TymeBank Review 2026: Fees, GoalSave Rates & Verdict
Pros
- No monthly account fee
- GoalSave rates up to 11% with no minimum balance
- Open an account in minutes at a kiosk or in-app
- Free to send money and swipe for purchases
Cons
- No physical branches for in-person help
- Top 11% rate requires regularly using your EveryDay account
- Limited lending and credit products
TymeBank launched as a fully digital bank with one clear promise: banking without the monthly fees. Years later, it remains the benchmark other zero-fee accounts are measured against.
Who is TymeBank for?
The EveryDay account suits anyone who is tired of paying R60 to R120 a month just to keep an account open. There is no monthly fee, no minimum balance, and you can open an account at a kiosk in retail stores like Pick n Pay and Boxer in a few minutes.
GoalSave: the real reason to join
The standout feature is GoalSave, TymeBank’s savings tool. You start earning 4% a year from day one, rising to 5% after 30 days and 6% after 90 days, and by regularly using your TymeBank EveryDay account you can boost this up to 11% a year. There is no minimum balance, so even R50 starts earning.
Fees
Most everyday actions are free: swiping your card, receiving money, and sending money via the app. The few fees that exist are clearly published, which is refreshing compared to the bundled pricing at the big banks.
Verdict
If your priority is cutting bank fees to zero while earning a strong savings rate, TymeBank is hard to beat. The main trade-off is the lack of branches and a thinner range of credit products.
