Discovery Bank

d0b33

Honorary Master
Joined
Jul 16, 2004
Messages
17,376
FNB already has it.

I would love it if they roll out out. That was the only thing that sucked when closing my FNB account
True, although FNB treats it as a global transfer so you need to do the forex process each time. This sounds as if it's just another account you can transfer to and from.
 

Pho3nix

The Legend
Joined
Jul 31, 2009
Messages
29,106
True, although FNB treats it as a global transfer so you need to do the forex process each time. This sounds as if it's just another account you can transfer to and from.

A lot like Shyft and what I saw without the additional cost to get money back to ZAR
 

Verrayne

Active Member
Joined
Jan 6, 2011
Messages
37
True, although FNB treats it as a global transfer so you need to do the forex process each time. This sounds as if it's just another account you can transfer to and from.
Think it would still have to go through the Forex process, but if it is as easy as FNB sign me up.

I tried to help my dad transfer money from Nedbank internationally and he had to print out a form. I really couldn't believe it.
 

RobotWizard

Well-Known Member
Joined
Feb 28, 2017
Messages
238
Has anyone found a decent way of depositing money into their Discovery account?

As far as I am aware you can't use any ATMs, I recall trying multiple different ATMs a while back and the depositing option wasn't even there. Then I saw that you need to deposit at a Pick 'n Pay, but the problem is that their fees are quite ridiculous. Just paid R 19.95 to deposit R 1200, since they charge a flat rate per R 5k.

On the Platinum Suite anyways.
Cash deposits at Pick n Pay and Boxer stores
R19.95 per R5 000

But then to make matters worse, I don't see a way to choose which account you want to deposit it into, so it just goes straight into your Credit Card. (Well for me anyways)
 

AirWolf

Honorary Master
Joined
Aug 18, 2006
Messages
23,957
Has anyone found a decent way of depositing money into their Discovery account?

As far as I am aware you can't use any ATMs, I recall trying multiple different ATMs a while back and the depositing option wasn't even there. Then I saw that you need to deposit at a Pick 'n Pay, but the problem is that their fees are quite ridiculous. Just paid R 19.95 to deposit R 1200, since they charge a flat rate per R 5k.

On the Platinum Suite anyways.


But then to make matters worse, I don't see a way to choose which account you want to deposit it into, so it just goes straight into your Credit Card. (Well for me anyways)
Well it's economical if you deposit the full R5000.

Money goes into the account of the card you use when depositing.
 

beefymoocow

Expert Member
Joined
Jun 19, 2006
Messages
1,258
Has anyone found a decent way of depositing money into their Discovery account?

As far as I am aware you can't use any ATMs, I recall trying multiple different ATMs a while back and the depositing option wasn't even there. Then I saw that you need to deposit at a Pick 'n Pay, but the problem is that their fees are quite ridiculous. Just paid R 19.95 to deposit R 1200, since they charge a flat rate per R 5k.

On the Platinum Suite anyways.


But then to make matters worse, I don't see a way to choose which account you want to deposit it into, so it just goes straight into your Credit Card. (Well for me anyways)

Use tyme and eft the money out
 

3WA

Honorary Master
Joined
Sep 25, 2012
Messages
13,185
Hi all,

For the savings to have Diamond Vitality Money status:

can these savings be in a 24-hour or 32-day notice account?

Do the notice accounts also benefit from the interest boost that you get for maintaining Diamond status on Vitality Money?
 

Charlesjjm

Senior Member
Joined
Dec 2, 2014
Messages
627
Hi all,

For the savings to have Diamond Vitality Money status:

can these savings be in a 24-hour or 32-day notice account?

Do the notice accounts also benefit from the interest boost that you get for maintaining Diamond status on Vitality Money?
Yes. I think any Discovery Bank Savings account will be fine.

Some do. Go to Accounts>add new account. Under See more you can check which ones will benefit from dynamic interest rates.
 
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3WA

Honorary Master
Joined
Sep 25, 2012
Messages
13,185
Yes. I think any Discovery Bank Savings account will be fine.

Some do. Go to Accounts>add new account. Under See more you can check which ones will benefit from dynamic interest rates.

Thanks!

So I see the 24-hour notice account gets it, but not the 32-day.
If you’re on Diamond, you’ll get better overall interest in a 24-hour notice account than a 32-day account. Seems a bit weird to me.
 

glennhurlow

Active Member
Joined
Jan 12, 2011
Messages
85
Anybody have any idea what the new requirements will be for Vitality Money points and corresponding status levels? Got a notification in my app earlier that changes will be implemented from 1 October.

I am expecting the classic Discovery tactic of making achieving the highest status increasingly more difficult after the initial hook... But am ready to be pleasantly suprised.
 

AirWolf

Honorary Master
Joined
Aug 18, 2006
Messages
23,957
Anybody have any idea what the new requirements will be for Vitality Money points and corresponding status levels? Got a notification in my app earlier that changes will be implemented from 1 October.

I am expecting the classic Discovery tactic of making achieving the highest status increasingly more difficult after the initial hook... But am ready to be pleasantly suprised.
Didn't receive any notification...
 

SpoOkie

Well-Known Member
Joined
May 8, 2008
Messages
253
Anybody have any idea what the new requirements will be for Vitality Money points and corresponding status levels? Got a notification in my app earlier that changes will be implemented from 1 October.

I am expecting the classic Discovery tactic of making achieving the highest status increasingly more difficult after the initial hook... But am ready to be pleasantly suprised.
Don't think we should hold our breath.
 

Lukcydog

Well-Known Member
Joined
Aug 13, 2012
Messages
436
Anybody have any idea what the new requirements will be for Vitality Money points and corresponding status levels? Got a notification in my app earlier that changes will be implemented from 1 October.

I am expecting the classic Discovery tactic of making achieving the highest status increasingly more difficult after the initial hook... But am ready to be pleasantly suprised.
of course, that's the M.O, they just change the rules without telling anyone...
 

Koosvanwyk

Senior Member
Joined
Aug 6, 2015
Messages
660
of course, that's the M.O, they just change the rules without telling anyone...
There is a notification on the app, it has been there for a while.

The bank is still breeding money, they need a lot more clients to become profitable, seems counter intuitive to make it more difficult. I suspect we will see the opposite or similar.
 

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binloud

Well-Known Member
Joined
Nov 21, 2018
Messages
308
I see the app now has a financial analyser for budget etc. I would assume points will be related to this rather then spend.
 

glennhurlow

Active Member
Joined
Jan 12, 2011
Messages
85
There is a notification on the app, it has been there for a while.

The bank is still breeding money, they need a lot more clients to become profitable, seems counter intuitive to make it more difficult. I suspect we will see the opposite or similar.
I hope so Koos, and I wish they were breeding money and not bleeding money. But given that their breakeven point for clients is 500k-600k and they are only half that, they will still bleed for some time to come.
 

Lukcydog

Well-Known Member
Joined
Aug 13, 2012
Messages
436
Nifty to see how they classify it. Could have been interesting if I was doing most of my expenditure on it...
 
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