Anybody signed up with Tymebank?

[supersunbird]

Not sure if answered already but I asked a while ago what happens to the interest when the goalsaves hit max, does it get paid into the current account?

The limit applies to the deposits, not interest, so that remains in the GoalSaves...

 

[backstreetboy]

Can buy electricity as well now. Hopefully buying lotto tickets is next.

 

[zerocool2009]

Does a TymeBank app exist ?

 

[TheJman]

Does a TymeBank app exist ?

yup, at least in the google play store

 

[zerocool2009]

yup, at least in the google play store

Nothing on the IOS store ...

 

[cr@zydude]

Nothing on the IOS store ...

It's coming SOON.

 

[akescpt]

soon for the past.....

 

[scavern]

I am trying to wrap my head around GoalSave, does anyone have a clear, simple explanation for me?

 

[zerocool2009]

I am trying to wrap my head around GoalSave, does anyone have a clear, simple explanation for me?

You can max deposit R100 000 (in all your goal saves) -> in total.

When you start, you start at 6% ... then 7% the next month, then 9% in month 3

As easy as that. (and the max amount are also "profile dependent")

 

[supersunbird]

I am trying to wrap my head around GoalSave, does anyone have a clear, simple explanation for me?

Added to what zerocool said:

- its not an account, so no transfers into it or out of it, no debit order can run against it.
- if you want to take money out of a GoalSave, you need to take it all out, and the GoalSave is closed, and you can start a new one.

 

[B-Hawk]

Just got an SMS to confirm funds cleared. I did contact them via FB and was asked to upload a copy of slip. Haven't done that yet, so not sure if they did something on their side or if it just took this long to clear. Quite comforting that their reps are so prompt in response and seemingly eager to help out.

 

[TheJman]

Question, has anyone made use of the bonus interest paid by giving 10 days notice?

Trying to figure out their calc (feel like I'm missing something??)....

"The BONUS is calculated as 0.111 x interest earned. When this multiplier is applied to the bank launch interest rates, the maximum interest rate earnable is boosted from 9% to 10%"

So is it 0.111 x [total interest earned over the term of the goalsave]?

Eg:

- Goal Save has had R100k in it for year at 9%
- Assume simple interest earned is R9k at end of year
- Put in draw request and wait 10 days
- Calc is R9k x 0.111
Therefore total interest would be R9 999.00?

Can anyone confirm if this is how it worked when they withdrew?

 

[The_Librarian]

New android app update out...

...they're on the ball with this one.

 

[The_Librarian]

Got wife an account, eldest daughter is turning 16 soon, so we'll get her a card as well.

Tap to pay is a nice feature, but one have to be very careful of skelms... Any way of turning tap to pay off on the card?

 

[backstreetboy]

Got wife an account, eldest daughter is turning 16 soon, so we'll get her a card as well.

Tap to pay is a nice feature, but one have to be very careful of skelms... Any way of turning tap to pay off on the card?

AFAIK the bank covers the cost and over R200 it'll always ask you for your pin anyway.

 

[The_Librarian]

AFAIK the bank covers the cost and over R200 it'll always ask you for your pin anyway.

Nope. The two or three times I used tap to pay, it did not ask for my PIN.

 

[The_Librarian]

Can buy electricity as well now. Hopefully buying lotto tickets is next.

Will be cool if lotto winnings can be paid directly into your account instead of you having to run around to get it.

 

[scavern]

You can max deposit R100 000 (in all your goal saves) -> in total.

When you start, you start at 6% ... then 7% the next month, then 9% in month 3

As easy as that. (and the max amount are also "profile dependent")

Thanks! I am assuming that is 9% p.a and not each month...

 

[scavern]

Added to what zerocool said:

- its not an account, so no transfers into it or out of it, no debit order can run against it.
- if you want to take money out of a GoalSave, you need to take it all out, and the GoalSave is closed, and you can start a new one.

Thanks!

 

[zerocool2009]

Thanks! I am assuming that is 9% p.a and not each month...

Correct (per year)