Anybody signed up with Tymebank?

[Swa]

They pay the best interest

Not on the main account which they want you to use.

 

[Speedster]

Not on the main account which they want you to use.

Nobody in SA pays any interest worth mentioning on a cheque account.

 

[blah99]

Lol it's a free bank account... No need to get your panties in a bunch.

What's free got to do with anything? We're talking about their non existing customer service. Try to keep up.

 

[supersunbird]

Not on the main account which they want you to use.

Then don't be a hamster running on their wheel, use the things how you want to use them for your own benefit, not how they want you to use them.

I'm sure FNB are like, "look at this guys credit score, why does he only have an Easy account with us? We want him to use the gold account" Pfft, good luck with that FNB, I won't use the gold account.

 

[cavedog]

My issue is resolved.

I called the call centre again and he said cardops so I lost it.

I forced him to send it to card ops and cc me in the mail.

2 hours later I get an email saying the disputed transactions has been reversed.

So easy why give me the runaround first. Anyways the guy that I forced to send the mail actually sorted it out so happy with the end result.

Please don't do that again Tyme Bank. I have been using you since day 1 and my salary has been deposited since that day I don't want to switch so don't make me.

 

[TheChamp]

Then don't be a hamster running on their wheel, use the things how you want to use them for your own benefit, not how they want you to use them.

I'm sure FNB are like, "look at this guys credit score, why does he only have an Easy account with us? We want him to use the gold account" Pfft, good luck with that FNB, I won't use the gold account.

And how is that a problem anyway? They want you to deposit your salary into the main account and give extra interest on your goalsave, am I missing something or what exactly is Swa's beef?

 

[Swa]

Then don't be a hamster running on their wheel, use the things how you want to use them for your own benefit, not how they want you to use them.

I'm sure FNB are like, "look at this guys credit score, why does he only have an Easy account with us? We want him to use the gold account" Pfft, good luck with that FNB, I won't use the gold account.

This may come as news but when you use things for your own benefit you find that they eventually cease to exist anyway. Tyme's model is an unsustainable one without people using the bank. So they focus on the salary by making the problem even worse. Meanwhile nobody wants to use them without them being reliable.

 

[zerocool2009]

Had a chat with my neighbor last night. Tyme took 3 days to clear his salary! Thats just sad.

 

[Aharon]

Had a chat with my neighbor last night. Tyme took 3 days to clear his salary! Thats just sad.

It was all related to this error.

 

[Quicks]

Had a chat with my neighbor last night. Tyme took 3 days to clear his salary! Thats just sad.

Could be because of this?

"
On the (15th of December 2020) we discovered a small glitch in our systems and payments which resulted in payments not being processed correctly.

The fix required us to temporarily disable payments and EFTs to other banks and institutions.

We apologise for the inconvenience this may have caused.

The TymeBank Team"


???

 

[Aharon]

It is, they froze all efts in and out

 

[Tjoker]

Switching salary to Tymebank from January 2021. Bye bye FNB(Was a Private Client up until yesterday)

 

[Aharon]

Can anyone confirm EFT timelines are back to normal?

 

[zerocool2009]

Switching salary to Tymebank from January 2021. Bye bye FNB(Was a Private Client up until yesterday)

I would love to hear your experience 3 months from now.

So, with who are you going credit card wise?

 

[supersunbird]

Switching salary to Tymebank from January 2021. Bye bye FNB(Was a Private Client up until yesterday)

May the odds be ever in your favour

 

[Tjoker]

I would love to hear your experience 3 months from now.

So, with who are you going credit card wise?

I had a couple of very bad experiences the last 6 months with my private banker, even got a new one. At the end FNB did not want to accomdate me and I said, F this, you lose me as client. I started by downgrading(massive headache BTW) all my accounts in October. This month everything is paid up. No more CC for me

 

[Aharon]

Has anyone noticed the SmartShopper earnings have gone down and down and down? What is the earn rate now?

 

[MirageF1]

<= 0.5% looking at my monthly spend (excl PnP) , and the small change returned.

 

[MikeCTZA]

I thought it was always 0.5% rand value back - well ... from PnP site R2 earns 1 point so I guess thats what we get from Tyme when not using PnP, I did 2 big R6k purchases a month ago on my card and expected to see R60 back but my points were as normal. I likewise did a large purchase this month so will se next time how it reflects. I'm not overly worried but would be nice to see a statement of SmartShopper points somehow.

 

[TymeGuy]

Hi guys

It's been a long time since my last post, and it's been a really tough year (for all of us). I'm on leave with my family, but thought it'd be good to give you an update on where we are as TymeBank, where we're headed in the future, and to try to answer some of your questions.

As many of you have noted, we experienced a technical incident earlier this week which saw customers' accounts being incorrectly credited with amounts from a previous EFT file. We scrambled to reverse the incorrect payments - but unfortunately some customers were inconvenienced in the process. Rest assured that none of our customers lost any money - we do, however, apologise unreservedly.

Where are we?
Building a bank from scratch is tough... just ask our friends over at Discovery and BankZero. We've been steadily adding services and features, always trying to find a balance between working to improve the reliability and usability of the existing platform, versus launching something new. To date, nearly 2.6m customers have joined TymeBank - and this has at times stretched our support infrastructure to the point where we've been unable to deliver the levels of service we want to be known for. Our business model is predicated upon building scalable, robust digital processes, which allows us to keep our operating costs at levels dramatically lower than our competitors. This, in turn, is what allows us to offer such competitive pricing on EveryDay and great interest rates on GoalSave.

This year, we've added:

• eCommerce (domestic and international) - use your TymeBank Visa Debit card for online purchases
• EarlyPay - we process incoming dated EFTs a day earlier than the industry. This means TymeBank customers receive their salaries a day earlier than salary payments made to other banks.
• GoalSave Salary Kicker - customers who have their salaries paid into their TymeBank EveryDay accounts qualify for an extra GoalSave interest rate kicker - taking the maximum interest rate earned from 7% per annum to 8% per annum.
• Bill payments (payments to "listed beneficiaries that require a structured reference)
• Value Added Services purchases (Electricity, Entertainment, Food & Travel - including Uber and Uber Eats, Gaming, WiFi & VoIP, Insurance, 1ForYou)
• AVS (Account Verification Service) - this is the service that allows a check to be run to confirm the account holder identity (important for loading debit orders and payroll)
• RICA on kiosks - working with Pick n Pay and Boxer, customers are now able to RICA SIMs purchased in store
• Insurance - we have various insurance partnerships and intend to offer a range of great value insurance products

Pricing
We've also recently announced changes to our pricing, with a big focus on ensuring we're still the best value for money bank account in South Africa (no one else comes close).



The biggest change we've made is the zero rating of all EFT payments and debit orders.

GoalSave
TymeBank's GoalSave savings product offers the best interest rates and the most flexibility of any bank savings product in South Africa. With GoalSave you earn interest at up to 8% per annum, with monthly compounding:

• 4% from day 1
• 5% after 30 days
• 6% after 60 days
• An additional bonus (taking the maximum rate up to 7%) if you give 10 days notice
• A "salary kicker" that takes the maximum earn rate to 8%

Smart Shopper
TymeBank customers still earn 1SS/R2 spent in Pick n Pay (physical stores and online), and 1SS/R10 on any card purchase outside Pick n Pay. This is in addition to the Smart Shopper points Pick n Pack awards (for purchases in their stores and at BP fuel stations). We're working on more tightly integrating with the Smart Shopper programme:

• Awarding points earned in Pick n Pay at point of sale (i.e. the extra points will reflect on your till slip)
• Displaying a breakdown and total of all points earned inside our digital channels

What's coming next?

MoreTyme​

We currently Beta testing our new "buy now pay later" product with a handful of customers and retail partners (Pick n Pay cellular and NWJ). With MoreTyme you pay 50% upfront, 25% after 30 days and the final 25% another 30 days later - and pay no interest and no fees. We will be making the product available more widely in the coming weeks. We're also concluding agreements with a range of retail partners... watch this space!​

​

RTC / Instant EFT​

RTC stands for "Real Time Clearing". Also known as "Instant EFT". We've been working on joining this inter-bank payment stream, and it'll be live in the 1st quarter of 2021. This will mean that TymeBank customers can be paid instantly from other banks' accounts, and our customers will also be able to make payments instantly to other banks' accounts. We'll price this service in the same way as we've priced all our services - always trying to ensure that our customers get the best deal available.​

​

iOS App​

The TymeBank iOS App will (finally!) be available for download on Monday, 21 December. This is a Beta App that won't yet have all the functionality of the Android App, but we figured you guys would rather have 80% now rather than wait for 100% in 3 months' time.​

​

Credit Card​

We have been working on a special TymeBank credit card for over a year. The SA economic environment hasn't been conducive to the launch of a new credit product, but we're hoping that'll change in the next few months. We'll keep you posted.​

Why should you and your family join TymeBank today?

• No downside to try us out - it'll take 5 minutes of your time (join online or using our Android App or at a Pick n Pay or Boxer store), and there are no monthly fees. If you don't use the account, it'll cost you absolutely nothing.
• Most of our customers save R100+ in bank fees every month (some save much more!)
• You'll earn the best possible interest rate on your savings - and still be able to access your money immediately if you need it.
• You can use SendMoney to send money to your friends, family or staff (free to TymeBank customers, R6 to cash out at Pick n Pay or Boxer)
• Buy airtime and electricity and pay no fees (other banks charge a transaction fee)
• WIthdraw cash at Pick n Pay or Boxer tills for free
• Deposit cash at Pick n Pay or Boxer tills for less than half the cost of performing a cash deposit into one of our competitors accounts
• Make payments (EFTs to TymeBank or other banks' customers) or debit order payments for free.
• Use your TymeBank Visa Debit card to make online purchases (some customers use their TymeBank account as a secondary account because they want to protect the funds in their primary account).
• We'll help you switch your debit orders (call our call centre and ask for help)

It's tough convincing customers to switch banks. We're seeing more and more people try us out (often attracted by one of the services listed above), enjoy their experience (despite a few hiccups here and there) and then commit more and more of their banking activities to TymeBank. Many of you have observed that we're trying to motivate customers to switch to us - and that is absolutely right. To build TymeBank into a sustainable business in the long term we need to attract and retain quality customers.

Wishing all of you a safe, relaxing and joyous festive season.

/TymeGuy