike normal paper, banknotes have a distinct crackling sound when handled.
• Coat of arms: The South African coat of arms is used prominently in the front top left corner, in the gold shimmering band on the back, and in the silver shining strip in the security thread of the R200 banknotes.
• Watermark: The watermark includes the note’s value number. When the banknote is held up to the light the watermark and the value number are visible.
• Windowed security thread: On the R200 banknotes the silver shining strip security thread is 4mm wide. The words SARB, RAND and the note’s value number appear when held up to the light and a Coat of Arms appears in the thread when tilted.
• Colour-changing ink: On the R200 banknotes, the note’s value number on the front bottom right is printed in ink that changes colour when you tilt the note.
• Diamond shapes: There are five diamond shapes with a raised feel on the front of the R200 banknote that assist the blind.
• Gold shimmering band: This is a very prominent feature, in a gold colour on the back of all banknotes. When tilted, the coat of arms and the banknote’s value number appear.
The South African Reserve Bank has offices in the following locations:
• Bloemfontein; 1 Hamelberg Street, Hoffman Square, Bloemfontein (051 403 1500)
• Cape Town ; 25 Burg Street, Cape Town (021 481 6700)
• Durban; 8 Dr AB Xumu Street, Durban (031 310 9300)
• East London; 69 Union Street, East London (043 707 3400)
• Johannesburg; 57 Ntemi Piliso Street, Johannesburg (011 240 0700)
• Port Elizabeth; Market Square North Union Street, Port Elizabeth (041 501 6600)
• Pretoria Branch; 460 Jan van Riebeeck Street, Pretoria North (012 521 7700)
• The Reserve Bank head office; 370 Church Street, Pretoria (012 313 3911).
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Why are the notes being recalled?
Why are the notes being recalled?
Fraudulent notes from Standard Bank ATMs
The information you published was great, but too little too late. Also there were inaccuracies, as you claim that you only issue new R200 notes and yet it was published that on May 11, fraudulent notes were issued from the Constantia branch ATM amongst genuine ones. I realise that you are trying not to create a scare, but please be careful what you say.
Thanks
Please include an image
Hi
Thank you for for telling us exactly what happened to the R200 note.
If you could post a photo of the old and the new It would make explaining the differences a lot easier. After reading All the technical details i still don't know what the difference is.
Dwain
NON ACCEPTANCE OF NEW R200 NOTES
SterKinekor at Gateway absolutely refused my new R200 note yesterday. Unfortunately the manager was not available to complain to. There were other people there who backed me up but to no avail. This is most embarrassing.
Thanks for leaving your comments.
Thank you for taking the time to leave your comments.
Unfortunately there were a lot of issues that needed to be clarified by the South African Reserve Bank. Our post was written after changes were made by the Reserve Bank on 27 May. We stopped putting R200 notes in our ATMs from 21 May.
Here is a poster published by the South African Reserve Bank that illustrates the features of the new series of banknotes. Please visit www.reservebank.co.za for further info.
All R200 notes are being refused (new and old)
It looks like merchants are using this as an excuse to refuse all R200 notes, including the new notes, even though they are legal tender. Is there a way of reporting these non-compliant merchants to the Reserve Bank, or to a government department?
@Shirley: complain about Ster Kinekor on HelloPeter.com.
There were still R200 notes on 29 May
It is not true that you stopped putting R200 notes from 21 May. This is because when I was withdrawing money from an ATM in Empangeni on 29 May, R200 notes cam out.
Thanks for the clarity,
Thanks for the clarity, but this doesn't help us as customers of Standard Bank, because a number of places are refusing to take any R200 notes, and I think for customer`s benefit Standard Bank should stop issuing any R200 notes,
On 20/21 May I withdrew money and received the R200 (total R400) notes from the ATM and went to pay for my car`s license and they refused to take the money. I had to go to buy something at checkers in order to get a money that I can use.
I have also since spoken to a couple of people from other banks and most of them don't discharge R200 notes from their ATMs, so I really think Standard Bank should think about the inconvenience that is brought on to their customers at the moment and just stop issuing these R200 notes, until the whole thing is better understood by everyone.
As Per Usual
It's soooo nice to see you give everyone enough warning about this sort of thing. NOT!!!!!!!
Typical SA nonsense!?
FNB REFUSED MY R200 WITHDRAWN FROM STD BANK ATM
I just went to deposit money at FNB, and they refused my R200 that I had withdrawn at an ATM at Pollyshorts in PMB.
What should I do now?
R200 notes in ATM's
I drew money on 31/05/2010 from the Standard Bank ATM at River Square, Vereeniging and was given only R200 notes. Regardless of what the Banks or the Reserve Bank say, the fact remains that merchants do not want to accept R200 notes!!!
Commercial Banks aren't exchanging Old Series R200 Notes
From yesterday (1 June) commercial banks are not exchanging old-series R200 notes. Notes have to be exchanged only at South Africa Reserve Bank (SARB) branches or the head office in Pretoria. Standard Bank is not reloading R200 notes into ATMs until retailers start to follow SARB instructions to not decline new-series R200 notes.
OLD R200 NOTES STILL ON HAND
I am unable to go to any Reserve Bank, Can I post my note to a Reserve Bank by registered mail and in turn deposit the money into my bank. I am an invalid and do not drive a car.
Please contact the Reserve Bank for more info
You need to call your nearest South Africa Reserve Bank branch to discuss options available to you. See www.reservebank.co.za for more info or call 012 313 4944
Vendors not accepting notes
I am aware that the R200 notes are not being accepted, but has this been extended to the R10, R20, R50 and R100 notes as well???
I had an experience this morning (18/06) where i wanted to purchase an item, and the vendor told me that he wouldn't accept the R50 note as it has the old signature on it (former Reserve Bank President Tito Mboweni)....
I don't understand why he wouldn't accept it, because as far as i know, it is ONLY the old R200 notes which are being recalled out of circulation
Thanks
R50 notes still remain legal tender
Yes, you are right. No other notes are part of the recall and remain legal tender.
Please identify
Under your heading "Identifying the old and the new" you go on to explain the R200 note in detail. Are you explaining the "old" or the "new" note?
I have R200 notes
I have four old R200 notes. What should I do?
R200.00 Notes
I have been saving up since the start of the year,I have about 4 thousand worth of 200 rand notes.I dont know what to do with them as they might not work anymore,I need assistance.
Hi Monica
We are explaining the new R200 notes.
What to do with your R200 bank notes
The South African Reserve Bank has decided that commercial banks may continue to accept old series R200 notes until 31 July 2010. After that date these old notes may be exchanged only at South African Reserve Bank branches.
The only other change to this process is that exchanges of old series notes of over R10 000 must be done at a person’s own bank or at the Reserve Bank. This means that you have to have a Standard Bank account to exchange notes at Standard Bank. The notes have to be deposited into an account and normal cash deposit fees will apply. Alternatively, customers may exchange the notes at no cost at the Reserve Bank.
See our previous post for more, bearing in mind the change of deadline to 31 July.
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