How Tyme Bank Is Providing Banking Services With Zero Costs. Tyme Bank is a digital bank founded on simplicity, transparency and affordability. Tyme Bank’s majority shareholder is African Rainbow Capital, a fully black-owned and controlled investment company, making Tyme Bank the first majority black-owned retail bank in South Africa. The company’s business is designed and run around key principles such as it’s belief that every South African has the right to accessible and affordable banking so that they can take part in, grow and benefit from the country’s economy.
Tyme Bank believes in the potential of people in this country as it has designed its products, services and tools to help individuals, businesses and communities achieve everything they’re capable of. The bank constantly looks for innovative ways to empower South Africans to take back control of their money. This is done by helping them understand how money really works and giving them a transparent view of their own financial situation, the company makes it easier for its customers to make decisions today that translate into a secure financial future.
The bank keeps the clients money safe with regular security updates and it verifies transactions using OTPs to make sure it’s really the client who is spending money. The company aims to help clients understand how money really works by giving them a clear picture of every Rand and cent they have. This will help its clients in making informed decisions about their finances.
The company’s products, services and tools are designed to be easy to use and easy to find as there is a Tyme Bank kiosk in most Pick n Pay and Boxer stores where clients can deposit and withdraw money at every Pick n Pay and Boxer till point, the clients can bank wherever they shop. It’s banking app and online banking is ready for clients at any time and its services like SendMoney for example, lets customers send money to someone else, anywhere in South Africa, even if that person doesn’t have a bank account. The company has seen a lot of success since its inception as it has over 2.71 million people in South Africa that have joined the bank.
