Retailers Must Accept R200 Notes as Legal Tender, Confirms South African Reserve Bank (SARB)

The South African Reserve Bank (SARB) has issued a statement reaffirming that the R200 banknotes are safe to accept as payments. This clarification comes in response to reports of certain retailers declining R200 notes.

Pearl Kgalegi, SARB’s head of currency, emphasised that both the newly issued currency and older notes featuring the portrait of Nelson Mandela are valid and legally accepted forms of payment. She further assured the public that the bank has advanced security features that make it challenging for counterfeit notes to circulate.

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Kgalegi pointed out that the SARB temporarily withdrew the R200 note from circulation in 2010 due to increased counterfeit versions. Consumers were encouraged to exchange their R200 notes at local commercial banks or directly with the SARB during this period.

She emphasised that there is no risk in accepting R200 notes as payment. To address concerns in specific areas, SARB representatives will visit cities, including Benoni and neighbouring places in the East Rand, to educate retailers and cashiers on recognising the authenticity of these notes.

Individuals who possess R200 notes and worry about acceptance are encouraged to visit their banking outlets and request a swap. For additional information or assistance, the public can contact the SARB at 0861 127 272 or visit their website at www.southafricanreservebank.co.za.

Source: R200 notes are safe to accept as payment

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Picture: X / Draper_ZA

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