Investec Launches Private Bank Account

Investec offer a fresh approach to private banking and have today announced the launch of a new Private bank account, for professionals.

The account prides itself on unparalleled levels of service and personal attention, giving clients exclusive access to the full suite of Investec’s private banking products in response to a growing consumer demand for simple but hard-working private banking solutions.

Existing Investec clients have been able to make use of this account and it’s now available to new clients. They can expect; competitive interest rates, overdraft facilities, alongside exceptional personal service and no hidden charges – all while being part of Investec’s prestigious private banking service.

Transparency is one of the Investec Private bank accounts key attributes; consumers won’t be charged anything over and above the monthly £10 fee for everyday items such as CHAPS payments, stopping cheques, duplicate statements, electronic transfers, or banker’s drafts. There are also no renewal, arrangement or usage charges for overdrafts, providing clarity around a sometimes complex and expensive overdraft usage.

The account offers clients exceptional international benefits when travelling abroad, including no hidden charges for international payments or ATM cash withdrawals. In addition, the currency conversion fee is capped at just 2% for both withdrawals and spending on the Investec card.

The Private Bank offers a foreign exchange service which provides direct contact to a foreign exchange expert, access to preferential exchange rates as well as same day settlements for USD, EUR and GBP payments. In-line with the Private bank account emphasis on transparency, any foreign exchange payments into or out of the account are fee-free, making this the perfect account for regular travellers, international clients, or those needing to move money between different currencies, e.g. paying for a home abroad.

The Private bank account pays interest at 0.25% AER* variable on the entire balance and, it will keep paying interest on the money spent on the Investec card right up to the next statement date. This means that account holders could benefit from up to 30 days’ interest every single month. Account holders can also apply to add an overdraft to their Private bank account at a competitive interest rate of 8% variable plus the Bank of England base rate.

Matthew Cavalier, Head of Accounts and Services, comments “This is the first time that an account like this has been available to professionals earning £75,000 a year or more. With other private bank accounts, a six figure salary is often needed in order to get access to private banking features such as the ones that are offered with the Investec Private bank account.”

Investec’s Private bank account also prides itself on reliable and personal customer service. A dedicated team are available 24 hours a day, seven days a week and 365 days a year and are empowered to help clients. There is also access to intuitive online and mobile banking to make managing finances effortless.

Private bank account clients can expect full access to a diverse range of Private Banking services such as mortgages, wealth and investment, offshore banking and savings and cash investments.