Alex TymeBank clients can now access SRD grants a day earlier

Alex residents who are clients of the TymeBank with the everyday account will now have the privilege of being paid their social relief of distress (SRD) grant a day early.

TymeBank, one of the fastest growing digital banks, is one of the banks contracted by Sassa to help distribute the R350 grant and for its part, it has upped the game for its clients, allowing them to access their payments a day early.

This is part of the bank’s efforts to support the government’s drive to ease economic hardships on the unemployed and vulnerable sectors of society, said Cheslyn Jacobs, who is a chief commercial officer at TymeBank.

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While official statistics show a slight decrease in unemployment in South Africa during the second quarter of this year – down from 34,5% to 33,9% – the situation remains grim for the millions of people who are without jobs and living below the poverty line, Jacobs added.

According to figures released by Sassa, more than 60% of applicants are under the age of 35, while 40% have matric and 5% have tertiary education.

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Jacobs concluded, “If one looks at the profile of SRD grant applicants, it’s clear that the economic suffering in our community is deep and cuts across a wide range of social groups and the Sassa grant brings much-needed relief, and we are working with government and other industry role players to ensure that those who qualify for the grant receive their money quickly.

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”Applicants are reminded that they must reconfirm their grant with Sassa at least once every three months.”