basic information
of the bankBank type: TymeBank is a private digital commercial bank, non-state-owned, non-joint venture.
Founded: Obtained a banking license in 2015 and officially launched in February 2019.
Head Office: 30 Jellicoe Avenue, Rosebank, Johannesburg, Gauteng 2196, South Africa.
Shareholder Background: The main shareholder is African Rainbow Capital (ARC), which is controlled by South African billionaire Patrice Motsepe. TymeBank is part of Singapore-based Tyme Group, which also has a presence in emerging markets such as the Philippines and Vietnam.
service
coverage: mainly serving the South African market.
Number of offline branches: No traditional bank branches, through partnerships with retail chains Pick n Pay and Boxer, there are self-service kiosks nationwide to facilitate customers to open accounts and conduct business.
ATM distribution: Customers can use ATMs in South Africa to make withdrawals, with specific fees discussed below.
regulatory and compliance
regulators:
South African Reserve Bank (SARB) Prudential Regulation Authority Authority)
Financial Sector Conduct Authority (FSCA)
National Credit Supervisory Authority (NCR)
Deposit Insurance Scheme: TymeBank customers' deposits are protected by the South African Deposit Insurance Corporation (CODI) up to R100,000.
Recent Compliance Records: To date, no major compliance issues have been identified.
Key Indicators of Financial HealthCapital
Adequacy Ratio: According to the September 2024 Pillar 3 report, TymeBank's capital adequacy ratio is in line with regulatory requirements, as detailed in the official report.
Non-Performing Loan Ratio: As of 2024, TymeBank has a non-performing loan ratio of less than 3%, demonstrating good credit quality.
Liquidity Coverage Ratio (LCR): TymeBank has a liquidity coverage ratio of more than 100% in accordance with Basel III requirements, indicating that it has good short-term solvency.
Deposits &
LoansDeposit products:
GoalSave Savings Account: base rate of 6%, This can be increased to 10% upon completion of certain trading conditions.
Time Deposits:
3-month tenor: 6.96%
6-month tenor: 7.87%
12-month tenor: 8.65
Loans:
Personal loans: up to R120,000 at an interest rate based on the individual's credit profile.
TymeAdvance Payroll: Interest-free payroll advance service to help customers meet short-term funding needs.
list of common expensesAccount
management fee: No monthly or annual fee.
Transfer fee:
ATM withdrawal fee:
randOther fees:
Card replacement fee: 70 Rand
account overdraft fee: No
minimum balance limit: None
Digital Service Experience
APP & Online Banking:
TymeBank provides a comprehensive mobile app and online banking services that support account management, transfers, Features such as bill payment.
Core functions:
face recognition to log in
to real-time transfer
bill management
Technological innovation:
AI customer service
, robo-advisor
, open banking API support
customer service
quality service channel:
24/7 customer service number
Complaint handling:
low complaint rate, short average resolution time, and high user satisfaction.
Multi-language support:
English service is available, please contact customer service for other language support.
security measuresFunds
security:
- deposit
- rand
Data security:
compliance with ISO 27001 information security management standards
, and no major data breaches
Featured and differentiated
market segment services:
student account: fee-free
wealth management products for the elderly
Green Financial Products (ESG Investment)
High Net Worth Customer Service:
customized financial solutions
Market Position & AccoladesIndustry
Ranking:
TymeBank is one of the fastest-growing digital banks in South Africa, with over 10 million customers.
Awards & Accolades:
"Best Digital Bank",
"Most Innovative Bank".
