The South African banking sector is known to be well organised and you will find major sa banks in the major cities and towns, including Durban, Johannesburg, Pretoria and Cape Town. You will also be able to bank with vibrant African commercial banks that are most competitive when it comes to interest rates as well as banking costs.
South Africa is a very popular tourist destination where tourists can experience value for money each time they visit the Rainbow Nation. South African commercial banks are able to offer exchange rates that are most favourable when it comes to many international currencies.
It does not matter whether you want to exchange a dollar for a rand, a rand for a dollar, pounds to rand or rand to the Australian dollar, you can do this with ease. To make things a little easier, all transactions are usually rounded to the nearest 5c and there is no shortage of bureaux de change outlets or ATMs (automatic teller machines).
To make sure that every bank does function according to stipulated rules and regulations, sa banks are registered with The Banking Association South Africa. This industry body represents both international as well as South African banks.
Here is a list of locally controlled banks in South Africa:
- Bidvest Bank Limited
- Investec Bank Limited
- Standard Bank of South Africa
- African Bank
- Imperial Bank South Africa
- FirstRand Bank
- Capitec Bank Limited
- Sasfin Bank Limited
- Grindrod Limited
- Teba Bank Limited
Here is a list of banks located in South Africa but foreign controlled:
- South African Bank of Athens Limited
- Absa Bank Limited
- Habib Bank Overseas Bank Limited
- Mercantile Bank Limited
- Albaraka Bank Limited
- Habib Bank AG Zurich
Branches of foreign banks include:
- Bank of China
- Citibank N.A.
- Bank of Baroda
- Bank or Taiwan
- Royal Bank of Scotland