How to Switch to Discovery Bank: Complete Guide
Switching banks sounds daunting, but Discovery Bank has made it straightforward. The entire process can be completed in two to four weeks with no disruption to your finances if you follow the right steps.
This guide walks you through every step, from opening your account to closing your old one, so nothing falls through the cracks.
Earn up to 5,000 Discovery Miles
Use this referral code when opening your account. You get up to 5,000 Discovery Miles for a Full Banking Suite, or 2,500 for a Credit Card Account.
DNJ001You must make a transaction using your virtual card or digital wallet within 30 days of opening your account to qualify. We also earn Discovery Miles from this referral. This does not affect our recommendations.
What to do before you switch
Spend 30 minutes preparing before you start. This avoids headaches later.
Gather your documents
SA ID, latest payslip or proof of income, and proof of address (utility bill or bank statement under 3 months old).
List all your debit orders
Check your last 3 months of bank statements. Write down every recurring payment: insurance, subscriptions, loan repayments, gym, school fees, etc.
Note your salary deposit details
You will need to update your employer with your new banking details. Find out who handles payroll changes at your company and what the process is.
Check for any pending transactions
Make sure there are no pending card authorisations or disputed transactions on your current account that could complicate the switch.
Download your old bank statements
Download at least 12 months of statements from your current bank for your records. You may lose easy access to these once you close the account.
Check your current bank's notice period
Some banks require 30 days' notice to close an account or waive final fees. Check your terms or call your bank to confirm.
Step-by-step switching process
Download the Discovery Bank app
Search for 'Discovery Bank' on the App Store (iOS) or Google Play Store (Android). Download the official app. It is free and required for all Discovery Bank services.
Open your Discovery Bank account
Follow the in-app sign-up process. You will need to verify your identity with a selfie, scan your ID, and upload proof of income and address. The full process takes about 10 minutes.
See full account opening guide →Enter referral code DNJ001
When prompted during sign-up, enter referral code DNJ001 to earn up to 5,000 Discovery Miles. The code cannot be added after sign-up, so do not skip this step.
Wait for approval
Most applications are approved within minutes. Discovery Bank runs a credit check and verifies your documents. In some cases it may take up to 24 hours. You will receive a notification once approved.
Set up your salary deposit
Contact your employer's payroll department and provide your new Discovery Bank account details. Most employers need your account number, branch code (679000 for all Discovery Bank accounts), and account type. Ask them to update from the next pay cycle.
Move your debit orders
Use the Discovery Bank app's built-in switching tool. Navigate to the 'Switch' section, and the app will help you identify and transfer existing debit orders. For debit orders that cannot be switched automatically, contact each company directly with your new account details. Prioritise insurance, loan repayments, and other critical payments first.
Update payment details with other services
Beyond debit orders, update your banking details with: your employer (salary), SARS (tax refunds), medical aid, insurance companies, online shopping accounts, subscription services, and anyone else who pays into or debits from your account.
Run both accounts in parallel for 1-2 months
Keep your old bank account open and funded with a small buffer (a few hundred rand) for at least one to two months. This catches any debit orders or payments you may have missed during the switch. Check both accounts weekly for any stray transactions.
Confirm everything has moved
After one to two months, review your old account statements. If no new debit orders or credits have appeared for a full month, all your payments have successfully moved to Discovery Bank.
Close your old bank account
Contact your old bank to formally close the account. Transfer any remaining balance to your Discovery Bank account first. Request written confirmation that the account is closed and that there are no outstanding fees. Keep this confirmation for your records.
Switching timeline: how long it takes
Open your Discovery Bank account and get approved (10 minutes to 24 hours).
Receive your physical card. Start using the virtual card and digital wallet immediately.
Submit salary change to employer. Start moving debit orders using the in-app switching tool.
Contact remaining service providers to update payment details. Set up new debit orders where needed.
First salary arrives in Discovery Bank account. Confirm all debit orders run successfully from the new account.
Monitor old account for stray transactions. Once clear for a full month, close the old account.
Ready to make the switch?
Open your Discovery Bank account with referral code DNJ001 and earn up to 5,000 Discovery Miles. The whole process starts in the app.
We earn Discovery Miles when you sign up with our code. This does not affect our recommendations.
Common mistakes to avoid when switching banks
Closing your old account too early
Missed debit orders, failed payments, and potential credit score damage.
How to avoid it: Keep your old account open for at least one to two months after switching. Only close it once zero transactions have processed for a full month.
Forgetting to update your employer
Your salary goes to your old account, and you have to manually transfer it each month.
How to avoid it: Submit your new banking details to payroll in the first week. Confirm the change date and check that the first payment lands correctly.
Missing annual or quarterly debit orders
Some payments only run every 3, 6, or 12 months and are easy to overlook when listing debit orders.
How to avoid it: Check 12 months of statements, not just 1 or 2. Look for annual insurance premiums, subscription renewals, and quarterly payments.
Not updating SARS banking details
Tax refunds go to your old closed account and get bounced, delaying your refund.
How to avoid it: Log into SARS eFiling and update your banking details before closing your old account.
Skipping the referral code during sign-up
You miss out on up to 5,000 free Discovery Miles. The code cannot be added after account creation.
How to avoid it: Enter referral code DNJ001 when prompted during the application. Do it at sign-up, not later.
Not making a transaction within 30 days
You forfeit your referral Discovery Miles even if you entered the code correctly.
How to avoid it: Make at least one card transaction (virtual card, Apple Pay, Google Pay, or physical card) within 30 days of opening your account.
Earn up to 5,000 Discovery Miles
Use this referral code when opening your account. You get up to 5,000 Discovery Miles for a Full Banking Suite, or 2,500 for a Credit Card Account.
DNJ001You must make a transaction using your virtual card or digital wallet within 30 days of opening your account to qualify. We also earn Discovery Miles from this referral. This does not affect our recommendations.
Frequently Asked Questions
Start your switch today
Use referral code DNJ001 when you open your Discovery Bank account. You will earn up to 5,000 Discovery Miles, and the switching tools in the app will guide you through the rest.
We earn Discovery Miles when you sign up with our code. This does not affect our recommendations.