Discovery Bank Account

[Spreadsheet Ranger]

Discovery has launched a bank! 

#Discoverybank - available to the public March 2019.

What is interesting is that black bank depositors will own up to 10% of the bank collectively. It's to help previously disadvantaged individuals get in early on a South African bank. 

[SaurusDNA]

Will it be listed separately or does it fall under DSY?

[Spreadsheet Ranger]

Maybe @SimonPB will know more.

[LentilSoup]

Open for beta users I think: https://www.discovery.co.za/bank/join-discovery-bank 

[Spreadsheet Ranger]

I like what they are trying to create here, it really feels like they want to encourage people to save money and not spent money (eBucks encourages spending and debt).

I base this off the following article: https://www.businessinsider.co.za/discovery-bank-launch-promises-first-behavioural-bank-2018-11 if that is the case then I might just support this bank to the fullest. 

[Bandit]

Now, if FNB doesn't penalise me via my home loan interest rate for moving my salary deposit to another bank and Discovery doesn't get weird with Vitality requiring a blood test to get a better interest rate, then I might move banks after being with FNB for years.

 

But we'll wait and see...

[JamesYellen]

 I wish this would be a separate division. That black only scheme is going to cause turmoil.

I can completely imagine white discovery insurance holders and businesses pulling their accounts as protest/spite/fck u to bee/insert reason.

[Bandit]

All the other banks breathed a sigh of relief. Apparently whites hold all the money in SA and after that I'm sure most won't rush to open an account.

 

Funny thing though: there is white outrage (and f*cking rightly so) on Twitter but I do not see blacks taking joy in it or slamming the whites for being "racist" etc.

 

Anyway, I just finished moving my life insurance to them not too long ago but in the past I've felt like moving my medical aid away from them. Won't do any knee jerk reaction but the case for exploring alternatives is much stronger than before where Discovery was seen as the defacto standard. Deep inside me I feel "filthy" knowing I'm helping to fund a company with racist policies - whether those policies come from a place of them trying to do something good or just a political cheapshot (bets on getting more black customers and get the whites anyway despite their outrage).