Standard Bank said on Tuesday that it is accelerating the shift to cashless branches as it adapts its physical network to changing customer behaviour and declining cash usage in parts of South Africa.
In a statement, Standard Bank Personal and Private Banking (PPB) said more of its branches will become cashless in 2026, building on changes implemented last year as the bank reconfigured parts of its traditional branch footprint.
In 2025, the group began repurposing selected branches by removing in-branch teller cash services, consolidating cash processing into strategically located centralised branches with enhanced capabilities.
The move reflects rising demand for advisory-led and digitally enabled banking, alongside a marked decline in cash transactions in certain areas.
“Our customers are telling us very clearly how they want to engage with us,” said Kabelo Makeke, CEO of Standard Bank PPB South Africa. “In many areas, cash usage has declined significantly, while demand for advisory-led, digitally enabled banking and complex servicing has increased.”
Makeke said the cashless branch strategy is aimed at improving convenience, expertise and service quality, rather than limiting access to cash. Customers who still require teller-based cash services will be supported through nearby branches that retain these facilities, as well as through ATMs and dedicated cash centres.
Read: Firms are going cashless, and that’s okay: Reserve Bank
“This is about remodelling access points,” Makeke said. “We are ensuring customers can still transact in cash where they need to, while creating branch environments that are more relevant to modern banking needs.” — © 2026 NewsCentral Media
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