TymeBank and Flash, a South African payments solutions provider, have partnered to make it possible for TymeBank customers to withdraw cash at over 172,000 spaza shops and traders across the country. As a result, the bank now offers more cash withdrawal options and locations than any other bank in South Africa.
“While TymeBank supports the country’s shift to a cashless society, the reality is that cash is still used extensively in our communities and the informal market. Flash provides an accessible, convenient and easy-to-use cash-out solution, which means TymeBank customers can withdraw cash from a convenient location, reducing time and money spent travelling. They also save on fees, as withdrawals cost less than they would at an ATM,” says TymeBank’s Chief Strategy Officer, Greg Illgner.
Flash’s Head of Marketing, Sarah Griffiths, says: “Flash’s aim is to remove unnecessary barriers. Our technology simplifies operations so that business owners can focus on serving and growing their businesses, while providing a convenient service to their customers and communities. This partnership with TymeBank does exactly that.”
How to get cash in a Flash
To withdraw cash, TymeBank customers just need to generate a cash voucher via TymeBank’s USSD channel (*120*543#), which they can then cash out at over 172,000 Flash merchants nationwide. All the Flash devices have been configured to accept the TymeBank Flash Cash voucher. A R7 flat fee is applied and added to the withdrawal amount, i.e. if a customer generates a R350 voucher, they will pay a total of R357 from their TymeBank EveryDay account.
Other cash withdrawal options for TymeBank customers
- Free withdrawals using TymeCode (generated via TymeBank App or USSD) at 15,000 Pick n Pay and Boxer till points
- R3 flat fee using the TymeBank Visa debit card at any retailer that supports cashback or purchase with cashback (Pick n Pay, Boxer, Shoprite Checkers, SPAR, Woolworths) as well as over 60,000 Kazang merchants
- R10 for every R1000 (or part thereof) for cash withdrawals at over 30,000 ATMs.
TymeBank Kiosks and Ambassadors are in approximately 1000 Pick n Pay, Boxer and TFG stores. This means TymeBank offers its 9 million customers face-to-face service at more locations than any other bank. The average branch network size of SA’s traditional banks is well below 600.
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