Hi guys
As always, the TymeBank team has been hard at work improving our systems and processes, and enhancing our value proposition. We're rapidly speeding towards 200,000 customers, with many thousands of new customers joining every day.
What have we been up to?
- Our bank kiosks are now available in over 600 PnP and Boxer stores
- The kiosks themselves have seen substantial improvements in reliability (we've honed the application running on the kiosk, introduced sophisticated monitoring of the health of various kiosk hardware components, and tweaked some of the kiosk hardware).
- We have improved our secure DIY password and PIN reset processes, available here.
- The technical integration with Smart Shopper has been overhauled and is now much more reliable. Customers whose TymeBank cards were not properly linked to Smart Shopper have been identified, and the bulk of these have now been correctly linked. We intend to keep working on this until every customer that indicated that they wish to participate in the Smart Shopper program is linked (if you're one of the few whose card still isn't linked, there is no need to contact us, we're on it!).
- The technical work at BP that’ll allow TymeBank cards to be recognized as Smart Shopper cards is almost complete – once it’s up and running, we’ll be sure to inform you.
- We are also still working on enabling eCommerce transactions, as well as transactions outside South Africa.
- We're in the final stages of introducing a secure process that will allow customers to change the cellphone number associated with their banking profile. When you join TymeBank, your banking profile is protected by the link we establish between your ID and your cellphone number - and we take the risks that breaking this link could introduce extremely seriously (which is why this functionality has taken some time to develop).
Sometimes, we've dropped the ball...
On this forum, and through other communication channels, some customers (or individuals wanting to become customers) have expressed frustration regarding specific problems they've experienced. We acknowledge that we've still got lots of work to do, but our team are working incredibly hard to help in any way we can.
In some cases, a customer will make a simple-sounding request which we struggle to deal with, and may then become disgruntled. It's worth exploring some examples, in the hope that this will provide context and help manage expectations. But first, some facts around our business model:
- We've built South Africa's first truly digital bank, with a (relative to the big banks) small group of truly dedicated staff.
- Only through automated or user-driven processes can we keep our running costs down.
- If we can't keep our running costs down, we won't be able to continue to offer our best-in-market pricing and interest rates.
- We cannot solve for every customer's needs. This means that there will be customers who are unable to join us, or are unable to unlock their profile fully, or for whom our products do not work exactly as desired. Over time, we'll introduce capabilities that'll allow us to serve more customers' needs.
- We can't allow manual processes to creep in to solve for an issue experienced by a minority, because this will dramatically push up our running costs (and we’ll end up looking like all the other banks, and charging the same fees!)
- Our strong preference is to completely eliminate the need for customers to interact directly with our staff, because every time this happens it costs money, and results in costs we’ll need to recover somehow. We’re continuously monitoring the problems our customers are experiencing, and either working on eliminating the cause of the problem, or building a DIY digital process so that customers can help themselves.
Despite this, we do hear all those who have expressed just how frustrating it’s been interacting with our call center – and to help address this we’re increasing capacity (training more agents + non-call centre staff helping out). Most of our staff have also been lending a hand answering emails and social media posts. In addition, we’ve been working on the content that appears in our
FAQ – you’ll now find answers to a
great deal of common questions there (no need to email us or call the call center

). If there are specific questions that you believe many customers or potential customers would like answered, please post them in this thread, and we'll incorporate the answers into the FAQ.
Some specific issues
1. Customers wishing to close their accounts
We have to focus our limited resources on the areas that generate the maximum positive impact for our customer base. We anticipated that very few customers would ask us to close their accounts, and this has proved to be true thus far.
We have not built a digital process to facilitate account closure. The reason is very simple: we charge no monthly fees. If you don't like our product, simply stop using it. Banking profiles that have no activity on them for a year, and have a zero balance, will be automatically closed. There is absolutely no reason to waste time engaging with our call center or via any other channel to close your account (also note that closing your account isn’t the solution to “reset your profile” – please bear with us a little while longer while we implement a solution for the actual problem you’re trying to solve).
2. Customers wanting a proof of account, proof of transaction or bank statement
We have manual processes in place, but are busy working on more elegant solutions for each of these because many customers are impacted:
- Monthly bank statements are sent out to all active customers who have supplied email addresses. We will soon provide functionality on our SmartApp and Internet Banking that will allow customers to request statements.
- We are working on an automated "proof of transaction" email feature.
- We will be rolling out an enhanced “welcome pack” for new customers which will include a “Proof of Account” letter.
We’re really excited about how South Africa has reacted to the launch of TymeBank.
If you haven’t done so yet, check us out at: