Best private banking account

zerocool2009 said:
I see a lot of you guys are with Investec. What is a good interest rate in your eyes if you have a bond with them ?
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It varies, usually prime (- something)... nice thing is, you usually get a good rate on all loans, e.g. my vehicle is prime -1%
 
JimmyRott said:
The huge benefit for me in switching to Investec is the fact that my private banker is about a million times better than anyone I have ever dealt with at FNB. You also never get asked to go into an office, if some documents need to be signed the banker comes to meet you at a time and place convenient for you. I have yet to meet my banker, and have opened the account from overseas (I am working internationally until early next year). I have my banker on whatsapp and it takes him on average probably 2 minutes to reply and then probably another half hour to come back to me with feedback/solutions to my queries. The experience between the two has been chalk and cheese for me.
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I had the same with my FNB PW banker. He asked me to come to him for documents, I laughed at him and said no that's not things work. Next day he was at my office delivering the documents himself.

The FNB guys like to tell you that they are office bound, but they really aren't.
 
whatwhat said:
I had the same with my FNB PW banker. He asked me to come to him for documents, I laughed at him and said no that's not things work. Next day he was at my office delivering the documents himself.

The FNB guys like to tell you that they are office bound, but they really aren't.
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I went from platinum at fnb to Investec, so not really comparing apples with apples. But I joined fnb when they still gave private bankers to platinum clients. My guy was useless, and the team they replaced him with was even worse.
 
JimmyRott said:
I went from platinum at fnb to Investec, so not really comparing apples with apples. But I joined fnb when they still gave private bankers to platinum clients. My guy was useless, and the team they replaced him with was even worse.
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I have been with FNB since I was 6 years old (my mom worked there as HR manager). It is bittersweet for me but their online banking is backwards and the call center personnel are dripping with snarky attitudes so I think I will leave them and go over to Investec...
 
Just joined Investec
No comparison.
Better interest rates (-1 on home loan), one facility for everything, remote banking.
 
And cash withdrawals? I still need some cash in this day and age
 
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Qualifying criteria for private bank account at investec? Monthly bank costs?

In my opinion investec cannot be that good if the above isn't easily available on their website.
 
ambroseg1 said:
Qualifying criteria for private bank account at investec? Monthly bank costs?

In my opinion investec cannot be that good if the above isn't easily available on their website.
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Or maybe they hide it a bit on purpose to not come across as too elitist.
 
Speedster said:
Or maybe they hide it a bit on purpose to not come across as too elitist.
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Wat? Showing a customer clearly beforehand what a service costs and and other related information to the service is elitist?
 
ambroseg1 said:
Silly me. I looked under the private banking pages. You have found the charges. Now the qualifying criteria please. I do not possess the skills to find it.
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It was under private banking? :confused: investec.co.za -> individual -> banking -> private bank account (click) -> scroll to the bottom of the page -> rates and charges (click) ... two clicks!

Anyway...the qualifying requirements vary depending on profession, but bargain on around R750k
 
xrapidx said:
It was under private banking? :confused: investec.co.za -> individual -> banking -> private bank account (click) -> scroll to the bottom of the page -> rates and charges (click) ... two clicks!

Anyway...the qualifying requirements vary depending on profession, but bargain on around R750k
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Much appreciated. I must be honest I expect at least the monthly service charge to appear on the page itself along with qualifying criteria as this is what I get from Standard Bank. My thinking is, if a crappy bank like Standard can do it, surely the Rolls Royce service of banks should have it like that. And the fact that the qualifying criteria isn't there is extremely poor in my opinion.
 
ambroseg1 said:
Much appreciated. I must be honest I expect at least the monthly service charge to appear on the page itself along with qualifying criteria as this is what I get from Standard Bank. My thinking is, if a crappy bank like Standard can do it, surely the Rolls Royce service of banks should have it like that. And the fact that the qualifying criteria isn't there is extremely poor in my opinion.
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They assess on a potential client by client basis to determine if one will be likely to generate sufficient business in the future to bring on as a client.

So one could qualify by qualification, income level, asset base etc.
 
mjwitter said:
They assess on a potential client by client basis to determine if one will be likely to generate sufficient business in the future to bring on as a client.

So one could qualify by qualification, income level, asset base etc.
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So why not state that? Instead they expect me as a potential client to go in, apply and potentially be turned away? Yeah. Will get right on it.
 
ambroseg1 said:
So why not state that? Instead they expect me as a potential client to go in, apply and potentially be turned away? Yeah. Will get right on it.
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Fill in the online form...they'll phone, if you potentially qualify, they'll come out and see.

This isn't Standard Bank, etc who try and sell it as a status symbol.

NarrowBandFtw said:
Three pages on the best private bank and not one reply saying it isn't worth the fees rather go with Capitec?!? ... :whistle:
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I'd like to see Capitec finance my assets at these interest rates... bring me forex... bring documents to me... etc...etc
 
xrapidx said:
I'd like to see Capitec finance my assets at these interest rates... bring me forex... bring documents to me... etc...etc
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Well it would depend on what assets you're referring to, but my bond is financed by Nedbank at prime -1.05% (somebody earlier was happy with -1% from Investec) and the car is now paid (and of course not an asset) but BMW Finance did it at prime -5%. I rarely need forex in cash as I prefer to use my cards.

As for documents, well I'd damn well hope so, the R400 odd per month they charge is enough to make a courier company deliver to your door and return it every single month.

I just go with the cheapest offer for everything and don't mind one bit to deal with multiple banks for the different things I do with them, for my personal profile / pattern Investec would cost a ton more for what seems to be very little actual benefit. To each his/her own of course.
 
NarrowBandFtw said:
Well it would depend on what assets you're referring to, but my bond is financed by Nedbank at prime -1.05% (somebody earlier was happy with -1% from Investec) and the car is now paid (and of course not an asset) but BMW Finance did it at prime -5%. I rarely need forex in cash as I prefer to use my cards.

As for documents, well I'd damn well hope so, the R400 odd per month they charge is enough to make a courier company deliver to your door and return it every single month.

I just go with the cheapest offer for everything and don't mind one bit to deal with multiple banks for the different things I do with them, for my personal profile / pattern Investec would cost a ton more for what seems to be very little actual benefit. To each his/her own of course.
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And what is your bond fee per month, and what was your vehicle loan fee per month? People forget those, and they all add up. I think they're now R62-67pm...

Then if you have a share trading account, that attracts fee's... etc.etc.etc. Investec has one account fee across its accounts, and I'll gladly pay it not to have to go into a bank.

(and a vehilce is an asset.)
 
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