Discovery Bank clients can now trade shares through the app

Hylton Kallner

Discovery Bank has partnered with EasyEquities to offer its clients share trading through the Discovery Bank app.

Discovery launched Discovery Bank on 14 November 2018 as the world’s first digital behavioural banking platform.

The bank incentivises its clients to make healthier financial decisions and work more responsibly with their finances.

EasyEquities was created four years earlier. It is a product of First World Trader, which forms part of Purple Group.

EasyEquities’ strategy to make it easy for South Africans to invest helped it to sign up 1.6 million clients over the last eight years.

The platform’s patented fractional share rights (FSR) model allows investors to buy and sell small portions of equities traded on stock exchanges.

The two companies have partnered to make it easy for Discovery Bank to open an EasyEquities account or link an existing one through the Discovery Bank app.

After opening an EasyEquities account, they can buy, hold, and sell shares on local and international stock exchanges and access ETFs, ETNs, and cryptocurrency.

The integration between Discovery Bank and EasyEquities is seamless. Clients can transfer funds between the two platforms in real-time, at no cost and with no lock-up periods.

There are no minimum investment amounts and no monthly trading account fees.

The EasyEquities investment portfolios also integrate into Discovery Bank’s Vitality Money programme, automatically counting towards the client’s Vitality Money status.

Discovery Bank CEO Hylton Kallner said the platform is transparent, easy to use, and makes equity trading cost-effective.

“The introduction of share trading with EasyEquities is consistent with our focus on helping our clients manage their money well over the long-term,” said Kallner.