Standard Bank explains why it's reducing ATM numbers

[mylesillidge]

Top bank closing ATMs across South Africa

Standard Bank says it is reducing the number of ATMs in its network primarily due to accelerated digital adoption among its customers and the increased availability of alternative cash access points.

The bank's ATM network in South Africa has reduced from 5,320 machines as of the end of June 2020 to 3,448 ATMs by the end of June 2025.

 

[Smiggles]

What about the people in Kuruman that only use cash?

 

[EmmanuelGoldstein]

What about the people in Kuruman that only use cash?

And the taxi bosses

 

[Smiggles]

And the taxi bosses

They can just kill another ehailing driver.

 

[Adhvik]

Top bank closing ATMs across South Africa

Standard Bank says it is reducing the number of ATMs in its network primarily due to accelerated digital adoption among its customers and the increased availability of alternative cash access points.

The bank's ATM network in South Africa has reduced from 5,320 machines as of the end of June 2020 to 3,448 ATMs by the end of June 2025.

Musical chairs ? This is only because the lower LSM moved to Capitec and middle to higher LSM are using digital platforms to transact

 

[Brieuse]

I can't remember the last time I had actual cash in my wallet

 

[Curt889]

Their stats factor in but they don't mention the atm losses during the looting which were never replaced as they were deemed too high risk.

Lobby atm machines were no longer in demand after looting and were either not replaced or replaced with built in cubicle machines

 

[Bad Ballie]

Makes sense, even if it fits a narrative. It doesn't make sense to have ATM's in low usage area where there are enough other retailers offering the facility. While cash isn't in use by the technically literate classes to the extent it was a few years ago, it is still very much alive with the masses, who while paying via card in respect of their grants still rely on cash almost exclusively in the informal sector.

 

[bwana]

the increased availability of alternative cash access points.

True - I get the majority of my cash from the tills.

He added that holding cash carries a risk, given the high levels of criminal activity in South Africa.

Fortunately cyberspace is safe for all...
/s

 

[Smiggles]

True - I get the majority of my cash from the tills.


Fortunately cyberspace is safe for all...
/s

Much more secure than robbing my card and going on a shopping spree.

 

[Jongi]

What about the people in Kuruman that only use cash?

then that atm will stay

they didn't say they will no longer have atm

 

[Corelli]

Well with ATM robberies and cash in transit robberies that cost them over R120 million a year.

But their private bankers suck.

Was offered private but soo many hassles, and got me to close them and go to Nedbank Private. Sooo much better other than for ucount. But then credit card interest rate at 13% with Nedbank vs 20-25% at Standard Bank is a big difference. And then I get 4.5% interest on my current account compared to 0% at Standard Bank. 10x Lounge entries and discount and extended warranties on Apple and Samsung, and so on, its miles better than Standard Bank.

 

[Corelli]

Much more secure than robbing my card and going on a shopping spree.

Use a virtual card, you can create one on your app and link it to some of your other payment apps, and use the virtual top up card ideally and not the virtual credit card. It works incredibly well.

With tap to pay so easy and if you have used Apple Pay (which is supported at most retailers), its a general no brainer. China with my recent visit was tap to pay via Wechatpay or Alipay for everything. Almost no places accepted cash there. Singapore Apple Pay pretty much everywhere and same in Hong Kong.