Steps to Open a Discovery Bank Account

Open Discovery Bank Account

Discovery Limited is a prominent South African financial institution and a leading provider of financial services like Savings accounts, credit cards, digital banking, and Insurance. With the largest asset base in Africa, it stands as the continent’s foremost lending institution. The company’s corporate headquarters, Discovery Bank Centre, is situated in Sandton, Gauteng, South Africa.

They have the largest nationwide network of Discovery Bank branches and offer an array of accounts ranging from basic accounts to premium ones. To save for the future, customers across the country have the option of opening a Discovery Bank Account. The savings accounts offered by the Bank come with the comfort of online banking facilities and free phone and mobile banking facilities.

Eligibility Criteria to Open Discovery Bank Savings Account

To be eligible to open a savings account in Discovery Bank, customers need to meet certain criteria.

  • Should be a citizen of South Africa.
  • The applicant should be 18 years and above to be eligible. In the case of minors, the parents or legal guardians of the minor can open the account on their behalf.
  • The applicant is required to have a valid identity and address proof that is government-approved.
  • Once the application is verified by the bank, the applicant will have to make an initial deposit – depending on the minimum balance requirement of that particular savings account he/she has chosen.

Why Choose a Savings Bank Account?

Through its network of branches in South Africa and overseas, Discovery Bank provides a range of financial products including the Savings Account. The savings account has a variety of benefits and services. The most attractive features are that the savings account does not require a minimum balance and provides an Automated Teller Machine (ATM)/Debit card, net banking, credit card, and mobile banking facilities.

Key Benefits of Discovery Bank Savings Account

The following are the key benefits of the savings account: 

  • Internet Banking, Mobile Banking, Cellphone Banking
  • Transfer accounts to any Discovery Bank Branch without changing the account number
  • Multicity cheques
  • Safe Deposit lockers
  • Nomination facility
  • Personal Accident Insurance and travel insurance are available at a nominal premium
  • Multiple variants of ATM/Debit Cards, International ATM/Debit Cards, etc.

Additional Benefits

Here are some of the additional benefits of a Discovery Bank savings account: 

  • Mobile Banking provides a host of services like funds transfers, interbank mobile payment services, enquiry and Discovery Bank statements, chequebook requests, utility bill payments, mobile recharges, and M-Commerce.
  • Some of the facilities of Discovery Bank Net Banking are opening and closing fixed deposits and transferring funds paying utility bills, online shopping, viewing statements and Demat operations, and setting standing instructions.
  • The Debit card can be used for balance enquiry, withdrawing money, paying insurance premiums, shopping, donations, and card-to-card transfers.

How To Open an Online Discovery Bank Account?

Follow the steps mentioned below to open a savings account online at Discovery Bank: 

  1. Visit the official website of Discovery Bank (
  2. Under the ‘Accounts’ section, Tap on the ‘Savings Account’ option. 
  3. Tap on the ‘Apply’ option.  
  4. Enter the requested details such as your name, date of birth, address, etc., in the application form.  
  5. Click on the ‘Submit’ option.  
  6. Once this process is finished, go to the branch with the necessary documentation. 
  7. Discovery Bank will initiate the verification process and activate your account within three to five business days.

Steps to Open an Account in Discovery Bank Offline

To open a Bank account at any nearest Discovery Bank branch, customers will have to follow the steps mentioned below:

  • Step 1: Visit the nearest branch of Discovery Bank. 
  • Step 2: Ask for a form to open a savings account.  
  • Step 3: Fill out the form according to the specifications. 
  • Step 4: Enter all the requested information and submit it along with relevant documents.  
  • Step 5: Deposit a minimum amount of R1,000. 
  • Step 6: Take your free passbook and chequebook once the process is completed.

Open an Account with the Discovery Banking App

  • Download the Discovery Mobile Banking App
  • Choose the account you would like to open
  • Tell us who you are
  • To keep you safe, we will verify your cell phone number
  • Take a selfie, and we will do facial matching with the Department of Home Affairs to confirm you are who you say you are
  • Tell us where you live
  • Let us know what you do for a living and your income
  • Click Apply.

This is another way Discovery Bank is finding innovative ways of doing business with our customers in mind. That is Africanacity, that is Bank.

Discovery Bank Account Helpline

For any help, grievance, or request related to the Bank account, customers can contact the helpline at – 0800 07 96 97011 324 4444 or email us at:

FAQs on Steps to Open Discovery Bank Account

Can foreigners open a Discovery Bank account?

Foreign national clients cannot join Discovery Bank yet.

What is the Discovery savings account interest rate and fee?

Earn a base rate of 5.75% which you can boost up to 7.25% based on your Vitality Money status and Discovery Bank products you have. No monthly fee; Pay only for your day-to-day transactions.

Editorial Note: The information presented in this article is not provided by Discovery Bank. I’ve crafted this article to aid Bank customers in an educational capacity. It’s important to note that the Bank does not endorse or validate the content. For precise and current information about the bank’s products and services, readers should consult the official website.


Hello friends, my name is RK Singh, and I am an engineer. But by profession, I am a blogger. My main goal in starting this blog is to solve the difficulties people face in using online banking, bank branch codes, debit cards, and credit cards. I am not affiliated with any bank or company. I try my best to give the correct information to the people so that they can achieve their goals in the right way.

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