TymeBank is a digital bank that disrupted the way people were banking in South Africa, keeping things easy and affordable.
They dominate retail banking in the country, ensuring people bank conveniently and securely in stores they trust.
Today I want to walk you through the steps to take to deposit money into your Tymebank account.
Without wasting your time, let’s get started!
How to Deposit Money
TymeBank has partnered with Pick n Pay and Boxer stores to bring banking to your favorite retail stores.
There’s a Pick n Pay and Boxer store everywhere in South Africa.
To deposit money into your TymeBank account, visit any till point at the above-mentioned stores and request cash deposit service.
Though you’re not limited to only cash deposits, you can choose to withdraw, send or cash out money that’s been sent to you.
The best part, you can deposit cash without a TymeBank card.
You need a TymeCode to deposit money into your account. A TymeCode is a 9-digit code generated by your TymeBank app or cellphone banking specifically for depositing money at the above-listed retail stores.
You can deposit a maximum cash limit of R5,000 per transaction in stores.
TymeBank Deposit Fees
It’s free to deposit money at retail stores into your TymeBank account, but that’s for the first till point deposit.
It’s going to cost you R6 for every R1,000 you deposit thereafter.
The TymeBank deposit fees are much cheaper compared to other banks. For example, FNB charges R1 per R100 cash deposit at ATMs, which if we calculate, goes for R10 for every R1,000 client’s deposits into accounts.
EFT Deposit
You’re not again limited to depositing money in your TymeBank account in retail stores, you can still use the commonly used EFT method.
Simple transfer cash from your other accounts from other banks directly into your TymeBank account number.
Payments made before the cut-off times will take 2 working days to reflect and payments made after the cut-off times will take 3 working days to reflect.
Alternatively, you can always choose to pay and clear amount, which the money will reflect immediately.