Discovery Bank

Does anyone know how to stop a debit order on a Discovery Bank account? I've searched the entire app but can't find any option
 
Does anyone have a link that explains how to level up your bank rewards level? My GF is thinking about moving but we would like to check how difficult it is to get to Gold/Diamond before jumping. I couldn't see anything publicly available on that but I could be searching their site badly.
 
Ghost02 said:
Does anyone have a link that explains how to level up your bank rewards level? My GF is thinking about moving but we would like to check how difficult it is to get to Gold/Diamond before jumping. I couldn't see anything publicly available on that but I could be searching their site badly.
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It is very much based on a “you” thing. There are no strait lines as it depends on things like your savings and investments relative to your income, secured vs unsecured debt, outstanding balance on fixed assets, etc.

You literally do not know what the hoops are until you get the account and they tell you.

I got no points for fixed assists as what I owe for the house is too high relative to its value as the bond is 3 months old, car counts against me, insurance was easy. You need to have about 3x your after tax income in available saving, then factors like retirement fund, long term investments, cryptos, etc all come in to play.

That’s more or less what you need to hit max level, your account colour impacts your max rewards.
 
CranialBlaze said:
It is very much based on a “you” thing. There are no strait lines as it depends on things like your savings and investments relative to your income, secured vs unsecured debt, outstanding balance on fixed assets, etc.

You literally do not know what the hoops are until you get the account and they tell you.
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That sounds very wishy washy haha.

Do they force you to save with them? Or would she be able to put money into satrix and they would count that for example?

She is a basic banker at the moment and mostly wants it for the Apple watch benefit as she acheives the vitality goals anyway so may as well get a cheap watch out of it.

You need at least a Discovery credit card for the benefit though and we figured just moving banks completely would be the easiest.
 
Ghost02 said:
That sounds very wishy washy haha.

Do they force you to save with them? Or would she be able to put money into satrix and they would count that for example?

She is a basic banker at the moment and mostly wants it for the Apple watch benefit as she acheives the vitality goals anyway so may as well get a cheap watch out of it.

You need at least a Discovery credit card for the benefit though and we figured just moving banks completely would be the easiest.
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Can give this a try - https://www.discovery.co.za/portal/bank/vitality-money-calculator
 
Ghost02 said:
That sounds very wishy washy haha.

Do they force you to save with them? Or would she be able to put money into satrix and they would count that for example?

She is a basic banker at the moment and mostly wants it for the Apple watch benefit as she acheives the vitality goals anyway so may as well get a cheap watch out of it.

You need at least a Discovery credit card for the benefit though and we figured just moving banks completely would be the easiest.
Click to expand...

You don’t need to have anything with them, anything you do have is automatically calculated, external stuff you need to manually add and provide proof.

Same as the rest, the watch and phone payback are relative to status and level so only level 5 purple gets the 100% cash back. If I remember correctly.

Seeing as I dropped vitality as it became valueless, keeping that and the bank for the benefit of a watch actually worked out more expensive, no point paying more than what you getting back for a “freebie”.
 
CranialBlaze said:
You don’t need to have anything with them, anything you do have is automatically calculated, external stuff you need to manually add and provide proof.

Same as the rest, the watch and phone payback are relative to status and level so only level 5 purple gets the 100% cash back. If I remember correctly.

Seeing as I dropped vitality as it became valueless, keeping that and the bank for the benefit of a watch actually worked out more expensive, no point paying more than what you getting back for a “freebie”.
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For the watch you need to achieve your fitness goals as far as I know but it isn't linked to the status but we were curious on how the status works for the healthy food discounts etc.

But I'll help her with the math to make sure if the freebie is actually worth it. She already has vitality for the gym discount.
 
Ghost02 said:
For the watch you need to achieve your fitness goals as far as I know but it isn't linked to the status but we were curious on how the status works for the healthy food discounts etc.

But I'll help her with the math to make sure if the freebie is actually worth it. She already has vitality for the gym discount.
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It’s hard to remember what’s impacted by what, I stayed 2 months as for me it was even more worthless than vitality, from everything I had read beforehand it should have been a zero cost account as it stated all you needed was a card for 25% back in Fuel, clearly I missed the hidden * as that 25 was in reality 3 with a max of 15.

Discovery is just too scaly and underhanded for my likings.
 
Ghost02 said:
For the watch you need to achieve your fitness goals as far as I know but it isn't linked to the status but we were curious on how the status works for the healthy food discounts etc.

But I'll help her with the math to make sure if the freebie is actually worth it. She already has vitality for the gym discount.
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Look everyone is different, for me its a no brainer, I get gym, food cash back, 20% off with miles, an iPhone and apple watch all fully paid, 4 spins a week. Interest rate is better then my other bank so yeah. Just need to play the system and be very aware of them, they do try get out of paying things but watch and phone is pretty straightforward. Ps I have bank, vitality and insure so yeah.
 
binloud said:
Look everyone is different, for me its a no brainer, I get gym, food cash back, 20% off with miles, an iPhone and apple watch all fully paid, 4 spins a week. Interest rate is better then my other bank so yeah. Just need to play the system and be very aware of them, they do try get out of paying things but watch and phone is pretty straightforward. Ps I have bank, vitality and insure so yeah.
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They tried to get me onto insure and the consultant was very upset when I burst out laughing at the quote which was more than double my current insurance.
 
@3WA Are you a Vitality Member?

I'm diamond status and 3.75% interest with VM Boost at 0.3%. Not an active vitality member.
 
I heard if you bank with discovery and your heathy food cashback goes into some vitality savings wallet. Does anyone know how that works and if you can spend that money on anything or is there some special “store” that you have to use?
 
Ghost02 said:
I heard if you bank with discovery and your heathy food cashback goes into some vitality savings wallet. Does anyone know how that works and if you can spend that money on anything or is there some special “store” that you have to use?
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Yeah goes into miles, you can use that to get 20% off from a few things - airtime etc. Otherwise just can transfer it as cash into account 1 to 1.
 
SueC said:
Do we get 20% off at all of them?
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For some reason I'm only getting 10%. Guess I missed a hoop or two to jump through. So I think it's safer to use Discovery's oh so popular term "UP TO" and say "up to 20% discount". :laugh:
 
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