Discovery Bank launches zero-fee account and hits one million clients

Discovery Bank has announced that it officially reached one million accounts together with a slew of new banking and lifestyle benefits — including a bank account for Discovery Group clients with no monthly fee.

In addition to the new banking option, dubbed Discovery Account, it also announced new Vitality products, including “Pay as you gym” and unique travel benefits.

Discovery describes its new banking product as “a fully digital banking account at zero monthly fees”, and it is available to Discovery clients who don’t already have a bank account with the organisation.

It includes access to Discovery’s Vitality Travel booking platform, a Discovery Miles account, and Discovery Pay.

The Vitality Travel booking platform allows clients to save 10% when booking local and international flights with airlines including Airlink, FlySafair, Lift, South African Airways (SAA), and CemAir.

It also includes accommodation and car hire savings while allowing clients to pay for bookings with Discovery Miles.

The Discovery Miles account lets clients track their miles, convert them to cash, or access discounts of up to 15% when spending them.

Discounts are doubled on the 15th of every month with Discovery’s Miles Ð-Day.

With Discovery’s Vitality Travel benefit, banking clients will be allowed access to “The Lounge” — an airport lounge made available through a partnership between Discovery and SAA — in addition to offering average savings of 31% per flight.

“Since its launch, in the short space of four months, Discovery Bank clients are saving on average 31% per flight,” Discovery said.

Visitors to “The Lounge” will have access to premium coffee, drinks, and healthy dining options.

Discovery is also adding more local airlines to its Vitality Travel flight partner network.

“SAA and CemAir will also join the Vitality Travel flight partner network, complementing Safair, SA Airlink and Lift to complete a full offering of discounted flights on all SA domestic and regional flights,” Discovery stated.

The financial organisation’s Vitality “pay-as-you-gym” is available to all Discovery clients, including those who opt for the Discovery Account banking product.

It gives clients access to more than 170 Virgin Active and Planet Fitness clubs across the country for a fee of between R75 and R100, depending on the facility.

Those interested can scan the QR code at the gym’s entrance to pay the fee from a Discovery Bank transaction account, credit card, or using Discovery Miles.

Discovery is running a promotion on the Vitality pay-as-you-gym benefit between 20 June and 31 July 2022, where clients can make unlimited use of it for free.

“Our first million accounts is an endorsement of our shared-value banking model and provides us with a strong foundation to continue to disrupt the market,” Discovery Bank CEO Hylton Kallner said.

“With all of the new services and capabilities announced today, our goal is to do just this and further enhance our clients’ banking, travel and payments journeys, and enable Discovery Bank as the operating system for all Discovery clients and products,” he added.

Now read: Cheapest Internet banking fees in South Africa

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Discovery Bank launches zero-fee account and hits one million clients