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. 

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