How Vitality Money and boosted Vitality rewards work

Unsure how Discovery Bank will help you manage your money better, what Vitality Money is, and how it all fits together? Here’s a summary.

For starters, you don’t need to have any other Discovery products (like health, life or short-term insurance) to be a Discovery Bank client (although you can enjoy more rewards if you do – but more about that later). Discovery Bank clients (over 18 and with an account other than a savings account) enjoy access to Vitality Money, a behavioural change programme that encourages and rewards healthy financial behaviour.

Certain financial behaviours play a large part in determining your financial health. Discovery Bank will assess your financial health and reward you with Vitality Money points for healthy behaviours. The five key areas we’ll focus on are saving better, managing debt, paying off property, ensuring financial security through insurance, and planning for retirement.

Improve these 5 behaviours to increase your Vitality Money status

Together, how you manage these five aspects form your Vitality Money status. Your status is holistic, so it’s not just about how much you earn or spend. It’s about the big picture – a healthy financial future and learning the habits that will get you there. Importantly, you don’t need to earn more money to get more points - you’ll improve your status just by learning and practicing the healthier financial habits we guide you to.

Remember, being properly informed can make or break your financial success. That’s why Discovery Bank is partnering with Worth to bring you valuable financial education courses at a reduced cost. Discovery Bank clients will be able to sign up for these courses online or in the app, and get a little more help making your money work for you. Look out for more details on this in the near future.

Savvy money management means a higher status and bigger rewards

Your Vitality Money points determine your status i.e. Blue, Bronze, Silver, Gold or Diamond. The better you manage your money (like saving regularly, insuring your assets and putting money aside for retirement), the higher you’ll climb on the status ladder. And the higher your Vitality Money status, the bigger your rewards.

What rewards? Healthy banking offers you these unique and exciting rewards:

1. Dynamic Interest Rates: Benefit from lower interest rates that flex monthly based on your money decisions (reflected in your Vitality Money status) - so you can get higher interest rates on savings and lower interest rates on credit
2. Dynamic Discounts: Our bank rewards are immediate and tangible, and are all designed so you can do more with your money. You’ll have the opportunity to boost your discounts and cash backs up to 100% on a gym membership, up to 75% off flights and up to 75% back on HealthyFood - and enjoy seeing your savings grow as all this cash back is paid into your Vitality Savings Account.
3. Vitality Active Rewards: Earn more rewards when you spend responsibly, and hit your weekly Active Reward goals.

Our partners for boosted Vitality rewards

Get even more out at our wide range of Vitality partners – from fuel, sports gear and personal care to healthy food and flights - there’s something for everyone:

Vitality Money empowers you to make changes that work for you and rewards you along the way. And if you’re already good at managing your money, we’ll help you take it to the next level.

Disclaimer: This article is meant only as information and should not be taken as financial advice. For tailored financial advice, please contact your financial adviser. Discovery Bank Limited is an authorised financial services and registered credit provider. Registration number 2015/408745/06.