South Africans all around Mzansi are feeling the pinch as the prices of everyday goods reaches new heights. People across the country have had to tighten their belts to make ends meet with estimated of 76% of the population are living paycheck to paycheck. One of the many downsides to the rising costs of goods is the fact that very few South Africans are able to save money for retirement or to build up emergency funds. Luckily TymeBank has revolutionised the banking industry by making banking simpler and easier. Not only has the bank helped South Africans to save time by being able to open a bank account in five minutes but by helping South Africans potentially earn 10% on their savings.
TymeBank has been the bank for the people since their launch in 2019 by listening to the needs of South Africans consumers. Their EveryDay account is used by over 10 million South Africans and has a Zero Monthly Charge which helps with making their money go further. GoalSave is another great initiative from TymeBank where clients have the chance to get up to 10% interest per annum on their savings. Anyone that is a resident of Mzansi can open an account and start earning interest with GoalSave.
Here is a breakdown of just how easy it is to be part of the banking revolution and to start saving money today. There are two ways to download the TymeBank app. Visit tymebank.co.za and click on the “Open an Account” icon which will open on a register page with a QR to scan, or simply visit the app store on your cell phone and search for TymeBank. You need to be over the age of 16, have a valid South African ID number and a cell phone number to open an account. You will be biometrically-verified on the app so find a spot with good lighting. You can then collect your new debit card at any Pick n Pay or Boxer store that has a TymeBank kiosk inside.
Clients that have signed up automatically gain access to GoalSave but need click on the “NewGoal” icon in the app and personalise their goals. There is space to create ten different goals and name them. Account holders need to do 10 transactions for three months and give a ten day notice before withdrawing from the account to earn the 10% interest. An important side note is that you can open a maximum of 10 GoalSave accounts with a limit of R100 000 across the accounts. Get more information by clicking on the “Get answers to your questions” icon on GoalSave page.
It’s easy to understand why SA’s first digital became the fastest growing online bank in the world with so many banking innovations on offer. Why not download and open and account within 5 minutes to see why so many people around the country are banking with TymeBank. You will also get access and the chance to save for that next holiday or big birthday braai that you have been planning.