Discovery Bank's pricing and discounts

Bradley Prior

MyBroadband Journalist
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Oct 16, 2018
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Discovery Bank's pricing and discounts

Discovery Bank has unveiled its three banking accounts - Discovery Black Card, Discovery Platinum Card and Discovery Gold Card – with prices ranging between R90 and R325 per month.

The bank was officially launched in November 2018 and since then it has slowly signed up new clients as part of its early testing period.
 

Louis72

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Jun 15, 2010
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Downloaded the app. Enter my information and get to the end where it asks for a cell phone number. I get a USSD promt to verify my cell phone number it is successful but the the app says the number is already in use with another profile? Phoned the call center and was just told they will phone me when they are ready. My number has been in use for 15 years and I have no other products with them.

Compared to me opening an additional Trusave account in 2 minutes online in the same week or applying for insurance. Why does it have to be so clunky it could just say that they are not ready for me yet? Granted R90 for gold bundle is a killer price FNB Gold is R109 and Absa Gold R107
 
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backstreetboy

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Thing is they target middle to high income that have many transactions so PAYT doesnt work out cheaper compared to bundled options.
Then MyBB did incorrect reporting or they (Discovery) lied.

https://mybroadband.co.za/news/banking/284710-discovery-bank-launched-all-the-details.html
Discovery Bank will offer a basic Discovery 1 account in addition to a comprehensive Discovery 1 Plus product. There will be no set fees for the Discovery 1 account, with customers instead paying as they transact.
Even doing 25 transactions PAYT is still cheaper...
https://businesstech.co.za/news/banking/280313/the-cheapest-and-most-expensive-bank-accounts-in-south-africa-2/
 

backstreetboy

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So zero reason to switch from FNB to Discovery then.
I take it you switched to FNB in the end? Do you get enough ebucks to make it worthwhile? Remember you trying to figure out the rules and levels.
 

jambai

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Oct 18, 2007
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Why are they not telling us more about the benefit details like lounge access,iphone ,flight discount as cant seem to find the nitty gritty info .I cant see reason to change as no discovery miles as well .Looks more like a mess to me or sales people living in cuckoo land who going on other discovery products hype .Yes vitality might work but banking is less frill otherwise you go for a private bank
 

Thor

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Jun 5, 2014
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I take it you switched to FNB in the end? Do you get enough ebucks to make it worthwhile? Remember you trying to figure out the rules and levels.
I am about to I just waited for discovery was hoping they would be better than FNB, but it seems now FNB is the defacto best bank.
 

Gtx Gaming

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Aug 25, 2008
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I take it you switched to FNB in the end? Do you get enough ebucks to make it worthwhile? Remember you trying to figure out the rules and levels.
Ebucks still king for me at-least, discovery is effort to max it out.

Ebucks gives me 50% back on fuel now anyway, discovery does give you more, but you have to drive perfectly and have insurance with them. Discovery charges me R800 more a month for insurance lol

Discovery mainly give rewards healthy food, nothing I buy seems to count as healthy food, I do have medical aid and healthy food card. Ebucks gives you 15% back at checkers for anything.
 

ozziej

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Jul 22, 2009
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When(if) discovery launch their asset finance (cars / homes) then things might become tempting for me to switch from FNB. Not until then...
 

werfie

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Aug 16, 2010
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I think it's a step up from other banks in terms of paying a fixed fee for a truly unlimited product on the Blank option. It is just still very conventional, doesn't seem much different to they way banking works at other banks.

I like Tyme's approach more, even with growing pains, they have taken a much more revolutionary approach.
 

John Tempus

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Aug 8, 2017
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I think it's a step up from other banks in terms of paying a fixed fee for a truly unlimited product on the Blank option.
If you are interested in the discovery Black card at R325 just for fixed fees (they dont mention anything about fees for cash deposits which is a red flag for me) then just go with bidvest R175 card no fees on withdrawals etc unlimited at nearly half the monthly price.

I guess most people interested in Discovery Black Card would go for it along with line of credit then it is probably a better option if credit is important to you.
 

Dups!

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Apr 15, 2010
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I am about to I just waited for discovery was hoping they would be better than FNB, but it seems now FNB is the defacto best bank.
Am with FNB and was waiting to see what Discovery was offering so I can decide.

Signed up last year but couldn't be on-boarded as they were not ready or doing their "phased in" approach and then I ended up losing interest.

After seeing this I am glad I lost interest, sticking with FNB as I am happy with it. Tyme serves as my savings account while Capitec is my back up.
 

hj007

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Aug 30, 2006
Messages
483
If you already have a credit card with discovery then it seems you get more for the same price? Paying R140pm for 2 platinum credit cards, it looks like you get additional cash back if you include the bank account now but at the same montly price? I'm lost...
 
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