Discovery bank Vs FNB

[hellfire]

It's laughable that you think its 5%.

Ok, fan-boi... What's the real number?
10%? 15%?
Definitely not more than that.
And of that number, how many really care about using Apple Pay for in-store purchases?
And of those, how many care enough to change banks because they can't tap their phone to pay?

 

[Priapus]

Ok, fan-boi... What's the real number?
10%? 15%?
Definitely not more than that.
And of that number, how many really care about using Apple Pay for in-store purchases?
And of those, how many care enough to change banks because they can't tap their phone to pay?

Fan boy of what?

People care about Apple Pay

Apple Pay South Africa

I see Samsung Pay is gaining good traction in SA? Any idea when we’ll get Apple in SA?

mybroadband.co.za

 

[Charlesjjm]

I've had the Discovery card when they were still with FNB so it was a natural migration when they moved over to their own bank. I've since closed my FNB cheque account as well as I've been running everything through Discovery for a while now. The fact that thay supported Samsung Pay and FNB didn't (at that time) also motivated the move.

So far so good, I've never had issues with the bank itself. Rewards is a different story, but even that is working out for now. So I think I'll stay.

 

[rvZA]

I've been with FNB for 10+ years. Over that time I've had no real complaints.

So, you want to leave FNB for Discovery because of a banking mobile phone app?

It would be a stupid move.

When I applied for a bond in 2019; they were only willing to offer me 50%

More banks are moving in this direction. It is becoming increasingly difficult, even for high income earners, to get close to full bonds. EWC is a problem for all banks and many are cutting down. Covid has worstened the situation for banks as well.

 

[Priapus]

So, you want to leave FNB for Discovery because of a banking mobile phone app?

It would be a stupid move.



More banks are moving in this direction. It is becoming increasingly difficult, even for high income earners, to get close to full bonds. EWC is a problem for all banks and many are cutting down. Covid has worstened the situation for banks as well.

No, not just due to the app or Apple Pay - but those things made me reconsider FNB's value to me and my needs.

I also find FNB's pricing high - my "fees" are average R500 or more a month. Which is just madness.

Discovery rewards are also a motivator for me; now that I been looking into them more over the last week or two - there is definitely something to be gained there.

Re the bonds thing - Nedbank gave me exactly what I asked for 90% without much fuss. But I concur with the current risks banks have and getting a bond these days is more difficult.

 

[zerocool2009]

No, not just due to the app or Apple Pay - but those things made me reconsider FNB's value to me and my needs.

I also find FNB's pricing high - my "fees" are average R500 or more a month. Which is just madness.

Discovery rewards are also a motivator for me; now that I been looking into them more over the last week or two - there is definitely something to be gained there.

Re the bonds thing - Nedbank gave me exactly what I asked for 90% without much fuss. But I concur with the current risks banks have and getting a bond these days is more difficult.

I assume you are on PW, as Private is R450 a month.

 

[Priapus]

I assume you are on PW, as Private is R450 a month.

Monthly fee is R385 + "Service fees" which sometimes is like 200 bucks. I'll see what real world fees are like with Discovery

 

[CranialBlaze]

Monthly fee is R385 + "Service fees" which sometimes is like 200 bucks. I'll see what real world fees are like with Discovery

I take it you keep clicking “pay and clear now” hey?

 

[air]

I take it you keep clicking “pay and clear now” hey?

PW is 'free', not sure of any other accounts,

 

[PotatoGuardian]

I was an FNB client since I had pocket money as I kid. I think that’s 20+ years now. Switched to Discovery and will never go back to FNB. I used to think Fnb had the best online experience but their service has deteriorated massively over the last few years. My husband has a standard bank account and even their app is super slick.

Apple Pay has been super awesome. Sometimes I don’t take my card with me to the gym. Super easy now to just pay with my watch/phone if I need to pop to the store.

I know a lot of people complain about jumping through hoops with discovery (which is true) but it’s really not that hard for me. Every month I get roughly 10500 discovery miles back which is 1.5k cash and that’s JUST for health food cash back, I get more overall. My Apple Watch is also free. Waaaaay more rewards than ebucks ever gave me.

The point I was trying to make is that everyone will tell you what bank to use based on what they know and love but you need to “see other people” and find out what works for you based on what’s important to you. I genuinely thought Fnb was the best until I experienced other things

 

[Priapus]

I take it you keep clicking “pay and clear now” hey?

I use that like once a month; so it's not that.

I was an FNB client since I had pocket money as I kid. I think that’s 20+ years now. Switched to Discovery and will never go back to FNB. I used to think Fnb had the best online experience but their service has deteriorated massively over the last few years. My husband has a standard bank account and even their app is super slick.

Apple Pay has been super awesome. Sometimes I don’t take my card with me to the gym. Super easy now to just pay with my watch/phone if I need to pop to the store.

I know a lot of people complain about jumping through hoops with discovery (which is true) but it’s really not that hard for me. Every month I get roughly 10500 discovery miles back which is 1.5k cash and that’s JUST for health food cash back, I get more overall. My Apple Watch is also free. Waaaaay more rewards than ebucks ever gave me.

The point I was trying to make is that everyone will tell you what bank to use based on what they know and love but you need to “see other people” and find out what works for you based on what’s important to you. I genuinely thought Fnb was the best until I experienced other things

Thank you for that; that makes a lot of sense.

I used to think FNB was the best too. I saw no reason to ever move for that either. But once I started paying more attention to what Discovery was / is doing and digging in a bit, FNB's value propersition quickly dropped for me. eBucks is nice; but it doesn't compare to Discovery rewards and the Miles etc. Yes, you need to work harder for those rewards - but it also means you live a healthier lifestyle; something which is important to me at the moment.

Having the gym stuff is a big plus and motivator for me to keep going there too - so win, win.

I'm probably going to close my FNB account this year....

 

[Hamster]

What's the the monthly fee on Investec vs Discovery?

Investec is R500 something for over 30. You can convert it to a "digital only" account under certain circumstances. You lose the card but pay R180 or something pm.

The flip side, you get prime minus interest fairly easy even for your car loan. You can imagine that you save quite a bit of money that way, so it is something to keep in mind.

 

[Priapus]

Investec is R500 something for over 30. You can convert it to a "digital only" account under certain circumstances. You lose the card but pay R180 or something pm.

The flip side, you get prime minus interest fairly easy even for your car loan. You can imagine that you save quite a bit of money that way, so it is something to keep in mind.

Save more money by having a paid off car.

 

[CranialBlaze]

PW is 'free', not sure of any other accounts,

Then how you racking up that much, like everything’s free. Only service charge I ever saw was like R1 for a lotto entry I bought.

 

[air]

Then how you racking up that much, like everything’s free. Only service charge I ever saw was like R1 for a lotto entry I bought.

I'm racking up bugger all, also keen to understand that number.

 

[Hamster]

Save more money by having a paid off car.

This is true

 

[CranialBlaze]

I'm probably going to close my FNB account this year....

May as well do it now, they take forever. Took me 3 support requests, 2 messages on social media and 5 emails to close it, and the first support request said it would take 5 to 7 days, was over a month.

 

[Priapus]

May as well do it now, they take forever. Took me 3 support requests, 2 messages on social media and 5 emails to close it, and the first support request said it would take 5 to 7 days, was over a month.

Oh wow.

 

[CranialBlaze]

Save more money by having a paid off car.

Which requires one to pay it off, which is usually done far more cost effectively with lower interest rates. Most people don’t really have the luxury to be able to save up 200k+ to buy a car cash, it’s kind of a transport thing for work, the thing that pays the money that you use to pay for said car.

 

[Hamster]

May as well do it now, they take forever. Took me 3 support requests, 2 messages on social media and 5 emails to close it, and the first support request said it would take 5 to 7 days, was over a month.

I had to go to the branch ...but when I went there it took a couple of minutes. Still.