TymeBank wins on zero fees and potentially higher GoalSave interest. Discovery wins on rewards depth, ecosystem integration, and overall banking functionality.
TymeBank is South Africa's most disruptive bank — completely free with a surprisingly high GoalSave interest rate (up to 9% p.a. on the first R100,000). If you purely want free banking and great savings rates, TymeBank is hard to argue against. However, Discovery's integrated health-banking ecosystem, investment access via EasyEquities, and significantly deeper rewards programme give it a clear edge for those who want to maximise financial benefits. Discovery fees can also drop to R0 at Diamond Vitality status — levelling the playing field on cost.
| Feature | Discovery Bank | TymeBank |
|---|---|---|
| Monthly account feeTymeBank is completely free — no monthly fee ever. | R115 to R495Up to 75% discount — R0 at Diamond Vitality | R0 (always free) |
| Card swipe / tap fee | Included in bundle or R1.30 | Free |
| ATM withdrawal (own) | R4.00 to R8.50 | R4.00 (TymeBank ATM / Pick n Pay till)Free cash-out at checkout at Pick n Pay & Boxer |
| ATM withdrawal (other banks) | R8.00 to R14.00 | R9.00 |
| EFT payment | Included in bundle | Free |
| Immediate payment | R10.00 | R8.00 |
| Minimum monthly fee (best case) | R0 with Diamond Vitality Money | R0 (always) |
| Feature | Discovery Bank | TymeBank |
|---|---|---|
| On-demand / easy-access savings rate | Up to 7.35% p.a.Increases with Vitality Money status | Up to 9% p.a. (GoalSave)Up to R100,000; drops to 7% above R100k; saving goal required |
| Transaction account interest | Up to 6.5% on cheque balance | None |
| Interest tied to behaviour / status? | Yes — Vitality Money status | No |
| Fixed deposit rate | Up to 9.5% p.a. | Up to 9.0% p.a. (GoalSave extended) |
| Feature | Discovery Bank | TymeBank |
|---|---|---|
| Rewards programme | Discovery Miles + Vitality Money | ChangeUp (points at Pick n Pay & Boxer) |
| Max cashback on spend | Up to 20% at Discovery partners | Up to 5% at Pick n Pay & BoxerVia ChangeUp points |
| Fee discounts | Up to 75% via Vitality Money | N/A (already free) |
| Health-linked rewards | Yes — Vitality | No |
| Travel perks | Lounge access (Black/Purple cards) | None |
| Credit card | Yes — Miles earning | No traditional credit cardMoreTyme buy-now-pay-later option only |
| Feature | Discovery Bank | TymeBank |
|---|---|---|
| Physical access points | Digital only | 600+ Pick n Pay & Boxer kiosks |
| Credit card | Yes — full credit card | MoreTyme (BNPL) only |
| Investment access | EasyEquities integration | No |
| Insurance products | Full ecosystem (health, life, insure) | Limited |
| Business banking | Limited | TymeBank Business Account |
| App rating (App Store) | 4.7 / 5 | 4.5 / 5 |
| USSD / feature phone banking | Yes | Yes (broader coverage) |
Use referral code HDQ001 when you sign up. Earn up to 5,000 Discovery Miles after your first qualifying transaction.
We earn Discovery Miles when you use our code. This does not affect our recommendations.