Best GoTyme Bank alternatives

#1 alternative

Bank Zero

active

Sandton mutual bank. SARB. CODI R100,000. App-only South African bank.

Sandton · App-only SA · Mutual / founder capital

6.9Mixed

Bank Zero Mutual Bank is a SARB mutual bank. CODI covers qualifying deposits up to R100,000. Michael Jordaan and Yatin Narsai built an app-only clearing bank in Sandton. That is a bank. It is not Capitec-scale and it is not a multi-currency EMI. Salary in rand can live here; FX still belongs on Wise.

Best for: South African residents who want a SARB mutual bank on a phone, not a Big Five branch.

Licence

Mutual bank — Bank Zero Mutual Bank

Protection

CODI (Corporation for Deposit Insurance) up to R100,000 per qualifying depositor — mutual banks are in by law

Monthly

Low / free core pitch — confirm live

#2 alternative

Discovery Bank

active

SARB commercial bank. CODI member by name. Vitality-linked banking, not a fintech partner.

Sandton · Discovery clients / SA digital bank · Discovery Limited

7.0Solid

Discovery Bank Limited is a South African registered bank. The Prudential Authority’s CODI member list names it in full — that is the safety line, not a blog. Qualifying deposits: R100,000 per depositor at this bank. GoTyme is the free-account digital peer. Bank Zero is the mutual. Discovery Bank is the behavioural-rewards bank for people already paying Discovery premiums. It is not a fintech with a partner bank. Fees and Vitality Money rules move — read the live tariff on discovery.co.za/bank. This file does not invent a monthly price the operator page did not print this pass.

Best for: South Africans already in the Discovery stack who want a named SARB bank, not a wallet.

Licence

Registered bank — Discovery Bank Limited

Protection

Discovery Bank Limited is named on the South African Reserve Bank’s CODI member-bank list. Qualifying deposits are covered up to R100,000 per depositor under CODI. Not pass-through via a partner.

Monthly

Vitality / product-dependent — confirm live on Discovery Bank

#3 alternative

Mama Money

active

South African remittance and wallet. SARB-supervised payments. Not a SARB bank. Not CODI.

4.6

Cape Town · Remittance-scale · Venture / Tencent-era

6.6Mixed

Mama Money is a Cape Town remittance app. SARB-supervised payments, not a licensed bank. CODI does not follow. Bank Zero is the SARB mutual bank on this desk. The Mama Card is a spend skin with a published R29 monthly fee on 2026 copy. Use it to send. Keep rand salary at a member bank.

Best for: People in South Africa sending money home who already keep salary at a CODI bank.

Licence

Remittance / payments fintech. Not a licensed bank. Not CODI

Protection

Not CODI. CODI covers eligible deposits at SARB-licensed banks (Bank Zero on this desk). Mama Money wallet balances are payments float, not a bank deposit.

Monthly

Card account R29/mo on 2026 published schedule — confirm live

#4 alternative

Yuh

active

Yuh is not a bank. Swissquote Bank Ltd is. esisuisse cover is CHF 100,000, shared.

Gland · Swiss all-in-one app · Swissquote (100% after July 2025)

7.6Solid

Yuh is not a bank. The English homepage says it in one paragraph: Swissquote Bank Ltd provides the banking, FINMA authorises that bank, and esisuisse cover is CHF 100,000 shared with Swissquote. July 2025 ended the PostFinance joint venture. If you already hold cash at Swissquote, do not count CHF 100,000 twice. Zak is Bank Cler. Neon sits at Hypothekarbank Lenzburg. Read those files separately.

Best for: People who live in Switzerland and want spend plus invest, and who accept Swissquote as the bank.

Licence

Fintech app — not a bank

Protection

Yuh itself is not a bank. Banking sits at Swissquote Bank Ltd, FINMA-authorised. esisuisse covers eligible deposits up to CHF 100,000. Yuh and Swissquote are one entity, so the cap is shared.

Monthly

No fees whenever possible — live list on yuh.com/en/pricing

#5 alternative

Chase UK

active

J.P. Morgan Europe Limited trading as Chase. UK bank, PRA/FCA, FSCS up to £120,000.

London · UK digital bank · JPMorgan Chase

7.6Solid

Chase UK is a bank. The legal name is J.P. Morgan Europe Limited. PRA-authorised, FCA-regulated, FSCS up to £120,000. It is a useful UK current account with honest travel spend. It is not Revolut’s multi-country stack and not a US Chase login. UK tax residents only.

Best for: UK residents who want a JPMorgan current account in an app, with FSCS, and cheap travel spend.

Licence

UK bank

Protection

FSCS up to £120,000 per depositor per bank (Chase UK FSCS page) at J.P. Morgan Europe Limited.

Monthly

£0

#6 alternative

Neo Financial

active

Calgary fintech. Not an OSFI bank. Eligible cash sits in trust at CDIC-member institutions.

Calgary · Canadian fintech · Private

6.8Mixed

Neo Financial is not a bank. Neo Financial Technologies Inc. is a Calgary fintech, a FINTRAC money-services business and a payments-Canada PSP. CDIC cover, when it applies, follows the member institution that holds the funds in trust — Peoples Bank of Canada is named on the HISA. File it as a Canadian app with a partner-bank deposit, not as EQ Bank.

Best for: Canadian residents who want the Neo app and will read which CDIC member holds the cash.

Licence

MSB and payment service provider

Protection

Neo is not a CDIC member. Eligible funds held in trust at CDIC-member institutions can be covered up to CAD $100,000 per beneficiary per member institution.

Monthly

$0 monthly on chequing, on the September 2026 agreement