Anybody signed up with Tymebank?

[TymeGuy]

Hey guys

I haven't visited here for a while, but thought I'd do one last update for 2019.

First, a clarification regarding EFT reversals:

1. If you make a payment to an account at another financial institution that doesn't exist, the transaction will auto-reverse. There is no charge for this (other than the initial R2 payment fee that applies to all payments to accounts held at other banks). The reversal may take a day or 2, depending on which bank is involved.
2. If you make a payment to an incorrect account, and ask us to attempt to reverse it, a number of things may happen:
   • If you do this before the inter-bank payment has occurred, we'll be able to reverse the transaction on our systems and return the funds to your account.
   • If the inter-bank payment has gone through, we'll contact the receiving bank, and they'll engage with their customer and do there best to get the money back. We pay the receiving bank R75 for performing this service. We currently don't pass any charges onto our customers - however, in the long term this is not sustainable and we'll need to start charging (most banks charge hundreds of Rands).

We'll bring our call center up to speed

In the past couple of weeks we've brought significant new functionality to market:

1. eCommerce - for now, we only support domestically acquired websites and services (where the card transactions are processed locally). We hope to roll out support for internationally acquired websites in the next few weeks (we need all the regulatory approvals to be in place before we go live).
2. Proof of bank account, proof of transaction - both available through our SmartApp and Internet Banking platform.
3. USSD - due to customer demand, we have rolled out (very limited) functionality on the USSD channel. This channel is clunky and expensive, but some of our customers don't have smartphones. For now, you can check your EveryDay and GoalSave balance and initiate SendMoney transactions. We will be closing down our Money Transfer service (which supports the sending of cash from a PnP/Boxer counter to another PnP/Boxer counter) in the next few weeks. Money Transfer costs R9.90 per transaction, and we believe customers will get a lot more value out of using SendMoney (in both cases, the recipient receives a TymeCode that can be cashed out at PnP/Boxer if they don't bank with TymeBank).
4. Changed cash deposit pricing to provide better value to most customers - we have made the 1st cash deposit each month free (which means you can deposit up to R5000 at no charge). After that, you'll pay R4 per R1000 - which is still by far the best value cash deposit pricing in the market.
5. Business accounts - we have made basic business accounts (and Visa Debit cards) available to a select group of customers, and we'll roll this out to the wider market shortly. We'll be building lots of small business functionality in 2020.

We've also been running our "Tyme to Popa with us" campaign - www.tymebank.co.za/tyme-to-popa-with-us:
transact 5 times for guaranteed prizes such as airtime, bus ticket discount coupons, and food vouchers. On top of this, your name is entered into a draw to win a cash prize - and there have been hundreds of winners: www.tymebank.co.za/competition-winners (only those winners that agreed to have their names published appear here).

To all our customers, have a safe and restful festive season, and wishing you all the very best for 2020. It's going to be a huge year for TymeBank!

Join TymeBank today!​

 

[Aharon]

Hey guys

I haven't visited here for a while, but thought I'd do one last update for 2019.

First, a clarification regarding EFT reversals:

1. If you make a payment to an account at another financial institution that doesn't exist, the transaction will auto-reverse. There is no charge for this (other than the initial R2 payment fee that applies to all payments to accounts held at other banks). The reversal may take a day or 2, depending on which bank is involved.
2. If you make a payment to an incorrect account, and ask us to attempt to reverse it, a number of things may happen:
   • If you do this before the inter-bank payment has occurred, we'll be able to reverse the transaction on our systems and return the funds to your account.
   • If the inter-bank payment has gone through, we'll contact the receiving bank, and they'll engage with their customer and do there best to get the money back. We pay the receiving bank R75 for performing this service. We currently don't pass any charges onto our customers - however, in the long term this is not sustainable and we'll need to start charging (most banks charge hundreds of Rands).

We'll bring our call center up to speed

In the past couple of weeks we've brought significant new functionality to market:

1. eCommerce - for now, we only support domestically acquired websites and services (where the card transactions are processed locally). We hope to roll out support for internationally acquired websites in the next few weeks (we need all the regulatory approvals to be in place before we go live).
2. Proof of bank account, proof of transaction - both available through our SmartApp and Internet Banking platform.
3. USSD - due to customer demand, we have rolled out (very limited) functionality on the USSD channel. This channel is clunky and expensive, but some of our customers don't have smartphones. For now, you can check your EveryDay and GoalSave balance and initiate SendMoney transactions. We will be closing down our Money Transfer service (which supports the sending of cash from a PnP/Boxer counter to another PnP/Boxer counter) in the next few weeks. Money Transfer costs R9.90 per transaction, and we believe customers will get a lot more value out of using SendMoney (in both cases, the recipient receives a TymeCode that can be cashed out at PnP/Boxer if they don't bank with TymeBank).
4. Changed cash deposit pricing to provide better value to most customers - we have made the 1st cash deposit each month free (which means you can deposit up to R5000 at no charge). After that, you'll pay R4 per R1000 - which is still by far the best value cash deposit pricing in the market.
5. Business accounts - we have made basic business accounts (and Visa Debit cards) available to a select group of customers, and we'll roll this out to the wider market shortly. We'll be building lots of small business functionality in 2020.

We've also been running our "Tyme to Popa with us" campaign - www.tymebank.co.za/tyme-to-popa-with-us:
transact 5 times for guaranteed prizes such as airtime, bus ticket discount coupons, and food vouchers. On top of this, your name is entered into a draw to win a cash prize - and there have been hundreds of winners: www.tymebank.co.za/competition-winners (only those winners that agreed to have their names published appear here).

To all our customers, have a safe and restful festive season, and wishing you all the very best for 2020. It's going to be a huge year for TymeBank!

Join TymeBank today!​

Nice updates
@TymeGuy does this mean the cash deposit limit is now 5k per transaction?

Happy new year and well done on the improvements through 2019

 

[|tera|]

@TymeGuy
Will the R75 fee be charged to my account since I've got a reversal case at the moment?

I paid money into an account that is closed.

 

[Pho3nix]

Hey guys

I haven't visited here for a while, but thought I'd do one last update for 2019.

First, a clarification regarding EFT reversals:

1. If you make a payment to an account at another financial institution that doesn't exist, the transaction will auto-reverse. There is no charge for this (other than the initial R2 payment fee that applies to all payments to accounts held at other banks). The reversal may take a day or 2, depending on which bank is involved.
2. If you make a payment to an incorrect account, and ask us to attempt to reverse it, a number of things may happen:
   • If you do this before the inter-bank payment has occurred, we'll be able to reverse the transaction on our systems and return the funds to your account.
   • If the inter-bank payment has gone through, we'll contact the receiving bank, and they'll engage with their customer and do there best to get the money back. We pay the receiving bank R75 for performing this service. We currently don't pass any charges onto our customers - however, in the long term this is not sustainable and we'll need to start charging (most banks charge hundreds of Rands).

We'll bring our call center up to speed

In the past couple of weeks we've brought significant new functionality to market:

1. eCommerce - for now, we only support domestically acquired websites and services (where the card transactions are processed locally). We hope to roll out support for internationally acquired websites in the next few weeks (we need all the regulatory approvals to be in place before we go live).
2. Proof of bank account, proof of transaction - both available through our SmartApp and Internet Banking platform.
3. USSD - due to customer demand, we have rolled out (very limited) functionality on the USSD channel. This channel is clunky and expensive, but some of our customers don't have smartphones. For now, you can check your EveryDay and GoalSave balance and initiate SendMoney transactions. We will be closing down our Money Transfer service (which supports the sending of cash from a PnP/Boxer counter to another PnP/Boxer counter) in the next few weeks. Money Transfer costs R9.90 per transaction, and we believe customers will get a lot more value out of using SendMoney (in both cases, the recipient receives a TymeCode that can be cashed out at PnP/Boxer if they don't bank with TymeBank).
4. Changed cash deposit pricing to provide better value to most customers - we have made the 1st cash deposit each month free (which means you can deposit up to R5000 at no charge). After that, you'll pay R4 per R1000 - which is still by far the best value cash deposit pricing in the market.
5. Business accounts - we have made basic business accounts (and Visa Debit cards) available to a select group of customers, and we'll roll this out to the wider market shortly. We'll be building lots of small business functionality in 2020.

We've also been running our "Tyme to Popa with us" campaign - www.tymebank.co.za/tyme-to-popa-with-us:
transact 5 times for guaranteed prizes such as airtime, bus ticket discount coupons, and food vouchers. On top of this, your name is entered into a draw to win a cash prize - and there have been hundreds of winners: www.tymebank.co.za/competition-winners (only those winners that agreed to have their names published appear here).

To all our customers, have a safe and restful festive season, and wishing you all the very best for 2020. It's going to be a huge year for TymeBank!

Join TymeBank today!​

No iOS app then? :|

 

[Krilliano]

Hey. Where/how can i check the interest rate I have earned since I openede the account. I can't find it on the App. TIA

 

[Swa]

Hey. Where/how can i check the interest rate I have earned since I openede the account. I can't find it on the App. TIA

App is full of issues. Try the web.

 

[mr_norris]

Hey. Where/how can i check the interest rate I have earned since I openede the account. I can't find it on the App. TIA

To earn interest you need to have created a goalsave. You won't earn interest on the Everyday account. Once it's in your goalsave, you start earning interest. There are two line items to look for:

* Interest accrued
* Interest earned (these are the actual payouts)

App is full of issues. Try the web.

There are? That's news to me. Been using the app since I signed up in Dec 2018. Your post is not helpful.

 

[Aharon]

Scroll through your goalsave transactions and you should see line items "new interest rate". This will show you the rate currently being paid

 

[Krilliano]

I have opened the 10 goalsaves. Just shows interest earned and money added but not the interest rates

 

[Swa]

To earn interest you need to have created a goalsave. You won't earn interest on the Everyday account. Once it's in your goalsave, you start earning interest. There are two line items to look for:

* Interest accrued
* Interest earned (these are the actual payouts)



There are? That's news to me. Been using the app since I signed up in Dec 2018. Your post is not helpful.

Many here have reported issues with the app not showing interest or showing it incorrectly. How is my post not helpful?

 

[Jacada]

Trying to pay a beneficiary and this keeps happening. I see we're off to a great start in the new year.

 

[HibiscusTunes]

Yeah, had the same on the 31st. It failed, I exited the app, and promptly received an sms stating the transfer was successful...

 

[Aharon]

Yeah, had the same on the 31st. It failed, I exited the app, and promptly received an sms stating the transfer was successful...

Did the receiver get the cash?

 

[HibiscusTunes]

Yes. Within 4 hours

 

[Jacada]

Yeah, had the same on the 31st. It failed, I exited the app, and promptly received an sms stating the transfer was successful...

No such luck here.

 

[werfie]

View attachment 761690

Trying to pay a beneficiary and this keeps happening. I see we're off to a great start in the new year.

I am not getting the OTP when trying to make payments, in some cases, it doesn't even show the enter OTP screen... on the Website.

 

[Jacada]

I am not getting the OTP when trying to make payments, in some cases, it doesn't even show the enter OTP screen... on the Website.

I am having the same problem now. Wanted to try my payment again but now the OTP is failing. Sigh.
Can someone maybe reboot the 486 which is running the backend??

 

[mr_norris]

I have opened the 10 goalsaves. Just shows interest earned and money added but not the interest rates

In the app, they only seem to show you the current interest rate your goalsave is on when it goes up. So you'll see lines like "New interest rate: 7%" and so on as it goes up. You start off at 6%, so if you haven't seen anything after that, that's what you're on.

On the website they show you the current interest rate under each goalsave name after you've logged in.

 

[alphabyte]

No iOS app then? :|

I am also still waiting for the iOS app; it has been promised as 'coming soon' but it does not even seem to be on the horizon.
And don't tell me that I 'can use the website' - this is not a proposition when you are out and about and quickly need to check on your balance. This lack is stopping me from using Tyme Bank as I would like to.

 

[backstreetboy]

I am also still waiting for the iOS app; it has been promised as 'coming soon' but it does not even seem to be on the horizon.
And don't tell me that I 'can use the website' - this is not a proposition when you are out and about and quickly need to check on your balance. This lack is stopping me from using Tyme Bank as I would like to.

Their website scales pretty darn well though.