Anybody signed up with Tymebank?

[e4et]

1. I'm saying no here because the answer is probably not what you had in mind. To get anything out of a goalsave, you have to cash the goalsave out. So you can route it out, but it takes everything with it.
2. Yes. This is mentioned in their documentation on the website and T&C's somewhere. Your contributions are capped, earnings is not.

So almost like a this:
If the limit is 20K, you can contribute 20K of your own money, but interest will keep on being added, even after hitting your 20K, until you make a withdrawal ?

 

[Filosofer]

So almost like a this:
If the limit is 20K, you can contribute 20K of your own money, but interest will keep on being added, even after hitting your 20K, until you make a withdrawal ?

Thanks. It would have been nice if we could route the interest to another account. Oh well.

 

[mr_norris]

So almost like a this:
If the limit is 20K, you can contribute 20K of your own money, but interest will keep on being added, even after hitting your 20K, until you make a withdrawal ?

That's correct. When you withdraw from a goalsave though, you have to withdraw the entire amount and not just a portion. I kind of had different ideas for it when I first signed up with Tyme, but through the months it's morphed into an emergency fund, so the way it works kind of suits me.

 

[3WA]

Thanks. It would have been nice if we could route the interest to another account. Oh well.

Make all your goalsaves, cash in one every three months, and transfer the interest away and the capital to your next goalsave. Then make a new goalsave. You should always be at 9% then.

 

[Jacada]

Thanks. It would have been nice if we could route the interest to another account. Oh well.

You could "prime" all your other goalsaves with R1 and wait for them to hit 9%. Then cash out the one you are saving in, transfer the interest to another account and put your savings back in the next goalsave. Rinse, repeat every month. It will be a pain but can be done.

EDIT: And 3WA was faster at typing than me

 

[kabusi]

EFTsecure – The leading EFT payment solution in South Africa

EFTsecure has become the first solution to add Tyme Bank, Bidvest Bank, Old Mutual Money Account and African Bank to its checkout options.

mybroadband.co.za

Sounds like this can be used for e-commerce purchases with a TymeBank card until they enable the functionality.

Has anyone used this functionality with Tyembank yet?

 

[Aharon]

Has anyone used this functionality with Tyembank yet?

Haven't seen a single site using them?

 

[kabusi]

Haven't seen a single site using them?

The introduction of useful features has been slow.
Like the availability of online payments will attract more customers to TymeBank, as will making the verification process more robust.
I cannot get my profile moved up to the from the "Just Met" level as it will not recognise my fingerprints and I am not keen on visiting Home Affairs.
This means I have to still retain my other bank account since I cannot have my salary deposited into it due to the low R20 000 limit.

 

[rodga]

Ok some issues that I think need to checked on your side @TymeBank @TymeGuy

1. Why is the list of banks not in alphabetical order when adding a beneficiary?
This makes it difficult to find the correct bank. See point 2.

2. I just tried adding a beneficiary for standard bank using my browser. It gave me an error saying that the "account number is incorrect for the bank or branch selected". These details were sent to me directly via the standard bank app. Then I saw when clicking on the branch dropdown it was showing standard bank namibia? wth? Decided to check if theres another standard bank that I maybe missed? Nope after going through the mixed jumble of a list I couldnt find anything else. Decided to use the app to add the beneficiary. It was added fine, but got the same error when trying to make a payment.

He sent me an fnb account which fine without any problems.

Then just to add, please can you provide some feedback on the following.

a. Fingerprint login
b. Proof of Payment (The reason im still using the browser is so I can take a pic of the transaction as proof)
c. Online purchases
d. New card linking with PNP smart shopper all resolved?

 

[ronz91]

Where are you looking for the notification?

Main page of the goalsave where it shows the previous 7%, where should I be looking?

 

[electrix]

From which other bank can you do instant/immediate/realtime payment to Tymebank. Anyone?

 

[Swa]

From which other bank can you do instant/immediate/realtime payment to Tymebank. Anyone?

Any bank that offers it?

 

[Antelope]

Any bank that offers it?

No
Tyme doesn't support it yet

It's one of the features on their long list that hasn't seen any real progress for some time.
(besides few small things that were rectified, no new features released)

 

[Swa]

No
Tyme doesn't support it yet

It's one of the features on their long list that hasn't seen any real progress for some time.
(besides few small things that were rectified, no new features released)

You mean they don't support making realtime payment? How could they not support receiving them?

 

[ronz91]

Main page of the goalsave where it shows the previous 7%, where should I be looking?

??

 

[Muks]

...
GoalSave
Thanks for highlighting the issue with the credit transaction for capitalised interest not being displayed correctly. Our techies are working on a fix. Rest assured that the running balance for your GoalSave (which should appear under the "Interest accrued" value next to today's date) should be correct, and if you elect to cash out one of your GoalSaves, the correct value will be paid into your EveryDay account. GoalSave still offers the best interest rate in the market, and your money is available whenever you need it.
...

This issue hasn't been resolved for August, there is no capitalised interest being displayed for 1 August.
It's a bit annoying because the balance on the detailed transactions does not make sense without this missing line item.
e.g. Balance displayed as at 1 Sep is lower than it should be, and current balance (although correct) cannot be reconciled with the transactions displayed.

 

[supersunbird]

From which other bank can you do instant/immediate/realtime payment to Tymebank. Anyone?

Any bank that has Tyme Bank showing and an instant EFT. Capitec Bank is the cheapest at R8. There are sometimes time-of-day restrictions where it cannot happen.

 

[Antelope]

Any bank that has Tyme Bank showing and an instant EFT. Capitec Bank is the cheapest at R8. There are sometimes time-of-day restrictions where it cannot happen.

I don't see that option on my capitec app?
I've done instant eft to other banks, but never saw it as an option from capitec or any other bank to tyme

 

[Aharon]

I don't see that option on my capitec app?
I've done instant eft to other banks, but never saw it as an option from capitec or any other bank to tyme

Banks will only show the option to compatible bank recipients. Tyme is not yet compatible

 

[JC Heat]

i wanna get a thymebank account what do you need to sign up for one if you go into the store to sign up