TymeBank acquires 3000 to 5000 new customers everyday. Over a 100 million transactions have been processed since Launch. Over 80% of their customers pay zero fees with 8% interest with no minimums and no lock in. Cash deposits at Pick n Pay and Boxer stores averages over 5 million per hour. Their accounts are easy to open, it only takes you less than 5 minutes online, in App, or at Pick n Pay and Boxer store kioks.
'TymeBank, one of the world’s fastest growing digital banks, has hit the three-million customer mark, and it’s done so in a mere 25 months. The bank, which has no branches, no monthly banking fees and transaction costs that are significantly lower than competitors’, has been signing up between 3000 and 5000 new customers every day'. This was a statement released by the bank.
Other things you may not know about South Africa’s first digital bank:
- TymeBank’s transaction costs are between 30 to 50% lower than what other banks charge.
- You can find TymeBank kiosks at 700 Pick ’n Pay and Boxer stores across South Africa.
- While it may not look and act like a traditional bank, TymeBank is fully regulated like the “big 5” retail banks.
- Customers have deposited more than R10 billion into their TymeBank accounts in the past six months.
- Goalsave* pays up to 8% interest - you can double the amount you save in just six months.
- It takes nine seconds to send money to any cellphone in South Africa using TymeBank’s SendMoney function.
- The majority of TymeBank accounts to date (85%) have been opened at kiosks, while 15% are opened online.
- The bank’s kiosks, electronic customer channels and call centre are open seven days a week.
- Over 50% of customers are above 35 years old, with women showing some 30% higher usage on certain transaction types
- TymeBank was named the 2nd best bank in SA by Forbes, only 18 months after launch.
Content created and supplied by: Blackarai (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More