DO NOT BANK WITH TYMEBANK!!!

Do Not Bank With TymeBank because your money is not safe due to their poor and inadequate security systems, and worse, they lack accountability. A ******** can simply go to a TymeBank Kiosk with a 4-digit OTP and voila, they access to your account and they walk away with a new bank card that gives them access to all your hard-earned cash. No proof of ID, nothing! Just a 4-digit OTP. And the bank calls this robust security systems. What a joke!!!!

Here's the story: In January 2024, a ******** did a sim swap of my mobile number with MTN. They went to a TymeBank Kiosk in Vanderbijlpark where they were issued a bank card in my name, giving them access to my account. THEY DID NOT NEED TO PRODUCE ANY FORM OF IDENTITY. NO BIOMETRIC VERIFICATION. Nothing!! ZERO verification, except for this bank issued OTP that came in via SMS on their phone having hijacked my number. They then went on a shopping and withdrawal spree. By the time I discovered that the account had been hacked, over R8000 had vanished. To this very day, TymeBank refuses to take accountability. If anything, they seem to put the blame on MTN. I brought the matter to the National Financial Ombud's attention. They simply failed to assist. I will do a separate review on that institution, but they are useless, if you ask me. All I got from them is "The bank says" or "the bank confirms" blah blah blah. What about what I say? Do my experiences that are different to what the bank claims even matter to them? What exactly is the NFO's role because to me they sounded like an extension of TymeBank? I will do a review on MTN as well because they are just as guilty in this regard. But, given all the ********ity that is happening at different banks, the ultimate onus is with TymeBank to protect my money from ******** activity.se

TymeBank claims that at the kiosk, a client can either present the OTP or use biometric verification. I insist that this was not my experience when I went to claim-back my account after the *****. The kiosk assistant wanted both the OTP and I had to place my thumb on some machine. So how did the ********/s easily gain access to my account? Was the kiosk assistant in on it?

Bottom line is this: ********s are getting more and more advanced. TymeBank knows this and yet they still relax their security systems. Every bank you visit insists on verifying your identity first, before any transaction. I would understand if I had lost my ID and then ********s accessed my account but no, turns out an OTP is my new form of identity. Really TymeBank!!!!

The worst part was not getting any form of communication from TymeBank. They took forever to reply. I had to nag them for an update. Promises were made that they never kept to. A useless bank of note.

The only reason TymeBank are getting a review now, is because the NFOSA only confirmed to me just hours ago that they will be of no assistance to me. Another useless institution that I had to chase after for answers after waiting for weeks.