Anybody signed up with Tymebank?

The_Librarian

Another MyBB
Super Moderator
Joined
Nov 20, 2015
Messages
37,658
Another suggestion.

When withdrawing money from a GoalSave, you have the option to withdraw it as a lump sum, not something which many people would want.

Will it be possible to only withdraw what you need instead of the entire amount?
 

mr_norris

Expert Member
Joined
Jun 12, 2007
Messages
3,886
Another suggestion.

When withdrawing money from a GoalSave, you have the option to withdraw it as a lump sum, not something which many people would want.

Will it be possible to only withdraw what you need instead of the entire amount?
I think they did that on purpose. I guess it's to encourage saving and they probably need the all or nothing system for whatever they do with the money and to probably make the 9% interest rate sustainable. That's why I spread my dosh out to 10 goalsaves.
 

supersunbird

Honorary Master
Joined
Oct 1, 2005
Messages
60,142
Another suggestion.

When withdrawing money from a GoalSave, you have the option to withdraw it as a lump sum, not something which many people would want.

Will it be possible to only withdraw what you need instead of the entire amount?

I think they did that on purpose. I guess it's to encourage saving and they probably need the all or nothing system for whatever they do with the money and to probably make the 9% interest rate sustainable. That's why I spread my dosh out to 10 goalsaves.

Indeed, do 10 goalsaves, and they all don't have to be R10 000 each.

They can be 1 x R25 000, 2 x R15 000, 3 x R10 000, 3 x R5000 for example, or any combination of the R100 000.
 
Last edited:

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
8,832
TymeGuy .. special thanks for sorting my goalsaves and limits out !

I am now overall on R500 000 for goalsaves !

Thanks Thanks Thanks !
 

acidb

Expert Member
Joined
Nov 19, 2008
Messages
1,136
TymeGuy .. special thanks for sorting my goalsaves and limits out !

I am now overall on R500 000 for goalsaves !

Thanks Thanks Thanks !

How did you manage that? Thought total was R500000 for the account and maximum R100000 for goalsaves.
 

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
8,832
How did you manage that? Thought total was R500000 for the account and maximum R100000 for goalsaves.

My day to day accounts plus goalsaves are maxed to R500K (with I assume 5 goalsaves at R100k each).

On the "we are friends now" whoop whoop

"
Maximum account balances
Everyday account + GoalSave(s)
R500 000
GoalSave(s)
R100 000
"
 

supersunbird

Honorary Master
Joined
Oct 1, 2005
Messages
60,142
My day to day accounts plus goalsaves are maxed to R500K (with I assume 5 goalsaves at R100k each).

On the "we are friends now" whoop whoop

"
Maximum account balances
Everyday account + GoalSave(s)
R500 000
GoalSave(s)
R100 000
"

You mean 5 goalsaves at R20 000 each? If you have 5 goalsaves at R100 000 each, we demand the same opportunity!
 

3WA

Honorary Master
Joined
Sep 25, 2012
Messages
19,693
My day to day accounts plus goalsaves are maxed to R500K (with I assume 5 goalsaves at R100k each).

On the "we are friends now" whoop whoop

"
Maximum account balances
Everyday account + GoalSave(s)
R500 000
GoalSave(s)
R100 000
"

I think you have R400k in your everyday account not earning any interest. Unless Tymebank made unique rules for you.
 

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
8,832
You mean 5 goalsaves at R20 000 each? If you have 5 goalsaves at R100 000 each, we demand the same opportunity!

No .... I was on the middle profile, NOW Top !!!! Hands in da air ... (to the left) ... and (to the right).

LOL, love how the word "demand" pops up
 

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
8,832
I think you have R400k in your everyday account not earning any interest. Unless Tymebank made unique rules for you.

Go read the top profile rules ! (overall across maxed at R500 000), with max Goalsave at R100 000

I must say, Tyme made my day !!! Time to reconcile to get the max interest (without to pay SARS)
 

acidb

Expert Member
Joined
Nov 19, 2008
Messages
1,136
I think you have R400k in your everyday account not earning any interest. Unless Tymebank made unique rules for you.

This is how I understand it too. Max goalsave(s) amount limited to R100 000 total.
 
  • Like
Reactions: 3WA

3WA

Honorary Master
Joined
Sep 25, 2012
Messages
19,693

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
8,832
Maybe you can see why the two quotes above made people think you have R500k in Goalsave (which is obviously impossible).

Come on guys ....

This is the quote from my profile:

Everyday account + GoalSave(s) -> R500 000
GoalSave(s) -> R100 000

And I currently have 5 Goalsaves at 9% ......

So its R100 000 x 5 => Overall (as per the rules)
 

supersunbird

Honorary Master
Joined
Oct 1, 2005
Messages
60,142
Come on guys ....

This is the quote from my profile:

Everyday account + GoalSave(s) -> R500 000
GoalSave(s) -> R100 000

And I currently have 5 Goalsaves at 9% ......

So its R100 000 x 5 => Overall (as per the rules)

You're going to have to post a screenshot showing us you have R500 000 in your GoalSaves or else we can't believe you, because:

What happens if I exceed the maximum value for GoalSave?

The money you add across all your open GoalSaves cannot be more than R100 000. You will not be able to add more than that amount into your GoalSaves

What is the maximum value I can hold in all my GoalSave accounts?

The maximum is R100 000, plus the interest you have earned on your savings..

What is the maximum value I can add to GoalSave?

The maximum amount of money you can add to your GoalSaves depends on your profile, but it cannot be more than R100 000 in total across up to 10 GoalSaves. Read more about our profile limits in the EveryDay account FAQs.
 
Last edited:

3WA

Honorary Master
Joined
Sep 25, 2012
Messages
19,693
Come on guys ....

This is the quote from my profile:

Everyday account + GoalSave(s) -> R500 000
GoalSave(s) -> R100 000

And I currently have 5 Goalsaves at 9% ......

So its R100 000 x 5 => Overall (as per the rules)

Note the pluralisation of Goalsaves in bold in the quoted text above. R100k is the maximum ACROSS all goalsaves.

725458

 

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
8,832
Thanks for all the replies ...... Shacks (got all excited now). Well ... R20K to R100K across a jump.

I am busy cashing out banking accounts to move money. So it is then R100K

Thanks for confirming, and sorry for all the confusion
 

blunt

Expert Member
Joined
May 1, 2006
Messages
3,658
It is a max 100k overall in Goalsaves, a relative of mine put 200k in and the accounts were marked with negative interest (meaning where it shows the value of your interest earned it was a negative amount) to bring them down to the 100k
 
Top