Discovery Bank Launch
September 2021

The new Discovery Bank Forex Account allows clients to easily transfer, save and transact in US dollars, Pounds and Euros.
Clients can open an account in just three easy steps, and can start transacting immediately. They can add a smart virtual card to their accounts and make purchases in any of the three major currencies using just one physical debit card.
There are no fees for transfers between their ZAR (rand) account and their GBP, USD, or EUR accounts. Exchange rates are quoted in real time and without any conversion fees. Clients can also manage their foreign currency allowances for transactions made through Discovery Bank.
The ability to make and receive international payments has also been extended to all clients with transaction and credit card accounts.
All this through the Discovery Bank app.
Discovery Bank has partnered with EasyEquities. Clients can now link their existing EasyEquities account to Discovery Bank. They can:
The Vitality Money Financial Analyser gives clients the insights to manage their money well and get the rewards they deserve. It uses advanced analytics to show clients comprehensive and personalised financial information about their income, savings and spending habits.
The Vitality Money Financial Analyser allows clients to:
Clients can boost their Vitality Money status and get up to 5 000 additional Vitality Money points by setting up their Vitality Money Financial Analyser budget and sticking to it.
Clients can enjoy the benefits of a structured credit facility of up to R5 million with Discovery Bank with the backing of their existing Discovery Invest investments. They won't give up their investments or pay penalties or taxes. You can request securitised credit when onboarding a client to Discovery Bank or convert their existing facility if they already have one with Discovery Bank.
Clients receive a Black or Purple Discovery Bank Suite and are eligible for full rewards and benefits.
We've enhanced our travel rewards, and clients now get:
We've developed an all-in-one convenient, digital travel experience that allows clients to:
We've updated the Discovery Bank app with many additional features. Among these features are AI-driven push notifications, which alert clients of any transactions or activity on their accounts. This includes intelligent notifications from the Vitality Money Financial Analyser on how they're tracking against their budgets.
First, we brought clients Discovery Pay to give them the ability to pay other Discovery clients using just their cellphone numbers.
Now, we've enhanced Discovery Pay to include:
Now Discovery Health Medical Scheme and Vitality Health members can get access to Discovery Pay. All they need to do to activate Discovery Pay is download the Discovery Bank app and they'll get access to additional benefits including Vitality Money, Discovery Miles and Vitality Travel.
Members will:
Members also get access to Vitality travel:
See how Discovery Bank compares to competitor banking products in just a few clicks.
The new Discovery Bank competitor comparison tool compares over 50 bank products across South African banks, and will give you and your clients an easy-to-understand comparison across:
We've been hard at work creating new Discovery Bank campaigns with prioritised client leads that you can use to identify priority Discovery Bank sales opportunities. Request your new Leads Suite campaigns directly from the Financial Adviser Zone.
Current campaigns include:
LIVE | Q4 2021 | 2022 |
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