How to Transfer Money in TymeBank

TymeBank has quickly grown into one of South Africa’s most popular digital-only banks, offering convenient, low-cost banking through mobile and online platforms. One of the most common questions new users ask is: “How do I transfer money in TymeBank?”

This guide breaks down all the ways to transfer money in TymeBank, including step-by-step instructions, fees, safety tips, and troubleshooting advice. Whether you’re sending money to another TymeBank account, a different bank, or making payments for shopping, this article covers it all.

Why TymeBank Is Different from Traditional Banks

Before diving into the transfer methods, let’s understand why TymeBank has become a fintech leader in South Africa:

• 100% digital: No physical branches.
• Low fees: Many services, including money transfers, are cheaper than traditional banks.
• Partnership with retailers: Customers can access TymeBank kiosks at Pick n Pay and Boxer stores.
• User-friendly app: Manage all banking tasks from your smartphone.
• Financial inclusion: Millions of South Africans have opened accounts without needing complex paperwork.

This digital-first approach makes money transfers fast, affordable, and accessible.

Methods to Transfer Money in TymeBank

TymeBank offers several ways to transfer money. Let’s break them down in detail.

1. Transfer Money to Another TymeBank Account

This is the fastest and most convenient transfer method.

Steps:

1. Log in to the TymeBank app or Internet Banking.
2. Select “Pay” from the menu.
3. Choose “TymeBank Account” as the recipient.
4. Enter the recipient’s account number or select from saved beneficiaries.
5. Input the amount you want to transfer.
6. Confirm details and tap “Send”.

Processing Time: Instant.
Fee: Free.

2. Transfer Money to Another South African Bank

TymeBank allows transfers to all major South African banks (FNB, Standard Bank, Nedbank, Capitec, Absa, etc.).

Steps:

1. Open the TymeBank app.
2. Tap “Pay” → “Other Bank Account”.
3. Enter the recipient’s banking details (bank name, account number, branch code).
4. Select payment type:
   • Immediate Payment (faster, small fee).
   • Standard EFT (slower, cheaper or free).
5. Enter the amount.
6. Confirm payment.

Processing Time:

• Standard EFT: 1–2 business days.
• Immediate Payment: Within minutes.

Fee:

• Standard EFT: Free.
• Immediate Payment: Around R7–R10.

3. Transfer Money Using SendMoney (Mobile Number Transfers)

TymeBank’s SendMoney feature lets you send money using a cell phone number – even if the recipient doesn’t have a TymeBank account.

Steps:

1. Log in to your TymeBank app.
2. Select “SendMoney”.
3. Enter the recipient’s mobile number.
4. Enter the amount.
5. Set a PIN for the recipient to withdraw cash.
6. Confirm the transaction.

Recipient Process:

• The recipient receives an SMS with instructions.
• They can withdraw cash at any Pick n Pay or Boxer store using the PIN.

Processing Time: Instant.
Fee: Flat fee (around R7).

4. Paying Bills and Merchants

You can also transfer money directly to companies and service providers.

Steps:

1. Go to the TymeBank app.
2. Tap “Pay” → “Bills & Merchants”.
3. Choose from a list of billers (DSTV, Eskom, municipal bills, etc.).
4. Enter the reference/account number.
5. Enter payment amount.
6. Confirm transaction.

Processing Time: 1–2 business days (varies).
Fee: Free or low-cost depending on the merchant.

5. ATM & Retailer Transfers (Cash)

TymeBank doesn’t own ATMs, but you can deposit or withdraw cash through Pick n Pay and Boxer stores.

• Deposit Cash:
  • Hand over cash at the till.
  • Funds reflect instantly.
  • Fee: R6 per R1,000.
• Withdraw Cash:
  • Request withdrawal at the till.
  • Enter your PIN on the card machine.
  • Fee: R3 per R1,000.

This is not a traditional transfer but is useful for cash-based transactions.

TymeBank Transfer Fees 2025 Updated

Transfer Type	Fee	Processing Time
TymeBank-to-TymeBank	Free	Instant
EFT to Other Banks (Standard)	Free	1–2 days
EFT to Other Banks (Immediate)	R7–R10	Minutes
SendMoney (Mobile Transfer)	R7	Instant
Cash Withdrawal at Pick n Pay/Boxer	R3 per R1,000	Instant
Cash Deposit at Retailers	R6 per R1,000	Instant

 

Safety Tips for Transferring Money in TymeBank

1. Double-check recipient details before confirming.
2. Avoid public Wi-Fi when banking online.
3. Set transaction alerts via SMS or app notifications.
4. Use strong passwords and biometrics for login.
5. Never share your PIN or OTP with anyone.

Common Transfer Issues and How to Fix Them

• Delay in EFT transfers: Usually due to bank clearing times. Wait 1–2 days.
• Incorrect recipient details: Money may bounce back; contact TymeBank support.
• Failed SendMoney transaction: Ensure recipient’s number is correct and has a working SIM card.
• App not working: Update the app or try Internet Banking.

 TymeBank Customer Support for Transfer Issues

If you face problems, you can contact TymeBank through:

• Call Centre: 0860 999 119
• Email: service@tymebank.co.za
• WhatsApp Banking Support (available through the app).
• In-store kiosks at Pick n Pay or Boxer.

Future of Money Transfers in TymeBank

Looking ahead, TymeBank is expected to add:

• Cross-border transfers using fintech partners.
• Integration with PayPal and global wallets.
• AI-driven fraud detection for safer payments.
• More instant payment solutions for business users.

Transferring money in TymeBank is simple, fast, and affordable thanks to its digital-first model. Whether you’re sending to another TymeBank user, paying bills, or transferring to another bank, the platform ensures low fees and convenience.

By using the right transfer option and keeping security in mind, you can enjoy a seamless banking experience with TymeBank.