The Discovery Bank

Pay-as-you-transact fees

Qualifying income from R850,000 to R2.5 million a year

R110 per month

 

Superior banking that gives you control

 
The Discovery Bank Black Transaction Account with pay-as-you-transact fees is the perfect choice for you if you need nothing more than an exceptional transaction account for your everyday banking.
This account has full transactional capabilities including the ability to set up third-party debit orders, make digital payments and accept salary deposits. You also get access to the only Real-Time Forex Accounts, available 24/7 on your banking app.
Engage with our Vitality Money programme and increase your Dynamic Interest. Get faster security clearance at OR Tambo and Cape Town International Airports, plus you can enjoy over 1,200 airport lounges worldwide.
And that's only the beginning.

Get the account that gives you access to Discovery Miles

Discovery Bank rewards clients with Discovery Miles for getting healthier, driving well and spending responsibly. Discovery Miles is Discovery's rewards currency that's more versatile - and more valuable - than cash, with more ways to earn and spend them than ever before.

Earn thousands of Discovery Miles every week on the new,
personalised gameboard with Vitality Active Rewards

Your goals

Achieve your weekly Spend, Exercise or Drive goal to unlock Activity tiles of up to –500

Your products

Unlock the Discovery tile of up to –750 based on how many Discovery products you have

Your spend

Spend at our grocery, pharmacy and fuel partners to unlock the Partner Spend tiles of up to –500 for the chance to earn your largest weekly transactions back

Get up to 30% off when you spend your Discovery Miles:

With a Discovery Bank Black Transaction Account with pay-as-you-transact fees, you could get up to 15% off when you spend your Discovery Miles throughout the month:

Up to 15% off when you shop with your Discovery Miles at over 40 great online and in-store retail partners. Plus, this doubles to up to 30% off for 24 hours on Miles –-Day on the 15th of every month
Up to 15% off when you use your Discovery Miles to buy airtime, data or prepaid water and electricity on the banking app
Up to 15% off when you spend them on a range of exciting rewards in the Vitality Mall
 

You can also:

Spend your Discovery Miles on flights, holiday accommodation and car hire
Exchange your Discovery Miles for cash
Or send them to your contacts with a Discovery Miles Account
 

Save more and pay less with Dynamic Interest Rates

As a Discovery Bank client, you can control your interest rates with your Vitality Money status through Dynamic Interest Rates. With a Discovery Bank Black Transaction Account with pay-as-you-transact fees, you can get:

Up to 2% interest on your positive balances in your everyday accounts.

Up to 6.75% interest on demand savings accounts.

Up to 5% less interest on your borrowing rate.

Access a world of unparalleled travel discounts in the most convenient way

Vitality Travel is the first-of-its-kind, one-stop travel booking platform in South Africa that you get exclusive access to with Discovery Bank.

Enjoy unprecedented discounts on a wide range of local and international flights, holiday accommodation, car hire and exciting travel experiences.

Travel benefits and services
  • You can now book your discounted local and international flights in the Discovery Bank app - tap, tap, fly!
  • Free multi-trip international travel insurance with flight tickets purchased using your Discovery Bank Black cards
  • International cover for rental car collision damage
  • The ability to make purchases and cash withdrawals worldwide, wherever Visa is accepted
Up to  25%
off local flights

Get up to 25% off six one-way local flights with our partner airlines, plus an unlimited 10% off afterwards
 

Up to  25%
off international flights

Get up to 25% off two return regional or international bookings with our partner airlines, plus an unlimited 10% off afterwards

Up to  25%
off holiday accommodation
and car hire

Get 10% to 25% off unlimited local accommodation and car hire

Plus, use Discovery Miles to pay for thousands of non-discounted local and international listings on Vitality Travel through Booking.com

Enjoy six visits a year to access over 1,200 airport lounges worldwide with LoungeKey.

Plus, get faster security clearance with Discovery Bank Priority Fast Track at OR Tambo and Cape Town domestic departures

Improve your finances with Vitality Money

When you join Discovery Bank, we help you review your financial health based on five key financial behaviours and you get a Vitality Money status based on this. Your Vitality Money status gives you a good indication of how well you are managing your finances.

Not only that, but your Vitality Money status is also directly linked to what rewards you can earn. That's why we'll show you the steps to improve your status and give you access to tools like our Vitality Money Financial Analyser, which uses advanced analytics to give you intelligent insights and personalised alerts to help you become better with your money. As your Vitality Money status improves, so do your rewards.

More on Vitality Money

Get the only Real-Time Forex Accounts

You can quickly and easily open our Discovery Bank Forex Accounts, available in British Pounds, Euros and US Dollars, 24/7 on the Discovery Bank app.

Get real-time rates and immediately start saving and transacting in the foreign currency of your choice. Plus, you pay no fees when you transfer and convert between your foreign currency and Rand accounts, and we'll help you manage your foreign currency allowances too!

Add your free virtual card on the banking app and link it to your smart device for fast on-the-go payments while you travel outside South Africa or order a physical debit card for cash withdrawals abroad.

Open. Convert. Save. Pay. In seconds.

What features to expect with your Discovery Bank

An advanced and intuitive banking app
  • Add more or upgrade your accounts
  • Manage your cards, PINs and limits
  • Check your account balances
  • View your Dynamic Interest Rates
  • Transfer funds between accounts
  • Manage and spend your Discovery Miles
  • Make international payments in over 60 currencies
  • Track foreign currency allowances
  • Set up beneficiaries
  • Set up debit orders
  • View and export transaction history
  • Use Smart Search to find transactions
  • Save important receipts and documents with Smart Vault
  • Make online payments and EFTs
  • Get immediate in-app help from a Discovery Banker with Live Assist
  • And much more!
Comprehensive banking benefits
  • Unlimited free Discovery Bank virtual cards to start using immediately after joining.
  • Save and transact in US Dollars, British Pounds and Euros with your Real Time Forex Accounts
  • Instantly settle medical co-payments at pharmacies like Clicks and Dis-Chem, hospitals and medical service providers with Health Pay
  • Make on-the-go payments with Apple Pay, Fitbit Pay, Garmin Pay, Google Pay, Samsung Pay and SwatchPAY!
  • Pay any of your contacts who are Discovery clients, using just their cellphone number
  • Withdraw cash at a till point at Checkers, Pick n Pay, Shoprite and selected Spar stores
  • Make deposits at Boxer, Checkers, Pick n Pay and Shoprite stores
  • Get free transaction notifications and monthly account statements
  • Choose from a range of unlimited, free savings account options, with personalised interest rates for large deposits
  • Access a range of Vitality Money tools to help you manage and improve your financial health
  • Real-time payments from as little as R1 using Discovery Instant Pay or PayShap to other South African banks, available 24/7.
Enhanced security features
  • Advanced facial-recognition technology when logging in to the banking app
  • Discovery Bank Black cards use secure chip and PIN technology
  • Your card can make fast and secure tap-and-go payments
  • Secure tap-and-go payments with smart devices that support Apple Pay, Fitbit Pay, Garmin Pay, Google Pay, Samsung Pay and SwatchPAY!
  • Additional security with Verified by Visa and Visa Checkout for online purchases
  • Greater shopping convenience and security when shopping online with Discovery Bank virtual cards.
A Discovery Miles Account
  • View, track, manage and spend your Discovery Miles
  • Generate vouchers for in-store payments
  • Purchase airtime, data, and prepaid water and electricity
  • Exchange your Discovery Miles for cash
  • Send Discovery Miles to your contacts.
Free cover
  • Automatic warranty extension of up to 24 months and short-term protection against theft and accidental damage of purchases made with your Discovery Bank Black card.

Banking fees for the Discovery Bank Black Transaction Account with pay-as-you-transact fees

With a Discovery Bank Black Transaction Account with pay-as-you-transact fees you have a monthly fee of R110 that includes your monthly account fee and your Vitality Money premium. After that, you transact and only pay for what you use. For more details on your banking fees, please see the fees guide.

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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