Since its founding in 2015, TymeBank has positioned itself as a digital-only, low-cost banking alternative in South Africa.
This year, the bank introduced several updates to its card offering — including a virtual card, expanded service options, and a new TymeBank credit card.
This article reviews the key 2025 developments, outlines limits and fees, and explains how to apply.
New Features in 2025
TymeBank has recently launched new features tied to its card offerings, aiming to modernize the banking experience for its customers.
The most notable updates include the introduction of a virtual card and a new credit-card product.
Applying for a TymeBank card in 2025 is simple and can be done entirely from a mobile device or at a kiosk.
TymeBank Virtual Card
TymeBank now allows customers to activate a TymeBank Virtual Card via its mobile app, at no additional cost.
The virtual card is designed for secure online purchases and payments through compatible devices (tap-to-pay).
It shares the same details as a Visa card: number, expiration date, and CVV. It doesn’t require a separate reload and uses funds from the “EveryDay” account.
It is compatible with mobile payment services like Samsung Pay, Google Pay, or Garmin Pay.
TymeBank Credit Card
In 2025, TymeBank also launched the TymeBank Visa Credit Card, in partnership with RCS, a registered credit provider.
This new credit card provides access to credit, instead of relying solely on personal funds.
The credit terms are revolving: you can continuously use the credit, with monthly payments.
These updates reinforce TymeBank’s digital and flexible profile, catering to users seeking both debit and credit options.
Limits, Fees, and Interest Rates
TymeBank’s philosophy is to provide a low-cost banking account with reduced fees and transparency.
EveryDay Account and Debit: Costs
The EveryDay Account has no monthly fee. Replacing a card costs around R 70.
Purchases with the debit Visa card and online payments within South Africa are free.
Withdrawals from ATMs or at partner points (e.g., Pick n Pay, Boxer) may incur charges, depending on the type of withdrawal.
Savings and Interest
With TymeBank’s GoalSave savings tool, customers can earn up to 8% annual interest on deposited funds.
GoalSave allows customers to create multiple savings “vaults” (up to ten) linked to the EveryDay account.
Credit Card
The TymeBank credit card has an APR of approximately 18%.
Credit limits are determined based on income and solvency evaluations.
Pros and cons of the new features of TymeBank 2025
See:
| Feature / Aspect | Pros | Cons / Potential Drawbacks |
|---|---|---|
| Virtual Card (digital debit/online usage) | • Free to activate and use — no extra fees to get or maintain it. • Convenient: works for online purchases, app purchases, and tap-to-pay via smartphone (via services like Samsung Pay / Google Pay). • More secure than carrying a physical card — reduces risk of loss, theft or physical card skimming/fraud. • Immediate availability: existing users can activate the virtual card instantly from the app. |
• Virtual card transactions do not earn reward points (for example, not eligible for the “Smart Shopper” / rewards integrations). • Cannot be used at ATMs — i.e., not suitable for cash withdrawals. • Spending limit equals your account profile limit — there is no separate top-up or custom limit for virtual card, which might restrict high-value online purchases if your account balance is limited. • If you rely only on the virtual card and your account is compromised, there may be risk — though card can be locked immediately. |
| TymeBank Credit Card | • Offers an interest-free period (up to 55 days) if you pay the full balance on time — useful for short-term cash flow flexibility. • Backed by Visa — broadly accepted worldwide online and offline, so cardholders get global usability. • Contactless / tap-and-go payments, making daily purchases quick and easy. • Option for supplementary (additional) cards for family members, potentially — useful for shared household spending. • Ability to pay larger or more expensive items, or spread cost over time (installments or credit) — offers flexibility beyond debit limitations. |
• Credit limit may be modest (some sources mention an upper limit of about R 50,000), which may be insufficient for very large purchases. • If you miss the payment deadline (after the interest-free period), interest and late-payment fees apply — risk of debt buildup. • Some users report unsatisfactory customer service experiences, including slow or poor support for disputes or problems. • Rewards (beyond local partner program — e.g., “Smart Shopper”) are limited or weak, particularly compared to premium credit cards with travel or cashback perks. • Because TymeBank operates mainly online / via digital banking and kiosks (rather than full branch network), face-to-face customer support is limited. |
| Low-cost account + Debit + Savings (EveryDay + savings tools) | • No monthly account fee for the basic debit account — reduces cost for low-to-moderate users. • Debit card purchases, local online payments, and many basic banking functions are free (if used within limits). • Savings product (when combined — e.g., via savings tools like “GoalSave”) can yield higher interest than many traditional banks (some user reports suggest attractive rates). • Easy account opening and digital-first banking — accessible for many users, including those who may lack access to traditional banks. |
• Daily and per-transaction limits may be restrictive for some users (especially non-biometrically verified accounts). • For cash withdrawals (ATMs or till points) or cash deposits, there may be fees or limitations depending on the context. • Because banking is digital-only with limited physical infrastructure (relying on kiosks in partner stores), some users may find customer service and support limited compared to traditional banks. • For larger savings or frequent high-volume transactions, the limits on non-verified accounts may be a constraint, unless full verification is completed. |
How to Get a TymeBank Credit Card
For the virtual card, once in the official TymeBank app, select the “Your Card” section and follow the instructions. Activation is immediate.
Register with your South African ID number, a local active cellphone number, and, if applicable, a selfie for biometric verification.
For a physical Visa debit card, visit a TymeBank kiosk in partner stores (Pick n Pay, Boxer, or TFG), where you will receive the card.
To apply for TymeBank credit card, you’ll need to accept the terms a by the credit partner (RCS).
Contact, Headquarters, and Legal Information
TymeBank is registered under the number 2015/231510/06. Its headquarters is located at 30 Jellicoe Avenue, Rosebank, 2196, Johannesburg.
For telephone inquiries or customer support, TymeBank provides the number 0860 999 119.
On its website and legal documents, TymeBank notes that fees may change, with at least 30 days’ notice.
Conclusion
The 2025 updates solidify TymeBank as a key player in South Africa’s digital banking space.
The accounts continue to follow a “pay-as-you-use” model with no monthly fees, and the interest rates of up to 8% on GoalSave make it attractive for savers.
For those looking for a simple, digital, and cost-effective banking experience, TymeBank 2025 is a modern and competitive option.
Disclaimer: The information presented here is based on publicly available data from TymeBank as of the publication date. Fees, interest rates, and terms may change. This article is not financial, legal, or investment advice. For up-to-date information and personal decisions, please consult the bank directly.
