Standard Bank accelerates shift to cashless branches in 2026
As South Africa's banking landscape evolves, Standard Bank leads the charge in ushering in a new era of cashless transactions, ensuring customer convenience remains at the forefront of its branch transformation strategy.
Image: Motshwari Mofokeng/Independent Newspapers
Standard Bank’s Personal and Private Banking (PPB) division announced that it is rapidly advancing its move towards cashless branches in response to evolving customer preferences and a marked decline in cash transactions across various regions.
This strategic shift will see more branches convert to cashless operations throughout the year, transforming the conventional banking experience.
The initiative builds on a purposeful transition initiated in 2025, where the bank started repurposing traditional branches to align with a more modern, service-oriented banking model.
The changes include the phasing out of in-branch Teller Cash Services in selected locations, directing cash processing into significantly equipped centralised branches.
These branches have been enhanced to better serve customer needs and improve operational efficiency.
Kabelo Makeke, CEO of Standard Bank Personal and Private Banking South Africa, highlighted the bank's responsiveness to customer requests, noting an observable decrease in cash use while demand for advisory-led and digitally enhanced services has surged.
“Our customers are telling us very clearly how they want to engage with us. In many areas, cash usage has declined significantly, while demand for advisory-led, digitally enabled banking and complex servicing has grown,” Makeke stated.
This shift to a cashless model is designed to ensure that investment is directed towards what matters most—convenience, expertise, and better service in locations that are accessible to customers.
For those who still rely on teller-based cash services, provisions will remain available at nearby branches. Additionally, other transaction channels such as ATMs and dedicated cash centres will continue to be available for deposits and withdrawals.
Importantly, Makeke stressed that the transition to cashless branches is centred on providing choice rather than exclusion.
“This is about remodelling access points. 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,” he explained.
The cashless strategy reflects Standard Bank's broader commitment to sustainability, operational efficacy, and long-term growth, while simultaneously focusing on promoting financial inclusion throughout South Africa.
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