Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
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Discovery is apparently preparing to launch a banking service in 2018 and while nobody knows when that will be exactly, it is expected in the first half of the year. It will be interesting to see what services they bring to the market and how they compete, but I am sure, like most things Discovery is involved with, it will be a success.
FNB recently launched a new single account for most of its customers in their private client/private wealth section which they call FNB Fusion and what FNB Fusion allows is for people to have a single credit limit across their credit card and their overdraft – so it does not really matter where you use it, it can extend across all of them. At the moment, it is quite difficult for clients of banks, because often you will have one limit on your credit card, another limit on your overdraft and yet another on your mortgage bond and so you can access credit in about three different places, but obviously putting all of them together is far better. The 55 days interest free is going to be turned into a 30 day interest free credit and it also means that for FNB clients they will in future only have one bank card and not three different cards and to remember three different pin numbers, etc.
It will be interesting to see what products or innovations Discovery bring to the banking market in an effort to get clients.
Posted by Michael de Broglio on Thursday 06-Jul-17
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Comments
Cornelie said:
on Tuesday 01-Aug-17 09:31 AM
I'm with FNB and I have never had any issues with them I like all the services they offer, I'm always scared to change banks as you won’t know what they will offer you and like now Discovery how long will they last.
Prishani said:
on Monday 31-Jul-17 05:10 PM
There is always room for improvement in the banking industry. People and businesses are always looking for ways the make this task easier! The public just want faster service and everything online. If they can do this and come up with exciting new products and apps. I am sure they will be a success!
Sinead said:
on Monday 31-Jul-17 03:37 PM
Very interesting to see that Discovery has now thought of this clever idea to get more of our money. I would like to see there would be an increase in medical aid members as well. Or if only there existing members would open bank accounts with them... Hmmmmm...
Thabitha said:
on Wednesday 26-Jul-17 03:30 PM
I am sure they are going to start by marketing their client to use their bank in that way I see quick grow to Discovery bank.
melindi said:
on Friday 21-Jul-17 08:42 AM
Discovery is definitely the most well known medical aid provider in the country, with their great coverage and discounted flight and gym benefits. Although I don't think I would personally use them as a banking service.
brumilde said:
on Wednesday 19-Jul-17 10:06 AM
Discovery is taking over SA, maybe they can buy SA, oh wait, no that wont work, the medical is very expensive, so im sure they will start with lots of ooh no bank fees but then later nail you in the bum
Lourien said:
on Monday 17-Jul-17 04:59 PM
Discovery is busy taking over a huge sector in the market, its not only just a medical scheme but they are also expanding more and more doing insurance plans, credit and the list goes on... and I am sure they will definitely try Banking as well. The best thing of being on Discovery is that they have so many benefits.
Dune said:
on Friday 14-Jul-17 08:18 AM
I currently bank with FNB, and I have never had a problem with their service. However should Discovery open a banking service then i might think not twice converting to Discovery. We just moved our insurance over to Discovery and we are on Discovery medical aid. They have so many benefits with all of their products, and their service is excellent.
Liesl said:
on Thursday 13-Jul-17 09:05 AM
Discovery keeps coming up with new ways to get richer, when they entered the market as a medical aid they came in as a superior option in comparison to other medical aids but I have heard of so many people complaining that their medical aid with Discovery depletes very quickly despite their monthly premium being very high
Jolene said:
on Wednesday 12-Jul-17 03:30 PM
Well done to Discovery, they have been very successful so far and I’m sure they will be successful in the banking industry. It will be interesting to see what they have to offer.
Zindy said:
on Wednesday 12-Jul-17 09:33 AM
That's very interesting, I don't think I would use them personally but Good luck to them.
Melissa van Tellingen said:
on Wednesday 12-Jul-17 08:28 AM
Discovery is well known and I'm sure they will make a success of it. Especially is they have as much people interested in the bank as in their medical aids. Will be interesting to see what they offer and what makes them different from the other banks.
Ashleigh said:
on Tuesday 11-Jul-17 09:04 AM
Lets see what discovery has to offer their clients. I hope its nothing like their expensive medical aid schemes!
Brenda Du Toit said:
on Tuesday 11-Jul-17 08:50 AM
This is quite interesting,I am sure this will also work out well. i'll will stick with Nedbank.
Tamaryn said:
on Monday 10-Jul-17 09:38 AM
Discovery will become the next big empire- it concerns me that they may take their monopoly further which will eventually impact on healthy competition. If you are with Discovery for your medical aid, insurance, banking and whatever else it makes it difficult to take one aspect elsewhere should you be dissatisfied with a service.
Bianca R said:
on Monday 10-Jul-17 07:40 AM
Discovery is an extremely successful and well-known company, I believe that they will make a great success if they are going to venture into banking. The bonus is that they already have an incredible name for themselves and the trust of a lot of customers, so I do imagine that they won't find it difficult to build a client base. Discovery already have a foot in the door with their credit cards and they have yet to fault in that department.
Nicky said:
on Friday 07-Jul-17 04:17 PM
I am very pleased to hear that there will be a new competitor in the banking industry. Hopefully this will push all existing banks to improve their services and provide more and better service to keep their current clients from moving over to Discovery.
Michelle said:
on Friday 07-Jul-17 07:50 AM
Discovery make a success in everything they do. But it’s so much effort to change banks. Therefor I will rather stay with FNB as I'm very happy with them anyway. Discovery is a little bit more expensive but you get great service with them in return. I look forward to see what they will offer as bank.
Joyce said:
on Thursday 06-Jul-17 05:01 PM
I think Discovery do all what it takes to succeed, think will do well in banking market as well
Jadine Richards said:
on Thursday 06-Jul-17 03:58 PM
This is brilliant! Trust Discovery to be the innovator as usual. I would definitely go with them!!!!!!
Daniella said:
on Thursday 06-Jul-17 11:17 AM
Discovery is a well established Company. I think they will definitely be successful. But I personally wouldn't want to be on 'Discovery bank'. I'm very comfortable with FNB.
Sarah said:
on Thursday 06-Jul-17 11:11 AM
It is quite interesting to see how Discovery is growing with in different trades. Lets see how its goes
Henrietta said:
on Thursday 06-Jul-17 10:11 AM
Wow this is quite interesting, I agree with David, seems like they want to be jack of all trades, insurance, medical aid, the credit cards and now banking service. Discovery have been successful so far. So it seems in my opinion they might be successful with the banking service. Only time will tell.
Nina said:
on Thursday 06-Jul-17 09:45 AM
Discovery is really expanding and it is quite interesting to hear about this. Will be interesting to see if it is a sucess or not. But seeing that they have been successful on every other level, I am sure this will also work out well.
Clare said:
on Thursday 06-Jul-17 09:17 AM
This is quite interesting but I am a Standard Bank Girl been since I was 18 years old so I am will stick to the bank I know. Discovery is doing a lot of trades I see. Well Good for them, the positive is that this will create more Jobs I hope for the banks.
Jessica Apfel said:
on Thursday 06-Jul-17 09:15 AM
I am sure that Discovery will be 'healthy' competition within the banking sector - and with certain banks currently being assessed by the Compeition Commission for collusion within the Banking Sector, more people may be inclined to switch! They are certainly entering the market at an opportune time. They do already offer Credit Card facilities - my partner makes use of it - and it is an effecient and user friendly service.
Jadine E said:
on Thursday 06-Jul-17 09:11 AM
Now that is going to be interesting. Not really impressed by discovery
David said:
on Thursday 06-Jul-17 09:11 AM
medical aid, investments, car insurance and now a bank.
seems like they want to be jacks of all trades - any way they can to get money out of you.
no thanks, i'll stick with Nedbank.
Alexis said:
on Thursday 06-Jul-17 08:47 AM
Would be quite interesting to see what they offer as a bank. Do not thin k I would change though in any event
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
