GoTyme Bank, formerly TymeBank, has launched \u2018Move Money- Instantly and Free\u2019, a new campaign aimed at changing the way South Africans think about everyday payments \u2013 starting with the idea that customers should not have to pay a premium simply because they want their payments to arrive immediately.<\/p>\n\n\n\n
GoTyme Bank customers can make instant payments of up to R5,000 per transaction for free, while instant payments above R5,000 attract a simple flat fee of R7.<\/p>\n\n\n\n
The proposition forms part of GoTyme Bank\u2019s broader ambition to become the bank South Africans choose for everyday payments by making payments faster, simpler and more affordable.<\/p>\n\n\n\n
\u201cPeople live in real time, but banking has not always kept up,\u201d says Lucia Malapane, Head of Brand at GoTyme Bank. <\/p>\n\n\n\n
\u201cIt makes very little sense that customers should still have to choose between waiting for their money to arrive and paying extra to make it move faster.\u201d<\/p>\n\n\n\n
She adds: \u201cOur view is simple: when you send money, it should get there immediately. And for the everyday payments most South Africans are making, you should not have to pay extra for that speed.\u201d<\/p>\n\n\n\n
The campaign positions instant payments not as a premium banking feature, but as an everyday utility.<\/p>\n\n\n\n
Unlike traditional electronic transfers that may take time to reflect, an instant payment is designed to reach the recipient within seconds. <\/p>\n\n\n\n
Through the GoTyme Bank app, customers can make instant payments directly to participating South African bank accounts via PayShap, with instant payments of up to R5,000 available at no charge.<\/p>\n\n\n\n
\u201cSouth Africans are rightly conscious of where every rand goes,\u201d says Malapane. \u201cA R2, R5 or R10 transaction fee may look small in isolation, but repeat that several times a month and it becomes meaningful money.\u201d<\/p>\n\n\n\n
\u201cWe don\u2019t think customers should have to choose between speed and affordability. Our job as a bank is to remove that friction.\u201d<\/p>\n\n\n\n
The campaign was launched from the GoTyme Bank Experience Hub at Mall of Africa in Johannesburg, an experiential space designed to allow consumers to engage with the bank beyond traditional banking touchpoints. <\/p>\n\n\n\n
The hub combines banking experiences with lifestyle elements, including Seattle Coffee, branded merchandise and customer engagement opportunities.<\/p>\n\n\n\n