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Free everyday instant payments up to R5,000
Most everyday Instant Payments are small. Splitting a bill, sending money to your mom or settling up with a friend. With GoTyme Bank every one of those Instant Payments via PayShap is free, up to R5,000.
Above R5,000 you pay one flat fee of R7, all the way to the R50,000 limit.
What is PayShap?
PayShap is South Africa's real-time payment system by PayInc. It connects participating banks so money can move between them in seconds, at any hour, on any day of the year - affordably. There are no cut-off times and no waiting for the next business day.
PayShap is not a product you sign up for.
PayShap is automatically available to all GoTyme Bank customers when you make an Instant Payment or Payment Request.
Get paid with Instant Payments & Payment Requests
Asking for money is the awkward part. Payment Request via PayShap takes care of it.
Send a request straight to someone's phone and it arrives in their banking app. They approve it, and the money is in your GoTyme Bank account instantly. No reminders, no screenshots of your account details, no chasing.
Payment Requests are completely free on the GoTyme Bank app.
Limits may vary by bank. Always check the amount with the person you're requesting payment from.
Bring your money with you
Switching banks shouldn't mean waiting days for your own money. Use a Payment Request to pull funds from your account at another bank straight into GoTyme Bank.
How to move money over: Select Payment Request from the menu, enter your cellphone number or your other bank's account number and pick that bank from the list. The request appears in their app. Approve it and the money is in your GoTyme Bank account instantly.
Confirm before you send.
Pay to a cellphone number and you'll see the registered name attached to that ShapID. If the name doesn't match the person you have in mind, stop.
Authorise every time.
Biometrics or a one-time PIN on every payment.
We'll never ask you for your PIN.
Not by phone, not by SMS, not on social media. If someone does, it's a scam.
Sent it to the wrong person?
Unfortunately Instant Payments are non-reversible which is why we show you the recipient's name before you confirm.
PayShap FAQs
PayShap is South Africa's real-time interbank payment system. It lets you send money to someone at another bank and have it arrive in seconds, 24 hours a day, every day of the year.
No. PayShap isn't an app and there's nothing separate to install. You use it inside the GoTyme Bank app when you make a payment.
PayShap payments up to R5,000 are free. From R5,001 up to the R50,000 limit there's a single flat fee of R7. Receiving a PayShap payment costs you nothing.
You can send up to R50,000 in a single Instant Payment via PayShap. If you need to move more than that, use a Standard Payment instead, which is free and goes up to R500,000.
A ShapID is a simple alias for your bank account, usually your cellphone number, so you can receive money without sharing your account number. With GoTyme Bank it's set up automatically, so there's nothing for you to do.
Yes. A ShapID (cellphone number with a bank identifier e.g. yourcellphonenumber@GOTYME) makes it easier for people to pay you, but PayShap also works with ordinary bank account numbers. You can send and receive either way.
Seconds. Both you and the recipient get a notification once it clears. If a payment hasn't landed, check that the recipient details were right and that the money actually left your account, then contact us through in-app chat.
No. PayShap payments are final and non-reversible once they're authorised, which is why we show you the recipient's name before you confirm.
No. PayShap works only between participating South African banks. For payments outside South Africa you'll need an international transfer.
Update your number in the GoTyme Bank app and your ShapID updates with it, so people paying your old number won't reach you. Tell anyone who pays you regularly.
