Discovery Bank

twr said:
Oops I was just looking around and accidentally opened up a notice savings account,how do I cancel or close it?
Initially the rate says up to 5.5% so I wasn't sure what ill actually get.till I opened it and actually gave me 5.5%

My two ABSA savings account interest rate have tables to 3.7% every since rh repo rate dropped so I need to look at something that is not linked to the repo incase they drop the rates. I'm aware of Tyme but would prefer discovery suggestions?
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With the last two interest rate drops, Tyme didnt go down. Why do you want to settle for anything less than 10% honestly?
 
zerocool2009 said:
With the last two interest rate drops, Tyme didnt go down. Why do you want to settle for anything less than 10% honestly?
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Discovery gives adjacent benefits, though. For example, if you're on Vitality Money a savings account will help you move up to the next tier. Which means more miles, better rates etc
 
I’m gonna be renewing my shoe booster soon. Does anyone know how it works now with the new bank. Before bank we used to get 25% upfront discount and the remaining 75% gets amortized over 12 months.

Do we now get 50% upfront and still get 75% amortized over 12 months. Effectively getting 125% back? Or 50% upfront and 50% amortized over 12 months?

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Must be 50+50

I last did shoe booster two years ago,I want to do it again, how much is it for team.vitality I think it was called per year before you can activate the booster?
Can we purchase shoes at sportsman warehouse during level 4?

I see I get 40% back as per my app
 
twr said:
Must be 50+50

I last did shoe booster two years ago,I want to do it again, how much is it for team.vitality I think it was called per year before you can activate the booster?
Can we purchase shoes at sportsman warehouse during level 4?

I see I get 40% back as per my app
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I hope not. Because effectively you hardly get any benefit for being on bank.

It’s about R399 now I think. Hopefully 2020 license will last till the end of next year since most of the road races have been cancelled.
 
I meant 40% the initial cash back , I can't seem to find out more on the app for the shoe booster like the picture you showed, where do I go again?
 
Cool thanks found it in the maze , I forgot I'm on device booster so I would have to switch over,but I'm not getting much I bought a Huawei band 2 so it was cheap
So yeah on my rewards it says I will get 40% cash back.but under the shoe booster benefit it says up to 25%

So yeah now I know what you mean,good question,if you find out let me knowScreenshot_20200503-142757.jpgScreenshot_20200503-142732.jpg
 
beefymoocow said:
I’m gonna be renewing my shoe booster soon. Does anyone know how it works now with the new bank. Before bank we used to get 25% upfront discount and the remaining 75% gets amortized over 12 months.

Do we now get 50% upfront and still get 75% amortized over 12 months. Effectively getting 125% back? Or 50% upfront and 50% amortized over 12 months?
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If you use the device booster then you don't get the bank rewards. I bought a device in Jan with the device booster - and contacted support when I didn't get the bank rewards.

Here was their response.

"Kindly note when you purchase a device using the Device Booster benefit through Vitality Health then you will not qualify for the dynamic cashback from Discovery Bank as the Device Booster benefit is not a Discovery Bank benefit. You would have received the dynamic cashback from Discovery Bank if you purchased the device using the HealthyGear benefit as the HealthyGear benefit is both a Vitality Health and a Discovery Bank benefit."
 
rsa-ace said:
If you use the device booster then you don't get the bank rewards. I bought a device in Jan with the device booster - and contacted support when I didn't get the bank rewards.

Here was their response.

"Kindly note when you purchase a device using the Device Booster benefit through Vitality Health then you will not qualify for the dynamic cashback from Discovery Bank as the Device Booster benefit is not a Discovery Bank benefit. You would have received the dynamic cashback from Discovery Bank if you purchased the device using the HealthyGear benefit as the HealthyGear benefit is both a Vitality Health and a Discovery Bank benefit."
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Thanks for this. So it’s quite likely I won’t get my bank reward for shoe booster as well.
 
beefymoocow said:
Thanks for this. So it’s quite likely I won’t get my bank reward for shoe booster as well.
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You will get up to 100 % from vitality itself for shoe boosters but for device booster it’s 75% up to 4000 rand spend out of which you get 1000 immediately and 2000 rand in 24months etc
 
Just got an email on my 2019 reward statement. Got 140k back apparently but it looks like bank isn’t included.
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beefymoocow said:
Just got an email on my 2019 reward statement. Got 140k back apparently but it looks like bank isn’t included.
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That’s great value. I haven’t earned a quarter of that. I see your vitality and investment returns are great. Did you have international or Domestic air tickets included in vitality value?Can you pls explain how are you able to get those kind of returns?Thanks
 
citizensa said:
That’s great value. I haven’t earned a quarter of that. I see your vitality and investment returns are great. Did you have international or Domestic air tickets included in vitality value?Can you pls explain how are you able to get those kind of returns?Thanks
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It’s my dro that’s giving me back soo much value. Discovery gives me 65% back in whatever I contribute and it grows with the underlying investment. I started only 1.5 years ago so the fees back is still low.

I don’t know how much the DRO has changed but when I joined they had a very good promotion.

The vitality value was mostly driven by the classic gym benefit where discovery paid 2k for my gym membership. And they paid most of my Fenix 5 last year.
 
beefymoocow said:
It’s my dro that’s giving me back soo much value. Discovery gives me 65% back in whatever I contribute and it grows with the underlying investment. I started only 1.5 years ago so the fees back is still low.

I don’t know how much the DRO has changed but when I joined they had a very good promotion.

The vitality value was mostly driven by the classic gym benefit where discovery paid 2k for my gym membership. And they paid most of my Fenix 5 last year.
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Dro now gives 15% a month on top of current contribution. 15% if have diamond everything and 10 goals a month reached.

Thats how mine is atm.
 
Gtx Gaming said:
Dro now gives 15% a month on top of current contribution. 15% if have diamond everything and 10 goals a month reached.

Thats how mine is atm.
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When did you join. I know the current DRO is so watered down. Mine isn’t even dependent on goals.
 
Gtx Gaming said:
Jan this year. The current one does have guaranteed amount when you hit 65, so atleast you know how much you have at retirement. But I guess they offered that before also
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Mine uses this complicated table. Don’t know what Ill exactly get when I retirement.

But to be fair this 65 percentage is funded from my life insurance. So they using my life insurance to pay a portion of my retirement But at least now I won’t have to die to use my life insurance.
 
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Anyone else getting charged interest on their Discovery Card despite automatically paying the full amount and no cash/EFT transactions?
 
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