At GoTyme Bank, we’re continuously evolving our products to better meet the needs of our customers. As part of our transition from TymeBank to GoTyme Bank, we’ve introduced changes to how our accounts for business purposes are managed to give customers more flexibility, better access, and an improved overall experience. Existing business account customers are the first to get access to our new multiple account functionality, with further enhancements to follow in future phases.
Our goal is simple: to help you manage your money easier.
What’s changed?
Existing TymeBank business accounts have moved into the GoTyme Bank app as a second account, which means customers can now access and manage everything in one place.
Instead of separating accounts across different platforms or experiences, everything now lives in one app to make your day-to-day banking more seamless.
With this update, you can:
- View balances for both accounts
- Make payments
- Transfer money instantly between your accounts
- Access statements and proof of account for both accounts
No more switching between apps or platforms; just simple, streamlined banking.
Importantly, as part of this transition, some business-specific functionalities will not be carried over:
- The bulk payment feature will not be available in the GoTyme Bank app. However, any existing beneficiary lists previously linked to bulk payments will be retained, so customers will not lose these beneficiary details.
- Please also note that value-added services like airtime, data and electricity cannot be purchased with the second account. These products are available through your primary account.
What is improving
This update to your account unlocks a number of key benefits:
Free, instant payments – you can now make instant payments directly from your second account, free for payments up to R5,000 and a R7 flat fee for payments up to R50,000.
Full access, no matter your device - you can now manage your accounts on both Android and iOS, removing previous limitations.
Faster, easier money management – transfer money instantly between your accounts and track everything in real time.
A more powerful app experience - search and filter your transactions, manage cards, and request documents in a few taps.
Your savings, simplified
We’ve also made it easier to manage your savings. The GoalSaves that were linked to your business account are now consolidated into your personal profile and continue to earn interest.
Even more good news is that you can now create up to 20 GoalSaves (previously 10), giving you more flexibility to save towards different goals, all in one place.
The total savings limit remains R250,000, and if your balance exceeded this due to the transition, your full amount will continue earning interest but you won’t be able to add more funds beyond the cap.
Remember: we’ve also simplified how you qualify for our top savings rate, making it easier for more customers to benefit. To earn 10% on GoalSave, you now only need to withdraw from the new GoTyme Bank app, ensuring you give the 10 days’ notice and have no previous partial withdrawal for that GoalSave. The previous conditions of 10 transactions and activity for 3 consecutive months no longer applies in the new app.
What hasn’t changed
While the experience is improving, the fundamentals remain the same. You can still use your account for business purposes, making payments and transacting as usual. Your account number and balances remain the same, so there’s no impact on debit orders or existing payments.
In addition:
- Access your full transaction history for either account
- All your payment beneficiaries are available in the app
- Download statements and proof of account with your business name reflected
- Continue using your existing debit card
What this means for you
If you use your account for business, nothing changes in how you operate, but a lot improves in how you manage it. You now have more flexibility, better visibility, easier access, and a more integrated banking experience.
Looking ahead
These changes are just the beginning. We’re continuing to build and enhance our offering for all our customers, with more features and improvements on the way in the coming months.
And as always, we’ll keep you informed about what’s changing, what’s staying the same, and what it means for you.