Discovery Gold Account is a transactional account for people earning less than R350,000.00 per year. The monthly account fee for the PAYU option is R10.00, and the bundled option is R110.00.
The Discovery Gold Account includes the Vitality Money premium membership, which costs R10.00 per month for the PAYU account. Holders of Discovery Vitality Money Accounts can earn up to 10% cash back in the form of Discovery Miles points.
Discovery Miles is a reward program that gives cash back in the form of points when you use your Discovery Gold account. Account holders receive a 15% discount when purchasing airtime, shopping on Vitality Mall, or shopping at over 40 Discovery retail partners when they use their Discovery Miles.
On positive balances, the Discovery Gold Account earns up to 4% interest. Account holders can open a savings account and earn up to 5.25% interest on their savings.
Aside from savings and discounts, the Discovery Gold Account offers a variety of exciting features and benefits. These benefits are discussed further below.
Fee Description | Amount |
---|---|
Monthly Account Fee | R10.00 |
Monthly Vitality Money Premium | R10.00 |
Additional Virtual Card Fee | Free |
Monthly Additional Transaction Accounts | R10.00 |
ATM cash withdrawal | R5.00 + 2.25% of withdrawal amount |
International ATM cash withdrawal | R80.00 |
Local Point Of Sale cash withdrawal | R2.00 |
Debit order fee | R3.75 |
Digital payments | R2.50 |
Instant payments for amounts above R1,000.00 | R5.00 + 0.50% (max R25.00) |
Contact Payments | Free |
Prepaid Products and Services Purchases | Free |
Payment Notification Fee | Free |
Currency Conversion Fee | 2.75% |
Card Replacement Fee | One free then R200.00 each afterwards |
Applications are processed and completed within 5 minutes on the Discovery banking app or their website.
Vitality Money is a rewards program that promotes responsible financial management. Spending, debt, investments, savings, and insurance products are all tracked by the rewards program.
Discovery Gold Account holders can get up to 75% cash back on purchases by managing debt, saving a certain amount of money, and purchasing various types of insurance products.
Vitality Money keeps track of the following:
Account holders must manage the above-mentioned key financial points in order to receive the highest discounts and cash back.
South Africans have always struggled with saving and proper debt management, Discovery’s approach to reward healthy financial management will assist in improving the way people relate to money. The Discovery Gold account is one of the best entry level accounts as it comes with many discounts and rewards. Moreover, the account is easy to maintain with a monthly account fee of R10.00 for a PAYU option.
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