Managing your accounts

All the information you need to manage your Discovery Bank cards. From changing your PIN to applying for additional cards, check out the frequently asked questions, how to guides and Discovery Bank documents and guides.

From adding new accounts and managing your single credit facility to accessing your account statements and linking your DStv and Netflix payments to your accounts - here, you'll find all the information you need to manage your accounts.

Paying your accounts

How do I pay money into my Discovery Bank account from another bank?

To pay money into any of your Discovery Bank accounts from your account at another bank, you need to add Discovery Bank as a beneficiary.

See How do I add my Discovery Bank account as a beneficiary at another bank?

How do I pay my Discovery Bank credit card using a debit order from one of my other Discovery Bank accounts?

You can add a debit order from another bank on your Discovery Bank app. To do this you must:

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Select your Discovery Bank credit card.
  4. Tap on the Discovery Bank credit card at the top of the screen to see your Account Details page.
  5. Tap  on the top-right corner and select Add debit order.
  6. Select the account you want to pay your credit card from.
  7. Tap on Payment option and select a payment option.
  8. Agree to the terms and conditions and tap Next.
  9. Tap Confirm to complete the debit order setup.

*Note: If you select for the debit order to run from your Discovery Bank Transaction Account, you will still need to have outside funds deposited into either your Discovery Bank Transaction Account or Discovery Bank Card Account equal to or greater than the minimum payment due on your single credit facility statement. For more information, please see the A quick guide to making payments into your Discovery Bank accounts brochure.

How do I pay my Discovery Bank credit card using a debit order from an account with another bank?

You can add a debit order from another bank on your Discovery Bank app. To do this you must:

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Select your Discovery Bank credit card. 
  4. Tap on the Discovery Bank credit card at the top of the screen to see your Account Details page.
  5. Tap  on the top-right corner and select Add debit order.
  6. Open the From dropdown list and select Add account from another bank.
  7. Enter the Bank name, Branch code, and Account number and tap Add.
  8. Tick '"I warrant that I am authorised to nominate the bank account provided" and "I agree to the terms & conditions of the mandate" and tap Next.
  9. Tap Confirm to complete the debit order setup.
What are the payment options when setting up a debit order to manage your credit card balance?

If you set up a debit order to manage the monthly payments of your Discovery Bank credit card, you have four payment options to choose from:

  • Pay a fixed percentage
  • Pay a fixed amount
  • Pay the full statement balance
  • Pay the minimum amount due.

For more information on how we determine the minimum amount due payment, please see the A quick guide to making payments into your Discovery Bank accounts brochure.

How do I add my Discovery Bank account as a beneficiary at another bank?

To add your Discovery Bank account as a beneficiary at another bank:

  1. Go to the other bank's account that you're paying from and find the option to create or add a new personal beneficiary.
  2. Add the following details:
    • Beneficiary name - you can add an account name
    • Branch code - 679000
    • Account number - this is the 11-digit account number found on the front of your card or in your Accounts list on the Discovery Bank app
    • Account type:
      • For credit cards or transaction accounts: Select Current or Cheque
      • For savings accounts: Select Savings.
         
  3. You can add a reference if you'd like.
  4. Save these details to your beneficiary list for quick payments in future.
Who do I contact to discuss arrears on my account?

The COVID-19 crisis and lockdown is a difficult time for many of our clients. Because of this, we are trying to help Discovery Bank clients meet their credit repayments on an individual basis. You should first try to change your repayment options so you pay only the minimum amount due if you've been paying more. However, if the COVID-19 lockdown has affected your income, and you have proof that you won't be able to make the minimum amount due, you can ask our Collections Department to come up with a relief plan.

You can contact us on 0800 07 96 97 and we'll put you through to the Collections Department. If you have an active Discovery Card Protector policy, you will have cover in the event of death, disability or severe illness as a result of contracting COVID-19. This benefit does not cover loss of income due to the lockdown.

How do I transfer money between my accounts?

To transfer money between your Discovery Bank accounts, you must:

  1. Log in to the banking app.
  2. Tap Transact.
  3. Tap Transfer.
  4. Select From and To accounts.
  5. Complete Amount and Reference details.
  6. Select Next and check that the details are correct.
  7. Tap Transfer to complete the transaction.
Can I use my credit card account as a transaction account?

Yes, your Discovery Bank Card Account has an 11-digit account number, which means that you can use it to make EFTs directly to and from your credit card, load debit orders for payment, and make and receive real-time payments.

How do I pay the overdraft on my transaction account?

See How do I pay my single credit facility?

Adding accounts

Where can I get more information on Discovery Bank accounts?

Get all the information you need on the transaction accounts, credit card accounts, savings accounts and full banking suites on offer by visiting the Discovery Bank Accounts Page.

How do I add a transaction account?

To add a Discovery Bank Transaction Account, you must:

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Tap on the top-right corner.
  4. Select Add account.
  5. Tap Transact.
  6. Complete the salary information and tap Next.
  7. Choose an account from the list and tap Get this.
How do I add a savings account?

To add a Discovery Bank savings account, you must:

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Tap on the top-right corner.
  4. Select Add account.
  5. Tap Save and Invest.
  6. Complete the salary information and tap Next.
  7. Choose an account from the list and tap See more.
  8. Tick the relevant T&Cs boxes and tap Get this.
How do I add a credit card account?

To add a Discovery Bank credit card, you must:

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Tap on the top-right corner.
  4. Select Add account.
  5. Tap Credit Card Account.
  6. Review the details, and tick the relevant T&Cs boxes.
  7. Tap Accept to complete the request.
What are the monthly fees for a Discovery Bank account?

The monthly fees on your account depend on the type of account you choose, the colour of your account, and whether you opt to pay per transaction or go for a fee bundle.

See the fees guides

Managing accounts

How do I hide or unhide accounts?

You can choose which accounts you see on your Discovery Bank app by hiding the accounts you do not want to see. To hide or unhide any of your accounts, you must:
 

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Tap on the top-right corner.
  4. Select Hide/Unhide accounts.
  5. Select the account to hide or unhide.
  6. Tap Update.
How do I change the order of my accounts?

You can choose the order in which your accounts appear on your Discovery Bank app. To change the order of your accounts, you must:

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Tap on the top-right corner.
  4. Select Change account order.
  5. Hold and drag account to change the order.
  6. Tap Update.
How do I close my account?

Discovery Bank clients can close their accounts by calling 0800 07 96 97.

Upgrading your product

How do I upgrade my card colour?

You can check whether you qualify for an upgrade by going on the Discovery Bank app. To see available options, you must:

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Tap on the top-right corner.
  4. Select Change account colour.
  5. Complete the relevant information and submit the request to see which accounts you qualify for.
How do I upgrade from a Discovery Bank Transaction Account with pay-as-you-transact fees to a Discovery Bank Transaction Account with bundled fees?

To upgrade your primary product from a Discovery Bank Transaction Account with pay-as-you-transact fees to a Discovery Bank Transaction Account with bundled fees, please call us on 0800 07 96 97 to request an upgrade.

How do I upgrade from a Discovery Bank Transaction Account to a Discovery Bank Suite?

To upgrade to a Discovery Bank Suite, you must add a credit card account to your existing transaction account. To add a credit card, simply:

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Tap on the top-right corner.
  4. Select Add account.
  5. Tap Credit Card Account.
  6. Review the details, and choose the full banking suite from the offer list.
  7. Tap Get this.
How do I upgrade from a Discovery Bank Credit Card Account to a Discovery Bank Suite?

To upgrade to a Discovery Bank Suite, you must add a transaction account to your existing credit card account. To add a transaction account, simply:

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Tap on the top-right corner.
  4. Select Add account.
  5. Tap Transact.
  6. Complete the salary information and tap Next.
  7. Choose the full banking suite from the offer list and tap Get this.
Note: Clients on the Discovery Bank Gold Prefunded Card Account will need to first increase the limit on their single credit facility before they can upgrade to a Discovery Bank Suite.
How do I upgrade from a Ðiscovery Account to another Discovery Bank product?

You can upgrade from an existing Ðiscovery Account to a Gold, Platinum or Black transaction account with pay-as-you-transact fees, based on your declared gross monthly income. To upgrade your Ðiscovery Account, simply:

  1. Log in to the banking app.
  2. Tap Accounts.
  3. Tap on the top-right corner.
  4. Select Change account colour.
  5. Choose a Gold, Platinum or Black Transaction Account with pay-as-you-transact fees.
  6. Tap Get this.

To upgrade to a Discovery Bank Transaction Account with bundled fees, or to apply for credit on your transaction account, please call us on 0800 07 96 97.

To add a Discovery Bank Credit Card Account, please follow the steps to add a credit card account.

How does upgrading my account affect my rewards?

After upgrading, you will immediately have access to any rewards linked to your new account, as long as you meet their relevant qualifying criteria. For example, the previous month's qualifying spend, activation of benefits, your Vitality Health membership, and so on.

For more information on the rewards and benefits linked to your new account, refer to the relevant account on the Discovery Bank Accounts page.

Will I have the same card number after I upgrade?

When you change card colour, or add a new credit card account, we'll send you a new physical card. Your virtual cards will continue to work as before.

For security reasons, the new physical card will have a new, unique 16-digit card number. Once you activate the new physical card in the Discovery Bank app, we will immediately cancel your old physical card.

How does changing account colour affect my secondary cards?

When you upgrade your account colour, all cards linked to the account need to change, including secondary cards. All secondary cardholders will receive a notification inviting them to order a new card and to provide a delivery address where it would be convenient for us to deliver the new card.

Each secondary cardholder will need to order a new card from their own app. The process will be similar to when the secondary cards were set up initially. However, the secondary cardholders might have to provide their ID or proof of address, if this information is outstanding.

Each cardholder will need to activate their new card in their own app once they receive it. Their existing cards will continue to work until they have replaced and activated their new cards, whether or not the primary cardholder and other secondary cardholders (who are linked to the same account) have activated their new cards.

Does the card PIN stay the same when I upgrade?

Upgrading your account does not affect your PIN. The PIN will remain the same and you can use it as soon as you activate your new card.

For more information about changing your PIN, see How do I change my Discovery Bank card's PIN?

What happens with payments linked to my card, such as DStv and Netflix subscriptions?

Because payments such as DStv, Apple Music, Netflix and Uber are linked to your card number, and not your account number, you will have to update your payment details with your new card information for any payments linked to a physical card. Simply visit the relevant app or website and update your card information there.

In future, rather link your online payments to our virtual cards which don't change when you upgrade your product or replace physical cards.

Single credit facility

What is a single credit facility?

When you apply for credit with Discovery Bank, you will get a single credit facility. This is one flexible credit limit that you can then share between your accounts, such as your Discovery Bank credit card or the overdraft facility on your Discovery Bank Transaction Account.

What are the benefits of having a single credit facility?

With a single credit facility, you only have one credit agreement and one interest rate, which means you only have to make one payment each month.

By not having to manage multiple credit accounts, interest rates and monthly payments, it makes managing your credit a lot simpler.

How do I pay my single credit facility?

If you have an outstanding balance on your Discovery Bank credit card or the overdraft facility on your Discovery Bank Transaction Account, you can pay your single credit facility in one of four ways:

  1. Depositing your salary into your Discovery Bank Card Account or Discovery Bank Transaction Account.
  2. Transferring money from a Discovery Bank savings account into your Discovery Bank Card Account or Discovery Bank Transaction Account.
  3. Setting up a debit order from another bank to automatically transfer funds to your Discovery Bank Card Account or Discovery Bank Transaction Account.
  4. Adding Discovery Bank as a beneficiary at another bank and manually paying money into your Discovery Bank Card Account or Discovery Bank Transaction Account.
How do I increase the overall limit on my single credit facility?

To apply for a credit limit increase, you must:

  1. Log in to the banking app.
  2. Select More at the bottom of the screen.
  3. Tap on Single credit facility.
  4. Tap Increase in the tile at the top and follow the steps.

Note: You can also shift your existing available credit between your transaction and credit card accounts linked to your single credit facility using the Discovery Bank app. For more information, see The single credit facility guide.

Can I allocate and adjust my credit between accounts?

Using your single credit facility, you can allocate a portion of your overall existing credit limit to each of your transaction and credit card accounts. You can view and adjust this allocation at any time on the Discovery Bank app.

Note: You can only transfer available credit between accounts - you cannot shift any credit that is already being used. The minimum amount of credit you need to have allocated to credit card accounts is R1 000. There is no minimum allocation required on transaction accounts.

How do I allocate and adjust my existing credit limits?

To shift your credit limits between accounts, you must:

  1. Log in to the banking app.
  2. Select More at the bottom of the screen.
  3. Tap Single credit facility and select Change.
  4. Select the accounts you want to transfer credit from and to, and enter the amount you want to transfer.
  5. Tap Update complete the update.

Note: You're not transferring actual funds between accounts, but rather adjusting the available amount of your overall single credit facility that each account can access. Credit allocations of your single credit facility do not impact daily and monthly spend limits. For more information, see The single credit facility guide.

What payments do not qualify for paying off the single credit facility?

The following deposits do not qualify as payments for paying off your single credit facility:

  • Rebates from reward programmes. For example, Vitality cash back and discounts (we deposit your Vitality cash back into your Vitality Saving Account)
  • Reimbursements from Dynamic Interest Rates
  • Point-of-sale refunds
  • Bank-initiated credit transactions (in cases where we credit your account)
  • Transfers from an account linked to your single credit facility (this includes your Discovery Bank Card Account and Discovery Bank Transaction Account).

Budget facility

What is a budget facility?

The budget feature on your Discovery Bank credit card is like having access to a loan if you need one. It gives you payment flexibility and options that are difficult to come by elsewhere.

What is the difference between straight and budget payments?

When you make a purchase with your Discovery Bank credit card, you may be asked whether you want to make a straight or budget purchase.

  • Straight means you intend to make minimum monthly payments of 5% of your outstanding debt. Remember, you will pay no interest if you settle within 55 days of making the purchase.
  • Budget means you decide how long you want to pay back the money. You get payment options over 6 to 60 months. Remember that your monthly payment will be less if you select a longer time to pay the money back but you will pay back more in interest in the long run.
When should I use my budget facility instead of my straight facility?

It makes more sense to use your budget facility when you are purchasing pricey products. For example, a fridge, expensive jewellery, or a living room set. While interest is applied right away, knowing exactly how much you must pay back on your budget facility makes it simpler to manage your monthly spending. However, it's important to try your best to pay off your debt as soon as possible.

Will Discovery Bank charge me if I pay off my budget facility sooner than expected?

There are no penalties if you decide to pay back the amount sooner. It's important to settle debt as soon as possible.

Switching your debit orders

How do I switch my debit orders to Discovery Bank?

You can switch qualifying Discovery debit orders (for example, debit orders for Discovery Life, Discovery Health, Discovery Insure, and Discovery Invest) using your banking app.

To switch non-Discovery debit orders to a new bank account, you can contact the relevant fund-collecting providers that you have active debit orders with and have them update your banking details on their system. If you're unsure about how to switch your debit orders, our helpful bankers can assist.

For more information see:

How do I switch my qualifying Discovery debit orders to Discovery Bank?

To switch your qualifying Discovery debit orders to Discovery Bank using the banking app, simply:

  1. Log in to the Discovery Bank app.
  2. Tap More on the home screen and select Debit orders.
  3. Tap Switch Discovery debit orders and follow the instructions.
How do I switch my non-Discovery debit orders to Discovery Bank?

To switch any debit order that is not a Discovery debit order to your new bank account, you can either:

  1. Contact the relevant fund-collecting providers that you have active debit orders with directly and have them update your banking details on their systems, or
  2. Contact Discovery Bank on 0800 07 96 97 to have one of our helpful bankers assist you.

Note: We'll need your permission to contact providers and arrange a debit order switch on your behalf. This means you'll have to complete a Authorisation for switching debit order to Discovery Bank form and send it to us. Some third-party providers may still ask you to contact them directly even though you've given a Discovery Banker permission to act on your behalf.

For more information, see:

  1. Where can I get the Authorisation for switching debit order to Discovery Bank form?
  2. How long does it take to switch my debit orders to Discovery Bank?
Can I switch my non-Discovery debit orders on the app?

Currently, you can only switch qualifying Discovery debit orders using the Discovery Bank app. We're in the process of building a digital solution for non-Discovery debit orders and we will let you know when its available.

Can Discovery Bank help me switch my non-Discovery debit orders?

Yes, our helpful bankers can help you through the debit order switching process. We'll need your permission to contact providers and arrange a debit order switch on your behalf. This means you'll need to complete a Authorisation for switching debit order to Discovery Bank form and send it to us.

Please note that some third-party providers may still ask you to contact them directly even though you've given a Discovery Banker permission to act on your behalf.

For more information, see:

Where can I get the Authorisation for switching debit order to Discovery Bank form?

You can download the Authorisation for switching debit order to Discovery Bank form here or request one by calling us on 0800 07 96 97. Our helpful bankers will happily answer any questions you may have about the process.

How long does it take to switch my debit orders to Discovery Bank?

Switching your debit orders using the Authorisation for switching debit order to Discovery Bank form option can take up to six weeks, but we try to complete the process faster. Alternatively, you try for a shorter turnaround time by contacting your providers directly to have them update your banking details.

Secured credit

What is secured credit from Discovery Bank?

Discovery Bank clients with a Black or Purple Suite can use their investments with Discovery Invest to get access to secured credit.

By using your Discovery investments as security, you may qualify for a significantly higher credit limit or possibly access credit you may not have qualified for through your unsecured (regular) credit facility.

You can access your secured credit through your single credit facility and allocate the available credit to any of your transaction or credit card accounts. Access these funds by:

  • Transferring or paying them out of a linked account, or
  • Using your Discovery Bank cards.

View the terms and conditions.

Who qualifies for secured credit from Discovery Bank?

Discovery Bank clients with a Black or Purple Suite who are Discovery Invest clients with qualifying investments of R500 000 or more can apply for secured credit.

Please note that if you already have a secured credit agreement in place with us, you can't submit additional applications.

How much secured credit can I qualify for?

You can apply for a secured single credit facility up to a maximum of 50% of the investment value across your qualifying Discovery Invest products. The minimum secured credit you can take out is R250 000 (investment value of R500 000), and the maximum is R5 million (investment value of R10 million). If you're approved for a secured credit facility, it will be added to your existing unsecured credit facility, if applicable.

How does my current credit limit affect how much secured credit I can qualify for?

The minimum secured credit you can take out is R250 000 (investment value of R500 000), and the maximum is R5 million (investment value of R10 million).

How will having secured debt with Discovery Bank affect my Vitality Money points?

If you have a secured credit facility with Discovery Bank, your entire Discovery Bank single credit facility will be excluded when calculating your Vitality Money points.

What happens to my investment?

When you use your Discovery investments as security, you cede the investment to Discovery Bank. While you can't withdraw funds from your investments until you settle any outstanding balance, you'll benefit from having access to secured credit without completely giving up your investments or paying penalties or taxes, and your investment continues to grow.

What happens to my unsecured credit and balances?

Your credit card and transaction accounts, which existed under your unsecured credit facility, will remain in place and continue to function as they usually do. These accounts don't close. All balances, interest, payment and billing dates will remain. When you get a secured credit facility, you will have access to a higher credit limit to use with those accounts.

How do I pay for the additional credit?

Regardless of whether your single credit facility is linked to secured or unsecured credit, it will work in the same way when it comes to monthly minimum repayments - a single contracted borrowing rate for both linked credit card and transaction accounts - and you'll enjoy Dynamic Interest Rates, which adjust based on your Vitality Money status.

Which products from Discovery Bank and Discovery Invest qualify for secured credit?

Discovery Bank clients with a Black or Purple Suite can use their investments with Discovery Invest to get access to secured credit.

Balances in the following Discovery Invest products qualify:

  • Endowment1
  • Classic Flexible Investment
  • Core Flexible Investment
  • Essential Flexible Investment
  • PrimeFlex
  • Guaranteed Income Plan2
  • Guaranteed Growth Plan
  • Discovery Retirement Optimiser - Endowment Version 11
  • Discovery Retirement Optimiser - Endowment Version 21
  • Discovery Retirement Optimiser - Endowment Version 31
  • Discovery Retirement Optimiser - Endowment Version 41
  • Standalone Discovery Retirement Optimiser - Endowment1

View your investment portfolio here.

1The investment policy is not eligible to be used for secured credit if it's less than five years old and you've made a partial withdrawal in this initial period. However, the investment is eligible if you've never made a partial withdrawal or if the investment is five years older or more.
2The investment policy is not eligible to be used for secured credit if it's less than five years old, regardless of whether you've ever made a partial withdrawal or not.

Which investments don't qualify for secured credit and why?

Retirement investments: We understand how important your retirement savings are, and we don't want to put you at any risk when it comes to your retirement savings or even accessing it early.

Post-retirement investments: We don't want you to bear any risk when you need to access post-retirement funds, especially if it negatively affects your retirement.

Offshore investments: We only offer credit in South Africa because there are global laws that we have to take into consideration when it comes to the international movement of funds. It also becomes riskier because of the mismatch of currencies, and we don't believe in exposing our clients to this risk on a lending product.

Tax-free investments: We understand how important your tax-free savings are for retirement given the limited lifetime allowance, and we don't want to bear any risk when it comes to accessing those funds early.

How do I apply for secured credit?

Existing Discovery Bank clients with a Discovery Bank Black or Purple Suite can apply for secured credit by completing the application, which needs your physical signature, and emailing it to us. You must:

  1. Download the Secured credit application here.
  2. Complete and print the document.
  3. Sign it in black or blue ink where necessary.
  4. Scan the document and email it to credit@discovery.bank.

When we approve your credit limit, we'll send your cession agreement, which needs your physical signature. You must:

  1. Complete and print the document.
  2. Sign it in black or blue ink where necessary.
  3. Scan the document and email it to credit@discovery.bank.

Once you send us your completed documents, we'll load your new credit limit within 72 hours.

Where can I see that my Discovery investments are ceded?

You can see which investments are being used for secured credit on the Discovery Bank app.

  1. Simply log in to the app.
  2. Scroll through your accounts on the home screen and select your Invest portfolio
  3. Tap on the Invest product(s) that you used to apply for secured credit.
  4. Look out for Cession type at the bottom of the screen. You'll see Collateral, listed under the heading, which means your investment has been ceded.
What are the fees and interest rates for using secured credit?
  • The documentation fee is R950, including VAT.
  • We will bill an account administration fee of R50 a month, including VAT, to your credit card account.

You pay these fees in addition to monthly account and other banking fees, including any credit and initiation fees that may apply.

Interest rates that apply, including Dynamic Interest Rates, remain in line with the current rates for the Discovery Bank Black and Purple Suite for unsecured credit. If you have a Discovery Bank Black Suite, that could mean a rate as low as prime -1%, and for clients on a Discovery Bank Purple Suite, as low as prime -2%, based on your Vitality Money status.

What happens to my secured credit facility if I want to reduce the balance in my Discovery Invest portfolio?

When applying for a secured credit facility, Discovery Bank takes full cession (control) of your selected Discovery investments. If you want us to remove the cession to have access to the funds, you need to settle the underlying debt in full.

What happens to my investments with Discovery Invest if I default on my secured credit facility?

Please see the terms and conditions for more information.

Submitting documents to Discovery Bank

How do I send Discovery Bank the documents they request?

Sending us your documents is easy. You can upload documents on the Discovery Bank app by using our real-time scanning feature or attaching your files, or you can simply upload them on online.discovery.bank

How do I upload documents on the Discovery Bank app?

To upload documents on the Discovery Bank app, simply:

  1. Log in to the banking app.
    • Once you've logged in, you'll be on the verification page that lists your outstanding documents.
  2. Where documents are required, tap Submit.
  3. Select the Document set you want to upload.
    • If you have the physical document, tap Scan.
    • If the document is on your cellphone, tap Add files.
  4. Tap Submit to complete the request.
How do I upload documents to the Discovery Bank website?

To upload your documents on the Discovery Bank website, simply:

  1. Log in to online.discovery.bank using your Discovery details.
    • Once you've logged in, you'll be on the Accounts page that lists your outstanding actions.
  2. Click on an Outstanding action and follow the instructions on the screen.
    • For address verification:
      • Click Edit if your address isn't correct.
      • Select the Document set you want to upload.
      • Click Add file to upload your document from your computer or device.
      • If the proof of address isn't in your name, click No and complete the details of the person whose name it is in and upload a copy of their ID.
      • If a document is rejected or the address is incorrect, please update the address and resubmit a new document.
      • After submitting the documents, you'll get a confirmation message.
    • For Income verification
      • Select the Document set you want to upload.
      • Click Add file to upload your document from your computer or device.
      • If a document is rejected, please resubmit a new document.
      • After submitting the documents, you'll see a confirmation message.

Note: After you've submitted all your documents on the web, please complete your application on the banking app.

Discovery Bank Fees

What are the monthly fees for a Discovery Bank account?

The monthly fees on your account depend on the type of account you choose, the colour of your account, and whether you opt to pay per transaction or go for a fee bundle.

See Fees guides

Transaction history, confirmation letters, statements and more

How do I download my account's transaction history?

To access the transaction history of any of your Discovery Bank accounts, you must:

  1. Log in to the banking app.
  2. Scroll through your accounts on the home screen and select the relevant account
    or
    Tap Accounts and select the relevant account.
  3. Tap on the top-right corner.
  4. Select Download transactions.
  5. Complete the date range and choose a file format.
  6. Tap Send.
Where can I find my account statements?

You can access all your Discovery Bank account statements on the banking app. Statements are loaded to your Discovery Bank app each month, and you will receive a notification when it is available.

To view, download or send a statement for any of your accounts, you must:

  1. Log in to the banking app.
  2. Tap on More on the bottom-right of the screen and choose Statements.
  3. Select an account and choose the month you need a statement for.
  4. If you need a certified copy of the statement, select on the top-right corner and tap Get a certified copy.
  5. Tap the share icon to choose whether you want to share, save or print your statement.
How do I get an account confirmation letter for my Discovery Bank account?

If you are a Discovery Bank client, you can get your certified account confirmation letters on the Discovery Bank app. All you have to do is:

  1. Log in to the banking app.
  2. Tap on More on the bottom-right of the screen and choose Other documents.
  3. Select Account Confirmation Letters and choose the relevant account.

If you have a Discovery Card that has moved to the Discovery Bank platform but you have not joined Discovery Bank yet, you can access account confirmation letters by logging in to the new-look Discovery Bank website using your existing login details. If you don't have login details, click on REGISTER and follow the prompts.

To access your account confirmation letters, simply:

  1. Log in to https://online.discovery.bank/login using your existing Discovery details.
  2. Find your account on the default ACCOUNTS page.
  3. Select Account confirmation letter in the tile of the account to download the letter.
How do I get a copy of my tax certificate?

You can access all your latest tax certificate from Discovery Bank on the banking app. Tax certificates are automatically loaded for you to access whenever you need to access it.

To view, download or send your latest tax certificate from Discovery Bank:

  1. Log in to the banking app.
  2. Tap on More on the bottom-right of the screen and choose Other documents.
  3. Select Certificates.
  4. Tap on Tax and select the certificate you want to view.
  5. Tap the share icon to choose whether you want to share, save or print your statement.
Where can I find a copy of my account opening letter, credit agreement letter and other letters sent to me by Discovery Bank?

You can access key letters sent to you by Discovery Bank on the banking app. To view, download or send these letters:

  1. Log in to the banking app.
  2. Tap on More on the bottom-right of the screen and choose Other documents.
  3. Select Letters.
  4. Select the letter you want to view.
  5. Tap the share icon to choose whether you want to share, save or print your statement.

Foreign nationals

Who is considered a foreign national?

A foreign national is anyone who isn't a South African citizen and doesn't have a permanent residence ID number issued in terms of the Immigration Act.

Can foreign nationals join Discovery Bank?

Yes, foreign nationals with a valid passport and a valid qualifying visa can apply to join Discovery Bank.

For now, Discovery Bank will only accept foreign nationals who already have a relationship with Discovery. They are:

  • Foreign nationals who have the Discovery Card from before we launched Discovery Bank.
  • Foreign nationals with an active medical aid policy administered by Discovery Health.
  • Foreign nationals with an active Discovery Life, Discovery Invest or Discovery Insure policy.
Which foreign national passports qualify foreign nationals to join Discovery Bank?

As a foreign national with a Discovery Card or a qualifying Discovery policy, your passport and qualifying resident visa must be valid for at least 12 months from the date you apply to join Discovery Bank. If you've already applied for a visa extension and you have the valid VFS (Visa Facilitation System) receipt, we can accept this until you get your visa.

We need proof of a foreign national's South African residential address for FICA (Financial Intelligence Centre Act) verification.

Why do my passport and visa have to be valid for at least 12 months?

As a foreign national with a Discovery Card or a qualifying Discovery policy, you need a valid passport and a valid qualifying visa to apply to join Discovery Bank to comply with the Financial Intelligence Centre Act (FICA). The Act compels us to repeat all the FICA verifications for foreign national clients every 12 months. That's why your passport and qualifying resident visa must be valid for at least 12 months from the date of your application.

If your passport expires within 12 months but you've applied for a visa extension and you have a valid VFS (Visa Facilitation System) receipt, we can accept this until you get your visa.

Which foreign national visas qualify for Discovery Bank credit products?

If you have the Discovery Card from before we launched Discovery Bank, you can apply for a Discovery Bank credit product if you have one of these visas with an expiry date more than 12 months from the date you apply:

  • General work visa
  • Critical skills work visa
  • Intra-company transfer work visa
  • Corporate visa
  • Retired person's visa
  • Spousal or life partner visa
  • Student visa
  • Visitor's visa section 11(6)
  • Permanent resident visa.

You can upgrade your card colour or change your product when you upgrade in the banking app, but your existing card limit will apply to the upgraded Discovery Bank product. If you have a resident permit that qualifies you for credit, you can apply for a credit limit increase afterwards.

If you don't qualify to upgrade to Discovery Bank, you can continue to use your existing Discovery Card.

If you have a qualifying Discovery policy, you can apply for a Discovery Bank credit product if you have one of these visas with an expiry date more than 12 months from the date you apply:

  • General work visa
  • Critical skills work visa
  • Intra-company transfer work visa
  • Corporate visa
  • Retired person's visa
  • Permanent resident visa.
Which foreign national visas qualify for Discovery Bank non-credit products?

If you have a qualifying Discovery policy, you can apply for a Discovery Bank non-credit product if you have one of these visas with an expiry date more than 12 months from the date you apply:

  • General work visa
  • Critical skills work visa
  • Intra-company transfer work visa
  • Corporate visa
  • Retired person's visa
  • Study visa
  • Spousal or life partner visa
  • Visitor's visa section 11(6)
  • Permanent resident visa.
Which foreign national visas don't qualify for applying to join Discovery Bank?
  • Business visa
  • Relative's visa
  • Exchange visa
  • Medical treatment visa
  • Visitor's visa
  • Treaty visa
  • Crew visa
  • Asylum transit visa.
As a foreign national, which documents must I have to join Discovery Bank?

All foreign nationals who apply to join Discovery Bank, whether you still have the Discovery Card from before we launched Discovery Bank or have a qualifying Discovery policy, must give us these documents:

  • Passport, valid for at least 12 months from the date you apply.
  • Qualifying resident visa, issued by the South African Department of Home Affairs, also valid for at least 12 months from the date you apply.
    • If you've applied for a visa extension, please provide your valid VFS (Visa Facilitation System) receipt, which we'll accept until you get your visa.
  • Proof of a South African residential address (like a rental agreement or utility bill).
    • If you apply for credit, you must give us proof of the sources of your income (like bank statements or salary slips). When you apply in the Discovery Bank app, you can save time and effort by allowing us to access your information through the integrated system managed by the banks in South Africa to get your information safely and securely directly from your bank.
Can I open Discovery Bank Forex Accounts as a foreign national?

Yes, foreign nationals who have successfully joined Discovery Bank can open forex accounts.

Can I get a Discovery Bank Home Loan as a foreign national?

No, unfortunately not yet. We hope to make Discovery Bank Home Loans available to foreign nationals in future.

As a foreign national, can I add another foreign national as a secondary cardholder on my Discovery Bank account?

No, for now you can't add a secondary cardholder who is a foreign national.

You may be able to in future, but unfortunately we can't say exactly when.

As a South African citizen, can I add a foreign national as a secondary cardholder on my Discovery Bank account?

No, for now you can't add a secondary cardholder who is a foreign national.

You may be able to in future, but unfortunately we can't say exactly when.

As a foreign national, why must I have a valid resident visa?

As a foreign national, you need a valid resident visa to comply with the Financial Intelligence Centre Act (FICA). Exchange control uses your valid resident visa and FICA declarations to classify you as a foreign national resident in South Africa.

If your visa expires, the classification immediately changes to "non-resident" and you can no longer use your Discovery Bank account like a resident.

The Department of Home Affairs uses resident visas to control and identify foreign nationals who overstay their visas or have expired visas. The department classifies them as foreign nationals who are in South Africa illegally.

As a foreign national, why do I have to agree that I won't place any foreign assets at the disposal of a third party that normally resides in South Africa?

This is a South African Reserve Bank (SARB) requirement.

As a foreign national, why is there a limit to the amount of money I can transfer out of South Africa?

The exchange control regulations of the South African Reserve Bank (SARB) and SARS (SA Revenue Services) apply to any money you send out of South Africa.

If you brought money into South Africa from elsewhere, you can feely transfer up to the same amount out of the country again. The regulation is that other amounts you transfer out of South Africa must be in line with the verified income information you gave us.

Discovery Bank allows you to transfer up to 60% of the gross income you declared. This is because you need 40% of the income you receive for local living costs.

If you think this is too restrictive, please email Finsurv-applications@discovery.bank with a full explanation of why you want us to increase the limit. The Discovery Bank Exchange Control team will consider your request.

As a foreign national, you don't qualify for a Foreign Investment Allowance (Capital Allowance) under SARB rules and SARS legislation.

 
 
 
 
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