Open an account at Investec Bank. As of 17.02.2025 you have access to bank account options. Simplify your finances by choosing the best account for your needs today.
Update 04.11.2024
Investec Bank provides a range of accounts tailored for both everyday banking and long-term financial goals, catering specifically to high-net-worth clients. The Private Bank Account combines transactional ease with personalized Private Banking support, while savings and offshore accounts offer competitive interest and flexible access options. With offerings like fixed-term deposits and multi-currency offshore accounts, Investec delivers a comprehensive, globally-focused banking experience designed for clients who value convenience, flexibility, and personalized service.
Types of Accounts Offered by Investec
Checking Accounts
Private Bank Account. An all-in-one account designed for high-net-worth clients, combining transactional banking with a Visa Platinum credit card and dedicated Private Banking support, with benefits such as travel insurance, exclusive rewards, and personal assistance.
Voyage Account. A premium current account for high earners, offering exclusive benefits and privileges, including travel insurance, airport lounge access, and fraud protection through text alerts.
Non-Resident Account. A current account for clients residing outside South Africa, designed to comply with exchange control regulations and facilitate international transactions.
Youth Account. Available for clients under 25 who are children of Private Bank Account holders, offering a Visa debit card, a linked Prim.
Savings Accounts
Online Flexi Saver. An instant access savings account offering competitive interest rates with no restrictions on deposits or withdrawals.
90-Day Notice Saver. A savings account with higher interest rates requires a 90-day notice for withdrawals, making it suitable for planned, longer-term savings.
Fixed Rate Saver. A fixed-term deposit account with a guaranteed interest rate for the chosen term, is ideal for clients who can lock in funds to maximize returns.
PrimeSaver Account. Linked to the Youth Account, offering prime-linked interest with instant access to funds, designed to encourage savings for young clients.
Tax-Free Fixed Deposit Account. A 12-month deposit account allows for tax-free interest up to limits set by South African regulations, supporting long-term, tax-efficient savings.
Offshore Bank Accounts
UK Private Bank Account. A sterling-based account designed for South African clients who spend time in the UK, with features like a Visa debit card, UK ATM access, and online management.
Channel Islands Bank Account. Offshore banking is available in the Channel Islands, providing international clients with access to diversified banking services.
Horizon Account. A 90-day notice account is available in multiple currencies, offering competitive interest rates and flexibility for international savings.
Direct Reserve Account. A 32-day notice account in various currencies, providing tiered interest and catering to clients seeking international savings options.
Fixed-Term Deposit Account (Offshore). A fixed-term account with a guaranteed interest rate in various currencies, is suitable for clients aiming to protect their returns from currency fluctuations.
Business and Specialty Accounts
Private Business Account. Designed for business clients, offering comprehensive transaction services, including online payments, international transactions, and business-focused support.
Trust Account. A specialized account for managing trust funds, offering cash-backed guarantees, competitive interest on balances, and compliance with trust management standards.
Electronic Only (EO) Account. For clients living abroad, providing online-only access without a physical card, yet offering secure online and app-based management.
Foreign Currency and Treasury Accounts
Currency Access Account. An account that allows holding funds in multiple currencies, facilitating foreign exchange and international transactions.
Foreign Currency Call Account. Available in currencies like USD, GBP, and EUR, this account allows for holding and transacting in foreign currency without a monthly fee, with funds available immediately for online payments.
Treasury and Foreign Exchange Services. Provides access to global FX and interest rate markets, ideal for clients involved in cross-border transactions and currency management.
Key Features
Daily Account Access. Investec provides seamless access to accounts via online and mobile platforms, enabling clients to manage their funds and make transactions anytime.
High Interest on Savings. Select savings accounts offer competitive, tiered interest rates, allowing clients to grow their balances over time.
Unlimited Electronic Transfers. Most Investec accounts offer unlimited electronic transfers, making fund movement convenient and fee-free for users.
Customized Interest Rates. Clients can choose between fixed or variable rates for certain accounts, allowing flexibility to align with their financial strategy.
Multi-Currency Options. Accounts such as the Foreign Currency Call Account allow clients to hold multiple currencies, catering to those with international financial needs.
Security Features. Investec’s digital banking includes fraud protection and secure login features, ensuring client accounts are safeguarded against unauthorized access.
Linked Youth Accounts. Clients with children under 25 can open Youth Accounts linked to their own, providing financial access and education for younger family members.
Pros and Cons
Pros
Dedicated Private Banking Support. Investec clients have access to dedicated Private Bankers who offer tailored guidance and support, making banking more personalized and accessible.
Exclusive Account Options. With accounts like the Voyage Account and Offshore Bank Accounts, Investec provides unique options that cater to high-net-worth individuals and those with international needs.
Comprehensive Wealth Management Services. Investec combines banking with investment and wealth management services, offering clients a one-stop solution for sophisticated financial planning.
Cons
High Entry Requirements. Investec accounts are generally tailored for high-net-worth clients, with strict income and qualification criteria that may limit accessibility for the average user.
Monthly Fees on Certain Accounts. Some accounts, such as the Private Bank Account, include monthly service fees, which may be a drawback for clients seeking fee-free banking.
Limited Branch Presence. Investec’s focus on digital and remote banking means there are fewer physical branches, which may be inconvenient for clients who prefer in-person services.
How to Apply for Investic Bank Account?
Online. To apply online, visit the Investec website, navigate to "Individuals," select "What we offer," then "Private Banking," and click "Tailor my Solution" followed by "Get Started." Complete the pre-application form by providing details on employment, income, and assets. Clients under 30 need an annual income of at least R600,000, while those over 30 require R800,000 or significant assets. Once eligible, fill in personal information, upload necessary documents (e.g., ID, proof of income, bank statements), and submit. Foreign nationals must include a residency or work permit. Upon approval, a representative will contact you to confirm activation and discuss next steps.
At the Bank's Office. If you prefer in-person assistance, use the Investec website to locate the nearest branch. Gather your required documents, including identification, proof of residence, proof of income, and, if relevant, a residency or work permit. Visit the branch during business hours, where a consultant will review your qualifications, ensuring you meet the eligibility criteria based on your age and income. After confirming eligibility, the consultant will assist with completing the application, help you select the best account option, and set up online banking access.
Requirements and Conditions
Requirements
Identification. A valid South African ID is required for citizens, while non-residents need to provide a passport along with a valid residency or work permit.
Proof of Income. Applicants must provide proof of income, including recent payslips or bank statements showing at least three months of transactions, to verify financial stability.
Age Requirement. Applicants must be at least 18 years old to open an account, with additional qualifications based on age and income.
Minimum Income Requirement. For individuals under 30, a minimum annual income of R600,000 is required. For those aged 30 and above, the minimum annual income is R800,000 or significant assets under management.
Proof of Residence. Applicants must present proof of residence, such as a recent utility bill or bank statement not older than three months.
Conditions
Monthly Fees. Certain Investec accounts carry a monthly fee ranging from R215 to R635, depending on the specific account type and services offered. For example, the Private Bank Platinum Account has a monthly fee of R635, which includes services like access to a Visa Platinum card, personalized banking support, and exclusive client benefits.
Interest Rates. Accounts like the 90-Day Notice Saver offer competitive, tiered interest rates, while fixed-term savings accounts provide a set rate throughout the deposit period.
Minimum Deposit. Fixed-term deposit accounts require a minimum deposit of R100,000, allowing clients to secure their funds and earn interest over a specified period. Exact deposit terms and interest rates are provided during account setup, depending on the chosen product and duration.
Withdrawal Restrictions. Notice accounts require advance notice (e.g., 32 or 90 days) for withdrawals, while fixed-term deposits are locked for the specified term without early access.
Currency Options. Offshore accounts offer multi-currency options, allowing clients to hold balances in GBP, USD, EUR, and more, which are ideal for international transactions.
Early Settlement on Loans. Investec allows clients to settle loans early without penalty, enabling flexibility in managing loan repayments.
Personalized Financial Support. Account holders have access to dedicated Private Bankers who provide tailored advice and assistance for managing their accounts, investments, and transactions.
Things to Pay Attention To
Selecting the Right Account Type. Investec offers various accounts, each tailored to different financial needs. High-net-worth individuals or clients with international needs may find the Private Bank or offshore accounts most suitable, while younger clients may benefit from the Youth Account’s linked benefits.
Maximizing Interest on Savings. To make the most of competitive interest rates, consider fixed-term deposits if you can commit funds long-term, or notice saver accounts for flexible savings with a higher return. Matching account terms to your savings goals can help optimize returns.
Evaluating Fee Structures. Monthly fees vary by account, so choose an option that aligns with how frequently you plan to use banking services. For instance, if you travel often, an account with travel benefits like the Voyage Account could offer better value despite a higher monthly fee.
Using Multi-Currency Accounts. If you have international financial needs, offshore accounts in multiple currencies can streamline transactions and protect against currency fluctuations. Investec’s foreign currency accounts provide flexibility, especially for those dealing frequently in GBP, USD, or EUR.
Leveraging Private Banking Support. Investec’s Private Banking service offers personal financial advice and wealth management support. Clients who need in-depth financial planning or investment guidance can benefit from this service to better manage assets and long-term goals.
Considering Qualification Requirements. Ensure you meet Investec’s qualification criteria, such as income or asset thresholds, which vary by age. This is essential to access Investec’s premium services, especially for Private Bank or international account options.
Editorial Opinion
Investec offers a premium banking experience tailored for high-net-worth clients, combining everyday banking with global access and investment-focused savings options. With a range of accounts from Private Banking to multi-currency offshore accounts, Investec emphasizes flexibility and competitive interest rates on notice and fixed-term deposits. Clients benefit from personalized Private Banker support, ideal for those with specific financial goals. However, the bank’s exclusivity requirements and monthly fees may not suit those seeking low-cost banking solutions.
What types of benefits come with Investec’s Visa Platinum card, and how can clients maximize these perks?
The Investec Visa Platinum card offers benefits such as travel insurance, access to exclusive airport lounges, and fraud protection alerts. Clients can maximize these perks by using the card for international travel and purchases, which may unlock additional loyalty points or insurance coverage options. For specific details on rewards or services, clients should consult their Private Banker or review their cardholder benefits document.
Does Investec offer any financial planning tools or resources directly within its online banking platform?
Yes, Investec’s online banking platform provides various tools and resources to support financial planning. These tools include budgeting, goal tracking, and access to personalized investment insights through the Private Banking service. This platform is designed to help clients actively manage their financial goals alongside routine banking.
Can Investec accounts be used to facilitate large international transactions or investments abroad?
Investec accounts, particularly offshore and multi-currency options, are structured to handle international transactions efficiently. Clients with Private Banking services can also receive assistance with cross-border payments, investment transfers, and currency hedging, which are facilitated through Investec’s foreign exchange and treasury services.
Are there any rewards or loyalty programs associated with Investec accounts?
Yes, Investec offers rewards programs for certain accounts, like the Voyage Account, which provides loyalty points for spending. These points can often be redeemed for travel, lifestyle, or financial benefits, adding value to client spending and enhancing their banking experience.
How can clients securely access their accounts while traveling abroad?
Investec’s online and mobile banking platforms are optimized for secure access from anywhere, and clients are encouraged to enable multi-factor authentication (MFA) to safeguard their accounts. Additionally, Investec offers fraud monitoring and text alerts to quickly notify clients of suspicious activity, providing extra security when banking internationally.