Anybody signed up with Tymebank?

[newby_investor]

Anyone had an issue where you log in and it says "No account available, call us on XXX to resolve this."?

 

[backstreetboy]

Anyone had an issue where you log in and it says "No account available, call us on XXX to resolve this."?

Same here.

 

[newby_investor]

I phoned the line and got an automated thing saying "We are aware of the techincal issue and are working to resolve" or something like that, then it asked me if I still wanted to speak to someone.

So points for communicating, but ... not great. What if I wanted to make a payment? I really just wanted to check my balance but it could interrupt my ability to actually use the bank.

I currently use Tyme as a secondary account, I'd be reluctant to make it primary at this stage.

 

[FlashSA]

I currently use Tyme as a secondary account, I'd be reluctant to make it primary at this stage.

100% this.

 

[backstreetboy]

I phoned the line and got an automated thing saying "We are aware of the techincal issue and are working to resolve" or something like that, then it asked me if I still wanted to speak to someone.

So points for communicating, but ... not great. What if I wanted to make a payment? I really just wanted to check my balance but it could interrupt my ability to actually use the bank.

I currently use Tyme as a secondary account, I'd be reluctant to make it primary at this stage.

All banks go down sometimes. They fixed it already anyway...

 

[cavedog]

Looks like they are allowing foreign currency transactions now.

Paid my google Gsuite account now. They did not take any currency conversion fee by the looks of it.

View attachment 903840

View attachment 903842

Still R198.03 no other fees or reversal and charge again.

 

[Swa]

All banks go down sometimes. They fixed it already anyway...

I can't remember the last time Capitec was down let alone when I wanted to use it. Really this Tyme's main problem, nobody can rely on it for a primary bank.

 

[backstreetboy]

I can't remember the last time Capitec was down let alone when I wanted to use it. Really this Tyme's main problem, nobody can rely on it for a primary bank.

Beginning of July https://mybroadband.co.za/forum/threads/so-i-went-to-capitec.694410/page-90

 

[3WA]

I currently use Tyme as a secondary account, I'd be reluctant to make it primary at this stage.

Tyme is for saving/emergency fund, nothing else.

 

[zerocool2009]

Tyme is for saving/emergency fund, nothing else.

Pure savings @ a great rate ! Nothing more !

 

[newby_investor]

The problem with thinking of it that way is that it's not really sustainable.
The bank needs customers to actually use it in order to have a hope of generating a profit.

If it's just folks like us, parking cash for interest rate purposes... How do they actually turn a profit and stay in business?

 

[backstreetboy]

The problem with thinking of it that way is that it's not really sustainable.
The bank needs customers to actually use it in order to have a hope of generating a profit.

If it's just folks like us, parking cash for interest rate purposes... How do they actually turn a profit and stay in business?

They already have 1.2 million active clients so they just need a million more to break even...
https://mybroadband.co.za/news/bank...-tymebank-vs-discovery-bank-vs-bank-zero.html

TymeBank said at the end of July 2020 that it had reached over 2 million customers – 60% of which are active clients.

 

[3WA]

The problem with thinking of it that way is that it's not really sustainable.
The bank needs customers to actually use it in order to have a hope of generating a profit.

If it's just folks like us, parking cash for interest rate purposes... How do they actually turn a profit and stay in business?

That sounds like a problem for Patrice Motsepe, not me!

 

[TheChamp]

The problem with thinking of it that way is that it's not really sustainable.
The bank needs customers to actually use it in order to have a hope of generating a profit.

If it's just folks like us, parking cash for interest rate purposes... How do they actually turn a profit and stay in business?

All in good Tyme, get the customers first and then everything will follow.

 

[Swa]

They already have 1.2 million active clients so they just need a million more to break even...
https://mybroadband.co.za/news/bank...-tymebank-vs-discovery-bank-vs-bank-zero.html

What are their criteria? You need to make more from your customers than what you spend on them. Right now it looks more like people park their cash there and use it only as a backup.

 

[Gamer]

Hello all,
Some help please.
I'm wanting to open up some Goal Save accounts. Don't have anything with Tyme currently.
Can I just open GS accounts or must I first open a transaction account? I don't want monthly fees/don't intend on 'daily' banking with Tyme.

Thanks

 

[JOEY_8]

Hello all,
Some help please.
I'm wanting to open up some Goal Save accounts. Don't have anything with Tyme currently.
Can I just open GS accounts or must I first open a transaction account? I don't want monthly fees/don't intend on 'daily' banking with Tyme.

Thanks

You would need a normal savings account first, but their isn't any monthly fees. You only pay for certain transactions etc. All of it is here: https://www.tymebank.co.za/help-support/search/everyday-personal-account

 

[Aharon]

There are no monthly fees. Yes you need a transaction account to link goal saves

 

[Gamer]

Thank you for the quick replies!

 

[surface]

I currently use Tyme as a secondary account, I'd be reluctant to make it primary at this stage.

I will start using it when I see some sanity in their website. Just now transferred some money from everyday account to goal and whoosh - money is no where to be seen. This happens much too often these days.