What TymeBank is, in 2026

TymeBank Ltd. is a SARB-regulated full bank since 2018 — the first South African digital-bank launch. ~9M customers. Free account, GoalSave (tiered up to ~10% APY on the bonus tier — see tymebank.co.za for the current schedule), Mastercard debit, in-store card issuance via Pick n Pay + Boxer.

Safety and regulation

SARB-supervised full bank. CODI member — ZAR 100,000 deposit insurance per depositor per institution (~USD 5K). Tyme Bank Limited's 2025 AFS reports a capital adequacy ratio comfortably above SARB prudential minima (see published financials). Tyme Group is the parent operator (also operates GoTyme PH). GoalSave deposits sit inside the same CODI envelope.

Who TymeBank is for

Use TymeBank if: you're a South African resident wanting fee-free digital banking with direct SARB charter cover and the highest-APY GoalSave option. Use a competitor (Discovery Bank, Investec) if you want investing products in the same app — TymeBank is banking-only.

How it stacks up.

ALAT by Wema 75
CBN
Nigeria's first fully-digital bank — launched 2017 as a digital arm of Wema Bank (NGX-listed, CBN-licensed since 1945). Operates under the parent's full-bank licence (so NDIC ₦5M cover applies, vs. the ₦2M microfinance ceiling that Kuda + OPay sit under). Strongest domestic savings rate ladder in NG (up to 12% on goal-locked tenures).
Mukuru 63
FCA
Pan-African remittance + financial-services platform — operates across Southern Africa + UK. ~14M users. Mauritius FSC-licensed parent. Cash-out via 100K+ Mukuru agents — physical reach is the structural differentiator. The other half of the pan-African angle alongside Chipper Cash.
Chipper Cash 62
FCA
Pan-African EMI — operates in 9+ African countries + UK + US. Multi-jurisdiction licensing means no single full-bank protection. ~5M users. Backed by Bezos Expeditions, Tiger Global. Anchors the pan-African angle alongside Mukuru.

Or compare side-by-side

TymeBank vs ALAT by Wema → TymeBank vs Mukuru → TymeBank vs Chipper Cash →

TymeBank in the news.

01 Apr 2024 regulatory
South Africa Activates CODI Deposit Insurance — ZAR 100,000 Per Depositor, Operational From 1 April 2024
South Africa's Corporation for Deposit Insurance (CODI) became operational on 1 April 2024 under Section 166 of the Financial Sector Laws Amendment Act 2021, providing ZAR 100,000 (~USD 5,400) per-depositor cover at SARB-supervised banks. Pre-CODI, South Africa had no formal deposit-insurance scheme — the country was the largest emerging-market economy without one.