Absa is scaling back over-the-counter cash services in its South African branches. Teller cash will remain available only at “selected branches”, as the bank pushes routine transactions to ATMs, self-service devices and, in future, local businesses acting as banking agents.
The bank announced the changes on Thursday, presenting them as a modernisation of its branch, ATM and self-service network. It did not say how many of its 574 branches will keep counter cash services.
Absa said more than 90% of its retail customers have moved routine transactions from branches to self-service channels, and that the value of cash handled across its branches and ATMs fell by 30% between 2020 and 2025. About 90% of deposits now go through ATMs and self-service devices; in 2019, more than half were still handled by tellers.
“Customers are banking differently, and our branch frontline must keep pace with that change,” said Pieter van Eeden, managing executive for integrated channels, in a statement. “At the same time, cash remains important for many people and businesses, especially where other options are limited.”
Absa stressed that its branch footprint has grown, from 551 outlets in 2021 to 574 now, and that its intention “is not about reducing its physical presence”.
But the mix is shifting. In its interim results presentation (PDF) in August, Absa said it had increased its smaller “sales and service” outlets from 122 to 215 since June 2025 “as we shift away from traditional full-service branches”. CEO Kenny Fihla cited the change as an example of removing costs that no longer create value.
Agency banking model
Business Times reported at the time that Absa’s traditional branches had fallen 18% to 359 – which, together with the 215 sales and service outlets, makes up the 574 – and that its ATM network had shrunk 2% to 4 976. Van Eeden told the paper the bank aimed to grow its cashless branches to 456 over time, while Fihla said cash-dispensing branches were substantially more costly to run.
Thursday’s statement says 81 branches have so far moved to an “advisory service model”, focused on guidance rather than transaction processing. Absa did not explain how that figure relates to the 215 sales and service outlets.
Before making “network changes”, Absa said, it will assess local cash demand and the availability of nearby alternatives, adding device capacity where needed. It is also developing an agency banking model that would let customers, particularly in townships and rural areas, withdraw and deposit cash at local businesses. Cash would be the starting point, with other services potentially added later. — © 2026 NewsCentral Media
