GoTyme Bank Pushes Free Instant PayShap Payments in SA

In Short

GoTyme Bank is running a new “Move Money – Instantly and Free” campaign in South Africa.

Customers can send instant payments up to R5,000 per transaction for free. Payments above R5,000 carry a flat R7 fee.

What Happened

GoTyme Bank launched its “Move Money – Instantly and Free” campaign on September 9, 2026.

The campaign targets a common pain point in everyday banking, paying extra to move money immediately.

GoTyme Bank says customers can make instant payments to participating South African bank accounts via PayShap. PayShap is South Africa’s real-time payments rail, similar to a shared network that lets banks send money to each other within seconds.

Under the offer, instant transfers up to R5,000 are free, and transfers above R5,000 cost R7 per transaction.

The bank launched the campaign from its Experience Hub at Mall of Africa in Johannesburg. The hub is designed as a consumer engagement space, including coffee and branded merchandise, rather than a traditional branch.

GoTyme Bank said it will take the Experience Hub concept on the road with pop-ups in other cities and towns.

Why It Matters

Instant payments are becoming the expected baseline for consumer transfers, especially for rent, school fees, shared bills, and small business payments.

In South Africa, many banks still charge per-transaction fees for immediate transfers. Those small fees add up for users who move money several times a month.

By making instant PayShap payments free up to R5,000, GoTyme Bank is competing on daily usage, not just account opening or app features. It is also making pricing simpler, with one clear fee above a threshold.

This approach could pressure other banks to rethink how they price real-time payments, as digital banking competition shifts toward removing friction in routine money movement.