Reserve Bank wants R200 notes
Cape Town - The Reserve Bank has called on all South Africans to hand in all old R200 notes to commercial banks by the end of May.
Reserve Bank spokesperson Samantha Henkeman said there are too many counterfeit R200 notes in circulation and the Reserve Bank wants to remove these notes from use.
Businesses in rural areas are reportedly unhappy with this decision, especially as there are no Reserve Bank branches near people in smaller towns.
The decision about the R200 notes was announced by the Reserve Bank on April 21.
First National Bank spokesperson Kirsten Edwards confirmed they would accept the notes after May 31 and hand them over to the Reserve Bank.
Absa spokesperson Deon Oosthuizen said his bank was obliged to accept the old R200 notes after the end of May.
"It is still legal currency."
George Chirwa, head of Nedbank's self-help bank service, said Nedbank would comply with the May 31 deadline.