Pay anyone instantly from as little as R1 in your Discovery Bank app!

If you enjoy making easy payments with Discovery Bank, you'll love our new convenient and affordable ways to pay and get paid in real time. Why the emphasis on instant payments?

Each month, Discovery Bank clients make over half a million payments and counting from the Discovery Bank app. Instant payments make up more than half of all payments - and have doubled in volume since last year. Let's take a closer look.

Instant payments in action

Need to send money to a friend or family member as soon as possible?

You can make an instant or real-time payment from as little as R1 and your loved one will have the money in their bank account immediately.

With Discovery Instant Pay, you can make real-time clearance payments to any South African bank account at any time, on any day of the week, instantly. And with PayShap now available in your banking app, you can send or receive payments of up to R3,000 instantly by using someone's ShapID (cellphone number) when their bank supports PayShap - no account details required!

What's more, while other banks may charge you as much as R50 for an instant payment by adding different fees for real-time clearance and PayShap payments, with Discovery Bank you pay the same low fees for both payment types.

The transaction fee for real-time payments in your banking app is based on your Discovery Bank product, not the account from which you send it.

If you have a Discovery Bank Transaction Account, Credit Card Account, Suite or Ðiscovery Account, you pay:

• R1 for payments of R100 or less
• R5 for payments of R1,500 or less
• 0.4% of the transaction amount for payments over R1,500 (but never more than R30!)

And, if you have a Discovery Bank Black or Purple Suit or a Black Transaction Account with bundled fees, you can make 30 free instant payments a month through Discovery Instant Pay or PayShap.

When you're making a real-time payment to a supported South African bank account using an account number, your banking app automatically selects between the two, depending on the value of the payment. Now that's convenience.

Set up a ShapID in just a few taps today...

And when it's time to make or receive an instant payment, we'll do the rest.

Visit our Info and tips page to learn more about Discovery Instant Pay and PayShap with Discovery Bank.

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This article is meant only as information and should not be taken as financial advice. For tailored advice, please contact your financial adviser.

Discovery Miles do not constitute currency or any other medium of exchange in circulation in South Africa. Rewards are based on your engagement in Vitality programmes, Discovery products, and monthly qualifying card spend. Discovery Bank, Auth FSP. Limits, terms and conditions apply.

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