You have un­til the end of July to swap old R200 notes for new ones

Weekend Argus (Saturday Edition) - - PERSONAL FINANCE - NEESA MOOD­LEY-ISAACS

If you missed the dead­line of May 31 to ex­change your old R200 ban­knotes for new ones at the big four com­mer­cial banks (Absa, First Na­tional Bank, Ned­bank and Stan­dard Bank), the good news is that the dead­line has been ex­tended to July 31.

Af­ter that date, you will be able to ex­change old R200 notes – those printed be­tween 1994 and 2005 – only at a branch of the South African Re­serve Bank in Bloemfontein, Cape Town, Dur­ban, East London, Jo­han­nes­burg or Port El­iz­a­beth, or at the bank’s head­quar­ters in Pre­to­ria.

Old notes will not be ac­cepted by re­tail­ers or com­mer­cial banks af­ter July 31.

The Re­serve Bank says the de­ci­sion to re­move the pre-2005 R200 notes from cir­cu­la­tion was prompted by the high num­ber of counterfeit notes in cir­cu­la­tion.

Re­tail­ers are al­lowed to refuse to ac­cept the old R200 ban­knotes, but some re­tail­ers are also re­fus­ing to ac­cept the new R200 notes. If this hap­pens, you can re­port the re­tailer to the Re­serve Bank on 012 313 3575.

Some of the key fea­tures of the up­graded ban­knotes are:

Coat of arms. The South African coat of arms fea­tures promi­nently in the top left corner on the front of the ban­knote and in the irides­cent gold band on the back of the note and as a holo­graphic im­age in the sil­ver se­cu­rity thread.

Wa­ter­mark. The wa­ter­mark in­cludes the note’s nu­mer­i­cal value. The wa­ter­mark and the nu­mer­i­cal value are vis­i­ble when the note is held up to the light.

Win­dowed se­cu­rity thread. The sil­ver se­cu­rity thread is four mil­lime­tres wide on the new R200 note, whereas it is two mil­lime­tres on the old R200 note.

The words “SARB” and “rand” and the note’s nu­mer­i­cal value ap­pear in the thread when the note is held up to the light. The na­tional coat of ar ms ap­pears in the thread when the note is tilted.

Colour-chang­ing ink. The note’s nu­mer­i­cal value, in the bot­tom right on the front of the note, is printed in ink that changes colour from ma­genta to green when you tilt the note.

Di­a­mond shapes. There are five di­a­mond shapes with a raised feel on the front of the note to as­sist the blind. The old R200 note has dots in­stead of di­a­monds.

Gold band. This very prom­i­nent fea­ture is on the back of the note. When the note is tilted, the na­tional coat of arms and the ban­knote’s nu­mer­i­cal value ap­pear in the gold band.

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