Here it is – Discovery Bank’s account prices and discounts

Discovery Bank has unveiled its three banking accounts – Discovery Gold Card, Discovery Platinum Card, and Discovery Black 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.

On 1 July, Discovery Bank started to add more clients to its platform with the aim of onboarding 1,000 new customers every day by the end of August 2019.

“We are encouraged by the substantial show of interest from non-Discovery clients,” Discovery Bank CEO Barry Hore said.

“We would like to give those who have already expressed interest, and who are patiently waiting for the opportunity to onboard, the assurance that we will get to them starting 1 July.”

Discovery Bank accounts and banking fees

The three Discovery Bank accounts include numerous features, including:

  • A standalone credit card with a complimentary, separate transaction account for day-to-day banking.
  • Up to 55 days interest-free for credit card transactions.
  • Pay a single monthly fee for all your transactions.
  • Vitality Money, which rewards you for banking healthier with Dynamic Interest Rates and boosted Vitality discounts and cash back.
  • Up to 75% off local and international flights.
  • A guest gets six free visits each year to 1,000s of airport lounges worldwide.
  • Enhanced payment features including tap and go, Fitbit Pay, Garmin Pay, and Samsung Pay.

The Discovery Bank dynamic discounts include:

  • Up to 75% off local flights and up to 50% off international flights.
  • Up to 100% back on gym memberships.
  • Up to 75% cash back on HealthyFood.
  • Up to 50% cash back on HealthyCare and HealthyGear items.
  • Up to 15% back on fuel at Shell and BP.
  • Up to 15% back on Uber trips.

The table below provides an overview of Discovery Bank’s account and transaction fees.

Discovery Full Banking Suite
Account Black Platinum Gold
Monthly account fee R325 R135 R90
Vitality Money premium R55 R45 R35
Transaction fees
Cash withdrawal at local ATM Unlimited 8 free 4 free
Cash withdrawal at local point-of-sale Unlimited Unlimited Unlimited
Cash withdrawal at international ATM Unlimited R65 R65
Debit orders Unlimited Unlimited Unlimited
Payments Unlimited Unlimited Unlimited
Real-time payments Unlimited R10 R10
Discovery Pay Unlimited Unlimited Unlimited
Other fees
Inter-account transfers Free Free Free
Payment notifications Free Free Free
Account notifications Free Free Free
Returned debit order Free Free Free
Declined transactions Free Free Free
Single credit facility initiation fee R165 R165 R165
A single credit facility fee R60 R60 R60
Currency conversion fee 2.75% 2.75% 2.75%
Card replacement fee R150 R150 R150
Normal pricing applies after free transactions have been used (local ATM cash withdrawals: R4.50 + 1.5% of withdrawn amount)

Now read: Discovery Bank starts rolling out to all customers

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Here it is – Discovery Bank’s account prices and discounts