Discovery Bank

[beefymoocow]

Uber miles only got loaded today. I knew I should've queried this.

Side note, anytime know if the share scheme for Bank is still happening?

The BEE one? Sounds to me it’s canned until they get more clients. Allot of people threaten to cancel their products when they first announced it.

 

[Verrayne]

Saw this is live on the Discovery bank website:

Multicurrency FX Account fees | Products

Fees and charges with our Discovery Bank Forex Accounts

www.discovery.co.za

 

[Pho3nix]

Saw this is live on the Discovery bank website:

Multicurrency FX Account fees | Products

Fees and charges with our Discovery Bank Forex Accounts

www.discovery.co.za

Shyft better than this then it seems.

 

[Verrayne]

Shyft better than this then it seems.

From what I've looked at Shyft is slightly more expensive with their fees.

Since Discovery is asking 0.55% and a minimum of R175. Shyft charges flat rate $14, Shyft only starts winning out when you transfer amounts larger than $2400 for instance.

Shyft also charges for a transfer from your current account which Discovery is doing for free.

Everything is about the spot rate at the end of the day.

Looked at this for Schyft/Standard Bank's fees: https://www.standardbank.co.za/stat...nal Pricing/2022/Forex_Pricing_Guide_2022.pdf

 

[Pho3nix]

From what I've looked at Shyft is slightly more expensive with their fees.

Since Discovery is asking 0.55% and a minimum of R175. Shyft charges flat rate $14, Shyft only starts winning out when you transfer amounts larger than $2400 for instance.

Shyft also charges for a transfer from your current account which Discovery is doing for free.

Everything is about the spot rate at the end of the day.

Looked at this for Schyft/Standard Bank's fees: https://www.standardbank.co.za/stat...nal Pricing/2022/Forex_Pricing_Guide_2022.pdf

I'm confused? Where is Shyft charging you to transfer from your account? It's free unless you switch back to Zar @ R35 for a refund from a Standard Bank Acc if we are looking at like for like.

Also Discovery doesn't charge those on higher accounts from what I saw earlier but gold peeps do have a cost for the account as well.

I've already started drinking so please use small words and pictures if possible

 

[Verrayne]

I'm confused? Where is Shyft charging you to transfer from your account? It's free unless you switch back to Zar @ R35 for a refund from a Standard Bank Acc if we are looking at like for like.

Also Discovery doesn't charge those on higher accounts from what I saw earlier but gold peeps do have a cost for the account as well.

I've already started drinking so please use small words and pictures if possible

Ah sorry, Standard charges to transfer to the Foreign Currency account, thought that was the same as Shyft

 

[Lukcydog]

Shyft better than this then it seems.

Agreed. The fact that they have already gone and complicated it with different types of transfer options and costs, go fly a kite Discovery.

 

[Leno]

Has anyone changed their statement address with Discovery Bank?

Cant see any option on the app to change it

 

[duckgray]

Has anyone changed their statement address with Discovery Bank?

Cant see any option on the app to change it

Nope, I've changed all instances of address I can find on their site but the statements still generate with the old address.

 

[BigBear]

Nope, I've changed all instances of address I can find on their site but the statements still generate with the old address.

Please update your personal details for all other Discovery products separately. If you are a Discovery Bank client, please log into your Discovery Bank app to update your Discovery Bank information.

Proof of Residency
Nothing older than 3 months
Cellphone statement monthly

E-Mail

fica@discovery.bank

Subject : Update address ref..

just phoned them now, above is procedure.

 

[3WA]

So there’s a thing where you get Miles back if you use the app to switch Discovery debit orders to Discovery Bank. You can run the debit orders off your transaction account or credit card.

If you run debit orders off your credit card, do you get the interest-free period (55 days or whatever)?

 

[Gtx Gaming]

So there’s a thing where you get Miles back if you use the app to switch Discovery debit orders to Discovery Bank. You can run the debit orders off your transaction account or credit card.

If you run debit orders off your credit card, do you get the interest-free period (55 days or whatever)?

No interested free period for debit orders

 

[3WA]

No interested free period for debit orders

Thanks! Then not going to switch since I'll have to worry about money levels in my transaction account.

 

[Leno]

Has anyone deposited cash into their discovery account at Pic N pay

FNB decided our nearby branches dont need tellers anymore so looking at this method

I am wondering if the staff know how to do this and is there a limit

 

[Gtx Gaming]

Has anyone deposited cash into their discovery account at Pic N pay

FNB decided our nearby branches dont need tellers anymore so looking at this method

I am wondering if the staff know how to do this and is there a limit

You can deposit at most banks at pick and pay for R20. But there is catch its not cash deposit it's a refund done to the card. This reduces spend on ebucks, as it gets picked up as negative spend. Not sure if discovery picks it up as negative spend.

 

[Leno]

You can deposit at most banks at pick and pay for R20. But there is catch its not cash deposit it's a refund done to the card. This reduces spend on ebucks, as it gets picked up as negative spend. Not sure if discovery picks it up as negative spend.

Thanks, I'm currently not doing discovery miles apart from the fitness part so will look into it

Will probably chat to the manager first, I dont want them to sit there out in the open counting all the cash

 

[twr]

I think it's only if you switch discovery related debit orders like life insurance etc

 

[AirWolf]

Thanks, I'm currently not doing discovery miles apart from the fitness part so will look into it

Will probably chat to the manager first, I dont want them to sit there out in the open counting all the cash

R5k deposit limit for Discovery (per deposit).

 

[ros_b]

Has anyone successfully switched a Discovery product debit order to their credit card? And if so, does it count towards your monthly spend on the card for the extra percentage discounts?

 

[Charlesjjm]

Has anyone successfully switched a Discovery product debit order to their credit card? And if so, does it count towards your monthly spend on the card for the extra percentage discounts?

My car insurance went off my cc for a long time. It counts for absolutely nothing. No spend, points, miles. Avoid debit orders and efts as far as possible.