Discovery Bank

[maumau]

Can't wait to hear Discovery's reply.

 

[maumau]

Sorry if I missed this somewhere in the thread, but I've noticed my credit card is now being charged a fee for "international" transactions that are charged in Rands, specifically AirBnB and Emirates. Certainly this wasn't happening in March, which was when I did a transaction with AirBnB and didn't get charged a fee. When did this start and did Discovery Bank inform their customers about it? This is pissing me off no end! Do other banks charge such a fee as well?

I'm interested to know about this. Siyabonga at Discovery confirms they charge 2.75% on international transactions but to be honest it's not something I remember from previous UK holidays.

Is @ab12312390 a Discovery rep/broker?

 

[3WA]

Sorry if I missed this somewhere in the thread, but I've noticed my credit card is now being charged a fee for "international" transactions that are charged in Rands, specifically AirBnB and Emirates. Certainly this wasn't happening in March, which was when I did a transaction with AirBnB and didn't get charged a fee. When did this start and did Discovery Bank inform their customers about it? This is pissing me off no end! Do other banks charge such a fee as well?

FNB has also been doing it, can't remember when they introduced it - maybe some time in 2022.

 

[Hackson]

Are there any SARS implications if you moved funds from a ZAR account to a foreign currency account, and then later on move the foreign currency back into ZAR?

Yes. You get an allowance called repatriated balance which adds to your current allowance.

 

[pkid]

I'm interested to know about this. Siyabonga at Discovery confirms they charge 2.75% on international transactions but to be honest it's not something I remember from previous UK holidays.

Is @ab12312390 a Discovery rep/broker?

It is relatively new. They did notify me before introducing it. And they did clarify that it includes all international transactions, including those done in Rands.

 

[GMAN03]

FNB has also been doing it, can't remember when they introduced it - maybe some time in 2022.

Investec just started charging it last month and I was contemplating moving my international charges over to my Discovery card. If they're doing it too then I guess it's not worth the hassle.

 

[potter123]

Pretty much all banks are doing it now. They used to absorb these fees but I guess its caught up with them and they now need to pass them on to customers.

Not a big deal with small fees like Netflix etc. but can add up to quite a bit with AirBnB.

I think only BankZero currently doesn't charge these fees.

 

[Charlesjjm]

Sorry if I missed this somewhere in the thread, but I've noticed my credit card is now being charged a fee for "international" transactions that are charged in Rands, specifically AirBnB and Emirates. Certainly this wasn't happening in March, which was when I did a transaction with AirBnB and didn't get charged a fee. When did this start and did Discovery Bank inform their customers about it? This is pissing me off no end! Do other banks charge such a fee as well?

Yes they did. You need to read the in-App notifications.

 

[ab12312390]

I'm interested to know about this. Siyabonga at Discovery confirms they charge 2.75% on international transactions but to be honest it's not something I remember from previous UK holidays.

Is @ab12312390 a Discovery rep/broker?

I am not.
The charge was introduced recently. Check messages under News and updates on or around 31st May in the Bank App.
The communication stated 2% and not 2.75%,though.

 

[ab12312390]

Pretty much all banks are doing it now. They used to absorb these fees but I guess its caught up with them and they now need to pass them on to customers.

Not a big deal with small fees like Netflix etc. but can add up to quite a bit with AirBnB.

Where you can, you need to check if you can pay in the original currency. Sometimes the exchange rate you get from your bank, and the one offered by the merchant, is different. You might end up saving even when you are paying the extra fees to the bank. The trick is checking it out where the merchant allows you to switch currencies.

 

[ros_b]

Thanks all for your responses. Interesting that all the banks are now doing this, so I suppose there's no point in moaning at Discovery. So the issue now is how to be sure whether something is classed as an "international" transaction or not.

Luckily I have a UK card that charges the mid-market rate and no commissions for foreign currency transactions, and I use that for anything not stated in Rands. But I just assumed that when you're renting a local property from AirBnB that is quoted in Rands, then it would be better to use my local card. Now I know better. Pity, since a chunky AirBnB booking helps me reach my monthly spend goal, but that's not worth a 2% fee (that's how much I was charged). I can add R5000 to TymeBank for a 1% fee.

 

[maumau]

Spending GBP100 and being charged 2.75% isn't that bad I suppose.

 

[Hackson]

Thanks all for your responses. Interesting that all the banks are now doing this, so I suppose there's no point in moaning at Discovery. So the issue now is how to be sure whether something is classed as an "international" transaction or not.

Luckily I have a UK card that charges the mid-market rate and no commissions for foreign currency transactions, and I use that for anything not stated in Rands. But I just assumed that when you're renting a local property from AirBnB that is quoted in Rands, then it would be better to use my local card. Now I know better. Pity, since a chunky AirBnB booking helps me reach my monthly spend goal, but that's not worth a 2% fee (that's how much I was charged). I can add R5000 to TymeBank for a 1% fee.

Transactions on my Euro card count towards the monthly spend, weekly spend goal and earn miles for spending.

 

[twr]

I want to book hotel accommodation through the hotel directly in Mauritius. Rhey charging in euros will I also get charged the 2.75% fee?

 

[PotatoGuardian]

I know it was asked before but I can't find it. How do I downgrade my plan and if I do will they auto send a new card?

 

[ros_b]

I want to book hotel accommodation through the hotel directly in Mauritius. Rhey charging in euros will I also get charged the 2.75% fee?

Their Gold card fees document states 2.75% currency conversion fee, and 2% international purchase fee, capped at R500 per transaction. So it's even worse if you're paying in a foreign currency.

 

[callen]

I want to book hotel accommodation through the hotel directly in Mauritius. Rhey charging in euros will I also get charged the 2.75% fee?

I swiped my card on Tuesday for accommodation at Mauritius. This is what I paid.

 

[twr]

I swiped my card on Tuesday for accommodation at Mauritius. This is what I paid. View attachment 1585000

So I paid the 30% deposit here is South Africa was in euros. Did Discovery include the 2.75% in three amount taken off?

The hotel said the 70% is due when I arrive at hotel which then requires me to swipe whole in Mauritius. Will it be better if I pay in sa before I leave ? Or is that the same?

 

[callen]

So I paid the 30% deposit here is South Africa was in euros. Did Discovery include the 2.75% in three amount taken off?

The hotel said the 70% is due when I arrive at hotel which then requires me to swipe whole in Mauritius. Will it be better if I pay in sa before I leave ? Or is that the same?

I feel the 2.75% is added to the amount. When I got to the hotel I worked it out to be 10.5k the 200 odd was discovery.

If you are on black or purple - My advice would be to take out from the ATM when you arrive at the airport. Max you can take out on some machines are 20k, 15k, 10k and 5k. When we got to the airport we didn't know what the max was so we took out 5k three times - the machine didn't say what the max we could take out.

If you didn't pre order the emtel card on the web I think the guys only accept cash, I didn't see a card machine at their stall.

 

[twr]

I feel the 2.75% is added to the amount. When I got to the hotel I worked it out to be 10.5k the 200 odd was discovery.

If you are on black or purple - My advice would be to take out from the ATM when you arrive at the airport. Max you can take out on some machines are 20k, 15k, 10k and 5k. When we got to the airport we didn't know what the max was so we took out 5k three times - the machine didn't say what the max we could take out.

If you didn't pre order the emtel card on the web I think the guys only accept cash, I didn't see a card machine at their stall.

Thanks I'm on platinum was going to ask what should I do for spending money?.
I also have an absa bank account so you say Draw cash at the atm? How much does thr banks charge for that withdrawal?

I think I'll swipe my discovery card for the hotel stay.

I also have $200 .which I can change at airport on arrival? Should u change to euros or rupee?