Discovery Limited SA : Swift And Branch Codes

Discovery Limited SA : Swift And Branch Codes

Discovery Limited SA is a South Africa-based financial services group that is listed on the Johannesburg Stock Exchange with its headquarters in Sandton. Discovery Limited engages in long and short-term insurance, asset management, savings, investment and employee benefits through its various brands. The Group has subsidiaries in South Africa, the United Kingdom, the United States, China, Singapore, and Australia.

Breif History About Discovery Limited

Discovery Limited was founded in 1992 by Adrian Gore. In the same year, RMB Holdings (RMBH) acquired a stake in the business by making Discovery Limited its subsidiary through Momentum Group (now part of MMI Holdings Limited). In 1998, the Momentum Group became part of First Rand after the merger of the financial services interests of Anglo American Corporation of South Africa Limited (now Anglo American plc) and RMBH to achieve the objective of a unified financial services grouping. With First Rand Group owning 75 percent of Discovery Limited.

Discovery Limited was successfully listed on the JSE in October 1999 through a successful initial public offering. During the year, First Rand Group reduced its stake in Discovery Limited to 64 percent. In 2003, Momentum Group Limited transferred its investment in Discovery Limited to FirstRand Limited for R740 million. In November 2007, FirstRand unbundled all of its entire shareholding in Discovery Limited and allotted the shares of Discovery Limited to its shareholders. This led to RMBH receiving a 25 percent direct stake in Discovery Limited, making it the single largest shareholder.

Universal Branch Code for Discovery Limited South Africa

The Discovery Limited universal code is 679 000 and is used by all of its branches to carry out transactions regardless of the branch where the customer opened the account. The introduction of the universal code is considered a user-friendly move because it makes transactions easier and faster for customers using the online banking platform. With this code, customers are not mandated to have the various branch codes before a transaction can be approved. The use of this code has also reduced the mistakes of wrong transactions.

Discovery Limited South Africa Swift Code

Below is a table showing Discovery Limited branch code, BIC analysis & SWIFT code, Discovery Limited bank address, and Discovery Limited branches contacts.

Discovery Limited	Details
Universal Branch Code	679 000
Routing Number*
SWIFT Code	DISCZAJJ
Bank Address	Discovery Group Headquarters: 1 Discovery Place, Sandton, 2196
Registered Address	Discovery Group Headquarters: 1 Discovery Place, Sandton, 2196
Email Address	principalofficer@discovery.co.za
City	Sandton,Johannesburg
Bank Telephone	0800 07 96 97

What Are The Uses Of Discovery Limited South Africa Universal Branch Code

• Discovery Limited universal branch code is used to curb financial fraud and banking risks locally and internationally.
• The South African Reserve Bank can use it to track any transactions or find the bank and branch that authorized certain transactions.
• It is also useful in tracking international transactions to protect the global economy. Excess fraudulent activities within various South African banks are capable of causing a downslope to the country’s economy. With the universal code, this will be caught before it happens.

Discovery Limited Branch Codes

A branch code is a unique identifying code for a given branch of a bank. Each branch of a bank is differentiated by its branch code. These branch codes are known by various different names across the globe.

Differences Between A Universal Branch Code and The Branch Code

The two are used for similar occasions but at different levels…Thus All branches can use the universal branch code to carry out transactions regardless of their location. Where as Branch code is used for internal transactions within a particular branch.

Full List Of Discovery Limited Branch Codes In South Africa

Discovery Limited	Details
Universal Branch Code	679 000

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