Most major South African banks have shut down ATMs in recent years, except Capitec

mylesillidge

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Banks closing ATMs across South Africa — with one exception

Most of South Africa's major banks have shut down automated teller machines (ATMs) in South Africa over the past five years, except for Capitec.

There has been a big increase in banked customers in the country due to the rise of more affordable entry-level banking products by established players and upstarts.
 
Capitec still caters to the poor and dumb. We don't understand the concept of withdrawing and depositing money at high-end stores like Shoprite, Checkers and Pick n Pay. The spaza shops in our areas don't offer cash withdrawals from the their tills. Know your customer.
PS. I heard about cellphone banking. Can someone please help setup cellphone banking on my Nokia 3310
 
Ah wanted to add in

Less ATMs mean less ATM robberies and less cash in transit robberies which saves the banks a fortune too. Supermarkets however always deals with cash, so they dont have to pay to stock up their tills with cash.

*fewer

I hardly ever use ATMs these days, and 1/2 the times I've had to use them recently they've been broken.
 
Whole article is utter nonsense. Banks are buying new atms like there is no tomorrow. Revamping branches with new machines. Commissioning old sites that were decommissioned a while back. Business is booming if you do work for the banks
 
The shift towards retailer cash points has been driven by digital upstarts like TymeBank, which does not operate its own ATMs.
Not always the best option. Been told on numerous occasions, at PnP, with a Tymebank card: "Sorry, I don't have that amount of cash in my till."
So I can see why ATM's are still popular.
 
Not always the best option. Been told on numerous occasions, at PnP, with a Tymebank card: "Sorry, I don't have that amount of cash in my till."
So I can see why ATM's are still popular.
The attitude that they are doing you a favour by giving you the cash is what I won't tolerate, that's why I will always stick to the traditional ATM.
 
The attitude that they are doing you a favour by giving you the cash is what I won't tolerate, that's why I will always stick to the traditional ATM.
I haven't understood this attitude from cashier as well - I thought I was the only one who experienced it

Do they perhaps get a bonus if they have x amount of cash by end of their shift ? I mean what difference does it make in their life ? Is it perhaps they can't reach their transaction target per day if they let go of the cash and then don't have change for next cash customer ?
 
I haven't understood this attitude from cashier as well - I thought I was the only one who experienced it

Do they perhaps get a bonus if they have x amount of cash by end of their shift ? I mean what difference does it make in their life ? Is it perhaps they can't reach their transaction target per day if they let go of the cash and then don't have change for next cash customer ?
Honestly no idea, first thought is that they totally don't understand the concept of why they should have no cash, being cash people in their personal lives, maybe there isn't enough training.
 
Not always the best option. Been told on numerous occasions, at PnP, with a Tymebank card: "Sorry, I don't have that amount of cash in my till."
So I can see why ATM's are still popular.
I've experienced the same. The less people are transacting with cash, the less of a float the stores have to actually allow you to withdraw money, so I've had to rely on ATMs sometimes.
 
I've experienced the same. The less people are transacting with cash, the less of a float the stores have to actually allow you to withdraw money, so I've had to rely on ATMs sometimes.
I can maybe understand this, but if you're tied to a bank, shouldn't you at least make provision for large cash withdrawals?

To make matters worse, I've never had a problem at my local Checkers Hyper branch with large withdrawals, and they're not even tied to Tymebank.

If there isn't enough money in a till, a supervisor would usually sort it out.
 
I can maybe understand this, but if you're tied to a bank, shouldn't you at least make provision for large cash withdrawals?

To make matters worse, I've never had a problem at my local Checkers Hyper branch with large withdrawals, and they're not even tied to Tymebank.

If there isn't enough money in a till, a supervisor would usually sort it out.
My problems have been mostly at PNP as well, so wonder what their problem is.
 
I must presume Capitec gets a lot of the banking done at ATMs. Why else? Personally, I prefer email/phone assistance, online and cashless as far as possible. Happy to go into the bank once or twice a year to get anything particularly serious done. The petrol/taxi money and time and hassle/risk to get to the ATM (Assault Targeted Monolith, in SA) and use it, is a hidden fee.

In any case... What good are more ATMs as a selling point? There's just no way I could part from the established, venerable even, bank that I make use of. I like pay X monthly fee, get back 20X in value, I'd say. At least. How do you quantify the value of a banking environment that I've not even managed to explore the full breadth of wealth generating and expense saving services yet?

And listen to this...

Rewards... If my basic, boring, groceries budget was, say, R2000 (I'm not posting my actual numbers), then I could spend R500 (25%) more. And if I did that, then I would get to deposit a shiny R500 into an investment account too. Just like that. I could, with a R2000 groceries budget, for example buy the groceries, and then spend R500 extra on food for a braai. And for my "trouble" grow my investments by R500. Or... I could just buy the R2000 groceries, forego the braai, additionally invest R500 in the normal way (for an equal total of R2500 spent), and then get to invest a shiny R400 more from the rewards. Pasella. So, R900 invested for the price of R500, which will yield returns, forever. It's ludicrously good :laugh: I'm investing locally, abroad, in green industry, for dividends, tech companies, property, etc. in this way. Although of course I do put more into the account than what I get from rewards. It yields... many times my monthly bank fees. A few mouse-clicks a month. I'm damned sure I could do it in about 20 low effort mouse-clicks a month. No paperwork. Not any I have to write/type anyway. Except a chirpy email to my tax consultant once or twice a year. The rewards on petrol alone, with a low monthly petrol spend, already essentially makes my banking free. And there's 1% back on every credit card swipe. If I did something crazy like walk into Hyundai and buy an i10 grand on my credit card, then at the end of the month the bank would basically say "Thank you sir. Here's R2250 for shits and giggles."

That's a minor way in which I benefit. As one example, I easily got Prime minus (more than 1 - Again... Not posting my actual numbers) the last time. Loyalty probably had something to do with it. No complaints. And, and, and, and... Even doing the taxes due from any of it is easy thanks to the service I get. All easy. Low admin. No stress. So when I hear people faffing about bank fees this, and some minor rare inconvenience that... Then it just leaves me... puzzled? Plain and simple. Do they understand the concept of VALUE? The value inherent in a well curated and developed bouquet of services and benefits. More than the sum of its parts. All it takes is exploring the options. In my case, Online... With my butt planted in my chair.
 
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My problems have been mostly at PNP as well, so wonder what their problem is.
My local Pick n` Pay Hypermarket business has basically bottomed out. My guess is they not going to keep a large amount of money in a nearly empty store. Nor I guess they want to empty out their tills of change for a large withdrawal for one person and have nothing for change for others.
 
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