Standard Bank, South Africa’s largest bank by assets, and Absa Bank, the third-largest bank, have announced that they are moving away from cash-heavy branches (although for slightly different reasons) toward models built around digital access, advisory services, and fewer physical cash points. This doesn’t mean the lenders will stop dispensing cash at their branches; they are just no longer the centre of branch banking.
Absa says it’s undergoing a strategic evolution. The bank described its earlier model as cash-heavy and noted that customers are increasingly using other channels for transactions. Absa is now shrinking its branch and ATM footprint, and converting many locations into sales-and-service outlets. Absa has already begun reducing its branches around the country from 632 in 2019 to 558 as of June 2025. Its ATM network has also declined to 5,133.
Standard Bank’s logic is more behaviour-driven. The bank says its customers are using less cash in many parts of the country and asking for more advisory services, like loans, investments, and wealth management, rather than withdrawals. Standard Bank’s response is to make some branches cashless, supported by centralised cash hubs, ATMs, and nearby branches that still handle teller services.
What would this mean? The banks have identified consumption patterns of their users and are now tailoring their offerings to meet those needs. The logic makes sense: banking becomes cheaper to run, and customers get less crowded branches. But this transition also tests financial inclusion for people who still rely heavily on cash. For now, the banks insist this is evolution, not exclusion. Whether everyone keeps up is left to be seen.