Anybody signed up with Tymebank?

[SarelSeemonster]

Hmmm lemme try another email address then, maybe my ISP is blocking it (did check the spam folder). Luckily easy to change on IB I see.

Received instantly at a GMail address so something else is wrong, either my end or the ISP's end. Sorry TymeBank.

Do wish one could download the statements directly from IB instead of email them.

 

[SarelSeemonster]

Just like it’s “easy” to request a statement on IB

I did "easily" request it on IB, quite a few times actually, website and app, over a few hours. Problem was the emails never arrived, for whatever reason.

 

[CartoonFan]

TymeBank card doesn't work on Scoot food delivery or Loot.co.za either

 

[Steamy Tom]

Hi All, im considering opening up a thymebank account for the goal save interest rates.

some quick Q's (please don't hate i dont want to read through 258 pages)

what are teh fees on EFT to other banks?
a goal save is max 100k right across 10 goal save accounts? I heard you can somehow bump this up eventually?
any other hidden fee's or things to really consider?

 

[backstreetboy]

Hi All, im considering opening up a thymebank account for the goal save interest rates.

some quick Q's (please don't hate i dont want to read through 258 pages)

what are teh fees on EFT to other banks?
a goal save is max 100k right across 10 goal save accounts? I heard you can somehow bump this up eventually?
any other hidden fee's or things to really consider?

1. Free
2. 100k maximum excluding the interest. They'll have notice savings accounts sometime as well.
3. Nothing much. Account, DO's and EFT's are all free. Cheapest bank account around.

 

[3WA]

Hi All, im considering opening up a thymebank account for the goal save interest rates.

some quick Q's (please don't hate i dont want to read through 258 pages)

what are teh fees on EFT to other banks?
a goal save is max 100k right across 10 goal save accounts? I heard you can somehow bump this up eventually?
any other hidden fee's or things to really consider?

Free!
Yeah, R100k max. Some people opened up business accounts and may have increased the limit but I don't know how that works.
Most common things are free: see link below.

Everyday Banking Fees

www.tymebank.co.za

 

[blunt]

Free!
Yeah, R100k max. Some people opened up business accounts and may have increased the limit but I don't know how that works.
Most common things are free: see link below.

Everyday Banking Fees

www.tymebank.co.za

last i checked you can open a business account which allows you to have another 10 goalsaves but still at the 100k cap in total between your personal and business (sole prop) account.
only real benefit is now you can split your 100k up into 20x5k pockets instead of 10x10 (or whatever amounts you like but you can split it 20 ways instead of only 10).

 

[Awesum]

last i checked you can open a business account which allows you to have another 10 goalsaves but still at the 100k cap in total between your personal and business (sole prop) account.
only real benefit is now you can split your 100k up into 20x5k pockets instead of 10x10 (or whatever amounts you like but you can split it 20 ways instead of only 10).

Whats the advantage of splitting Goalsaves?

 

[3WA]

Whats the advantage of splitting Goalsaves?

After you hit the R100k cap, if you have 10xR10k goalsaves, and you've built up significant interest to go above R100k balance, you can close one goalsave while leaving most of your money to still compound.

 

[blunt]

Whats the advantage of splitting Goalsaves?

you cannot partially withdraw from a Goalsave, you need to close the whole thing and then if you start it again it starts at the base level interest and you have to wait 90 days for it to get up to the max interest again.
people generally "prime" 20 goalsaves with say, R10, and leave them to get to the max interest percentage and then when you've got enough to put into it it's already at the max interest.
not sure if tyme has done anything about that 'loophole' yet

 

[Swa]

Whats the advantage of splitting Goalsaves?

Some people prefer to have smaller goalsaves of different amounts in case they have to cash out. You can also have all of your goalsaves primed so that you can then move any unused funds to another one and get the maximum interest from the start.

 

[backstreetboy]

Whats the advantage of splitting Goalsaves?

As above. Also to compartmentalize. 1 for holiday, 1 for car service, 1 for house renovations etc.

 

[Smokey mcpot]

TymeBank card doesn't work on Scoot food delivery or Loot.co.za either

I've used my card on both of the above... my daughter uses scoot quite often linked to my card.

 

[Awesum]

After you hit the R100k cap, if you have 10xR10k goalsaves, and you've built up significant interest to go above R100k balance, you can close one goalsave while leaving most of your money to still compound.

you cannot partially withdraw from a Goalsave, you need to close the whole thing and then if you start it again it starts at the base level interest and you have to wait 90 days for it to get up to the max interest again.
people generally "prime" 20 goalsaves with say, R10, and leave them to get to the max interest percentage and then when you've got enough to put into it it's already at the max interest.
not sure if tyme has done anything about that 'loophole' yet

Some people prefer to have smaller goalsaves of different amounts in case they have to cash out. You can also have all of your goalsaves primed so that you can then move any unused funds to another one and get the maximum interest from the start.

As above. Also to compartmentalize. 1 for holiday, 1 for car service, 1 for house renovations etc.

Thank you,
So basically I should put R1 in each of my GS accounts and I can max out 1 GS account, then when i need to cash out, i can close the big one and start with one of those that has R1 and is already primed with the max rate?

 

[Swa]

Thank you,
So basically I should put R1 in each of my GS accounts and I can max out 1 GS account, then when i need to cash out, i can close the big one and start with one of those that has R1 and is already primed with the max rate?

If you want to do it like that yes.

 

[backstreetboy]

Thank you,
So basically I should put R1 in each of my GS accounts and I can max out 1 GS account, then when i need to cash out, i can close the big one and start with one of those that has R1 and is already primed with the max rate?

Whatever floats your boat. I have a bunch of closed goalsaves. Since Tyme is digital I doubt they really care as well.

 

[cavedog]

Some interesting info about Tyme Bank.

• Our customers have made 100 million transactions for FREE (and we charge very little for the few things we do charge for!)
• Our customers earned 814 million Pick n Pay Smart Shopper points since January 2020.
• In the past 6 months alone, our customers have deposited 10 billion rand into their TymeBank accounts.

 

[electrix]

This this sms fraudualent

Tyme Bank Support Team:--:SendMoney received. Your TymeCode is xxx xxx xxx. Tap https://bit.ly/xxxxxxx to redeem voucher.Expiry 30 Apr

Received from number +27 78 654 5664

Anbody can advise

I didnt send money or am expecting any money

Info From trucaller

 

[Steamy Tom]

This this sms fraudualent

Tyme Bank Support Team:--:SendMoney received. Your TymeCode is xxx xxx xxx. Tap https://bit.ly/xxxxxxx to redeem voucher.Expiry 30 Apr

Received from number +27 78 654 5664

Anbody can advise

I didnt send money or am expecting any money

You should probably ask the bank and not us

 

[zerocool2009]

I have a few friends who complained its such a mission to eft money out!

I can clearly see why. I tried 2 times, errors, now I need to call them

“Tyme guy: please address”! On eft processes zero technical issues are allowed”, its a basic banking function