Does Tymebank send money expire? It’s something that you will be asking yourself if you have received money this way. Tymebank is one of the banks in South Africa that allow account holders to send money to anyone in the country that has a phone number. With mobile money, cash is deposited into the number. It means the person receiving the money does not need to have a bank account. But does this money expire? And if yes, what is the expiry?
The Tymebank Send Money voucher is valid for how long?
Tymebank Send Money expires after 7 days. So, when somebody sends you money this way, you have 7 days in which to collect it. Should you fail to do so within this time period, the money will be deposited back into the sender’s account.
Why is this service important?
That’s the answer to the question Does Tymebank Send Money expire. The answer is yes, Tymebank Cash Send does expire after a week. But why is this service important.
Tymebank is not the only bank in South Africa that allows people to send out money to people’s phones. Other examples are Standard Bank with it’s Instant Money and Capitec with it’s Send Cash.
These services are very important. They allow South Africans to receive money on their phones even if they do not have bank accounts. This money is collected from a wide range of outlets. In most instances, collection will be at retail stores.
That puts banking accessible to the majority of South Africans. Anybody can send money anywhere and the receiving person will get it instantly. Mobile money is taking root in South Africa and it is being driven by banks and other service providers.
In this article, we covered the topic does Tymebank Send Money expire. It was noted that Send Money does expire after 7 days. So, it’s something to keep in mind when sending money. Make sure that you the person getting it will be able to collect it within this time frame. You may also be interested in learning the Tymebank Send Money collection points.