Discovery Bank launched – All the details

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Discovery Bank launched – All the details

Discovery CEO Adrian Gore and Discovery Bank CEO Barry Hore have announced the official launch of Discovery Bank at a media briefing in Sandton, Johannesburg.

The bank is set to open to customers in early 2019 and will be completely digital, with products designed to improve the money management of clients.
 

GhostSixFour

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I read a headline that says launched. I read through article that says it will launch in early 2019, I read further taht it will be in beta and won't launch until beta is complete.

I re-adjust my expectation to Q3/Q4 next year.

Them click bait headlines....
 

hj2k_x

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This looks interesting. The interface is already miles better than the traditional banks...
 

ekske1

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I read a headline that says launched. I read through article that says it will launch in early 2019, I read further taht it will be in beta and won't launch until beta is complete.

I re-adjust my expectation to Q3/Q4 next year.

Them click bait headlines....
It is all 5G from here...
 

Prawnapple

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Sheeeit, the money they are making / going to make is going to up up and up.
 

GhostSixFour

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And the gamification of rewards is going to remain enticing :)
Won't be enough to get me to move :) Haven't been enough for me to move my medical, my life insurance or my short term insurance.

However, for those that are entrenched in their ecosystem, it will probably be a no-brainer to swop.
 

ToxicBunny

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All depends on the rewards and the costs really...

FNB is slowly becoming less attractive as they tighten the eBucks belt each year....
 

requiem

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And the gamification of rewards is going to remain enticing :)

And every year it becomes more difficult to attain the points required, and slowly more and more people lose and end up paying more in the hope of beating the system.

I really would prefer a "Price is x - you get y" approach
 

TelkomUseless

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And every year it becomes more difficult to attain the points required, and slowly more and more people lose and end up paying more in the hope of beating the system.

I really would prefer a "Price is x - you get y" approach
Yip.. saw with the gf. No thanks for the rewards
 

Ancalagon

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All depends on the rewards and the costs really...

FNB is slowly becoming less attractive as they tighten the eBucks belt each year....
Judging by how Discovery gutted their Discovery card rewards last year, I don't think FNB has much to worry about.
 

prOd

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Sounds really good so far, especially things like:

He added that Vitality reward points can also be fully monetised and deposited into a Discovery Bank account
and

Gore said the bank would offer interest rates based on a client’s Vitality Money status, with Diamond customers having lower interest rates.
I've been using a Discovery credit card (along with ABSA) for many years now and will definitely switch by the current look of things
 

hj2k_x

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Won't be enough to get me to move :) Haven't been enough for me to move my medical, my life insurance or my short term insurance.

However, for those that are entrenched in their ecosystem, it will probably be a no-brainer to swop.
I'm entrenched. I'm hoping the bank charges themselves will be low / zero so I can open a Discovery bank account alongside my existing one with Investec.
 

hj2k_x

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And every year it becomes more difficult to attain the points required, and slowly more and more people lose and end up paying more in the hope of beating the system.

I really would prefer a "Price is x - you get y" approach
Yeah. That's gamification for you...
 
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