TymeBank is adding as many as 4,000 customers a day

More than 250,000 customers have now signed up for TymeBank, with the bank adding between 3,000 – 4,000 customers each day.

This equates to an average of around 100,000 new customers a month, the bank said in a statement on Wednesday (24 April).

“We’re delighted to see how many of our customers are above the age of 36, as we believe that these are people who already have an existing bank account, who see the value we offer and have taken the decision to give us a shot,” said TymeBank’s CEO Sandile Shabalala.

“Furthermore, 78% of our customers have opened their accounts at a kiosk inside a Pick n Pay or Boxer store with 22% having done so on our website.

“We are really encouraged that we’re appealing to a broad range of South African consumers, those who are digitally savvy enough to open an account online and those who feel more comfortable with a physical touchpoint,” comments Shabalala.

Shabalala said that these numbers have exceeded expectations and he expects that the number of sign-ups will soon climb to an average of 5,000 a day.

“At just 60 days after our official launch, we are encouraged to see the clear customer trends that are emerging,” he said.

“As our kiosk distribution in Pick n Pay and Boxer stores increases alongside our national marketing efforts, we can expect this momentum to continue so that we are consistently signing-up over 100 000 customers a month,” he said.


Read: TymeBank fees compared to other banks in South Africa

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TymeBank is adding as many as 4,000 customers a day