Is PayShap free to use?

It depends on your bank. PayShap itself does not set the fee, each bank does, so what you pay varies. With GoTyme Bank, Instant Payments via PayShap are free up to R5,000 and a flat R7 above that, up to the R50,000 limit.

Free Instant Payments with PayShap up to R5,000 with GoTyme Bank

Think about what you actually send. Splitting a bill. Paying the person who cuts your grass. Sending money home. A deposit for a weekend away. Almost all of it sits under R5,000, and every one of those payments is free with GoTyme Bank. We believe that Instant Payments should not be something you think twice about because of a fee.

A small fee for PayShap Instant Payments above R5,000

One flat fee of R7, and it stays R7 whether you are sending R5,001 or R50,000. No percentages and no tiers, so you always know the cost before you tap send.

Receiving a PayShap payment costs you nothing, whatever the amount.

Why PayShap fees differ between banks

Each participating bank prices PayShap on its own terms, which is why the answer changes depending on who you bank with. Some charge on every payment regardless of size. The fee always falls on the sender, so money arriving in your account is never charged.

At GoTyme Bank we are proud to offer free Instant Payments via PayShap under R5,000.

There is nothing new to download

PayShap is not an app, so there is no download, no subscription and no signup fee. Anything advertising itself as a PayShap app is not legitimate and should not be installed. With GoTyme Bank, PayShap is switched on automatically. Your ShapID is your registered cellphone number with @GOTYME, e.g. yourcellphonenumber@GOTYME - but there's nothing you need to set up as it’s all already done automatically.

Open a GoTyme Bank account and send money instantly for free.