TymeBank Offers Grant Advance to SASSA Recipients

 

Recipients of SASSA Grants may often find that they run out of money before the end of the month. With the aid of TymeBank, SASSA grant recipients can now get an advance on their payments.

More than 25 million South Africans in need receive some form of financial aid or social grant from the government, helping them make ends meet. TymeBank noticed that many were still struggling, despite receiving this aid, as their funds would run out before month-end . Thus, the bank introduced GrantAdvance, which allows recipients to access part of their grant amount before the grant payment date (interest and fee-free).
 

What is a GrantAdvance?

Grant Advance was established by TymeBank whereby eligible grant recipients can access a maximum of R500 from their SASSA social grant. The amount accessed by the recipient will then be paid back when their next grant payment arrives, resulting in absolutely no cost from the recipient.

GrantAdvance is available to all grant recipients (excluding those who receive Covid-19 SRD Grants).
It can be used between the 20th and 29th day of the month. It is a once-off withdrawal, and depends on the grant amount/ type that the recipient qualifies for/ is currently receiving.
 

Benefits of choosing TymeBank for SASSA grant needs

• Convenience: With TymeBank, you can access your account anywhere and anytime. Simply log onto TymeBank through your mobile app, via a USSD code, or through internet banking.
• Financially friendly: With TymeBank’s GrantAdvance, you will save income as there are no monthly fees to access your own money.
• Easy to use: TymeBank prides itself on its user-friendly app interface, allowing grant recipients to easily check their balance, make payments, and transfer funds.
• Speed: With TymeBank advanced grant requests will be sent into the recipient’s personal TymeBank account instantaneously.
• Remaining funds will get deposited at the SASSA pay date: With TymeBanks’s GrantAdvance, the recipient will still receive their full grant amount on the designated grant payment date. Their advance will simply be repaid with their new grant amount.

 

** RELATED ARTICLES**

• Criteria to apply for a Social Grant
• How to apply for SASSA Social Grants
• SASSA Payment Dates

 

How to get your SASSA grant paid through TymeBank

• Ensure that you are registered with SASSA to receive a grant. Should you not be registered, ensure that you visit your nearest SASSA office.
• Visit your nearest Pick n Pay, Boxer, or TGF kiosk to open an account with TymeBank (alternatively, you can visit TymeBank’s website).
• Download and print your statement as “proof of bank account” from the internet banking app.
• Head over to your nearest SASSA office and speak to a consultant, informing them that you would like to use your TymeBank banking details. The consultant will then provide you with all the relevant required documentation and forms.

 

How to switch to TymeBank

Be sure to open a TymeBank account at Pick n Pay, Boxer, or TFG store. There, you will find a TymeBank ambassador who will aid you in completing your switch forms and provide you with proof of your account.
Once you have completed your switch forms through your proof of account, be sure to submit the forms to your nearest SASSA office.
 

About TymeBank

TymeBank is a digital bank, based on an ethos of simplicity, transparency and affordability.
The main shareholder of TymeBank is African Rainbow Capital: a fully black-owned and controlled South African investment company. This makes TymeBank the first majority black-owned retail bank within the country.

Through this, TymeBank hopes to meet its three key principles:

• Allowing all South Africans to have the right to access convenient and affordable banking, and participate, grow, and benefit from the country’s economy.
• Increasing the potential of all people in the country. TymeBank achieves this by designing their products, tools, and services to help people, communities, and businesses achieve their ultimate goals.
• Empowering the people of South Africa to take control of their money by helping them understand how money works and giving them a transparent view of their own financial situation. Through this, TymeBank aids its clients in making easier decisions that lead to financial security.