Thymebank





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Thread: Thymebank

  1. #1
    Join Date
    Jan 2014
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    Durban
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    Default Thymebank

    Yesterday I looked at Pick n Pay's new digital Thymebank
    Very simple to open account
    Has anyone have any experience with this
    No monthly fees !!!
    Its sounds to good to be true, but its backed by PnP

    Any comments ?

    A&B

  2. #2
    Join Date
    Oct 2006
    Location
    CAPE TOWN ,SOUTH AFRICA
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    Default Re: Thymebank

    Not Pick n Pays, they just provide a facility for it.
    Its owned by Patrice Motsepe (ARC)
    One of their ways of keeping costs down is not paying for branches.
    But give it a try, but dont put all your eggs in one basket though.


    ORA
    -------------------------
    Ian

  3. #3
    Join Date
    Jan 2014
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    Durban
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    Default Re: Thymebank

    So how on what will they make their money
    As there are no banking fees ?

    A&B

  4. #4
    Join Date
    Jul 2016
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    Midrand
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    Default Re: Thymebank

    There is no monthly account fee yes. But there are small transaction fees. They donít have physical branches so costs will be very low

  5. #5
    Join Date
    Sep 2007
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    Somerset West
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    Default Re: Thymebank

    I opened an account at one of the kiosks a few months ago. Very simple to use, card issued right away (provided the machine currenly has cards :-) - needed to go to another kiosk to print but no issues there). Their monthly statements are simply beautiful to look at - and having the thing linked to my PnP loyalty card means points wherever I use it. They have a "Goal Save" feature where you can stash cash away in a seperate section of your account that won't be accessed until you transfer it back to the main section - which is instant. GoalSave earns interest rapidly and exponentially. Tyme to Tyme transfers are instant - means if my kid needs a sudden bit of cash, I'm on the app and he has it right now. The only issue I have had was a R50 prepaid purchase of airtime that didn't go through.

    I've still got my regular bank accounts, but this is a nifty little one that I'm using for stashing away rainy-day cash in small amounts and so far so good.
    Michelle
    ----------------
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  6. The Following User Says Thank You to seekingserenity For This Useful Post:

    A&B

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