Side-by-Side Comparison Table
| Feature | OM Bank | Capitec | GoTyme (TymeBank) | FNB Easy | Standard Bank MyMo | Nedbank MiGoals |
|---|---|---|---|---|---|---|
| Monthly fee | R4.95 | R7.50 | R0 | R0 (Easy Zero) | R0 | R8.00 |
| Card type | Visa debit | Mastercard | Visa | Visa | Visa | Mastercard |
| Savings interest | Up to 7.23% p.a. | Tiered (competitive) | Up to 12% (GoSave) | Tiered | Tiered | Tiered |
| Debit rewards | 2.5% back | None on basic | None standard | eBucks on Easy | None on MyMo | None on basic |
| ATM withdrawals | Third-party fees | Own ATM network | Till point free (PnP/Boxer) | Own ATM network | Own ATM network | Own ATM network |
| Branches | ~346 (Old Mutual) | 850+ | 900+ (in-store kiosks) | 700+ | 600+ | 700+ |
| Account opening | App only | App or branch | App or TymeBank kiosk | App or branch | App or branch | App or branch |
| Parent institution | Old Mutual Ltd (est. 1845) | Capitec Bank (est. 2001) | TymeBank (est. 2018) | FirstRand (est. 1998) | Standard Bank (est. 1862) | Nedbank (est. 1945) |
| Digital experience | App only, biometric | App + web | App + web | App + web | App + web | App + web |
OM Bank vs Capitec
Capitec is South Africa's largest retail bank by customer numbers and has consistently been recognised as one of the most affordable banks for everyday consumers. Its Global One account charges R7.50 per month (2026 pricing) and offers free digital transactions, with a large proprietary ATM and branch network. However, Capitec does not offer a debit card rewards programme on its standard account, and its savings interest rates, while competitive, are structured in tiers that depend on balance size.
Where OM Bank wins: Lower monthly fee (R4.95 vs R7.50), higher headline savings interest rate (up to 7.23% p.a.), built-in debit rewards programme (2.5% back), and the backing of a more diversified financial group.
Where Capitec wins: Established brand with a longer banking track record, much larger proprietary ATM network, broader branch footprint (850+ branches vs ~346 Old Mutual branches), web-based internet banking in addition to the app, and a proven credit offering.
Verdict: For pure savings interest and debit rewards, OM Bank has the edge. For ATM access and a tried-and-tested banking relationship, Capitec remains the dominant choice.
OM Bank vs GoTyme Bank (TymeBank)
GoTyme Bank (rebranded from TymeBank in January 2026) remains South Africa's definitive zero-fee bank. Its personal account charges absolutely nothing per month, and free ATM withdrawals at Pick n Pay and Boxer till points across the country remove one of the biggest pain points for digital bank customers. GoTyme's GoSave account offers up to 12% per annum interest on savings, though this rate applies to specific savings products and conditions.
Where OM Bank wins: Debit card rewards programme (2.5% back), institutional heritage and brand trust, physical card collection at 346 Old Mutual branches, and a more mature banking infrastructure given Old Mutual's group resources.
Where GoTyme wins: Zero monthly fee, free ATM-equivalent withdrawals at till points, higher savings rate on specific GoSave products, and approximately 900+ in-store kiosk locations for easy account opening.
Verdict: GoTyme is better for fee-sensitive customers and those who frequently withdraw cash. OM Bank is better for reward-seekers and customers who value institutional credibility.
OM Bank vs FNB Easy
FNB's Easy account (particularly the Easy Zero variant) targets entry-level banking customers with a zero monthly fee and access to FNB's extensive branch and ATM network. FNB's eBucks loyalty programme is one of South Africa's most established rewards ecosystems, with earn rates tied to account type and product usage.
Where OM Bank wins: Higher savings interest rate (up to 7.23% p.a.), simpler fee structure, faster digital onboarding via biometrics with no branch visit required.
Where FNB wins: Established eBucks rewards with a wider merchant ecosystem, extensive proprietary ATM network, more mature lending and credit product integration, and web-based internet banking.
Verdict: FNB's eBucks ecosystem is more developed, but OM Bank's savings interest rate and simpler fee model may appeal to customers who prioritise savings over a complex rewards ecosystem.
OM Bank vs Standard Bank MyMo
Standard Bank's MyMo account moved to a zero-monthly-fee structure from January 2026, making it directly competitive with GoTyme. However, MyMo is positioned as an entry-level account and does not include a significant rewards component or high-yield savings product.
Where OM Bank wins: Competitive savings interest (up to 7.23% p.a.), debit card rewards programme (2.5%), and stronger digital innovation at launch.
Where Standard Bank wins: Trusted heritage bank (founded 1862), extensive ATM and branch network, broader lending, investment, and insurance product integration, and web internet banking.
Verdict: OM Bank's product features are superior for saving and rewards. Standard Bank suits customers who want a comprehensive, long-established bank with a wide physical presence.
OM Bank vs Nedbank MiGoals
Nedbank's MiGoals account charges R8.00/month (2026) and targets the middle-market segment with a rewards programme and savings tools. For premium customers, MiGoals Premium offers enhanced rewards but at a significantly higher monthly fee.
Where OM Bank wins: Lower monthly fee (R4.95 vs R8.00), higher headline savings rate (up to 7.23% p.a.), faster digital onboarding.
Where Nedbank wins: Established lending products, Greenbacks rewards programme with broader redemption options, web internet banking, and a nationwide branch and ATM network.
Verdict: OM Bank is more affordable and offers higher savings interest. Nedbank suits customers who value an established rewards ecosystem and a full product suite including loans, investments, and insurance within one bank.
Our Verdict
OM Bank occupies a distinct space in South Africa's banking landscape: it is not the cheapest account available (GoTyme wins on raw monthly fee), nor does it have the largest network (Capitec dominates branches and ATMs), nor the most mature credit product suite. What it offers is a combination of low fees, genuinely high savings interest, a debit rewards programme, institutional credibility through Old Mutual, and a modern digital experience.
For South Africans in the R8,000–R80,000 income bracket who primarily transact digitally, value savings discipline through automatic sweep tools, and appreciate the reassurance of a 178-year-old financial group standing behind their bank — OM Bank is a compelling choice in 2026.