The Automated Teller Machine (ATM) offers bank customers a simple and convenient way to transact nationally 24 hours a day without going into the bank. The first two ATMs in South Africa launched in 1977 changed the way South Africans bank. Today, banks and independent ATM service providers continue to roll-out ATMs throughout the country to increase access to basic banking services for all citizens.
However, the large number and increased usage of ATM’s have made it possible for criminals to devise various scams such as card skimming, card swopping, ATM shoulder surfing and card trapping in ATM’s (using the ‘Lebanese’ loop).
TIPS TO AVOID BECOMING A VICTIM OF ATM FRAUD
- Use ATM’s where you feel the most comfortable.
- Be vigilant and avoid using the ATM where suspicious-looking individuals are loitering.
- Have your card ready in your hand before you approach the ATM.
- Do not use the ATM if it appears to be tampered with or damaged.
- Do not accept help from strangers at an ATM, especially when you experience difficulty with the transaction and do not allow anyone to distract you.
- Shield the ATM keypad with your hand to prevent people seeing when you enter your PIN.
- Never disclose your PIN to anybody, not even to the bank or police.
- Press the Cancel key, withdraw your card and proceed to an alternative ATM if you feel the ATM is not functioning correctly.
- Use the help line and/or nearest phone to contact your bank and/or police if your card gets jammed, retained or lost, or if someone interferes with you at an ATM.
- Take your time when transacting and ensure your cash and card are carefully secured in your wallet, handbag or pocket before leaving the ATM.
READ ABOUT KRUGERRAND
How much is a gold Krugerrand worth?
Krugerrands coins are unusual being that they are a true legal tender. However, a Krugerrand does not have a currency face value. The coins are redeemable by South Africa’s central bank at gold’s current melt value.
What is the value of a Krugerrand?
Though a Krugerrand weighs 1.09 troy ounces, each coin contains one pure ounce of gold. The value of one Krugerrand is equivalent to the melt value of one troy ounce of gold, which varies minute by minute.
How much is a Gold Krugerrand worth in dollars?
Prices of Gold Krugerrands in U.S. Dollars were over $1,900 in September 2011 and traded under $1,100 at the end of 2015. In recent years, Gold Krugerrands have been worth $1,275 on average. The current ask purchase prices for one gold Krugerrand is: $1261.40.
What is the Gold Krugerrand price today to sell?
The price to sell Gold Krugerrands is at the bid price. The current or most recent Monex Gold Krugerrand Bid price is: $1222.80.
What was the price of a Krugerrand in 2016?
In 2016, Gold Krugerrands opened the year at a price of $1,113, and the year end price was $1,111. The monthly average price of Krugerrands for 2016 was $1,291.
Has the prices of Krugerrands appreciated historically?
Gold Krugerrands do not appreciate every year. However, Krugerrands have appreciated in the long-term. Since the Vietnam War, they rose from $35 to today’s values of well over one thousand dollars. Since “Y2k” year 2000, Krugerrands have appreciated about 450%.