Big changes for Standard Bank branches and ATMs across South Africa

Standard Bank is making an increasing number of its branches in South Africa cashless as clients continue to shift towards digital transaction channels. 

Coupled with this move is an overhaul of the bank’s ATM network, with it upgrading its machines across South Africa to offer enhanced services and increase efficiency. 

This will be a substantial exercise for the bank, with it having 4,100 points of representation in South Africa. 

On 17 September, the bank announced it is revamping its physical banking network, with some branches becoming fully cashless. 

Certain Standard Bank branches have seen a significant reduction in cash activity from specific client segments, with this trend driving the shift. 

The new cashless branches will focus on sales, financial advisory, digital services, and staff-assisted complex services. They will also offer services such as loan applications, transfers, account opening, and assistance with account management.

“With cash volumes declining in some areas, we decided to review our branch network and streamline our footprint,” Standard Bank’s head of personal and private banking, Kabelo Makeke, said. 

“Cash services have been consolidated into central branches with improved processing capabilities to enhance access, efficiency, and client experience.” 

This type of servicing is largely limited to business banking clients, with personal and private banking individuals almost fully shifting towards digital channels. 

Presenting the bank’s latest interim financial results, CFO Arno Daehnke explained the bank’s efforts to increase the efficiency of its physical infrastructure. 

Daehnke explained that the bank has maintained a significant physical presence in South Africa, with its points of presence increasing slightly. 

It has done this more efficiently by shifting the transactions still conducted in cash to ATMs and out of branches. 

Nearly 90% of the bank’s cash deposits were received via non-branch channels, with 97% of withdrawals being made outside its branch network. 

This has enabled it to roll out more cashless branches in South Africa, with 62 currently in operation out of 635 branches in the country. This number has increased from a mere five branches in 2020.

The bank also has 110 modular branches, which are cashless.

Simultaneously, the bank has shrunk its branches by over 30% since 2020 as cash transactions are now conducted elsewhere. 

This has resulted in Standard Bank being able to change its staff mix at branches and employ more multi-service consultants and fewer cash consultants.

These changes can be seen in the graphic below from Daehnke’s results presentation.

Next-generation ATMs

As it streamlines branch operations, Standard Bank has upgraded all its ATMs in South Africa to faster, next-generation machines. 

Makeke said these touchscreen machines, which aim to increase efficiency, are attracting high usage from the bank’s clients and even those who bank elsewhere.

“Reduced transaction times and fewer delays are among the key reasons we’re seeing such high foot traffic,” explained Makeke. The ATMs process withdrawals in as little as 45 seconds from card insertion to cash in hand. 

“These new ATMs represent a leap forward. We’ve moved beyond legacy issues like card retentions and lagging screens to a sleek, responsive system built for the future.”

With large touchscreens and intuitive navigation, the bank is aiming to mirror the experience that personal banking customers get when using the Standard Bank app.  Enhanced fraud protection and security features further ensure client safety.

“We are making every effort to ensure minimal disruption to customers as we refine our branch operations and upgrade our ATMs,” Makeke said. “Our goal is to deliver a banking experience that is modern and secure, while remaining inclusive.” 

In a previous response to questions from Daily Investor, Makeke said this shift to a smaller number of more efficient ATMs has been driven by declining demand for cash withdrawals. 

He explained that cash withdrawals have not recovered to pre-pandemic levels, leaving the bank with little choice but to shut down underutilised ATMs. 

“In recent years, we have seen a significant increase in ATM cash deposits driven by branch cash migration,” he said. 

“ATM cash withdrawals remain largely flat whilst there is continued decline in utilisation of non-cash ATM services due to digital migration.”

Thus, Standard Bank has begun adjusting its ATM network in response to these trends and as part of its efforts to better serve client needs.  

“In some cases, this will result in the removal or relocation of low-transacting ATMs to areas that are more convenient and accessible to clients,” Makeke said.

The lists below show how the bank’s current physical footpring in South Africa across its branch and ATM networks.

Branches:

• 426 conventional branches (incl. 4 cash-only)
• 62 cashless branches
• 110 modular branches
• 36 Bank on Wheels
• 1 tactical branch

Note: Modular branches are also cashless.

ATMs:

• Total: 3,448
• Types: 1,785 are deposit-taking and 1,663 are cash-dispensing ATMs
• Deposit-taking ATMs: Increased by 26 since December 2023
• ATM trends: The number of ATMs in South Africa has only decreased slightly, from 3,544 in Dec 2023 to 3,448 in June 2025

Standard Bank has reduced the number of ATMs in South Africa from 3,544 to 3,448 over the past 18 months. However, the number of its branch points of representations has risen 635.