Over 3,000 Capitec ATMs added amid national reductions
Over the past five years, South Africa’s leading banks have reduced their ATM networks by around one-third. The shortfall would have been even more dramatic if Capitec hadn’t gone against the trend.
On Tuesday, Nedbank released unaudited interim results for the six months ending 30 June 2025, showing a continued reduction in the national ATM network.
Additional data from MyBroadband reveals that Standard Bank closed the most ATMs since the 2018/2019 financial year. In 2019, it had 9,321 ATMs; by December 2024, the number had fallen by 3,759 to 5,562.
Absa followed closely, shutting down 3,518 ATMs and reducing its network to 5,138.
On average, the total number of ATMs in South Africa fell by about 25% in the last five years. However, Capitec bucked the trend, expanding its network by 3,787 ATMs, reaching a total of 8,798.
Banks have cited the shift to digital services and upgraded multifunctional ATM devices as reasons behind the reduction.
“Over the past few years, we’ve upgraded our ATMs with new technology that significantly improves transaction speed and service quality,” said Kabelo Makeke, head of personal and private banking at Standard Bank.
He added that newer machines offer higher capacity and more features, such as accepting, validating, and processing large volumes of cash in real-time.
Cash – a habit, not a necessity?
The only outlier among South African banks is Capitec, which is actively expanding its ATM network.
“We believe that true service means being present where it’s needed most — in the heart of communities,” the bank stated, adding that expansion helps them better serve clients in their own languages and locations.
However, even Capitec acknowledges that cash is used mostly out of habit, and its appeal is fading.
A recent Discovery Bank and Visa SpendTrend25 report shows that 67% of South Africans now prefer digital payments over cash.
As we wrote, SARS freezing accounts, garnishing wages over unpaid tax debts
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