Overall, Bankmed offers 6 medical aid plans (Essential, Basic, Core Saver, Traditional, Comprehensive, and Plus) starting from R893 per month. Additionally, Bankmed offers 24/7 emergency support. Gap Cover available optional extra.
Bankmed is a closed scheme and not available to members of the public.
| 🔎 Medical Aid | 🥇 Bankmed |
| 📌 Registration Number | 1279 |
| 📍 Number of Plans | 6 |
| 📱 Mobile App | ✅ Yes |
| ✔️ Chronic Illness Benefits | ✅ Yes |
| 🔎 Medical Aid | 🥇 Bankmed |
| 🌎 Headquartered | Gauteng, South Africa |
| 📌 Registration Number | 1279 |
| 1️⃣ The average number of members | 110,000+ (Principal members plus their beneficiaries) |
| 📈 Number of Markets | 1 – South Africa |
| 👥 Number of Employees | 201- 500 |
| 📉 GCR Rating | AA+ |
| 📊 Listed on the JSE | ❎ No |
| 📍 JSE Stock Symbol | None |
| 📌 The most recent Market Cap reported | None |
| 💯 Average Customer Rating | 3.5 |
| ✔️ Average Number of Reviews | 2,000+ |
| 🚩 Market Share | <1% |
| Number of plans offered | 6 |
| 🚑 Number of Hospitals in Network | 200+ |
| 🏠 Home care provided | ✅ Yes |
| 📱 Mobile App | LinkedIn |
| 📖 Bankmed Magazine for clients | ☑️ Yes |
| 💻 Medical Claims Portal | ✅ Yes |
| 🤝 Customer Support | Monday to Friday, 8 am to 8 pm Saturdays – 8 am to 1 pm |
| 😷 Information Hub for COVID-19 | Yes |
| ⚕️ Chronic Illness Benefits | ✅ Yes |
| ⚠️ Number of PMB Diagnoses | 270 |
| ➡️ Number of PMB Chronic Conditions | 27 21 Additional conditions covered on Traditional, Comprehensive and Plus plans |
| 📌 Screening and Prevention | ☑️ Yes |
| 📍 Maternity Benefit | ✅ Yes |
| 💵 Medical Aid Contribution Range (ZAR) | 893 – 9,644 ZAR |
| ✋ Average Waiting Period | Three months – depending on terms |
| ❌ Late-joiner penalties charged | ☑️ Yes, this could apply |
| 🌐 International Medical Cover | PMB’s and life threatening events only |
| 🗺️ International Travel Benefit (ZAR) | PMB’s and life threatening events only |
Bankmed offers 6 Plans to choose from including Essential, Basic, Core Saver, Traditional, Comprehensive, and Plus.
| 🔎 Plan | 💵 Contributions Range (Main) | 💴 Contributions Range (+ Adult) | 💶 Contributions Range (+ Child) | 💷 Medical Savings (Up to) |
| 📌 Essential | 893 – 1,714 ZAR | 801 – 1,545 ZAR | 224 – 433 ZAR | None |
| 📍 Basic | 1,497 – 2,878 ZAR | 1,119 – 2,157 ZAR | 377 – 721 ZAR | None |
| 🏅 Core Saver | 2,447 – 3,683 ZAR | 1,843 – 2,756 ZAR | 614 – 926 ZAR | 247 – 369 ZAR (Main) 186 – 278 ZAR (Adult) 62 -92 ZAR (Child) |
| 🥉 Traditional | 4,096 – 4,968 ZAR | 3,067 – 3,731 ZAR | 1,023 – 1,244 ZAR | None |
| 🥈 Comprehensive | 5,436 – 5,661 ZAR | 4,071 – 4,243 ZAR | 1,367 – 1,417 ZAR | 817 – 851 ZAR (Main) 611 – 638 ZAR (Adult) 206 – 213 ZAR (Child) |
| 🥇 Plus | 9,644 ZAR | 7,221 ZAR | 2,414 ZAR | 1,931 ZAR (Main) 1,445 ZAR (Adult) 483 ZAR (Child) |
A lean, low-cost Plan with benefits limited to Prescribed Minimum
Benefits (PMBs) only available through the Bankmed GP Entry Plan
Network.
A wide range of Primary Care benefits (including non-Prescribed
Minimum Benefits) available through the Bankmed GP Entry Plan Network.
Hospital Plan with a MSA component for day-to-day expenses.
A Network Plan with a wide range of benefits with annual sub-limits
for day-to-day expenses.
A comprehensive range of benefits paid from both Insured and MSA
for out-of-hospital cover.
Top of the range Plan with a Medical Savings Account (MSA) and an
Above Threshold Benefit (ATB) (a safety net) for when your funds in your
MSA are exhausted.
Choosing to use Bankmed includes a number of benefits including:
And much, much more!
The Council for Medical Schemes regulates Bankmed Medical Scheme. The Council governs South Africa’s medical plan business for Medical Schemes (CMS), a regulating body set up under the Medical Schemes Act, No. 131 of 1998 (the Act).
The CMS is responsible for a range of tasks related to the oversight of medical insurance plans, such as:
Furthermore, if a medical scheme is found to violate the law, the CMS has the authority to issue administrative fines and penalties.
Take Note: Subject to Specific Plan and Scheme Rules
Bankmed covers a range of procedures and conditions and Bankmed’s plans feature several benefits, including:
Bankmed Wellness and Preventative Care Benefits include the following:
READ more about GEMS Medical Aid Scheme
The Bankmed HIV /AIDS Program includes the following benefits:
Bankmed Pregnancy and Childbirth benefits include:
READ more about Hospital Plans for your baby
Bankmed Emergency Services offers real-time emergency care for all members 24 hours a day, seven days a week for any emergency calls. Bankmed will pay in full if :
If a patient is diagnosed with cancer and their cancer treatment is approved, they will have access to coverage through the Oncology Programme. Treatment covered include:
Bankmed offers three plans that offer Medical Savings Accounts, namely:
| 🔎 Income Bracket | 💵 Main Member Savings | 💶 Adult Dependent Savings | 💷 Child Dependent Savings |
| <R5,000 | R247 | R186 | R62 |
| R5,001 – R6,000 | R263 | R199 | R64 |
| R6,001 – R7,000 | R282 | R212 | R73 |
| R7,001 – R8,000 | R297 | R224 | R76 |
| R8,001 – R9,000 | R321 | R240 | R81 |
| R9,001 – R10,000 | R336 | R251 | R83 |
| >R10,000 | R369 | R278 | R92 |
| 🔎 Income Bracket | 💴 Main Member Savings | 💵 Adult Dependent Savings | 💶 Child Dependent Savings |
| R0 – R10,000 | R817 | R611 | R206 |
| >R10,000 | R851 | R638 | R213 |
| 🔎 Income Bracket | 💴 Main Member Savings | 💵 Adult Dependent Savings | 💶 Child Dependent Savings |
| All | R1,931 | R1,445 | R483 |
Note that Bankmed is a closed scheme and not available to the general public.
To apply for Medical Aid through Bankmed, the applicant can follow this short walkthrough –
1. ✅ Step 1: Start the Bankmed Medical Aid Registration
2. ✅ Step 2: Register on the Bankmed website, download, and print the application form.
3. ✅ Step 3: Complete the Bankmed Registration
Complete the Bankmed Registration form by providing relevant information under these sections:
Claims can be submitted via email, Website, and App. Members can submit a claim to [email protected]. or log into the website using your credentials and Select “Submit a claim” on the Claims page.
Bankmed requires information about the treatment or medication for which you submit a claim.
Compliments can be sent to Bankmed via telephone, email, live chat, fax, or post. In terms of complaints, the following process must be followed:
| 🔎 Close Scheme | 🥇 Bankmed (2026) | 🥉 POLMED (2025) |
| ⏰ Years in Operation | Since 1914 | 42 Years |
| 🤝 Average # Members | 110,000+ | 200,000+ |
| 📊 GCR Rating | AA+ | AA |
| 👥 Number of Employees | 200+ | 100+ |
| 📈 Market Share | <1% | <10% |
| 📉 Market Coverage | South Africa | South Africa |
| 📌 Customer Rating | 3.5 | 3 |
| 📍 Number of reviews | 2,000+ | 200+ |
| 📱 Mobile App | Yes | Yes |
| 💵 Contribution Range (ZAR) | 893 – 9,644 ZAR | 474 – 3,961 ZAR |
| 🌎 International Travel Benefit (ZAR) | Depending on scheme rules, members must pay providers and claim back. PMB’s and life threatening events. Consider purchasing comprehensive travel insurance before travelling abroad as not all foreign claims may receive full coverage | No |
Impressive Service.
I recently reached out to Bankmed regarding a partially paid claim and was impressed by the level of service provided by the consultant. They were both friendly and highly efficient in resolving my inquiry.
It is always a positive experience to encounter a representative who goes above and beyond their duties to provide excellent customer service. – Maizie Prince
Excellent Support.
I recently had the pleasure of contacting Bankmed for assistance with a Plan change and was thoroughly impressed by the friendly and efficient service provided. My new Plan was explained in detail, the pricing was communicated, and the process was smoothly completed.
I was contacted the following day to confirm that my request had been satisfactorily addressed and to inquire about my overall well-being. This level of exceptional service is truly commendable. – Harriet Long
Happy Member.
I would like to extend my sincerest admiration to the Bankmed Enquiries Team. Having dealt with numerous customer service departments, I can attest that many have been inadequate.
However, the Bankmed Team consistently exceeds my expectations and provides a level of customer service that is truly remarkable. – Joanne Nicholson
💙 Bankmed is a closed medical scheme in South Africa. It provides comprehensive medical cover to their members, including inpatient and outpatient treatments, preventive care, and various wellness benefits.
💙 Bankmed members have access to a large network of healthcare providers, a range of customizable plans to suit individual needs, and access to the Bankmed Balance Rewards Program.
| ✅ Pros | ❎ Cons |
| Access to quality medical care and treatment | The cost of premium can be expensive, especially for comprehensive medical cover |
| Coverage for medical expenses that may not be covered by other forms of insurance | Limited coverage for certain treatments or procedures |
| Option to choose a plan that best suits individual needs and budget | Sub-limits on certain benefits |
| Peace of mind in the event of a medical emergency or chronic illness | Complex terms and conditions that may be difficult to understand for some members |
Overall, Bankmed is a good medical scheme offered to employees working in the Banking Sector of South Africa.
Bankmed and the Discovery Health Medical Scheme are two entirely separate medical schemes. Bankmed is completely independent of Discovery Health Medical Scheme. Bankmed is a closed scheme not available to the general public. Discovery Health Medical Scheme is an open medical scheme and available to all members of public.
Bankmed is a closed medical scheme that is owned by its members. However, Discovery Health (Pty) Ltd, a subsidiary of Discovery Limited, administers Bankmed.
Anyone working for a business with a contract with Bankmed can become a member. If you join Bankmed on your first day of work or the first of the month after you start working, you will be eligible for benefits as of the date you joined.
You can access your Bankmed tax certificate by logging into the website, going to the Tax Certificate section, and downloading/printing your certificate.
You can call Bankmed to obtain authorization for procedures. Alternatively, you can email them, complete the online form, or visit a Bankmed office.
Bankmed has a hospital network consisting of 212 service providers.
The Bankmed contact details can be found on the Bankmed website. Typically, this information is readily available on the “Contact Us” or “Customer Service” section of the website.
Bankmed operates from Monday to Friday, 8 am to 8 pm, and Saturdays from 8 am to 1 pm.
You can visit the Bankmed website, select “Plan Options” from the menu, and click on the “2026 Benefit and Contribution Schedule” link to view the Bankmed plans and prices.
Membership is open to all individuals employed by a Bankmed-contracted employer.
The members of your immediate family who may qualify as dependents are as follows – A spouse or partner.
Members can downgrade a Bankmed plan by contacting the provider online or via email, fax, phone, and post.
If you want to add a child or adult dependent, you can log into your Bankmed profile and Download and print the Bankmed “Application to add dependent/s 2026” from the website.
Adriaan holds an MBA and specializes in medical aid research. With his commitment to perfection, he ensures the accuracy of all data presented on medicalaid.com every three months. When he is not conducting research, Adriaan can be found indulging in his passion for trout fishing amidst nature.
You might also like
Free Medical Aid Quote
We work with leading medical aid companies in South Africa.
🔎 Report a bug or outdated data to be updated to [email protected]
Authorised financial service provided by Hippo Comparative Services (Pty) Ltd.
FSP number: 16357
© Medicalaid.com | All rights Reserved |
Copyright 2025 / 2026
Top 5 Medical Aids
Top 5 Gap Cover Plans
In the Media
Your compare list
Back
