New Discovery bank on its way

Drifter

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Dec 19, 2012
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Say what? If there banking fees are going to be structured and priced in similar lines as their insurance products, they will never get into the market.
 

Toxic T

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Mar 13, 2013
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Say what? If there banking fees are going to be structured and priced in similar lines as their insurance products, they will never get into the market.
They will just link it to their discovery portfolio as always and give free benefits... same song :whistling:
 

The_MAC

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Oct 11, 2012
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If you drink 1000 smoothies, run 60km/day and do 500 burpies/day they will waiver the bank charges.. But remember to have your fitness tracker on
 

Toxic T

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Mar 13, 2013
Messages
949
If you drink 1000 smoothies, run 60km/day and do 500 burpies/day they will waiver the bank charges.. But remember to have your fitness tracker on
Your whole lifestyle will have to change just to make points, points and more points to save R500 a month. Is it worth the effort?
 

Hemi300c

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Dec 15, 2009
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20,194
Good, not a fan of Discovery at all but the current banks in SA are in need of competition and a wake-up.
 

LazyLion

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Mar 17, 2005
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If you drink 1000 smoothies, run 60km/day and do 500 burpies/day they will waiver the bank charges.. But remember to have your fitness tracker on
And next week it will be 2000 smoothies, run 120 km and do 1000 burpies.
 

P924

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Jan 18, 2010
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2,271
Good, not a fan of Discovery at all but the current banks in SA are in need of competition and a wake-up.
I don't think discovery will be challlenging any of the current banks based on pricing... (or service for that matter)
 

blowdart18

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Nov 12, 2015
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If you drink 1000 smoothies, run 60km/day and do 500 burpies/day they will waiver the bank charges.. But remember to have your fitness tracker on
Don't forget you have to go to gym 8 days a week . . . .
 

Messugga

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Sep 4, 2007
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The nice thing with this is that they start with a clean slate. The existing banks struggle hugely with legacy processes that are difficult to move away from.
 

Lord Farquart

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Nov 27, 2012
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4,721
I am with Discovery medical aid, but that is it. Got quoted on their credit card, life and short term insurance. Nothing there for me, so will also not support the banking idea. They can not offer a simple product.
 

Ockie

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Feb 16, 2008
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Will they have brick and mortar branches or online only?
 

Tman*

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Jul 18, 2012
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Hmmm, Am I the only one thinking this is not a good idea?

Having your investments, medical aid, Insurance, banking through one provider is a disaster waiting to happen.
 

Garson007

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Joined
Jan 26, 2007
Messages
11,614
The nice thing with this is that they start with a clean slate. The existing banks struggle hugely with legacy processes that are difficult to move away from.
It's highly unlikely they are developing the systems internally. They're almost guaranteed to suffer from the same COBOL hell everyone else does.
 

The_MAC

Executive Member
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Oct 11, 2012
Messages
5,135
Will they have brick and mortar branches or online only?
They will definitely try to Uberise the banking industry, so my money is on online-only, I think they will be pretty strong in the mobile app segment.
 

MagicDude4Eva

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Apr 2, 2008
Messages
6,479
I've heard stories. Do you have personal experience with him?
Plenty of insight, but not going to share too much as it will get me into deep trouble. One of the more memorable ones if the coffee-racism spat from a few years ago and then shortly afterwards the issue he caused with HR (and never mind stepping onto the feet of Home Affairs).

He is certainly a brilliant person when it comes to get projects done, but is not a people's person and if you are on his bad side, it's better to look for a career elsewhere. One can certainly thank him for pushing the new Home Affairs IT system in (they would not have been able to do it themselves). There was plenty of water-cooler talk about corruption/bribery and favoring certain vendors, but I think he just picked the people who could get the job done and most of the negative feedback originated from jealous parties.

I never worked with him or have met him in person, but the above are stories from quite a few people having worked with him. I doubt that any SARS contractor would openly be brave enough to say something negative about him out of sheer fear :whistling:
 

yebocan

Executive Member
Joined
Sep 22, 2005
Messages
9,474
Nothing like your medical aid and bank being the same entity...- We note that your medical coverage has run out, no need to worry, you have been pre approved for a loan, to take care of that medical short fall...
 
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