ZA · ZAR

South Africa digital banks

Bank Zero is a SARB mutual bank in Sandton — app-only, clearing rails. GoTyme Bank is the 2026 name for TymeBank (same SARB bank, CODI R100,000 on its footer). Discovery Bank Limited is named on SARB’s CODI member list. CODI launched in April 2024. A wallet with a Visa sticker is not CODI. The Big Five still dominate; this page exists so a ‘SA neobank’ search lands on a licence.

4Live on NeoBankDB

Regulator

South African Reserve Bank (SARB) / Prudential Authority

Deposit scheme

CODI covers qualifying deposits up to R100,000 per depositor; mutual banks are in by law

In this market

Licence still sits on the product

Product	Score	HQ	Monthly	FX	Users	Licence
GoTyme Bank	7.2	Johannesburg, South Africa	Free banking on the homepage pitch — T&Cs apply	Not a travel FX product	South Africa digital bank	Registered bank — GoTyme Bank Ltd (formerly Tyme Bank Limited)
Discovery Bank	7.0	Sandton, South Africa	Vitality / product-dependent — confirm live on Discovery Bank	Bank FX	Discovery clients / SA digital bank	Registered bank — Discovery Bank Limited
Bank Zero	6.9	Sandton, South Africa	Low / free core pitch — confirm live	Rand product, not Wise	App-only SA	Mutual bank — Bank Zero Mutual Bank
Mama Money	6.6	Cape Town, South Africa	Card account R29/mo on 2026 published schedule — confirm live	Remittance spread is the product	Remittance-scale	Remittance / payments fintech. Not a licensed bank. Not CODI

Questions

Does CODI cover Bank Zero?

Yes, as a registered mutual bank. Qualifying deposits are covered up to R100,000 per depositor. Kids’ profiles are separate qualifying depositors on Bank Zero’s own reading — confirm live.

Other markets

Cross-check the scoring weights and the graveyard before you treat a leftover landing page as live.