Discovery Bank products

Discovery Bank has a wide range of banking products designed with you in mind. Here you will find all the information you need about our range of savings solutions, day-to-day transaction accounts, state-of-the-art credit cards, full banking suites and more.

Discovery Bank has a wide range of banking products designed with you in mind. Here you will find all the information you need about our range of savings solutions, day-to-day transaction accounts, state-of-the-art credit cards, full banking suites and more.

Discovery Bank products

What products does Discovery Bank offer?

Discovery Bank has four banking product collections for you:

Each of these collections offers a wide range of transactional and savings products, including:

  • Discovery Bank Transaction Accounts. A day-to-day cheque account with an optional overdraft facility. This is available on either a pay-as-you-transact or bundled fee plan.
  • Discovery Bank Card Accounts. A powerful standalone credit card account with full transactional capabilities. This is available on either a pay-as-you-transact or bundled fee plan.
  • Discovery Bank Suites. Get the full Discovery Bank experience with a transaction and credit card account, as well as a single credit facility. This is available on a bundled fee plan.
  • Savings and investment accounts. We offer a range of savings and investment accounts. This includes immediate access, notice, and fixed deposit accounts.
What is the difference between the different Discovery Bank Collection colours?

Discovery Bank clients can sign up for products from one of four different collections. The collections you have access to depend on your qualifying gross annual income. This is done to ensure that you get the most out of our products and the Vitality Money programme, which is tailored to your income.

The different collections and their qualifying annual income are:

  • The Gold Collection: Lower than R350 000 a year
  • The Platinum Collection: From R350 000 to R850 000 a year
  • The Black Collection: More than R850 000 to R2.5 million a year
  • The Purple Account: More than R2.5 million a year.

For more information on these collections, please see the Explore our products page.

Where can I find more information about Discovery Bank accounts and products?

For more information about any Discovery Bank products, accounts, and their features, visit the Accounts page and choose the relevant product.

How do I apply for Discovery Bank products?

To apply for any Discovery Bank product, download the Discovery Bank app and open your account in under five minutes. You can also leave your details on the Discovery website and we'll call you back.

Which product do I choose?

To help you choose the right product from our range of day-to-day transaction accounts, state-of-the-art standalone credit card accounts, full banking suites and savings accounts, you can visit our Accounts page. It has side-by-side product comparisons to make comparing easier.

What do Discovery Bank products cost?

The monthly fees depend on your product selection and card colour. Your product selection will also determine whether you’ll be on a bundled fee or pay-as-you-transact option.

The fees guide for each product is available in the Product comparison section of the Explore our products page.

What credit products does Discovery Bank offer?

With Discovery Bank, you get a single credit facility that can be linked to a credit card account, an overdraft facility on your transaction account, or both.

For more information, see The single credit facility section.


Discovery Bank Suites

What is a Discovery Bank Suite?

A Discovery Bank Suite is a full banking suite on a bundled fee price plan that includes:

  • A credit card account with an enhanced state-of-the-art credit card
  • A transaction account for your day-to-day banking needs
  • A joint single credit facility to manage your credit cards and overdraft facility
  • A Discovery Miles Account
  • A free Vitality Savings Account
  • Access to unlimited additional free savings accounts.

For more information about the single credit facility, please see The single credit facility section.

Why would I choose a Discovery Bank Suite over a Discovery Bank Card Account?

If you choose a Discovery Bank Suite over a standalone Discovery Bank Card Account, you get a state-of-the-art credit card that comes with up to 55 days of interest-free credit for select credit card transactions and built-in full transactional capabilities. You will also get access to:

  • A transaction account with an overdraft facility included
  • The bundled fee payment option
  • Even higher boosted rewards
  • Even better Dynamic Interest Rates
  • The Vitality Money gym benefit
  • Free Health Banking.

To compare the Discovery Bank Card Account and Discovery Bank Suite, see this useful product comparison page.

Why would I choose a Discovery Bank Suite over a Discovery Bank Transaction Account?

If you choose a Discovery Bank Suite over a standalone Discovery Bank Transaction Account, you get a transaction account for your day-to-day banking needs with an overdraft facility. You will also get access to:

  • A state-of-the-art credit card that comes with up to 55 days of interest-free credit for select credit card transactions and built-in full transactional capabilities
  • Dynamic Discounts, like up to 75% back on HealthyFood purchases and more
  • The bundled fee payment option
  • Even better Dynamic Interest Rates
  • Health Banking included for free

To compare the Discovery Bank Transaction Account and Discovery Bank Suite, see this useful product comparison page.

Where can I find out more about Discovery Bank Suites?

To find more information about the Discovery Bank Suites or to compare our full banking suites with other Discovery Bank products, please visit the Explore our products page.


Discovery Bank Card Accounts

What is a Discovery Bank Card Account?

The Discovery Bank Card Account gives you an enhanced state-of-the-art credit card and offers you unique rewards on a pay-as-you-transact price plan. 

This state-of-the-art credit card comes with up to 55 days of interest-free credit for select credit card transactions, as well as built-in full transactional capabilities so you can create third-party debit orders, make and receive digital payments and receive salary deposits. 

Where can I find out more about Discovery Bank Card Account?

To find more information about the Discovery Bank Card Account or to compare it with other Discovery Bank products, please visit the Explore our products page. 


Discovery Bank Transaction Accounts

What is a Discovery Bank Transaction Account?

The Discovery Bank Transaction Account provides you with a transaction account (also known as a cheque account) for your day-to-day banking needs and is available on both bundled fee and pay-as-you-transact price plans. This product comes with an optional overdraft facility.

For more information about the overdraft facility, please see The single credit facility

Where can I find out more about Discovery Bank Transaction Account?

To find more information about the Discovery Bank Transaction Account or to compare it with other Discovery Bank products, please visit the Explore our products page. 


Discovery Bank Savings Accounts

Does Discovery Bank have savings accounts?

At Discovery Bank, you have access to a wide range of savings accounts and you can add as many free savings accounts to your banking portfolio as you want. 

The savings account options at Discovery Bank include: 

  • A free Vitality Savings Account for your personal savings goals. 
  • Free short- and medium-term savings accounts, such as: 
    • Demand Savings Accounts 
    • Notice Savings Accounts 
    • Tax-Free Notice Savings Accounts 
  • Free long-term savings accounts that: 
    • Include a range of Fixed Deposit Accounts that offer you access to your money after the investment term. Investment terms can range from 3 to 24 months. 
    • Gives you the option to have interest paid out monthly, upfront or on maturity. 
Where can I find out more about Discovery Bank savings accounts?

To find more information about Discovery Bank’s savings accounts or to compare our different savings accounts, please visit the Saving with Discovery Bank page.

Where can I find out more about all of Discovery Bank’s savings rates?

For more information about the competitive savings rates Discovery Bank offers through its wide range of savings and investment accounts, please see the Savings accounts rates and fees page.


Discovery Bank Fees

What do Discovery Bank products cost?

The monthly fees depend on your product selection and product colour. You can also choose between paying the bundled fee or pay-as-you-transact option.

The fees guide for each account is available in the product comparison section of the Explore our products page.

 
 
 
 
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