Tyme for Business Banking

No docs. No monthly bank fees. Add a business account to your EveryDay profile online for free, in less than 5 minutes.

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What is an EveryDay Business account?

Open your EveryDay Business account online. It’s linked to your TymeBank profile so you can see which money is yours and which money belongs to your business. That’s a clever way to bank for Mzansi-preneurs.
You need to have an EveryDay Personal account with a ‘Good Friends’ bank profile to open an EveryDay Business account. To update your profile, visit a TymeBank kiosk and confirm your name, ID number, thumbprints, and residential address (no documents required)

What you get

free business bank account

No monthly bank fees. Pay-as-you-use charges

Your profits stay in your pocket. Only pay for banking you use.

open business bank account online

Open an account in less than 5 minutes

Ditch the suit and tie. Open your free business bank account online.

manage your small business bank account

Manage your accounts from one profile

Keep the friendship between you-you and the business-you, tight.

small business bank statements

Get the paperwork you need online

Keep the hassle out of your hustle. Get bank statements and proof of account at any time.

card

Free personalised Visa debit card

It’s the biz. Shop everywhere and withdraw money at Pick n Pay or Boxer tills for free. Pay only R8 per R1 000 to withdraw money at any ATM in South Africa.

small business rewards

Double Smart Shopper points

Earn Smart Shopper points wherever you shop and double points when you swipe and pay at Pick n Pay.

small business savings

Save more money on your terms

Open 10 GoalSaves for your business goals and 10 for your personal goals. No restrictions, fees or penalties. Just up to 10%* savings interest per year and a total limit of R100k across both.

Coming soon

free small business management app

Free management app

Manage stock lists, sales history and customer lists. Tap-tap.

retail point of sale systems small business

POS devices

Money straight in to your account. No more cash handling worries.

free pos app

Bulk payments

Save time and pay vendors, employees, or anybody directly to their bank account or cellphone number.

EveryDay Business account fees

Your customers only pay for what they buy. The same with us. You get a business bank account with no monthly fee and low to no transaction fees.

Click here to read our full terms and conditions for the EveryDay Business account.

What we don't charge for

ActionFees
Monthly fees
Monthly administration feeFree
Smart App (App) subscription feeFree
Internet Banking (IB) subscription feeFree
Notifications
SMS NotificationFree
Debit Card
Initial Debit Card Free
Banking Documents
Account statement (IB & App)Free
Beneficiary payment notification (IB & App)Free
Proof of account (IB & App)Free
Balance enquiries
Internet BankingFree
Smart AppFree
KioskFree
Cash Deposits
First deposit every month up to R5000Free
Cash Withdrawals
Tymecode till point @ PnP & BoxerFree
Debit card till point @ PnP & BoxerFree
Purchases
Debit card purchasesFree
Online purchasesFree
Prepaid electricity (IB & App)Free
Prepaid airtime, data & sms bundles (Internet Banking & App)Free

What we do charge for

ActionFees
Cash Withdrawals
Debit card till point @ other retailersR2 
Payments
Payment to other bank accountR2 
Debit order (internal)
Debit order (external - where your account is debited to pay a 3rd party)
Free
R2 
Cash Deposits
Tymecode till point @ PnP & Boxer (R4 per R1000 or part thereof)R4 
Debit card till point @ PnP & Boxer (R4 per R1000 or part thereof)R4 
Payments
Send money (account to Tymecode) R4 
Balance enquiries
Debit card other bank ATMR2 
Cash Withdrawals
Debit card other bank ATM (R8 per R1000) or part thereofR8 
Declines, disputes, and reversal fees
Debit order dispute: within 40 days#Free 
Decline fee* (due to insufficient funds or incorrect PIN)R2 
Late payment reversal to Tymebank R8 
Debit order dispute: Older than 40 daysR40 
Late payment reversal to other banksR40 
Unsuccessful debit card disputeR40 
Debit Card
Debit card replacement feeR40 

EveryDay Business account limits

Note: Monthly and daily limits are applicable. These limits are SHARED across both the EveryDay Personal and EveryDay Business accounts.

This is great! We know enough about you to consider you a good friend, and therefore you’re on the highest profile limits. We’ve been able to verify who you are from a great fingerprint match, and we have been able to verify your address. High five!

Maximum Account Balance

Max Bal

Everyday Account + GoalSave(S)R500 000
Maximum for GoalSave(S)R100 000

Monthly limit

Per Month

TOTAL MONTHLY limit of payments, prepaid purchases, send money, cash withdrawals, debit card purchases, debit orders and online purchasesR1 000 000

Transaction & Daily limits

Per Txn

Per Day

TOTAL DAILY limit of payments, prepaid purchases, send money, cash withdrawals, debit card purchases, debit orders and online purchasesN/AR100 000
Payment (EFT)R100 000R100 000
Prepaid PurchaseR3 000R3 000
SendMoney - EFTR5 000R20 000
SendMoney - VoucherR5 000R20 000
SendMoney USSD (EFT or Voucher)R3 000R3 000
Cash Withdrawals @ ATMR5 000R5 000
Cash Withdrawals @ Till point (Debit Card & TymeCode)R5 000R5 000
TOTAL DAILY limit of Cash Withdrawal @ ATM and Till point (Debit Card & TymeCode), and Send Money VoucherN/AR21 995
Debit Card PurchaseR25 000R25 000
Online PurchasesR10 000R25 000
Cash Deposits @ Till point (Debit Card and TymeCode)R5 000R20 000
Debit OrdersR100 000R100 000

Note that cash deposits are limited to the maximum account balance limit & that there are also limits applicable per transaction.

Examples:

  1. If you have R10 000 in your EveryDay Account, you can still save up to R100 000 in your GoalSave(s).
  2. If you have R100 000 in your GoalSave pocket(s), then you can still have up to R400 000 in your EveryDay Account.
  3. If you make a cash withdrawal at a till point of R3 000 - you can still make another cash withdrawal of R2 000 on the same day, because the daily limit is R5 000.
  4. If you make a cash deposit of R5 000 at a till (maximum per transaction) you can still make further deposits after that of up to R15 000; because the daily limit is R20 000. The R15 000 would need to be in multiple transactions of R5 000 maximum per transaction.
  5. Total cash deposits for a day cannot exceed R20 000.
  6. Total cash withdrawals for a day cannot exceed R20 000. SendMoney transactions to non-TymeBank customers are included in your cash withdrawal limit.

At all times remember that the profile limit is R500 000

How to open an EveryDay Business account

  • login

    Login to your account with Internet Banking (You won’t be able to open an EveryDay Business account via the app just yet, but we’re working on it!)

    Paperwork is not for today’s Mzansi-preneurs. No need for that. Just login to your EveryDay Personal account on our Internet Banking site.

  • questions

    Answer a few questions

    On Internet Banking, click on ‘Business’ at the top of your screen and answer some basic questions to create your EveryDay Business account.

  • cardcollect

    Collect your card

    Visit a TymeBank kiosk at a Pick n Pay or Boxer store to get your personalised Visa debit card.

    Note: You need to have an EveryDay Personal account with a ‘Good Friends’ bank profile to open an EveryDay Business account. To update your profile, visit a TymeBank kiosk and confirm your name, ID number, thumbprints, and residential address (no documents required).

Frequently Asked Questions about the EveryDay Business account

Do I earn Smart Shopper points as an EveryDay Business account holder?

Yes. If you are currently earning Pick n Pay Smart Shopper points from your personal […]

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How do I open an EveryDay Business account?

You need to be an existing EveryDay Personal account holder on a “Good Friends” profile […]

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Can a VAT registered Sole Trader get an EveryDay Business account?

Yes. Non-VAT registered and VAT registered Sole Traders can register for our EveryDay Business account.

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