Retailers refuse to accept old bank notes

Certain retailers are refusing to accept old bank notes withdrawn from ATMs.

A Randburg resident who wished to remain anonymous went to a shop in Northgate Shopping Centre. When she took out an old R200 note to pay for the goods, the cashier refused to accept the old note.

“I withdrew money from an ATM inside the shopping centre and received the old bank notes. With me in the shop was another customer who also had an old R200 note which the cashier refused to accept as well,” she said.

According to the woman the shop apparently received an email from First National Bank (FNB) which stated that the financial institution no longer accepted old R200 notes, so the shop should not accept them.

FNB Spokesperson Steve Higgins insisted that the email was not sent by them and that the old bank notes could still be used.

“The old R200 notes [post-2005] remain legal tender for goods and services. FNB treats these notes in the same way as any South African banknote. Customers will receive full value for the old series R200 notes and there is no reason for retailers to decline payment from customers presenting these notes,” he said.

“[However] customers presenting much older R200 notes to FNB [pre-2005] will be requested to exchange these at a South African Reserve Bank office.”