· Nedbank, Absa and First National Bank have reduced their cash machine networks since 2023 as banking increasingly moves towards digital services.
· Capitec added 900 cash devices between 2023 and 2025 as cash transactions grew, showing South Africans are far from giving up notes and coins.
South African banks are slowly saying goodbye to some cash machines, but Capitec is moving in the opposite direction.
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Three of the country's five big traditional banks have reduced their networks since 2023 as more customers turn to online and cellphone banking.
Nedbank recorded the biggest drop, cutting its number of cash machines by about 4.4%.
Absa's network dropped by 2.3%, while First National Bank recorded a small decline of 0.3% between 2023 and 2025.
But Standard Bank and Capitec are bucking the trend.
Capitec has made the biggest push into cash services, adding hundreds of machines in just two years.
The bank had 7,898 cash devices in 2023. By the end of 2025, that number had jumped to 8,798.
That is an increase of 900 devices.
The figure includes cash machines, cash and coin recyclers and dual note recyclers. More than 7,000 are cash machines.
Capitec's move comes as cash transactions continue to bring in money for the bank.
Cash transactions amounted to R596-million in 2024 and increased to R619-million in 2025.
Digital and card payments are worth more, but cash remains a large and growing source of revenue for the bank.
Standard Bank has also expanded its network, although by a much smaller amount.
It had 3,450 cash machines in 2023 and increased that number by 46 to reach 3,496 at the end of 2025.
First National Bank has also recently started increasing its physical presence again.
It had 4,781 Point of Presence devices across the country in April 2026, up from 4,775 at the end of 2025.
However, that was still slightly below the 4,790 devices it had in 2023.
These devices include cash machines, automated deposit machines and kiosks where customers can print statements.
For banks cutting machines, cost and crime are among the problems that come with handling cash.
Cash services are expensive to run and protect.
Cash in transit vehicles have also become major targets for criminals.
South Africa recorded 31 cash in transit robberies during the first three months of 2026.
The threat of robbery means banks face not only possible losses from stolen money, but also the cost of tighter security.
Online banking avoids many of those problems.
Banks are also finding other ways to help customers and small businesses make payments without cash.
In 2025, Nedbank bought iKhokha, a financial technology company that helps small businesses accept electronic payments.
Businesses such as spaza shops can use its payment systems to allow customers to pay using cards or cellphones.
This gives businesses that traditionally relied heavily on cash another way to take payments.
Some banks have gone even further.
Discovery Bank operates without its own cash machine or traditional branch network.
Banks are also encouraging customers who need cash to withdraw it at supermarket tills.
The difference in fees can be big.
Cash machine withdrawals at some major banks can cost between R10 and R20, while withdrawing money at a shop till can cost between R1 and R3.
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But despite the huge growth of cellphone apps, cards and other digital payment methods, South Africa is nowhere near becoming a cashless country.
The South African Reserve Bank said in June that about two thirds of transactions in the country are still made using cash.
The Reserve Bank says access to cash remains an important part of the economy and should be protected.
But using cash comes at a price.
According to the Reserve Bank, about half of the cost of keeping cash moving through the economy is eventually passed on to consumers.
Those costs include transaction fees and money lost through crime.
The Reserve Bank has proposed ways to protect access to cash as banks continue moving more of their services online.
So while some banks see fewer cash machines as part of the future, Capitec's expansion tells a different story.
For millions of South Africans, cash is still very much alive.
