• TymeBank has announced a partnership with Flash, a South African payments solutions provider.
• The pair are making it easier for TymeBank customers to make cash withdrawals from local spaza shops.
• Moving forward, customers will be able to make cash withdrawals from more than 172 000 spaza shops across SA.

TymeBank has made a significant announcement when it comes to customers being able to make cash withdrawals. This as the company has partnered with Flash, a South African payments solutions provider to facilitate cash withdrawals from local spaza shops and merchants.

Moving forward TymeBank customers will be able to withdraw cash at over 172 000 spaza shops and traders across the country. As a result, the bank says it now offers more cash withdrawal options and locations than any other institution in South Africa.

“While TymeBank supports the country’s shift to a cashless society, the reality is that cash is still used extensively in our communities and the informal market. Flash provides an accessible, convenient and easy-to-use cash-out solution, which means TymeBank customers can withdraw cash from a convenient location, reducing time and money spent travelling. They also save on fees, as withdrawals cost less than they would at an ATM,” noted TymeBank’s chief strategy officer, Greg Illgner.

“Flash’s aim is to remove unnecessary barriers. Our technology simplifies operations so that business owners can focus on serving and growing their businesses, while providing a convenient service to their customers and communities. This partnership with TymeBank does exactly that,” added Flash’s head of marketing, Sarah Griffiths, in a release shared with Hypertext.

How to make cash withdrawals

In order to make cash withdrawals, TymeBank customers need to generate a cash voucher via TymeBank’s USSD channel.

To do so they must do the following:

• Dial *120*543# on their phone,
• This will generate the voucher,
• The voucher can be presented to any Flash merchant nationawide,
• Once the voucher is authenticated, it will trigger the cashout.

TymeBank adds that all the Flash devices have been configured to accept the TymeBank Flash Cash voucher. It also points out that a R7 flat fee is applied and added to the withdrawal amount. This means that if a customer generates a R350 voucher, they will pay a total of R357 from their TymeBank EveryDay account. 

Other TymeBank cash withdrawal options include:

• “Free withdrawals using TymeCode (generated via TymeBank App or USSD) at 15,000 Pick n Pay and Boxer till points;
• R3 flat fee using the TymeBank Visa debit card at any retailer that supports cashback or purchase with cashback (Pick n Pay, Boxer, Shoprite Checkers, SPAR, Woolworths) as well as over 60,000 Kazang merchants;
• R10 for every R1000 (or part thereof) for cash withdrawals at over 30,000 ATMs.”

[Image – Photo by Sincerely Media on Unsplash]