An email has been doing the rounds, urging South Africans to exchange all R200 notes before 01 June 2010, as no R200 note will be accepted thereafter. According to the email the bank will apparently exchange R200 notes up to the amount of R5000 only. If you are stashing away more cash than this, you’ll have to go straight to the Reserve Bank and deal with the big dudes.
This email has achieved what is was set out to do:
Create confusion and spread panic.
The truth is this: Only the old series R200 notes are being recalled. The reason why the Reserve Bank is doing away with the old R200 note (produced between 1994 and late 2004) is due to the fact that it’s quite easy to fake and reproduce these old notes because of the outdated technology that was used when they were created back in the day.
The new R200 notes are perfectly acceptable and no organisation or business has the right to refuse them.