Products and Services
Summary
The traders are required to make a monthly membership contribution of R200 into an account as part of their individual membership fee and will also be entitled to benefits such as those in the Tyme Bank account. A new Vendor Support Program product with 300 informal traders using the Tyme Bank card issuance platform was established in order to give R2000 support facility to a number of informal traders based on the trader’s profile. The support is meant for stock purchase and is used to purchase stock supplies through physical and virtual warehouse (T&Cs) apply. A requirement for Vendor support is that traders must do daily deposits of two hundred (R200) for saving into their personal Tyme Bank account at Pick n Pay, Boxer retail stores and/or participating retailers.
Product Name, Features and Rules
This is a membership scheme, and the Tyme Bank account is a transactional bank account that allows users to open up-to twenty-one (21) linked "Pockets" for different purposes. These Pockets can be used as either Power or Savings Pockets and have their own unique account numbers. Pockets: Open up-to five linked Pockets for specific financial goals. Low Fees: Offers low banking fees. Rewards: Earning points that can be redeemed for various items or converted to cash. Overdraft: Offers access to an overdraft facility. Access to Education Resources.