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Coin deposits at commercial bank branch tellers
When coins are deposited at a commercial bank, such deposits must follow the South African Reserve Bank’s (SARB) standards for coin deposits, as outlined in the tables below.
Coins must be separated per denomination and series and packaged in the mini plastic coin bags available at commercial banks.
A denomination of a coin refers to its face value, representing the monetary value assigned to it by the issuing authority (the SARB).
A coin series refers to the different versions of the coin.
For example, the third decimal coin series (3D) refers to the older coin series that was minted between 1989 and 2022, and the fourth decimal coin series (4D) refers to the coin series, with new designs, that was launched in May 2023.
Commercial banks will not process coin deposits that are not presented according to the SARB standards for coin deposits.
SARB packing standards for coin deposits at commercial bank branch tellers
When coins are presented for depositing at a bank branch teller, note that the coins should be packaged by denomination as well as by series, according to the standards set out in the tables below.
| SARB standards for branch teller coin deposits: Sachet and mini coin bags |
||
|---|---|---|
| Denomination per coin series | Sachet coin value per bag | Value per mini coin plastic bag (to be provided by the commercial banks) |
1c |
R1.00 |
R1.00 |
2c |
R2.00 |
R2.00 |
5c |
R5.00 |
R5.00 |
10c (3D, 4D) |
R10.00 |
R10.00 |
20c (3D, 4D) |
R10.00 |
R10.00 |
50c (3D, 4D) |
R10.00 |
R10.00 |
R1 (3D, 4D) |
R20.00 |
R20.00 |
R2 (3D, 4D) |
R50.00 |
R50.00 |
R5 (2D, 3D, 4D) |
R100.00 |
R100.00 |
| SARB standards for branch teller coin deposits: Bulk bags |
||
|---|---|---|
| Denomination per coin series | Number of coins per bag (This is important to ensure that the correct limits are adhered to) | Bulk coin value per bag |
1c |
2 000 |
R20.00 |
2c |
1 000 |
R20.00 |
5c |
800 |
R40.00 |
10c (3D, 4D) |
2 000 |
R200.00 |
20c (3D, 4D) |
1 000 |
R200.00 |
50c (3D, 4D) |
800 |
R400.00 |
R1 (3D, 4D) |
1 000 |
R1 000.00 |
R2 (3D, 4D) |
500 |
R1 000.00 |
R5 (2D, 3D, 4D) |
400 |
R2 000.00 |
Coin deposit limits at commercial bank branch tellers
When coins are presented for depositing at a commercial bank branch teller, the coins should be packaged and presented according to the SARB standards.
Coin deposit values at commercial bank branches are limited to the values below per day:
| SARB standards for branch teller coin deposits: Bulk bags |
|||
|---|---|---|---|
| Customer type | Coin deposit format | Coin deposit channel | Coin deposit limit acceptance amounts |
Bank customer depositing into own customer account |
|
Branch teller – sorted and packaged by customer
|
|
|
Branch teller ‒ cash-in-transit deliveries to branches |
|
|
Third-party payments into banks’ customer accounts
|
|
Branch teller – sorted and packaged by customer |
|
|
Branch teller ‒cash-in-transit deliveries to branches |
|
|
The coin deposit limits mentioned for branch tellers apply to deposits made by commercial banks’ own customers or third parties paying into the banks’ customer accounts.
Commercial banks are under no obligation to accept or exchange coins for individuals who have not undergone the Know Your Customer (KYC) vetting process as their own customers.
