Reserve Bank’s ATM shake-up aims to improve access to cash

The South African Reserve Bank (SARB) is planning changes to how automated teller machines (ATMs) operate, with a move towards shared machines aimed at reducing costs and improving access to cash, particularly in underserved areas.

The proposal forms part of the SARB’s Cash Smart Strategy, a national programme designed to make cash more affordable, accessible and reliable as digital payments become increasingly common.

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Under the plan, so-called white-label ATMs would form a shared national cash-access network, rather than relying solely on infrastructure operated separately by individual banks.

The strategy aims to reduce duplication in ATM deployment, operations and cash transportation, while maintaining access for people who depend on physical money.

Although digital and mobile payments are expanding, the SARB recognises that cash remains important for everyday purchases, informal businesses and households that rely on it.

“Cash remains a foundational component of the economy, particularly for everyday transactions, informal markets and cash‑reliant households,” it said.

It continues to provide immediacy, universal acceptance and operational resilience when digital systems are unavailable.

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However, SARB stated that maintaining the cash system is expensive, with duplicated infrastructure, transport and handling costs contributing to inefficiencies.

“In some places, especially outside of big cities, cash is difficult to access, resulting in people having to travel long distances,” SARB said.

It is due to this that the Cash Smart Strategy came about.

The strategy, according to SARB, aims to address these challenges by consolidating parts of the cash infrastructure, improving co-ordination between industry players and creating more ways for people to access cash.

The SARB’s plan includes establishing a national cash utility to co-ordinate wholesale cash operations, developing an integrated cash-management system and introducing a regulatory framework to govern the system.

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White-label ATMs are intended to provide a shared cash-access network, helping reduce duplicated costs and support access in areas where existing services are limited.

The strategy also aims to improve the reliability of cash services and ensure that banknotes and coins remain safe and in good condition.

The SARB has identified maintaining customer trust and avoiding disruption to cash access as priorities during the transition.

The broader strategy seeks to make cash services more affordable for consumers and businesses, while ensuring that access remains fair across urban and rural communities.

The proposed changes form part of a wider effort to modernise South Africa’s cash infrastructure while preserving cash as a reliable option alongside digital payments.