Sending money to friends or family shouldn’t be expensive. TymeBank has revolutionized banking in South Africa by offering low-cost and often free ways to send money. Whether you are sending funds to another TymeBank user or someone without a bank account, our SendMoney Calculator helps you estimate the costs and understand the limits of your transaction.
How TymeBank SendMoney Works
TymeBank offers three primary ways to move money, each with its own fee structure:
- TymeBank to TymeBank (Free): Sending money to another TymeBank account holder via the app is instant and usually carries zero fees.
- SendMoney to a Cellphone Number: You can send money to anyone with a South African cellphone number. The recipient receives a voucher code via SMS, which they can use to withdraw cash at partner retailers.
- PayShap & EFT: TymeBank supports PayShap for instant inter-bank transfers (often up to R5,000) and standard EFTs to other banks.
Fee Breakdown (Estimates)
While TymeBank is known for its “Everyday Money” account with no monthly fees, specific transaction costs apply:
| Transaction Type | Estimated Fee |
| SendMoney to Cellphone | ~R0.00 to R7.00 (varies by promotion) |
| Cash Withdrawal (Pick n Pay / Boxer) | FREE (using TymeCode) |
| Cash Withdrawal (Other Retailers) | ~R3.00 |
| ATM Withdrawal | ~R10.00 per R1,000 |
| PayShap (Instant Transfer) | FREE (on qualifying amounts) |
How to Use the SendMoney Feature
- Log into your TymeBank App or dial *120*543#.
- Select “SendMoney”.
- Enter the recipient’s South African cellphone number.
- Enter the amount you wish to send.
- Create a secure PIN and share it with the recipient privately.
- The recipient can then go to a Pick n Pay or Boxer store to withdraw the cash.
Important Limits to Remember
- Daily Send Limit: Usually capped at R3,000 to R5,000 depending on your account verification level.
- Monthly Limit: Standard accounts often have a R20,000 to R50,000 monthly limit.
- Voucher Expiry: SendMoney vouchers typically expire after 30 days if not claimed.
Why Use Our Calculator?
TymeBank’s fee structure is much simpler than traditional banks, but “small” fees for ATM withdrawals or retail cash-outs can add up. Our calculator helps you figure out the total cost of the transaction so the person receiving the money gets the exact amount they need.