Just two years after its official launch, Discovery Bank has hit the 1 million accounts milestone, with more than 450,000 clients, more than R11-billion in deposits and R4.5-billion in credit advances.
Discovery’s study also showed that bank charges amount to, on average, between 0.3% and 0.6% of people’s salaries. Following the spectacular collapse of Kulula recently, Discovery Bank has partnered with SAA and CemAir, and also offers discounted flights via Safair, Airlink and Lift. Narsai says the bank has no plans to introduce a loyalty programme because loyalty programmes add costs, which customers “definitely end up paying for”.
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