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Never use a credit card if you can help it as they attract extra bank charges of up to 5%, exchange rates are not guaranteed, overspending is easy and a credit card if lost or stolne can take a minimum of 7 days to replace.
Drafts and Telegraphic Transfers could also be used to get money overseas. A draft is a cheque issued in a foreign currency. It can only be used in the name of the person travelling. A person will buy a draft if he/she has an overseas account and wishes to deposit the cheque into their banks account for travel purposes. A telegrahic transfer is a transfer between banks and can be used for land arrangemenst and travel allowance purposes.
Allowances R1 000 000.00 per person over the age of 18 years per calender year which can beused for travel, gift, study, maintenance and donations. The allowance for someone under 18 years is R200 000.00.
Allowances can be taken out in the following manner :
- 100% in foreign cash,
- 100% in travellers cheques,
- 100% in the form of drafts and telgraphic transfers,
- 100% on your credit card,
- 100% on your cash passport.
The following must be presented for the purchase :
- Airline ticket
- Proof of Address ( recent utility bill - no PO Box address )
Foreign exchange can only be purchased 60 days or less to departure.