TymeBank is Mzansi’s first and biggest digital bank. It has been helping South Africans to make their money go further since entering the market in 2018 with their Zero Montly Fee charge.
South African’s can now make the switch by using their cell phones and join the millions of happy clients within 5 minutes without having to go to a bank. TymeBank’s Zero Monthly Fee is perfect for individuals that receive SASSA grants, many of who live in rural parts of the country, which makes access to cities or towns to open banking accounts difficult. Their user friendly app is easy to use and banking can also be done using USSD or via internet banking.
Access funds with GrantAdvance
GrantAdvance is another great innovation from TymeBank. It enables SASSA grant recipients to access their funds before the next grant payment – there is no extra cost for the user if they are a client of the digital bank. The advance amount is limited up to a R1000 for SASSA grant beneficiaries who bank with TymeBank.
TymeBank has made it simple and easy for new clients to make the switch by having TymeBank ambassadors at Markhams, Sportscene, Exact, Jet, Boxer and Pick ‘n Pay stores who will help with pre-populated forms and proof of account. Clients will then be able to submit their SASSA switch forms together with proof of account at a SASSA office – they must inform the office that they would like to use TymeBank to receive grant payments.
There are two ways for SASSA recipients who bank with TymeBank to access GrantAdvance. One method is by requesting the grant using the app, and the other method is by dialing *120*543#, selecting option 4, and then selecting SASSA Grant Advance via USSD. The requested funds will be immediately available if the request for the advance was a success. What makes this advance stand out above the crowd is that no interest fees will be charged on the advance and the amount will be fully repaid at the next grant payment date.
TymeBank is not only helping the millions of grant receivers with access to funds when it is needed most at no cost. The bank is also giving back to the community and has partnered with Ikusasalethu Youth Development Project to support the NPO’s skills development programme, which brings banking services and access to mentorship programmes and support in creating business plans to 180 aspiring entrepreneurs.
For more information, see https://www.tymebank.co.za/
