Top four South African banks closing ATMs
While big banks are closing thousands of cash machines nationwide, one bank is expanding its network.
In August 2025, MyBroadband reported that Standard Bank, FNB, Absa, and Nedbank have reduced their ATM footprints by 8,516 machines in the past five years.
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Four of the country's largest banks, Standard Bank, FNB, Absa, and Nedbank, are withdrawing their ATM services nationwide in South Africa.
However, Capitec continues to expand its ATM network.
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The overall number of ATMs offered by the country’s five largest banks has decreased by nearly 12% during this period, reflecting changes in consumer habits and a growing reliance on digital transactions.
According to MyBroadband these trends have reshaped the national cash access landscape and continue to influence banks’ long-term infrastructure decisions.
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Why are banks removing their ATMs?
It is simply the result of a combination of factors, which include:
- A decline in cash usage as digital banking and card payments gain traction across the country.
- More affordable card payment devices offered by companies such as iKhokha and Yoco have made it easier for small businesses to accept digital transactions.
- Improved cellular coverage in rural regions has also supported this shift, enabling card machines and digital services to operate reliably in areas previously dependent on cash.
- Mobile payment options, such as Apple Pay, Samsung Pay, Google Wallet, and app-based cardless withdrawals, have further accelerated the shift toward digital possibilities.
- Another major challenge is security.
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The high cost of protecting, repairing and insuring these machines has prompted banks to reconsider their ATM strategies.
Although they are removing ATMs, these banks are not neglecting their customers who rely on cash.
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These banks have expanded partnerships with major retailers, including Shoprite and Pick n Pay.
These agreements allow customers to withdraw or deposit cash at tills for a small fee.
Digital-only banks, such as TymeBank, Discovery Bank, and Bank Zero, also rely heavily on such retail partnerships to provide cash access to their customers.
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This offers the added benefit of increased safety, as criminals are less likely to target busy retail stores with high foot traffic and visible security.
The number of ATMs available, according to recent financial reports:
- Absa, Capitec, FNB, Nedbank, and Standard Bank collectively reveal a total of 26,167 ATMs as of mid-2025. In mid-2020, the figure was 29,671.
- Capitec’s ATM network has increased by 53% since August 2020, rising from 5,757 to 8,824 machines.
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This expansion has made Capitec the largest ATM provider in South Africa today. (Capitec’s reported numbers include coin and note recyclers, partnership ATMs and other cash devices.)A substantial portion of its customer base is drawn from lower-income markets, where cash usage remains more common, although the bank has reported a slowdown in cash transaction growth.
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The Drive with Rob and Roz previously spoke to Tshiwela Mhlantla, Managing Executive for Integrated Channels at Absa Personal and Private Banking.
They asked Mhlantla whether Absa will be shutting down its ATMs.
Absolutely not. We are aware that there is a big market that still relies on cash, and ATMs play a pivotal role in ensuring that we deploy services to our customers across the length and breadth of our country.
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