Discovery Bank

Carsomyr said:
My big question now is how long and how hard is it to reach that "Up to ..." point on the discounts? Anyone who is already signed up know how long its going to take you to get to Vitality Money gold/Diamond status, or whatever you need to get the max cashbacks?
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Haven't read through everything but for the one savings account reward you need to have an certain amount in the account for 3 months so the minimum would be around there but mots likely 6 months.
 
There are three discrepancies I have found so far:

Accounts page says up to 15% max back for Uber, Vitality money shows up to 20%.
Accounts page says up to 15% max back for Fuel, Vitality money shows up to 20%.
Accounts page says up to 50% max back for International Flights, Vitality money shows up to 75%.
 
S3XY said:
I went through the different pages and it seems like this below comparison is what we will be getting. These are our options. The transaction only accounts have almost no rewards. Those of us using the gym booster, that benefit will only be on the Suite accounts.

The banking fee noted includes the Vitality money fee.

Personally I am still undecided.
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I assume the gym booster will be on one club only and not premier membership?


So only 6 lounge visits per year if on black card, sound similar to having dragon pass with absa
 
twr said:
I assume the gym booster will be on one club only and not premier membership?


So only 6 lounge visits per year if on black card, sound similar to having dragon pass with absa
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I received a mail to say that they will be taking away the gym booster from the normal vitality active rewards. I think they have just transferred that to Vitality Money. That was only for one club as you noted correctly.
 
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Does this mean you get 35% off from vitality and 50% off from the bank for flights.
 
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So to get all these "up to %" back I assume one had to complete their weekly money goals? Or do you have to be on a specific status or diamond money to get that discount?

And what type of goals are there, I can't find anything to say other than they will be tailored to you
 
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It's all become much too complicated, with too many hoops to jump through! Think I may opt out and simplify my life
 
amabacha said:
More info on the various products, cards, features, benefits, fees etc below.
(I don't know why Discovery doesn't make this information easier to find via their website navigation...)

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Do you have any links explaining what status you have to be to get those"up to % back" or do you have to be on diamond money status to get 50% back on international flights?
 
So if I am reading it right ...need a expensive account to get any benefit and the main benefits not that grand any way and very focused on a few partners with lots of hoops to jump through that will be changed as soon as too many get the benefits .what benefits does a good card get as I can’t see any ?To be honest I am not that impressed with the bank considering price /value and real benefits .. FNB app pretty good if you ask me and if you wealthy you got the private banks
 
Carsomyr said:
My big question now is how long and how hard is it to reach that "Up to ..." point on the discounts? Anyone who is already signed up know how long its going to take you to get to Vitality Money gold/Diamond status, or whatever you need to get the max cashbacks?
Click to expand...

It's actually really easy to get Diamond status (the max). All you need is:

- 3x your monthly salary in savings (either in a Vitality savings account or with an investment manager. Savings in cash with other banks don't count (reason is they can't see it)
- Unsecured debt repayments must be less than x% of salary. Looks like 12.5%
- Motor vehicle and life insurance (standard GLA with employer counts)
- Saving x% of salary for retirement
- Secured debt (like home loans) vs your savings must be a certain amount (not sure how much. Depends on age too)

The 3x monthly salary savings, unsecured debt and insurance counts the most. I don't even have any points for the secured debt as yet and will be able to make it to Diamond once I transfer some cash into savings.

You also get bonus points for achieving weekly/monthly goals for saving x% or watching short videos etc. Goals are dependent on what you still need to improve from the list above.
 
SaiyanZ said:
It's actually really easy to get Diamond status (the max). All you need is:

- 3x your monthly salary in savings (either in a Vitality savings account or with an investment manager. Savings in cash with other banks don't count (reason is they can't see it)
- Unsecured debt repayments must be less than x% of salary. Looks like 12.5%
- Motor vehicle and life insurance (standard GLA with employer counts)
- Saving x% of salary for retirement
- Secured debt (like home loans) vs your savings must be a certain amount (not sure how much. Depends on age too)

The 3x monthly salary savings, unsecured debt and insurance counts the most. I don't even have any points for the secured debt as yet and will be able to make it to Diamond once I transfer some cash into savings.

You also get bonus points for achieving weekly/monthly goals for saving x% or watching short videos etc. Goals are dependent on what you still need to improve from the list above.
Click to expand...

How do you proof to them your insurance / life cover? Can you send them your salary slip / company group life policy and then they review it and give you a score? Same with pension fund contributions?
 
Any info on a % of cashback on everyday spend at non partner stores? I think discovery miles is something like 0.66% at non partner stores (1 mile / R15 = R0.10 value). This would be a deal breaker when comparing with eBucks as their partner store rewards will only get you about half way to eBucks.
 
SaiyanZ said:
It's actually really easy to get Diamond status (the max). All you need is:

- 3x your monthly salary in savings (either in a Vitality savings account or with an investment manager. Savings in cash with other banks don't count (reason is they can't see it)
- Unsecured debt repayments must be less than x% of salary. Looks like 12.5%
- Motor vehicle and life insurance (standard GLA with employer counts)
- Saving x% of salary for retirement
- Secured debt (like home loans) vs your savings must be a certain amount (not sure how much. Depends on age too)

The 3x monthly salary savings, unsecured debt and insurance counts the most. I don't even have any points for the secured debt as yet and will be able to make it to Diamond once I transfer some cash into savings.

You also get bonus points for achieving weekly/monthly goals for saving x% or watching short videos etc. Goals are dependent on what you still need to improve from the list above.
Click to expand...

Mmm, 3x monthly salary in savings going to be major challenge unless they are going to count RA's (which they probably don't). But the rest look doable enough that once I actually get an invite I'll give their game a go and see how their hoops compare to e-bucks and if I can make it worth the monthly fee.
Currently given the amount of nappies we buy, the Healthycare boost on its own could pay for the account even before reaching diamond
 
SaiyanZ said:
It's actually really easy to get Diamond status (the max). All you need is:

- 3x your monthly salary in savings (either in a Vitality savings account or with an investment manager. Savings in cash with other banks don't count (reason is they can't see it)
- Unsecured debt repayments must be less than x% of salary. Looks like 12.5%
- Motor vehicle and life insurance (standard GLA with employer counts)
- Saving x% of salary for retirement
- Secured debt (like home loans) vs your savings must be a certain amount (not sure how much. Depends on age too)

The 3x monthly salary savings, unsecured debt and insurance counts the most. I don't even have any points for the secured debt as yet and will be able to make it to Diamond once I transfer some cash into savings.

You also get bonus points for achieving weekly/monthly goals for saving x% or watching short videos etc. Goals are dependent on what you still need to improve from the list above.
Click to expand...
Where did you get this info,via their website if so do you have a link or did they send this to you?
 
I see one of the account features of Discovery Bank is "You also get enhanced payment features including tap and go, Fitbit Pay, Garmin Pay and Samsung Pay"

Given that I need to get a new fitness watch now that TomTom support is ending, I was wondering if anyone has a FitBit/Garmin/Samsung wearable that they use regularly for contactless payments?

Given that a device with contactless payment will likely be a more expensive one - is it worth it?
 
amabacha said:
I see one of the account features of Discovery Bank is "You also get enhanced payment features including tap and go, Fitbit Pay, Garmin Pay and Samsung Pay"

Given that I need to get a new fitness watch now that TomTom support is ending, I was wondering if anyone has a FitBit/Garmin/Samsung wearable that they use regularly for contactless payments?

Given that a device with contactless payment will likely be a more expensive one - is it worth it?
Click to expand...
Samsung is thr best of the lot. As it supports Samsung pay, which is the better payment method. Fnb pay had a huge failure rate for me, some say it works fine for them, but for me not so much.
 
amabacha said:
I see one of the account features of Discovery Bank is "You also get enhanced payment features including tap and go, Fitbit Pay, Garmin Pay and Samsung Pay"

Given that I need to get a new fitness watch now that TomTom support is ending, I was wondering if anyone has a FitBit/Garmin/Samsung wearable that they use regularly for contactless payments?

Given that a device with contactless payment will likely be a more expensive one - is it worth it?
Click to expand...

I use the Samsang Gear S3 for tap to pay and it works flawlessly.
 
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