How To Open Tyme Bank Account In 2021 | FAST METHOD

This article is solely about the famous Tymebank. You will get answers to questions like: "What is Tymebank?  Tyme bank account benefits? How to open tyme bank account?  How to check balance on tyme bank? and how to withdraw from tyme bank?

What Is Tyme Bank?

Many don't know what tyme bank is, so here is the definition. TymeBank is a digital retail bank which is mainly based in South Africa and founded in 2015, it is a privately held company which provide mainly financial services. They fully rely on Android banking app services due to the fact that they do not provide physical financial services.

When next someone asks you; What is Tyme bank?" Feel free to give them the answer above.

Their main headquarters are in Rosebank and Johannesburg , TYME is an abbreviation of  Take your money Everywhere

It was developed originally as part of Deloitte Consulting project funded by telecommunications of MTN Groups. It became a single independent business in early June 2012.

The CBA(Commonwealth Bank of Australia) in early 2015 acquired 100% of Tyme and named the business Tyme Digital. On 28 September 2017, TymeDigital secured an operating licence from the South African Reserve Bank (SARB). It was the first full banking licence to be issued by the SARB since 1999.

In 2018 financial services company bought a total of 10% stake of TymeDigital. Early November 2018, African Rainbow Capital Financial Services Holdings - owned by South African entrepreneur Patrice Motsepe - obtained approval from the South African Reserve Bank to acquire CBSA’s 90% majority stake in the business.

TymeBank offers a transactional account, money transfer service, savings account and educational App.  We have spoken enough about what Tymebank is, let us now move on to Tyme bank benefits.

Tyme Bank account benefits

Here are some reason why TymeDigital Bank is beneficial

•TymeBank are useful in lot of ways one of the reason is because it takes 5 minutes to create an account.

•You can start transactions immediately after creating an account

•You can use the account without any account monthly fee.

•You can buy items and materials online using your Tyme Banking app.

• You get a 7% interest every year for saving your money on Tyme Bank.

• The TymeBank Everyday Account GoalSave tool makes saving easier.

GoalSave tools is a tool that makes it easier for saving money in TymeBank, because it give you access to your cash reserves.

You can specify your reason for saving money either for a bank loan, home loan or car loan it's all to you to decide after your decision GoalSave will help you with the rest.

With GoalSave you can create lot of saving plan with different names for each of them, you also get a 7% interest by saving your money on TymeBank using the GoalSave tool, there are no debit orders that apply to GoalSave. The money that you save is safe and keeps growing.

When we look at it, the benefits of tyme bank is a mouthful. When I hear someone around me ask what are the benefits of tyme bank, I tell them "The benefits are unlimited when it comes to tymebank."

Note that you have a limit of R500,000, if you want to increase your limit all you have to do is use the Tyme Bank Digital banking app.

How to open a Tyme Bank account

Most people usually think that to open a tyme bank account is hard, but it isn't.
Below is are the easy steps on how to open a tyme bank account.

• First of all you have to visit TymeBank official website get it by clicking here 

• Next you click on the start now to start the registration for a new account

• For the next step you have to insert your ID number which you must have in other to create a Tyme Bank account

•  Next you'll have to follow the step by step registration process which does not take up to 5 minutes to complete. In this process you have to insert your name and other personal informations

• Then download the app login and start performing transactions.

Like I said, the steps on how to open a tyme bank account is very easy. It doesn't even take long!

How to withdraw money from TymeBank

Withdrawing money from TymeBank is easy and effortless, because they make it so easy for users to be able to access.

You can easily withdraw money from tyme bank using Pick n Pay or Boxer all you have to do is meet a cashier and ask them for cash withdrawal, then give them your card and inform them how much you want to withdraw.

You can withdraw cash without any having to use an ATM card all you have to do it's navigate your Tyme Bank Digital app and you'll be sent a TYMECODE, which should be shown to your cashier, the whole steps of withdrawing takes up to a few minutes, it doesn't take that long because they made it easy for users.

You can as well withdraw your money from an ATM card although they do not have their own official ATM card yet they made it possible for users to withdraw with other banks ATM card. It only takes R9 to withdraw from TymeBank with an ATM from a different bank.

Those are the steps to withdraw money on tyme bank.

How to check balance on TymeBank

There are three simple method to check balance your tyme bank balance. This can involve using USSD code, ATM or Their official call center

USSD CODE: Simply dial *120*543# or *130*543#, this service requires no data and can be done with any device. 

ATM: Visit any ATM with your debit or credit card but you'll be charged a fee of R3

Customer Service Center: You can call the customer service center 0860 999 119.

That is a wrap on everything related to Tyme bank. Now that you have the answer to What tyme bank is and how it works. Go and educate someone too!

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