FNB Easy Zero vs TymeBank vs MyMo – pricing compared

FNB has launched its rebranded digital account, Easy Zero, which now includes a debit card and reworked fees.

While the account – formerly known as FNB eWallet eXtra – was first to market in the digital banking space in South Africa, it launched with limited functionality, and no way for customers to physically transact, having no card.

Following the relaunch, the account is now more in-line with competing digital banks, such as TymeBank, which launched in February this year, and the coming Bank Zero, which both offer zero-fee accounts and banking cards for transactions.

It also plays in the same space as Standard Bank’s recently launched MyMo account, which is the bank’s first fully mobile account, which can be opened, accessed and run through the group’s app.

Below, BusinessTech compares the reworked FNB account to TymeBank and MyMo, looking at transactions, services and limitations.

Transaction fees at a glance

Services and Limitations

The transaction fees structured quite differently across all the accounts, and in some cases carry limitations.

Standard Bank MyMo

Of the three accounts, MyMo is most closely tied to traditional banking accounts in terms of services and structure. It still carries a monthly fee of R4.95 (the cheapest of all Standard Bank accounts), but opts for fixed-fee structures for withdrawals and its instant money features.

However, the fees for these transactions shift depending on the amount being transacted.

For withdrawals and sending money under R1,000, the bank charges R6.50 or R10.50, respectively. If these transaction values exceed R1,000, the fees ramp up to R13.00 and R12.50, respectively.

FNB Easy Zero

FNB’s reworked account opts for a fixed fee of R6.00 for withdrawals – for every R1,000 or part thereof. This carries a limit of R1,500 per month, however, after which it reverts to R1.90 per R100 calculation (the standard for its other accounts).

The R1,500 limit also applies to deposits, after which the bank charges R1 per R100 deposited.

When it comes to sending money, the bank charges R11.00 to send money from an FNB Account into the Easy Zero account, but it is free to transfer money from the Easy Zero account to an FNB Account.


TymeBank carries a fixed fee of R2.00 for withdrawals at point of sale and R8.00 per R1,000 for withdrawals at ATMs. Sending money carries a flat rate of R4.00, which is also the flat rate of deposits.

TymeBank’s limits are account-wide, based on a customer’s banking profile with the bank: a basic profile is given to those who sign up online, with the next level given to those who register biometric data. The final level is given when a residential address is given. Payment limitations, for example, range from R2,000 a month to R100,000 a month, depending on the profile.

The limits for the profiles are as follows:

Transaction Just met Getting to know you Good friends
Payment R2 000 R10 000 R100 000
Prepaid Purchase R1 000 R3 000 R3 000
Cash Withdrawal at PnP or Boxer R2 000 R5 000 R5 000
Cash Deposit R3 000 R20 000 R20 000
Daily transaction limit R2 000 R10 000 R100 000
Daily cash deposit limit R20 000 R20 000 R20 000
Monthly transaction limit R40 000 R100 000 R1 000 000
Monthly cash deposit limit R20 000 N/A N/A

Other services

All accounts offer additional services like buying prepaid airtime and data, and paying for electricity.

TymeBank carries no charges for these transactions, versus FNB’s R2.60 charge for prepaid electricity purchases and MyMo’s R1.50 charge for the same.

FNB and Standard Bank offer Lotto purchases on the accounts, for which they charge R2.60 and R2.30 for purchases, respectively.

FNB Easy Zero is the only account that allows customers to pay for their Multichoice subscriptions through the account, for which is charges R7.00.

Standard Bank MyMo is the only account that has international functionality (withdrawals charged at R45 + R1.85 per R100 or part thereof + International transaction fee).

Read: FNB launches Easy Zero, a no monthly fee digital account with a card

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FNB Easy Zero vs TymeBank vs MyMo – pricing compared