Digital banking price comparison - Bank Zero vs TymeBank vs Discovery

Jan

Jan

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Tymebank does offer in-app notification for free. Why then do you not have them on R0 and remove the SMS notification as Bank zero doesn't have the latter?

Trying to make Bank zero seem better when they are not in this particular comparison.
 
Never had a chance to Upgrade via the App on TymeBank (Homo Affairs not available, and I cbf to go do fingerprints at a kiosk for them). So I went ahead and used Capitec for day to day stuff.

Their fixed rate for 6 months at Tyme - 10% is not too bad though.
 
I had a few incidents where an actual bank branch would have been great!
A debit order I ended went through and there was nothing I could do to get help with my Tyme Bank account. With Capitec it's possible to cancel a debit order and request a cashback. This can be done via the app for certain amounts, but if it's more then a branch visit is in order. The teller simply asks you why you want your money back and after explaining that the company had no authority to take money out of your account, you get a chargeback and the money is back in your account (I think there was a R10 fee). One of my biggest reasons for using virtual cards.

Tyme Bank is also not supported by Samsung Wallet, Google Pay, Garmin Pay or Apple Pay. So you need your card with you everywhere. With Capitec I pay for everything with my phone. The newer high end Garmin watches also allow for payment. The Tyme Bank app only allows cash withdrawal from Pick n Pay and Boxer stores, then you can go pay for your groceries, lunch, etc. Can't do so any other way than the card.

These are the inconveniences I've had with digital banking.
 
Can you do debit orders or web purchases with a Tymebank card? Is it an embossed debit card or just a plain and simple savings sort of card?
 
Aghori said:
Can you do debit orders or web purchases with a Tymebank card? Is it an embossed debit card or just a plain and simple savings sort of card?
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TymeBank uses those printed cards. Similar to Capitec....though the first yellow ones were really bad quality. I hardly ever used it and in a few months the details on the card came off. Could not make out my name or anything on the card. Don't know if they have improved on that. Bank Zero gives you a proper embossed card and you can put a custom picture on it.
 
Looking at moving from Discovery myself and leaning towards Bank Zero for security reasons. Their card is embossed and it has three card numbers, one for the mag stripe, one for the chip and the embossed number. This makes card skimming more tricky and certain type of transactions can have different limits due to being linked to different numbers. I've used Garmin Pay and Apple Pay in the past but no longer as cellphone theft is so rife lately its not worth it.
Only bummer is they, Zero Bank, don't offer credit. For those using Zero Bank, where do you go for credit cards? I have one just as in "in case" and rarely actually use it but wouldn't want to be without...just in case.
 
Neville said:
Looking at moving from Discovery myself and leaning towards Bank Zero for security reasons. Their card is embossed and it has three card numbers, one for the mag stripe, one for the chip and the embossed number. This makes card skimming more tricky and certain type of transactions can have different limits due to being linked to different numbers. I've used Garmin Pay in the past but no longer as cellphone theft is so rife lately its not worth it.
Only bummer is they, Zero Bank, don't offer credit. For those using Zero Bank, where do you go for credit cards? I have one just as in "in case" and rarely actually use it but wouldn't want to be without...just in case.
Click to expand...
My Apple watch requires a 4 digit passcode to use Apple pay. I assume Garmin is similar? They're more likely to steal a phone than some dumb watch with no real banking app on anyway.
 
Discovery baby. This is more satisfying than any interest rate:

1715331152025.png
 
3WA said:
Discovery baby. This is more satisfying than any interest rate:

View attachment 1706821
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Yeah, been there. Done that. Tired of the Vitality monkey on my back. I want to put fuel in my car where I want to or need to. I want to gym or train when and where I want to without worrying about swiping my memebrship card or tracking each step. I want to buy and eat food where ever I want to. I want to drive however I want. The system works if you're all in and don't mind living with this looking over your shoulder the whole time mentality - I'm done. Need freedom of living. And the savings are not that great. Very clever charted accountants have worked out all of these pricing models and they still make money off you, don't worry.
I can have the same net result on my expenses (a.k.a. "savings") without the hassle and constant monitoring.
PS - Diamond on on three! Impressive...I know it is not easy...respect!!
 
backstreetboy said:
My Apple watch requires a 4 digit passcode to use Apple pay. I assume Garmin is similar? They're more likely to steal a phone than some dumb watch with no real banking app on anyway.
Click to expand...
Yes, Garmin works similar and if you use Apple Pay via the phone instead of a watch, you can have retina scanning etc. Still criminals find ways...you will be amazed.
As of late I am just starting to think we put too many egss in one basket having everything on our phones. Going back to some old school "analogue"-style approaches might just reduce the risk or at least spread it a bit thinner.
FWIW I generally don't like wearing a watch anyway. AND I don't need to anymore since I don't need to track my every step for my daily Vitality rewards anymore.
 
Neville said:
Yeah, been there. Done that. Tired of the Vitality monkey on my back. I want to put fuel in my car where I want to or need to. I want to gym or train when and where I want to without worrying about swiping my memebrship card or tracking each step. I want to buy and eat food where ever I want to. I want to drive however I want. The system works if you're all in and don't mind living with this looking over your shoulder the whole time mentality - I'm done. Need freedom of living. And the savings are not that great. Very clever charted accountants have worked out all of these pricing models and they still make money off you, don't worry.
I can have the same net result on my expenses (a.k.a. "savings") without the hassle and constant monitoring.
PS - Diamond on on three! Impressive...I know it is not easy...respect!!
Click to expand...
I know it’s not for everyone, but I find it pretty easy. Two exercise sessions a week, and the exercise goal happens naturally. I drive like an old lady anyways so Diamond Drive is trivial. I don’t get too hung up about dropping a level or missing a goal now and then.
 
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