SA’s fastest-growing banks split on verification price increase
Capitec supports regulatory change, criticised by TymeBank, ushering in rocketing fees for verification
25 June 2025 - 15:35
UPDATED 25 June 2025 - 23:22
Capitec has come out in support of the regulatory change ushering in a staggering 66-fold jump in fees for digital identity verifications, turning a regulatory burden into a competitive advantage as the government’s move undermines the zero-fee model that underpins TymeBank’s strategy.
The home affairs department’s move to upgrade the national population register has drawn sharp criticism from Patrice Motsepe-backed TymeBank, which slammed it as threatening its commitment to pull in millions of low-income individuals into the financial system. It already has 11-million clients...
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