Discovery Bank

beefymoocow

Expert Member
Joined
Jun 19, 2006
Messages
1,290
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

Active Member
Joined
Jan 6, 2011
Messages
40
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

The Legend
Joined
Jul 31, 2009
Messages
29,531
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

Active Member
Joined
Jan 6, 2011
Messages
40
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 :p
 

Lukcydog

Well-Known Member
Joined
Aug 13, 2012
Messages
477
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.
 
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Leno

Expert Member
Joined
May 15, 2005
Messages
2,324
Has anyone changed their statement address with Discovery Bank?

Cant see any option on the app to change it
 

duckgray

Senior Member
Joined
Sep 28, 2013
Messages
685
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

Expert Member
Joined
Apr 24, 2008
Messages
2,120
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

Honorary Master
Joined
Sep 25, 2012
Messages
16,028
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

Gtx Gaming
Joined
Aug 25, 2008
Messages
24,005
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
 

Leno

Expert Member
Joined
May 15, 2005
Messages
2,324
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

Gtx Gaming
Joined
Aug 25, 2008
Messages
24,005
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

Expert Member
Joined
May 15, 2005
Messages
2,324
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

Expert Member
Joined
Oct 14, 2008
Messages
1,747
I think it's only if you switch discovery related debit orders like life insurance etc
 

AirWolf

Honorary Master
Joined
Aug 18, 2006
Messages
24,061
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

Senior Member
Joined
Jul 26, 2010
Messages
663
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

Senior Member
Joined
Dec 2, 2014
Messages
899
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.
 
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