Digital banking causing banks to close ATMs and shrink branches

Daniel Puchert

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South African banks closing ATMs and shrinking branches

South Africa's largest banks are expanding their individual branches but also reducing the overall space their branches occupy as the growth of digital banking has reduced the need for extensive physical infrastructure.

All but one of South Africa's five major banks increased their branch numbers over the last two reported financial years.
 
They pushing for a cashless society. Of course more and more online fraud will happen and banks will take less responsibility for the online theft but not do much more than they currently do to improve online security. It seems anyone can withdraw money from your account with some bogus debit order that you magically authorized without your knowledge and now got to jump through hoops to stop and even get your money back.
 
If you deposit cash its much cheaper say R5000 at PnP at a time. And its a peace of cake withdrawing from the Supermarkets too.

I havent used an ATM much at all lately. Its become pointless.
 
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