Opening a TymeBank account and card gives you a low-fee, fully digital way to manage your money in South Africa.
You handle almost everything through the app or website and collect your Visa debit card at in-store kiosks in partner retailers.
Below you will find how the account and card work, current interest rates on the main products, fees you should know about, and the steps to register.
How the TymeBank EveryDay Account Works
TymeBank’s main product for individuals is the EveryDay Account, a transactional account with no monthly account fee.
The bank states that the account has zero monthly charges and that most everyday digital transactions are either free or very low-cost.
The EveryDay Account itself is mainly a transactional account.
To earn higher interest, you typically move money into TymeBank’s savings products, such as GoalSave or fixed deposits.
Key points about the EveryDay Account
No monthly account fee (R0 per month). Free PayShap instant payments and free debit orders on the account.
Free local card purchases and free EFT payments to TymeBank and other South African banks in most standard cases.
You can bank via app, online banking, USSD and in-store kiosks rather than traditional branches.
Interest Rates: GoalSave and Fixed Deposits
GoalSave is TymeBank’s flexible savings feature.
You can create up to 10 separate GoalSave pockets and move money into them from your EveryDay Account.
Current published structure:
- Base interest rate: around 6% per year on GoalSave balances.
- Boosted rate: up to 10% per year if you complete at least 10 transactions per month on your EveryDay Account for three consecutive months, and give 10 days’ notice when closing the GoalSave (with no partial withdrawals during the notice period).
- Marketing material has indicated a maximum GoalSave balance of about R250 000 across your GoalSave pockets.
TymeBank also offers fixed deposit accounts.
The bank has highlighted a fixed interest rate of around 9% for a 12-month term, with options for shorter terms such as 3 and 6 months.
Fixed deposit rates move with the South African interest rate environment and may be changed by the bank.
Treat any quoted rate as an example only and check TymeBank’s official “Save & Earn” or product pages for the current offers when you decide to invest.
Main Fees on the TymeBank Account and Card
TymeBank’s model is “no monthly fee, pay only for what you use”.
The exact fee table is available in the official fee guide, but public information highlights the following typical charges:
- Monthly account fee: R0.
- Cash withdrawal at any South African ATM: around R10 per withdrawal.
- International ATM withdrawal: around R70 per withdrawal.
- Debit card or debit order decline fee: around R3 per item.
- Foreign currency card transactions: usually about a 2% conversion fee.
You often get free cash withdrawals at Pick n Pay and Boxer tills and can deposit cash at selected retailer till points for a small fee.
Because fees are updated from time to time, you should always download or review the latest official fee guide.
How to Register Online (App or Web)
You can open your TymeBank account fully online in a few minutes.
Access the platform
Visit the official TymeBank website and choose “Open an account”, or
Download the TymeBank app from the main app stores (Apple, Google, Huawei, where available).
Enter your personal details
Provide your South African ID number and basic personal information.
Enter your South African mobile number.
Verify your cellphone number
TymeBank sends a one-time PIN (OTP) via SMS.
Enter the OTP to confirm that the number belongs to you.
Create your login and PIN
Set a secure app/online banking password.
Choose your transaction PIN for card and app usage.
Complete biometric verification
The app may ask for a selfie or to enable fingerprint/face recognition.
Once approved, your EveryDay Account is open, and you can start using digital services immediately.
You still need to collect or print your physical Visa debit card at a TymeBank kiosk before using it in stores or at ATMs.
How to Get and Activate Your TymeBank Card
TymeBank does not operate traditional branches. Instead, you collect your card through in-store kiosks and partner retailers.
Find a kiosk in a participating Pick’n Pay, Boxer or TFG store. Use your ID number and cellphone number or your existing TymeBank login details.
Follow prompts to confirm your details; the kiosk may use fingerprint or PIN verification. The kiosk prints a personalised Visa debit card.
Activation usually happens automatically during kiosk issuance. You then set or confirm your PIN in the app or at the kiosk.
Limitations You Should Know
Before you rely on the TymeBank account and card, note some important limitations.
International transfers
You cannot currently receive incoming international payments directly into a TymeBank EveryDay Account.
If someone tries to send money from abroad to your EveryDay Account, the transfer may fail and be returned.
Local focus
TymeBank’s services are mainly designed for South African residents with a local ID and mobile number.
Changing rates and fees
Both GoalSave and fixed deposit rates are linked to South African interest rates and can move up or down.
Fee structures are reviewed periodically, and specific amounts can change.
You should always read TymeBank’s current terms, fee brochures and product documents before committing large savings or relying on specific benefits.
TymeBank Contact Details and Address
Customer Service Centre (South Africa): 0860 999 119
Registered/head office address (as provided in official filings and public information):
Tyme Bank Limited
30 Jellicoe Avenue
Rosebank
Johannesburg, 2196
South Africa
Use these details if you need to query fees, limits, interest rates or to lodge a formal complaint.
Conclusion
A TymeBank account and card give you a low-fee, digital way to manage your money in South Africa with no monthly account charge.
You open the account online or via the app in a few minutes and then collect your personalised card at a TymeBank kiosk in a partner store.
If you want to grow your savings, you can use GoalSave to earn tiered interest from a base rate up to a boosted rate.
Disclaimer: This article is for information purposes only and is based on publicly available information about Tyme Bank Limited as of late 2025. Interest rates, fees, product features and eligibility rules can change at any time, and different conditions may apply to your specific situation.
