SA Banks Support SARB Plan for White-Label ATMs

Five major South African banks have signalled support for the South African Reserve Bank’s proposed transition to white-label ATMs, a structural shift outlined in a June 2026 position paper aimed at ending bank-branded cash machines across the country.

Reserve Bank Strategy Targets Shared Cash Infrastructure

The South African Reserve Bank (SARB) detailed its strategy in its Position Paper on Cash in South Africa published in June 2026. Under the proposal, white-label ATMs would operate independently of any specific bank brand. The central bank views these machines as a critical access mechanism for sustaining cash availability as bank-owned infrastructure undergoes rationalization. The SARB stated that white-label units form part of a utility-coordinated access layer designed to facilitate geographic rebalancing, improve reach in underserved areas, and reduce transit time and travel costs.

ENSAfrica noted that the strategy could fundamentally alter cash access by allowing customers to withdraw funds below a prescribed threshold without incurring fees. While detailed pricing arrangements and thresholds remain unfinalized, the proposal addresses a clear commercial mismatch. Maintaining bank-owned ATMs in rural communities, townships, and lower-income areas often lacks commercial viability for individual lenders. In urban centers, a closed ATM creates minor inconvenience, but in underserved regions, it forces longer journeys and higher transport costs.

To tackle this, the SARB intends to treat cash access as shared national infrastructure through the establishment of a National Cash Utility. This utility aims to streamline cash operations and eliminate duplication across competing networks.

Major Banks Detail Their Positions on the Transition

Capitec stated that it supports the central bank’s objectives of making cash affordable and accessible. Having participated in discussions since the inception of the Cash Smart Strategy and Payments Ecosystem Modernisation Programme, the bank brings the perspective of 26 million clients with diverse financial needs and digital access levels.

FNB Cash CEO Marnis de Jager said his bank supports efforts to advance financial inclusion and expand cash access. FNB has engaged proactively with the SARB on the white-label model and the inclusion of cash centers within the National Cash Utility, dedicating resources to shape the future operating model. De Jager emphasized that any future framework must deliver sustainable benefits while preserving operational resilience, security, service quality, and long-term commercial viability.

Standard Bank confirmed its commitment to supporting the Cash Smart journey. The lender noted that any ecosystem changes must maintain reliable access for customers and merchants while boosting overall efficiency and resilience.

Nedbank reported ongoing participation in bilateral engagements convened by the SARB. According to the bank, discussions remain consultative as stakeholders evaluate the proposal and its operational implications.

Absa managing executive for group communications Daniel Munslow said the bank is engaging with the central bank on modernising cash distribution. Absa views the evolution of the cash ecosystem as an opportunity to broaden access through a mix of ATMs, white-labelled machines, retail partnerships, and alternative service points alongside growing digital payment channels.