If TymeBank is a digital bank, it means there are no ATMs and local branches – right? And if so, how do people deposit money into their account then?
Well, TymeBank opted for a strategic partnership with Pick n Pay and Boxer stores for banking services instead of the normal banking ways.
Let me show you how you can deposit money directly into your TymeBank account.
How it Works
Depositing cash into your TymeBank account is very simple.
Simply visit any of the nearest Pick n Pay or Boxer stores with your TymeBank card or TymeCode to deposit at till points.
It’s by far the most secure and convenient way of depositing money into your bank account.
You won’t be subjected to ATM scams and fraudulent activities that are reported daily by most people.
So you can deposit any amount into your TymeBank account using your Visa card or the TymeCode to do that. You can deposit up to R5,000.00 per transaction and up to R21,995.00 daily.
A TymeCode is a 9-digit code generated by your banking app or cellphone banking specifically for depositing money into accounts.
Once you have the code, show it to the cashier at till points, give them the cash you want to deposit and you’re done.
You will get a notification with the details of your cash deposit for confirmation.
It doesn’t cost much to deposit cash into your TymeBank account – and also not cheap.
Your first R1,000.00 cash deposit will be free. And R6.00 for every R1,000.00 thereafter.
The R6 cost applies to whether you’re depositing with the TymeCode or TymeBank card.
So essentially, it’ll cost more if you were to deposit more money in one transaction.
The money you deposit will be available for withdrawal for free, at no costs.
Again, TymeBank doesn’t have ATMs like other banks, so you can only withdraw cash at Pick n Pay or Boxer stores.
You can still withdraw money from other bank’s ATMs however this will not be for free like when you withdraw in-store.
It’ll cost you R9.00 for every R1,000.00 you withdraw at any other ATM and R3.00 to check balances.