South Africans who have TymeBank accounts can easily send money to friends and family using the bank’s SendMoney feature, which is sometimes called cash send.
It is therefore important to know how to send money with TymeBank using this feature and where to withdraw TymeBank cash send. This will ensure that the recipient gets the money as quickly as possible, whether they have an account with TymeBank or not.
How to send money with TymeBank
To send money with TymeBank using the SendMoney feature (sometimes known as cash send), follow the steps below:
- Log into your EveryDay account using the Smart App (TymeBank’s mobile app) or internet banking.
- Select the SendMoney option.
- Enter the recipient’s cellphone number and the amount you wish to send.
- Confirm that these details are correct, because cash send transactions cannot be reversed.
- Complete the transaction.
- You will receive an SMS confirming that the transaction is complete.
If the recipient has an EveryDay account, the money will reflect immediately in their account. They will also receive an SMS alerting them of the transaction.
If the recipient does not have a TymeBank account, they will receive an SMS on their cellphone number showing the amount you sent and a 10-digit voucher number, which is valid for seven days.
Where to withdraw TymeBank cash send
Once you have received the SendMoney 10-digit voucher number, you can withdraw TymeBank cash send at any Pick n Pay or Boxer till point as well as TFG stores. Withdrawal costs R7. TymeBank voucher withdrawal at ATM was not possible at the time of publishing.
If you have a TymeBank EveryDay account, you can also withdraw the funds at any ATM for R10 per R1,000 or at Pick n Pay, Boxer or TFG stores for free.
Can you reverse TymeBank cash send?
According to the bank, you cannot reverse TymeBank cash send. “SendMoney transactions cannot be reversed once they are done. The voucher code expires after seven days and the money will be returned to your account if it has not been withdrawn,” TymeBank states on Twitter.
It is therefore super important to check and double check that the details you enter are correct before sending the money.
TymeBank SendMoney fees
If you’re sending money to someone who also has a TymeBank EveryDay transactional account, SendMoney is free of charge. The recipient will also withdraw the cash at Pick n Pay, Boxer or TFG stores for free. However, a charge of R10 per R1,000 applies if they withdraw at an ATM.
If the recipient does not have a TymeBank account, it will cost them R7 to withdraw at Pick n Pay, Boxer or TFG stores. This means that if you send them R100, they will receive R93. If you want them to receive R100, you need to send R107.
Hopefully, you now know how to send money with TymeBank using SendMoney or where to withdraw TymeBank cash send. For more information, visit the bank’s SendMoney help and support page. Alternatively, call their customer care number 0860 999 119 or email firstname.lastname@example.org.