Anybody signed up with Tymebank?

zerocool2009

Expert Member
Joined
Sep 4, 2009
Messages
4,603
I am sure they checked alright but 6% after 3 months with a R100k limit and 5.72% from the onset with no limits from African Bank does not sound bad. Tyme used to be excellent, it's now slightly ordinary.
Dont forget the behind the scene’s extra %

Personally for me its Tyme and then AB, then everyone else
 

ghoti

Karmic Sangoma
Joined
Jan 17, 2005
Messages
46,860
I want to know when I can use my bank card to do online purchases.
 

thechamp

Honorary Master
Joined
Feb 26, 2011
Messages
29,880
Looks like they are having issues with updating earned interest again, it's getting slightly tiresome.
 

Jonny_9

Well-Known Member
Joined
Oct 19, 2017
Messages
216
Perhaps this has been answered earlier in the thread- but if someone would be kind enough to inform me as to the reason that the max total Goalsaves can total R100k.

Why is this? Risk? Other reasons?
Will Tyme perhaps make it unlimited in the future?
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
25,269
Perhaps this has been answered earlier in the thread- but if someone would be kind enough to inform me as to the reason that the max total Goalsaves can total R100k.

Why is this? Risk? Other reasons?
Will Tyme perhaps make it unlimited in the future?
No answer from Tyme but it's probably that they don't want too much exposure to single individuals. The high interest rate is after all a selling point to get more people on board.
 

blunt

Expert Member
Joined
May 1, 2006
Messages
2,807
Anyone managed to add their card to snapscan? It's listed as one of the supported merchants on the TymeBank, when I try it just does a few loops trying to go to the bankserv OTP page and then fails.
 

Aharon

Executive Member
Joined
Sep 12, 2006
Messages
9,753
Nope can't get it working either. It seems to work through the capitec masterpass app which supports snapscan and zapper though
 

TymeGuy

Active Member
Joined
Nov 5, 2018
Messages
33
Hi Guys

It's been a long while since I've given you guys an update. A lot has been on the go!
  1. International eCommerce - we've offered "domestically acquired" eCommerce since late 2019, but are now live with International eCommerce. This is a complex space - we're still having some teething problems (we do monitor the issues you guys report here, and are attempting to address them, so please bear with us).
  2. Account Verification Services (AVS) - this is boring sounding stuff, but it's basically the inter-bank service that facilitates the verification of the relationship between an account and an ID. Without AVS, some debit orders cannot be switched and some payroll's will not allow salaries or wages to be switched. We're now live in the industry and are seeing rapid growth in customers switching both their debit orders and their salaries/wages. We're also working on ways to make it easier for customers to switch debit orders to their TymeBank accounts.
  3. EarlyPay - we're about to launch great new functionality called "EarlyPay" - which will mean that if your salary gets paid into a TymeBank account, your account will be credited a day earlier than it normally would be by the industry. We're able to do this because of how the inter-bank payments system works in SA - banks share payments files for certain types of transactions before settlement occurs. We've decided to pass this benefit on to customers (we're confident that we'll get paid, so we pay you early).
  4. Facial recognition identity verification on Android App- this is a feature that's been long in the making, but has allowed us to unlock lots of cool new functionality. We've partnered with a global market leader in facial recognition technology (FaceTec) that offers advanced anti-spoofing, liveness checking etc. We compare the images captured through the process to the photos on file at Home Affairs (ID and passport photos):
    • Account / profile upgrades - customers who previously joined via our web-based onboarding process, or who went through to a kiosk but struggled with fingerprint biometrics can now unlock their accounts / profiles using the TymeBank App.
    • New customers - new to TymeBank customers can get a Full-FICA bank account (including a maximum R100k GoalSave limit) without leaving the comfort of their home. You can SendMoney to anyone with a South African cellphone number. If the recipient banks with TymeBank, the transaction is free and clears instantly. If they don't (yet) bank with TymeBank, but are 16 or older and have an SA ID, they can open an account on the fly and the SendMoney voucher will clear immediately into their new account. The only reason to visit a kiosk is to collect your TymeBank debit card.
    • SME / Business accounts - new to bank customers are now able to open Business accounts: in the past customers needed to onboard at a kiosk to get a personal banking profile, and then get a business profile. Now, customers can onboard using facial recognition and open a business profile - all on your mobile device and in under 5 minutes! :thumbsup:
  5. Bulk SendMoney & Bulk EFT - this functionality allows customers to make payments to multiple beneficiaries in a really slick and efficient way.
  6. Bill payments - pay your monthly bills (public beneficiaries).
  7. Credit card payments - pay your monthly credit card bill at another bank.
  8. USSD - we now allow you to SendMoney, purchase airtime and electricity, and manage GoalSave via USSD by dialing *120*543# You can also check you balance for free by dialing *130*543# (and buy airtime for yourself even if you've run out completely).
  9. WhatsApp - We're just getting started on this: for now, register our call centre number 0860999119. Send a "hi" and you'll get your balance, an FAQ, and access to our callback service (this functionality is new and will expand in future).
  10. R20 SendMoney Campaign- we're about to launch a campaign - so this is an early heads-up for you guys;) -that'll reward you for helping us grow our customer base. Here's what you'll need to do:
    • Pick up to 10 lucky friends, colleagues, family or staff members that don't yet bank with TymeBank
    • Use SendMoney to send (a minimum of R10) to their mobile phone
    • Tell them how great TymeBank is (I've given you a long list of cool stuff to talk about above - but you may also want to mention Zero monthly account fees, best in market GoalSave interest, free cash withdrawals at PnP/Boxer, Smart Shopper rewards, and our lowest-in-the-market transaction fees!)
    • Tell them to open a TymeBank account (although they can open the account via the web / app / kiosk, they'll need to "follow through" and get a card at a kiosk to earn you your R20 reward).
    • Basically, this lets you give away R10 each to a bunch of people you like, and earn yourself a R10 profit for each one that gets a TymeBank card!
    • We're expecting a bit a rush on this promotion, so we've capped it (for now):
      • 25,000 rewards
      • 10 per customer
      • SendMoney transactions sent to non-TymeBank mobile numbers that haven't been "claimed" within 7 days are reversed back to the sender (which means that if only 5 of your initial batch of 10 friends do what you tell them to do, in a week you can try a different 5).
      • If we find this a good way of attracting quality new customers, we'll open the campaign back up - so please help promote TymeBank and help us attract people like you!

 
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