Absa is taking cash out of more of its branches in South Africa, with 215 now cashless, up from 122, and a target of 456 over time.Absa said that only some of its South African branches will keep teller cash. Everyone else will be sent to ATMs, self-service machines and, later, local shops that act as banking agents. The reason, according to Absa, is that fewer people use branches for cash, and the counters are expensive to run. The change came with its results for the six months to 30 June 2026.More than 90 per cent of its retail customers have moved routine transactions to self-service channels, and about 90 per cent of deposits now go through ATMs and self-service devices. In 2019, more than half were still handled by tellers. The value of cash handled across its branches and ATMs fell 30 per cent between 2020 and 2025.Pieter van Eeden, Absa’s managing executive for integrated channels, said: “Customers are banking differently, and our branch frontline must keep pace with that change.” He added that cash still matters to many people and businesses, especially where other options are limited.Absa also says this isn’t about shrinking its footprint. Its branches grew from 551 in 2021 to 574 now. What’s changing is the type. Since June 2025, its smaller sales and service outlets rose from 122 to 215, while traditional branches fell 18 per cent to 359. Those two add up to the 574.Cost is behind it. CEO Kenny Fihla said cash-dispensing branches are substantially more expensive to run than cashless ones. On jobs, Fihla said the changes “wouldn’t necessarily result in massive retrenchment”. Absa has not said how many teller roles are affected.More is coming. Eighty-one branches have so far moved to an advisory service model. Before making network changes, Absa says it will assess local cash demand and nearby alternatives, adding device capacity where needed. It is also developing an agency model so customers in townships and rural areas can withdraw and deposit cash at local businesses.Absa’s explanation is that customers are moving to digital banking and fewer people are doing cash transactions, so it doesn’t need as many machines. It described the 2 per cent fall to 4,976 as part of that shift. It also said in 2025 that it reviews its ATM footprint deliberately as demand for cash changes.
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