Can I Withdraw Tymebank Money at Capitec ATM

TymeBank offers a convenient mobile banking experience, but it doesn’t have its own network of ATMs. This leaves users wondering: can I access my TymeBank cash at a Capitec ATM? Well, you will find all the answers you need in this article. Read on!

Can I Withdraw Tymebank Money at Capitec ATM

The answer is yes, you can withdraw money from your TymeBank account at a Capitec ATM, but there will be a fee. TymeBank charges you R8 per R1,000 withdrawn at any ATM that isn’t theirs. This means an R1000 withdrawal would incur an R8 fee on top of the standard Capitec ATM withdrawal fee (which may vary depending on your Capitec account type).

Also Check: Tymebank Send Money to Cellphone Number

Alternatives to Capitec ATMs

Luckily, several ways to withdraw your TymeBank cash without incurring high fees exist.

• Pick n Pay & Boxer Stores: TymeBank has partnered with Pick n Pay and Boxer stores. You can withdraw cash directly at the till point for a significantly lower fee of R2 (compared to R8 at ATMs). This is often the most cost-effective way to withdraw TymeBank cash.

• Send Cash via Capitec App (for someone else to collect): If you know someone with a Capitec account, you can use their app’s “Send Cash” feature to send money to them for free. They can then collect the cash at any Capitec branch or ATM without a fee.

Here’s a quick table summarizing the options:

Method	Fee
Capitec ATM	R8 per R1000 (on top of Capitec’s ATM fee)
Pick n Pay or Boxer Till Point	R2
Send Cash via Capitec App (for collection by someone with a Capitec account)	Free

Also Check: How to Book an Appointment at Home Affairs?

How much does it cost to withdraw cash from a Capitec ATM with my TymeBank card?

TymeBank charges an additional R8 per R1,000 withdrawn on top of any standard Capitec ATM withdrawal fee

Are there cheaper ways to withdraw cash from my TymeBank account?

Yes! Here are two cost-effective alternatives:

• Pick n Pay and Boxer Stores: You can withdraw cash directly at the till point for a significantly lower fee of R2.
• Send Cash via Capitec App (for someone else to collect): If you know someone with a Capitec account, you can use their app’s “Send Cash” feature to send money to them for free. They can then collect the cash at any Capitec branch or ATM without a fee.

Also Check: How Do I Check my SARS Tax Return Balance?

Is Tymebank better than Capitec?

Yes, Tymebank seems to be better than Capitec. In terms of fees for withdrawing cash, TymeBank is generally cheaper, especially with Pick n Pay/Boxer withdrawals (R2) vs Capitec ATMs (variable fees). However, Capitec offers more branches and a wider range of products if you need them.

How long does it take from Tymebank to Capitec?

Transfers between TymeBank and Capitec typically happen within 1-2 business days. This means if you initiate a transfer on a weekday, the recipient should receive the funds by the next business day at the latest. However, there can be occasional delays, so it’s best not to rely on the money arriving instantly.

Conclusion

While Capitec ATMs offer a way to withdraw your TymeBank cash, the fees can be high. Thankfully, you have budget-friendly alternatives like Pick n Pay and Boxer stores, or leveraging someone’s Capitec account for cash withdrawals. By understanding these options and their associated costs, you can make informed decisions and ensure you’re getting the most out of your TymeBank experience.