Bank fees are only a third of what cash actually costs South Africans
Share of total R88.5bn annual consumer cash burden, by cost type — South Africa
R88.5bn
total annual consumer cash cost
51%
from crime risk, queuing and hidden fees alone
Bank charges are the most visible cost of cash — but they account for just 35 cents in every rand South Africans spend on physical money. The remaining 65% is absorbed invisibly: in time spent queuing, trips to ATMs and branches, exposure to theft and crime, and merchant fees consumers never see — exactly the friction that is pushing both retailers and individuals toward digital payments.
Daily Maverick · Source: SA Reserve Bank Cost of Cash study 2026
