16. Acceptance of Foreign Banknotes and Foreign Currency Travellers Cheques

Travel agents, hotels, restaurants, shops and other persons whose business is directly related to the tourist industry may apply to an Authorised Dealer for permission to accept foreign banknotes and foreign currency travellers cheques from visitors to South Africa in payment of goods supplied and services rendered. A written undertaking that such foreign currency will be sold to an Authorised Dealer and/or an ADLA not later than the following business day after acquisition thereof must be presented to the Authorised Dealer. A record of all transactions must be kept and be available for inspection by the Financial Surveillance Department.

The authorised parties may not exchange currency offered by foreign tourists or any other party for Rand or any other currency without an underlying sale of goods and/or services rendered.