EveryDay account

TymeBank is a new kind of bank that’s digitally smart. The money we save by not having branches benefits you, as it allows us to charge you a lot less for your banking services. Think no monthly fees, many free day-to-day banking transactions and low charges for other transactions. And that’s just for starters.

Easy to understand charges

TymeBank gives you an account with no monthly fees, where many day-to-day banking transactions are free and there are low charges for other transactions, so you always know what banking with us is going to cost you.

What we don’t charge you for

Action Fees
Monthly fees
Monthly administration fee Free
Smart App (App) subscription fee Free
Internet Banking (IB) subscription fee Free
Notifications
SMS Notification Free
Debit Card
Initial Debit Card Free
Banking Documents
Account statement (IB & App) Free
Beneficiary payment notification (IB & App) Free
Proof of account (IB & App) Free
Balance enquiries
Internet Banking Free
Smart App Free
Kiosk Free
Cash Withdrawals
Tymecode till point @ PnP & Boxer Free
Debit card till point @ PnP & Boxer Free
Purchases
Debit card purchases Free
Online purchases Free
Prepaid electricity (IB & App) Free
Prepaid airtime, data & sms bundles (Internet Banking & App) Free

What we do charge you for

Action Fees
Cash Withdrawals
Debit card till point @ other retailers R2
Payments
Payment to other bank account R2
Debit order (internal)
Debit order (external – where your account is debited to pay a 3rd party)
Free
R2
Cash Deposits
Tymecode till point @ PnP & Boxer R4
Debit card till point @ PnP & Boxer R4
Payments
Send money (account to Tymecode) R4
Balance enquiries
Debit card other bank ATM R2
Cash Withdrawals
Debit card other bank ATM (R8 per R1000) or part thereof R8
Decline and disputes fees
Debit order dispute: within 40 days# Free
Decline fee* (due to insufficient funds or incorrect PIN) R2
Late payment reversal to Tymebank R8
Debit order dispute: Older than 40 days R40
Late payment reversal to other banks R40
Unsuccessful debit card dispute R40
Debit Card
Debit card replacement fee R40

*Applies to declined Card, Debit order & ATM transactions
#Customer assisted through Customer Service Centre

Profile Limits

The more we know about you, the more we’re able to offer. At present, we rely on our kiosk process to perform an enhanced identity verification using biometrics, and to verify your address using 3rd party data sources.

Maximum Account Balance

Everyday Account + GoalSave(S) R20 000

Total Daily Limits

Total of payments, prepaid purchases, send money, cash withdrawals, card purchases and online purchases (see detailed daily transaction limits below) R2 000
Cash deposits R20 000

Total Monthly limit

Total of payments, prepaid purchases, send money, cash withdrawals, card swipes and online purchases. R40 000

Per transaction limits

Payment R2 000
Prepaid Purchase R1 000
Send Money R1 000
Cash Withdrawals @ ATM R2 000
Cash Withdrawals @ Till point R2 000
Debit Card Purchase R 2000
Online Purchase (not live yet) R2 000
Cash Deposits R3 000

Daily transaction limits

Payments R2 000
Prepaid Purchases R2 000
Send Money R2 000
Cash Withdrawals @ ATM R2 000
Cash Withdrawals @ Till point R2 000
Debit Card Purchases R2 000
Online Purchases (not live yet) R2 000
Cash Deposits R2 0000

Note that cash deposits are limited to the maximum account balance limit & that there are also limits applicable per transaction.

Examples:

  1. If you have R10 000 in your Everyday Account, you can only save R10 000 in total your GoalSave(S).
  2. If you have R15 000 in your GoalSave(S), then they can only have R5 000 in your Everyday Account.
  3. If you’ve made prepaid purchase for airtime worth R1 000 – you can still make another prepaid purchase of R1 000 on the same day, because the daily limit is R2 000.
  4. If you make a cash deposit of R3 000 at a till (maximum per transaction) you can still make further deposits after that of up to R17 000, because the daily limit is R20 000.The R17 000 would need to be in multiple transactions of R3 000 maximum per transaction.

At all times remember that the profile limit is R20 000

How to open an account. It couldn’t be easier

You can open your EveryDay account right here,>>>> RIGHT NOW ONLINE<<<<, or you can go to the TymeBank kiosk at selected Pick n Pay and Boxer stores. It really does take less than 5 minutes to open your account. All you need is your SA ID number, your thumbprint and an active cellphone number.

 

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