Rakuten Bank vs Discovery Bank.
Rakuten Bank (R77/100) and Discovery Bank (D45/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Rakuten Bank leads Discovery Bank 5-1.
| D Discovery Bank №81 · SARB 45 /100 | R Rakuten Bank №13 · JFSA 77 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 45 /100 | 77 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €95 /mo | €0 Free tier |
| FX markup Debit card abroad | 1.50% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Payment inst. SARB | Full bank JFSA |
| Deposit guarantee Per depositor | Safeguarded ZA.CODI | €10,000,000 JP.DICJ |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | Yes |
| UX | ||
| Trustpilot Customer score | — | — |
| App store iOS + Android avg | 4.5 ★ iOS 4.6 · And 4.4 | 4.3 ★ iOS 4.4 · And 4.2 |
| Read review → | Read review → | |
Pick Discovery Bank if…
Premium ZA digital-first bank backed by JSE-listed Discovery Group. SARB full-bank licence since 2019. Vitality Money behavioural-banking model — your rates and rewards rise with healthy financial behaviour, integrated with Discovery Health/Life. CODI cover. The only ZA digital bank with a serious premium-tier offering (Black tier with metal card, lounges, Vitality Travel).
Pick Rakuten Bank if…
Largest Japanese internet-only bank by customer count (~14M+) and the only TSE Prime-listed pure-play net bank (TYO: 5838, IPO 21 April 2023 — the largest Japanese IPO in five years at the time). Originally chartered as eBank in 2001; acquired by Rakuten Group (TYO: 4755) in 2009. Structural moat is the Rakuten Points + Rakuten Card + Rakuten Securities + Rakuten Mobile + Rakuten Ichiba ecosystem — points cross-pollinate across the entire surface area. Full FSA Banking Act licence; statutory DICJ member at the JPY 10,000,000 ceiling.
- Best for fees Rakuten Bank won 2 of 4
- Best for protection Rakuten Bank won 2 of 2
- Best for reach Tied
- Best for ux Discovery Bank won 1 of 2
Rakuten Bank vs Discovery Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Discovery Bank better than Rakuten Bank?
Under our v3 methodology, Rakuten Bank leads Discovery Bank 5–1 across 12 dimensions. Composite scores: Discovery Bank 45/100 vs Rakuten Bank 77/100. Rakuten Bank is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Discovery Bank or Rakuten Bank cheaper?
Monthly fee — Discovery Bank: €95; Rakuten Bank: €0. Card FX markup — Discovery Bank: 1.50%; Rakuten Bank: Interbank. Rakuten Bank wins more fee rows (2 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Discovery Bank or Rakuten Bank?
Discovery Bank holds a Payment inst. licence under SARB; deposit guarantee per depositor: Safeguarded. Rakuten Bank holds a Full bank licence under JFSA; deposit guarantee per depositor: €10,000,000. Rakuten Bank is the stronger pick on regulatory protection.
Where can I use Discovery Bank and Rakuten Bank?
Discovery Bank operates in 1 country; Rakuten Bank operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
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