Comparison Table: Key Fees and Features
| Feature | Bank Zero | TymeBank (GoTyme) | FNB Easy Zero | Capitec Global One | Discovery Bank |
|---|---|---|---|---|---|
| Monthly fee | R0 | R0 | R0 | R7.50 | R0–R195 (tier-based) |
| EFT send fee | R0 | R0 | R0 | R1.00 | R0 (standard) |
| Debit order fee | R0 | R0 | R0 | R3.50 | R0 |
| In-store card payment | R0 | R0 | R0 | R0 | R0 |
| Online card payment | R0 | R0 | R0 | R0 | R0 |
| ATM withdrawal (local) | R9/R1k | Free at PnP/Boxer tills; R8/R1k at ATMs | R7/R1k (FNB ATMs) | R9.50/R1k | R9/R1k |
| Interest on balance | 4.75% p.a. | 8–10% p.a. (MoreTyme savings) | Minimal | Minimal | Variable (Vitality-linked) |
| Card type | Mastercard | Mastercard | Mastercard | Mastercard | Visa |
| Card availability | Delivered (3–7 days) | Instant at kiosks | Branch or mail | Instant at branches | Mail delivery |
| Physical branches | None | TymeBank kiosks (PnP/Boxer) | Yes (FNB branches) | Yes (Capitec branches) | Yes |
| Lending products | None | None | Yes | Yes | Yes |
| App rating (approx.) | 4.3/5 | 4.4/5 | 4.2/5 | 4.6/5 | 4.4/5 |
| Ownership model | Mutual bank | Commercial bank | Commercial bank | Commercial bank | Commercial bank |
Data based on publicly available 2025/2026 pricing guides. Confirm current fees directly with each institution.
Bank Zero vs TymeBank (GoTyme)
Both banks charge R0 monthly and R0 for most digital transactions. The key differences:
- Cash access: TymeBank allows free cash withdrawals at Pick n Pay and Boxer till points (no ATM needed), which is a significant advantage for customers who shop at these retailers. Bank Zero charges R9/R1k at any ATM.
- Savings interest: TymeBank's MoreTyme savings product offers promotional rates of 8–10% p.a., which is materially higher than Bank Zero's 4.75% p.a. instant-access rate, though terms and conditions apply.
- Card security: Bank Zero's patented online transaction authorisation system is industry-leading and unique; TymeBank uses standard 3D Secure.
- Branches: TymeBank has self-service kiosks at PnP and Boxer outlets across South Africa for instant card issuance; Bank Zero has no physical presence.
Verdict: For free cash access at PnP/Boxer, choose TymeBank. For the best card fraud protection and a single fee for any ATM, Bank Zero has the edge.
Bank Zero vs Capitec Global One
Capitec is South Africa's largest bank by number of customers and offers a well-rounded digital banking experience with a nationwide branch network.
- Monthly fee: Capitec charges R7.50/month; Bank Zero charges R0.
- EFT and debit orders: Bank Zero wins — R0 vs Capitec's R1 per EFT and R3.50 per debit order.
- Physical branches: Capitec has over 800 branches; Bank Zero has none.
- Lending: Capitec offers a comprehensive credit and lending suite; Bank Zero does not lend.
- App: Capitec's app rates slightly higher (4.6/5 vs Bank Zero's approximately 4.3/5) and offers more features including credit management.
Verdict: For high-volume electronic payments, Bank Zero is cheaper. For a full-service bank with branches and credit, Capitec is the better all-rounder.
Bank Zero vs FNB Easy Zero
FNB Easy Zero is FNB's entry-level zero-fee account, designed for low-income earners.
- Monthly fee: Both R0.
- ATM withdrawals: FNB charges R7/R1k at FNB ATMs (cheaper than Bank Zero's R9/R1k) but R10+ at other ATMs.
- EFT fees: FNB Easy Zero has limitations on free EFTs above a certain volume; Bank Zero has no volume cap.
- Account functionality: FNB Easy Zero has restricted functionality compared to FNB's paid accounts; Bank Zero offers full functionality at zero cost for all users.
Verdict: For FNB ATM users, FNB Easy Zero may be marginally cheaper for cash. For full-featured zero-fee banking without restrictions, Bank Zero is more consistent.
Bank Zero vs Discovery Bank
Discovery Bank operates a Vitality-linked rewards model that offers cashback and benefits for healthy financial behaviour, but with higher monthly fees for most tiers.
- Monthly fee: Discovery Bank's entry account starts at R0 but standard accounts range to R195/month; Bank Zero is always R0.
- Rewards and cashback: Discovery Bank offers up to 25% cashback on purchases for active Vitality members — a compelling benefit not available at Bank Zero.
- Interest on balance: Discovery offers variable interest linked to Vitality status; Bank Zero offers a consistent 4.75% p.a.
Verdict: For rewards-oriented customers engaged with Vitality, Discovery Bank offers unique value. For pure zero-fee banking with no strings attached, Bank Zero is simpler and cheaper.
Our Verdict: Who Should Choose Bank Zero?
Bank Zero is the best choice for a South African who wants the absolute minimum in banking fees for electronic transactions, values strong card security, and does most banking digitally. It is not the right fit for heavy cash users, those needing credit products, or people who prefer physical branch access.