TymeBank says the recently announced increase in the ID verification fee could worsen financial exclusion among social relief of distress (SRD) grant beneficiaries. Home Affairs Minister Dr Leon Schreiber announced the verification fee hike in a statement on 24 June. Think about SRD grant beneficiaries: TymeBank to Home AffairsIn an opinion article published on TechCentral on Tuesday, TymeBank’s chief commercial officer Cheslyn Jacobs said the bank serves many SRD grant recipients who need affordable banking. “SRD recipients often generate less than R50/year in revenue, leading to a negative unit margin. “If the bank onboarded a million SRD customers, Home Affairs verification costs alone would reach R20 million.