10 August 2024 – As of this morning, Tymebank, the challenger digital banking company in South Africa, seems to have a major problem that is affecting all card and App transactions.
The Bank posted an alert on X indicating that it was aware of widespread problems that were affecting all card transactions and App transfers and payments. Their system seems to be deducting payments from accounts but vendors are not receiving the money or payments are showing that they are declined but the amount is still being deducted from account holders balances.
Even account transfers appear to be having the same issue with amounts being deducted from the account balance but failing to reflect in the other account.
Some Tymebank customers have been left stranded at shops and when filling up with petrol, with failed payment notifications at the vendor but amounts still being deducted from accounts.
The bank has not indicated when the issue might be sorted out and their call center is unavailable and they do not seem to be responding to emails or social media messages.
There have been indications recently that they have been struggling to scale and customer service levels would seem to have been falling after having very well rated service levels when they first launched.
The group also recently said that it was on the acquisition trail and it is somewhat of a worry for account holders that these type of issues are occurring and are seemingly going unaddressed, with many on social media indicating that they were fed-up with the bank’s service levels.
Account holders are advised not to attempt any card transactions or app payments until the issue is resolved.
