{"id":97819,"date":"2026-04-27T15:27:13","date_gmt":"2026-04-27T15:27:13","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches"},"modified":"2026-04-27T15:34:17","modified_gmt":"2026-04-27T15:34:17","slug":"major-south-african-bank-launches-cashless-branches","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches","title":{"rendered":"Major South African Bank Launches Cashless Branches"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Standard Bank has opened 234 cashless branches in South Africa, which is up from five in 2020, as clients continue to switch to digital transaction channels.<\/p>\n

This switch has enabled the bank to move a significant proportion of its cash transactions to ATMs, reducing its cash-handling costs. Around a third of all the bank\u2019s branches in South Africa are now cashless.<\/p>\n

The move of cash transactions to ATMs also enables the bank to shrink the size of its individual branches, making its vast real estate portfolio more efficient.<\/p>\n

As a result, the bank is able to maintain the same points of presence network at a smaller cost and upskill branch employees to be able to handle more complex transactions.<\/p>\n

In response to questions from Daily Investor, Standard Bank revealed the number of cashless branches in South Africa and how they have been received by customers.<\/p>\n

First revealed by CFO Arno Daehnke in August 2025, the financial benefit of the branches has been made clear, with it reducing the bank\u2019s operating costs.<\/p>\n

Nearly 90% of the bank\u2019s cash deposits are now received via non-branch channels, with 97% of withdrawals being made outside of the network.<\/p>\n

\u201cOur cashless branch strategy ensures we are investing where it matters most \u2013 in convenience, expertise, and better service, in locations closer to our customers,\u201d Standard Bank\u2019s Kabelo Makeke said.<\/p>\n

Crucially, these cashless branches are coupled with the bank\u2019s new ATMs to process cash transactions and meet the requirements of customers.<\/p>\n

\u201cBranches, which offer full cash services, are still relevant in various areas and are determined and supported by increasing demand and usage of the same services,\u201d the bank said.<\/p>\n

\u201cWhere the demand for branch cash is low and has reduced to low levels over time, we then use the opportunity consolidate, integrate and convert such branches to be cashless and supported by ATMs.\u201d<\/p>\n

Standard Bank was careful to say that cash remains key to its customers and its service offering, with it looking to improve accessibility in a cost-effective way.<\/p>\n

It also noted that the reduction in cash handling in branches is part of efforts to improve the safety and security of its customers and staff.<\/p>\n

Full-service branches are a dying breed<\/b><\/p>\n

Nedbank CFO Michael Davis<\/p>\n

This is part of a broader trend from banks, with full-service branches becoming an increasingly rare occurrence, limited to major shopping malls in population centres.<\/p>\n

These branches are also changing significantly, with banks looking to upskill staff to be able to handle more complex transactions, offer financial advice, and increasingly distribute insurance products.<\/p>\n

This means these branches will never fully disappear from South Africa, but rather will be reconfigured to better serve clients in particular areas.<\/p>\n

Former FNB CEO Harry Kellan explained to Daily Investor that a physical presence in some form is critical to being a full-service bank in South Africa.<\/p>\n

\u201cWe need to ensure that we serve communities where they are and as effectively as we can. If that means it is an agent we can have in that area, or an ATM, or a Pick n Pay kiosk, we will do it,\u201d Kellan said.<\/p>\n

\u201cIf the volumes are much bigger and clients demand more sophisticated services, then we will open a branch.\u201d<\/p>\n

Nedbank CFO Mike Davis echoed these sentiments, telling Daily INvestor that banks will always need a physical presence to offer a wide range of services.<\/p>\n

\u201cHaving said that, what you have seen Nedbank do is retain its points of presence, but reduce the size of its footprint,\u201d Davis said.<\/p>\n

\u201cIf you go back over the years, you will see that every branch and every point of presence was roughly the same size and offered the same services.\u201d<\/p>\n

Banks are also increasingly partnering with retailers to expand their physical reach without investing in developing their own real estate.<\/p>\n

FNB has a prominent partnership with Pick n Pay, while Nedbank is closely partnered with Boxer. Both banks offer basic branch functions from in-store kiosks.<\/p>\n

\u201cIf we have a point of presence with a retailer like Boxer, it is manned by Nedbank staff, but it is very simple in terms of its value offering or proposition,\u201d Davis said.<\/p>\n

\u201cOn the other hand, if you go into Sandton City, you will see a huge branch offering everything from transactional banking to stockbroking, asset management, lending, and deposit-taking.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Standard Bank has opened 234 cashless branches in South Africa, which is up from five in 2020, as clients continue to switch to digital transaction channels. This switch has enabled the bank to move a significant proportion of its cash transactions to ATMs, reducing its cash-handling costs. Around a third of all […]<\/p>\n","protected":false},"author":84,"featured_media":97818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[275],"class_list":["post-97819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-south-africa-2"],"yoast_head":"\nMajor South African Bank Launches Cashless Branches - South Africa<\/title>\n<meta name=\"description\" content=\"Standard Bank has opened 234 cashless branches in South Africa, which is up from five in 2020, as clients continue to sw ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Major South African Bank Launches Cashless Branches\" \/>\n<meta property=\"og:description\" content=\"Standard Bank has opened 234 cashless branches in South Africa, which is up from five in 2020, as clients continue to sw ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-27T15:27:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-27T15:34:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1777291431.279409.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Major South African Bank Launches Cashless Branches\",\"datePublished\":\"2026-04-27T15:27:13+00:00\",\"dateModified\":\"2026-04-27T15:34:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches\"},\"wordCount\":737,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1777291431.279409.jpg\",\"keywords\":[\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches\",\"name\":\"Major South African Bank Launches Cashless Branches - South Africa\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1777291431.279409.jpg\",\"datePublished\":\"2026-04-27T15:27:13+00:00\",\"dateModified\":\"2026-04-27T15:34:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Standard Bank has opened 234 cashless branches in South Africa, which is up from five in 2020, as clients continue to sw ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1777291431.279409.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1777291431.279409.jpg\",\"width\":1024,\"height\":576,\"caption\":\"Major South African Bank Launches Cashless Branches\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/south-africa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Major South African Bank Launches Cashless Branches\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/\",\"name\":\"South Africa\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Major South African Bank Launches Cashless Branches - South Africa","description":"Standard Bank has opened 234 cashless branches in South Africa, which is up from five in 2020, as clients continue to sw ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches","og_locale":"en_US","og_type":"article","og_title":"Major South African Bank Launches Cashless Branches","og_description":"Standard Bank has opened 234 cashless branches in South Africa, which is up from five in 2020, as clients continue to sw ...","og_url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches","og_site_name":"South Africa","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2026-04-27T15:27:13+00:00","article_modified_time":"2026-04-27T15:34:17+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1777291431.279409.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Major South African Bank Launches Cashless Branches","datePublished":"2026-04-27T15:27:13+00:00","dateModified":"2026-04-27T15:34:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches"},"wordCount":737,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1777291431.279409.jpg","keywords":["South-Africa"],"articleSection":["all news","economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches","url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches","name":"Major South African Bank Launches Cashless Branches - South Africa","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1777291431.279409.jpg","datePublished":"2026-04-27T15:27:13+00:00","dateModified":"2026-04-27T15:34:17+00:00","author":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Standard Bank has opened 234 cashless branches in South Africa, which is up from five in 2020, as clients continue to sw ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#primaryimage","url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1777291431.279409.jpg","contentUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1777291431.279409.jpg","width":1024,"height":576,"caption":"Major South African Bank Launches Cashless Branches"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/major-south-african-bank-launches-cashless-branches#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/south-africa\/"},{"@type":"ListItem","position":2,"name":"Major South African Bank Launches Cashless Branches"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/south-africa\/#website","url":"https:\/\/www.africa-press.net\/south-africa\/","name":"South Africa","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/97819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/comments?post=97819"}],"version-history":[{"count":1,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/97819\/revisions"}],"predecessor-version":[{"id":97821,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/97819\/revisions\/97821"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media\/97818"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media?parent=97819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/categories?post=97819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/tags?post=97819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}