Discovery Bank - Account closure chaos

I want to share my experience with Discovery Bank so that other young professionals think twice before signing up.

This is now the second instance of incompetence in 6 months (the first was a straightforward tax-free savings transfer that was extremely delayed because nobody seemed to know what to do).

I am now trying to close my bank account, and it has proven to be extremely difficult, if not impossible. Discovery Bank is severing any chance of me ever returning as a client.

Timeline of account closure: 4 Sept 2025: I initiated my account closure. I was told this would take 8 working days. 9 Sept 2025: Discovery Bank issued me a settlement letter, stating I had to pay R10.63 before 12 Sept for it to be final and binding, and they froze all accounts. I immediately made an instant EFT of R10.63 to settle everything in full, exactly as instructed and confirmed by two different bankers telephonically. 25 Sept 2025: Having received no confirmation of closure, I followed up, expecting a closure confirmation letter. 26 Sept 2025: Instead of receiving confirmation, I was issued a new settlement letter with additional fees (about R220). This is despite the fact that I had already adhered to the first binding settlement agreement paying it in full. I reject this second settlement as absolutely unreasonable.

This is unacceptable, unprofessional, and unjust. A bank cannot change the terms of a settlement after a client has already comp****, and then add further charges.

Based on past experience, I suspect I will once again receive an automated response rather than an informed resolution from someone who has actually read and understood the issue.

Discovery Bank markets itself as a bank for young professionals, but my experience has been inefficiency, incompetence, and endless frustration. This latest incident only confirms that closing my account was the right decision.

I strongly advise others to think twice before entrusting Discovery Bank with their finances.