Anybody signed up with Tymebank?

[Filosofer]

Thats good news! Get some money into those goalsaves!

So the best way to go about this is to put a little into all 10 so the interest rate clock can start. Am I right?

 

[Düber]

So the best way to go about this is to put a little into all 10 so the interest rate clock can start. Am I right?

I think that is what most have done. I opened all 10 and I am feeding each of them a little as money comes in.

 

[3WA]

So the best way to go about this is to put a little into all 10 so the interest rate clock can start. Am I right?

Yup. Open up all ten and start them off ASAP.

Then if you need to cash one out, the others are ready for to receive any leftover cash.

 

[cavedog]

Yup. Open up all ten and start them off ASAP.

Then if you need to cash one out, the others are ready for to receive any leftover cash.

Works best. Open all with R1. When take money out of a goalsave reopen with R1 so timer can start again when you do put money in.

Works really well and you earn decen money.

I use Tyme bank as my main and my fees was R45 last month but got like R60 in smartshopper points and got some money in my goalsaves.

Tyme Bank is basically paying me to use them. What is better than that...

 

[Deedees123]

Hey everyone my first time posting here, I like tymebank it's not bad though it's still taking me days to get through their phone lines, my card literally says declined if I swipe but I've got money in it, I've sent emails to tymebank and not a single reply I'm really dissatisfied though I like some features, like my card doesn't work which means I'm stranded this is real frustrating.

 

[Aharon]

Hey everyone my first time posting here, I like tymebank it's not bad though it's still taking me days to get through their phone lines, my card literally says declined if I swipe but I've got money in it, I've sent emails to tymebank and not a single reply I'm really dissatisfied though I like some features, like my card doesn't work which means I'm stranded this is real frustrating.

Hi, have you swiped your card at a pnp first? Their instructions said this is required to activate the card

 

[Filosofer]

Hi, have you swiped your card at a pnp first? Their instructions said this is required to activate the card

Is the card swiped when you deposit cash into it? I didn't do that but I'll probably have to go back to do it

 

[JOEY_8]

Card can be activated by making a purchase with the card at any shop. Make sure the chip is used and the card is not swiped, since this usually gets declined.

 

[Aharon]

The card may not be swiped for purchases or deposits. It will decline

 

[Deedees123]

Hi, have you swiped your card at a pnp first? Their instructions said this is required to activate the card

Hey I tried that too nothing works

 

[Aharon]

Hey I tried that too nothing works

Is your card enabled on the app? Money in your main account, not goal save?

 

[Antelope]

Hey I tried that too nothing works

As @Aharon mentioned, the card cannot be swiped, the chip side of the card has to be inserted into the machine, or tapped where it is supported.

 

[Deedees123]

As @Aharon mentioned, the card cannot be swiped, the chip side of the card has to be inserted into the machine, or tapped where it is supported.

Hey thank you, problem solved thank you, appreciate the help

 

[Antelope]

As @Aharon mentioned, the card cannot be swiped, the chip side of the card has to be inserted into the machine, or tapped where it is supported.

All machines will allow the card to be inserted, while not all support tapping to pay yet.



As for contacting them, try Facebook messanger, and a private message on mybb to @TymeBank

Don't expect any reply to your email or at least any meaningful response.


There are members here who will be able to provide any information that you might require. Most things related to using the bank was probably discussed on this thread previously.

 

[Jacob Mapharumela]

I think that is what most have done. I opened all 10 and I am feeding each of them a little as money comes in.

if you can put R100000 in each goalsave, then yes put it. if not no.you can just use one at time until it reaches R100000 mark

 

[Düber]

if you can put R100000 in each goalsave, then yes put it. if not no.you can just use one at time until it reaches R100000 mark

It would be very nice if you could put so much in, but the total of all the goalsaves together is R100k(If you have more than that lying around in cash it should be put to better use elsewhere.)
What I have done and what my eventual goal is to have all 10 either maxed out or at equal levels.
The reason being when you withdraw from a goalsave you need to withdraw the entire amount, not just a portion of it and then your interest rate obviously gets reset.
Therefore the "change" from what you took out can go into one of the other ones already at a higher percentage and you then open a new one to start the clock again should you so desire.

 

[Dean01]

Noticed something whilst overseas. There's a stark resemblance between tyme bank and common bank in Australia. Look , feel and even the products (Google it!) . Does Common wealth bank still have a stake in TymeBank?

 

[JOEY_8]

Noticed something whilst overseas. There's a stark resemblance between tyme bank and common bank in Australia. Look , feel and even the products (Google it!) . Does Common wealth bank still have a stake in TymeBank?

From ITWeb:
"TymeBank is owned by African Rainbow Capital (ARC), a company within business mogul Patrice Motsepe's Ubuntu-Botho Investments stable, making it SA's first majority black-owned bank. ARC bought the business from the Commonwealth Bank of Australia in November 2018."

 

[@Zaeem]

Does anybody have details of the allocation of smart shopper points?

I seem to have received R2 in points for March for over R5k of non-PnP spend which doesnt add up.

 

[Dean01]

From ITWeb:
"TymeBank is owned by African Rainbow Capital (ARC), a company within business mogul Patrice Motsepe's Ubuntu-Botho Investments stable, making it SA's first majority black-owned bank. ARC bought the business from the Commonwealth Bank of Australia in November 2018."

If it was bought completely , why did they still maintain the look and feel of Common bank? And even the products ? Surely then with no connection Tyme could be accused of copying ?