Tymebank Account – Everyday Business Account
With a TymeBank Account, one may expect to benefit more while paying less. TymeBank has made the decision to add business banking to its list of available products. For small enterprises or freshly formed firms in particular, the TymeBank business account’s simplicity of maintenance makes it ideal.
For firms that are not CIPC-registered, the EveryDay business account is mainly designed. Sole traders may gain more from the EveryDay business account since it is distinct from one’s personal account.
The EveryDay Business Account is connected to one’s TymeBank personal account for convenience. It will not be difficult for those who are merely enrolled for provisional tax to do business using this account
TymeBank EveryDay Business Account
A specially designed business account for small company owners is TymeBank EveryDay Business Account. The initial till deposit is free, and there are no monthly service fees for the account.
The account is designed to help single proprietors and other small company owners distinguish between their business and personal finances. The EveryDay business account is connected to the account holder’s personal account profile.
Therefore, the EveryDay business account may be accessed from the primary profile of the account user. Limits may be changed via the personal profile, which is also where transactions are performed.
The TymeBank EveryDay business account has quite cheap fees. For instance, whereas other banks charge between 2.25% and 2.75%, the international transaction cost for all international transactions is 2%.
How to Open Account Tymebank?
To open this account, applicants need to certify the following pre-requisites.
- Have a valid SA ID number
- Be a registered user on the banking app.
- Applicants need to be above 18 years of age.
If you don’t have a profile, you can get started by visiting the following link to register register.tymedigital.co.za
Explaining How the Everyday Business Account from TymeBank Operates
Applying for an EveryDay business account is open to both self-employed people and registered company owners. The account is easy to use, and it is activated upon the submission of a successful application that includes all necessary data.
TymeBank EveryDay Business Account may be used to transfer money between any bank account in South Africa and to send money abroad. Transactions between the company account and the personal TymeBank account of the account holder are simple since the accounts are connected.
Although the account does not have a monthly service charge, certain transactions do. There are certain transactions that are charged a cost, but it is not set as local fees are. A 2% fee is charged for each international transaction.
You may create a goalsaves if you have a TymeBank EveryDay Business Account. Goalsaves is a no-fee savings account that may be set up towards a certain purpose. Holders of EveryDay Business Accounts have the ability to set up to 10 goalsaves to guarantee that their goals for business savings are always reached.
Tymebank’s Everyday Business Account Has Several Benefits.
This account has many advantages and features that includes but not limited to the following.
- Interbank transfers and withdrawals are free.
- There is no documentation necessary to apply for a TymeBank EveryDay account.
- Applying for a TymeBank EveryDay Business Account is simple.
- There is no monthly service charge associated with the account.
- When utilizing the account at any retailer, account members may accumulate smart shopper points.
- Purchases made at Pick n Pay give account holders double points.
- Open 10 goalsaves for the regular business account.
- On their savings, account holders may earn up to 7% interest annually.
- The account includes a debit card for convenient online and in-store purchases at merchants accepting Visa cards.
- The account holder receives free delivery of bank statements, which are also available for online request at any time.
- The account has an instant EFT feature that allows payments to be made right away to other banks.
Takeway
Small company operators are best suited for the TymeBank EveryDay company Account. Although any size firm may create an account with this one, its main users are those who run unregistered enterprises.
This is as a result of the account’s ease of opening and lack of documentation requirements.
The EasyDay business account still has a long way to go in terms of business products. A specialist business banker is one of the services that have to be included to cater to company owners with unique banking requirements.
