Anybody signed up with Tymebank?

[mr_norris]

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

Congrats.

I also keep a tiny bit in my everyday account to shop at pick n pay when my checkers cap with FNB hits. Getting the best of both worlds here.

If I am honest though, pick n pay points are worth next to nothing so my tiny bit of shopping brings in next to no points

 

[mr_norris]

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

I was wondering what would happen if one transferred more than 100k in. I'd expect them to warn that you're going to blow the limit and deny you before allowing it. Very odd.

 

[blunt]

I was wondering what would happen if one transferred more than 100k in. I'd expect them to warn that you're going to blow the limit and deny you before allowing it. Very odd.

Yes I expected a hard cap, this is an odd way of going about it. They've tried putting money back in to put it up to 100k again and the money keeps bouncing back into the primary account after a day (disappears during that time despite it saying it was successful going in to the goalsave - balance stays 0) Logged a ticket, think something broke.

 

[3WA]

Congrats.

I also keep a tiny bit in my everyday account to shop at pick n pay when my checkers cap with FNB hits. Getting the best of both worlds here.

If I am honest though, pick n pay points are worth next to nothing so my tiny bit of shopping brings in next to no points

I also used to use the Tymebank card at PnP until I sat down and did the maths. eBucks inStore swipes (1.5% minimum) are better than Tymebank's SmartShopper double-up (0.5%). So if you haven’t maxxed your eBucks instore swipe, rather swipe FNB and still use your SmartShopper card.

 

[zerocool2009]

I was wondering what would happen if one transferred more than 100k in. I'd expect them to warn that you're going to blow the limit and deny you before allowing it. Very odd.

A friend of mine opened a Tyme Account. EFT'd R50 000 from FNB to Tyme

3 days later, the EFT was reverted from Tyme's side

 

[zerocool2009]

I also used to use the Tymebank card at PnP until I sat down and did the maths. eBucks inStore swipes (1.5% minimum) are better than Tymebank's SmartShopper double-up (0.5%). So if you haven’t maxxed your eBucks instore swipe, rather swipe FNB and still use your SmartShopper card.

My reason why I am opening up Tyme is because I am closing FNB accounts (for havings ebucks points), and the investments are very poor. But I am still on lv5

So the 9% is much better than 7% over 5 years (WITH NO FEES)

 

[3WA]

My reason why I am opening up Tyme is because I am closing FNB accounts (for havings ebucks points), and the investments are very poor. But I am still on lv5

So the 9% is much better than 7% over 5 years (WITH NO FEES)

Yeah, Tymebank for saving, eBucks for spending. I think my investment account at FNB returns 3.5% and has R80 in it.

 

[zerocool2009]

Yeah, Tymebank for saving, eBucks for spending. I think my investment account at FNB returns 3.5% and has R80 in it.

Well ... R300 000 with R200 in fees a month, and S H I T T Y growth (time or rather Tyme to review).

 

[Kosmik]

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

What happens to that interest? Can it not get paid out to the current account? @TymeBank , @TymeGuy

 

[zerocool2009]

What happens to that interest? Can it not get paid out to the current account? @TymeBank , @TymeGuy

I am sure the R100K limit is capital only (and not interest). any comments ?

 

[blunt]

I am sure the R100K limit is capital only (and not interest). any comments ?

Correct, interest earned doesnt count towards the 100k

 

[blunt]

What happens to that interest? Can it not get paid out to the current account? @TymeBank , @TymeGuy

Interest stays in the Goalsave, you have to close it and withdraw the whole lot

 

[zerocool2009]

A quick question for the guys with goalsaves ... Does it make sense to have lets say 5 goalsaves (compared to one)

 

[Thor]

A quick question for the guys with goalsaves ... Does it make sense to have lets say 5 goalsaves (compared to one)

I have many primed so main one then the others have R100 each which are all on 9% so when I get cash I fill them up and earn 9% from the get go.

 

[zerocool2009]

I have many primed so main one then the others have R100 each which are all on 9% so when I get cash I fill them up and earn 9% from the get go.

thanks for replying. I have 4 @ 9% and 3 @ 7% .....

Just wait for certain dividends to pay out (then spreading accordingly @ Tyme)

 

[supersunbird]

A quick question for the guys with goalsaves ... Does it make sense to have lets say 5 goalsaves (compared to one)

10 is even better, R10 000 each, then if you need R30 000, you can just close 3 to get R1000.

Or one can even gave 10 with varying amounts, say 1 x R20 000, 2 x R15 000, 3 x R10 000, 4 x R5000 for example.

 

[The_Librarian]

I have to assume that it is 9% per annum...

 

[Thor]

I have to assume that it is 9% per annum...

Correct

 

[TheJman]

I am so tempted to do this... how long have you guys been earning this 9%? And has anyone drawn their cash out of it?

 

[jman]

I am so tempted to do this... how long have you guys been earning this 9%? And has anyone drawn their cash out of it?

Since like December I think. And yes, I've cashed one out before with no issue