Mama Money

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.

Founded 2015. Play copy still says ‘licensed and regulated by the South African Reserve Bank’ — that is the payments perimeter, not a bank charter. Directories flatten it into TymeBank. Different objects.

Mama Money lists Remittance / payments fintech. Not a licensed bank. Not CODI under South African Reserve Bank in South Africa. On safeguarding we currently write: 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.. Holder / issuer line: Card / wallet rails via partners — Mama Money is not a bank. An AML programme is claimed. There is no IBAN-class local rail on the flags we store. We list 1 live markets on the product. As we score the sticker: monthly Card account R29/mo on 2026 published schedule — confirm live; FX Remittance spread is the product; ATM Card schedule. This desk would open it for: People in South Africa sending money home who already keep salary at a CODI bank.

What it does well: SARB-supervised remittance; Passport / asylum onboarding; Corridor breadth. What to watch: Not a bank; Not CODI; R29 card fee on the 2026 blog schedule. Desk score 6.6 / 10 (safety 4.8, fees 6.4, features 7.4, app 7.8). Last verified 2026-08-30. Headquartered in Cape Town, South Africa; founded 2015. None of this is advice — it is a file so you can read the entity before the card colour.