South Africa’s top banks are fast-tracking their shift to digital, with four major players – Standard Bank, FNB, Absa, and Nedbank – steadily reducing the number of ATMs across the country.
In contrast, Capitec is expanding its ATM network, saying the move is aimed at giving customers better physical access to banking.
Nedbank’s interim results for the six months ending June 30 2025 confirmed this trend, showing a reduction from 4,199 ATMs in December 2024 to 4,028 mid-2025.
Over the past five years, these four banks have cut a combined 8,516 ATMs. Capitec, however, added 3,787 during the same period – bringing the net loss of ATMs across all five banks to 4,729.
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Speaking to MyBroadband, a South African media outlet, Capitec said it is expanding both its branch and ATM presence as competitors downsize.
“We believe that real service means showing up where it matters most: in the heart of communities,” the bank said, adding that the expansion supports more clients in their own communities and languages.
BANKING | South Africa’s Leading Retail Bank, Capitec Bank, Restricts Customers From Sending Funds to Crypto Exchanges
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A report by Discovery Bank and Visa – SpendTrend25 – found that digital payments are now preferred by most South Africans, who previously showed skepticism toward traditional banks. That sentiment is changing, along with a growing awareness of the high costs associated with handling cash.
According to the survey, 67% of respondents use cash only a few times a month or not at all.
“While many people still use cash for a myriad of reasons, largely out of habit, the prevalence of cash is losing its appeal,” the report noted.
“Cash is becoming less common as a payment method, with most South Africans now favouring digital transactions.”
While Capitec acknowledges the shift to digital, it maintains that cash remains essential for many.
“We are committed to offering cash in a more affordable and accessible way for as long as it’s needed. Expanding our ATM network is part of ensuring that no one is left behind,” the bank said.
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ATM Closures by Bank
Data from the 2018/19 financial year to the latest reporting periods shows:
Standard Bank has seen the steepest drop, cutting 3,759 ATMs – from 9,321 in 2019 to 5,562 by December 2024.
Kabelo Makeke, Standard Bank’s head of personal and private banking, explained:
“Over the last few years, we renewed our ATM network by introducing new technology ATM devices with a significantly improved transaction speed and overall quality of service.
The new ATMs have higher capacity and offer more client services, including real-time acceptance, validation, and recycling of bulk cash.”
BANKING | South Africa’s Largest Bank, Standard Bank, Reveals Over 120% Increase in Number of Offshore Accounts Since 2021
The rise in offshore limits under Regulation 28 of the Pension Funds Act in 2022 has also allowed South Africans more opportunities to diversify… pic.twitter.com/ZCcf2hrE1j
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ABSA followed closely, trimming 3,518 ATMs – from 8,656 in 2018/19 to 5,138 by end of 2024.
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FNB removed 1,010 ATMs between 2019 and December 2024
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NedBank reduced its fleet by 229 – from 4,257 to 4,028 by June 2025
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Meanwhile, Capitec grew from 5,011 ATMs in 2019 to 8,798 by the end of 2024
BANKING | South Africa’s Leading Retail Bank, Capitec Bank, Restricts Customers From Sending Funds to Crypto Exchanges
This is to protect clients from fraud. Customers advised to use Capitec Pay as a crypto transactions alternative.https://t.co/iwbZoiP4jK @CapitecBankSA pic.twitter.com/nkHrml2F78
— BitKE (@BitcoinKE) October 29, 2024
ATM Count by Bank (2019 vs. Latest)
Bank 2019 Latest Change Absa 8,656 5,138 -3,518 FNB 5,780 4,770 -1,010 Nedbank* 4,257 4,028 -229 Standard Bank 9,321 5,562 -3,759 Capitec 5,011 8,798 +3,787
*Nedbank’s data reflects H1 2025/26 results. Others use full FY2024/25 data.
*SOUTH AFRICA | Leading American Crypto ATM Firm, CoinFlip, Installs 9 Crypto ATMs in South Africa*
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