TymeBank, owned by businessman Patrice Motsepe’s African Rainbow Capital, said on Friday it is on track to reach the half-a-million customer milestone at end-June.

TymeBank is the first of the new entrants to disrupt banking in SA by offering a zero-fee account. Since its launch in February, some rival banks have also launched no-fee products that include value-added services such as free airtime in a bid to defend their market shares. 

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now