-
Join the MyBroadband community
South Africa’s biggest forum. Discuss, discover, and connect with thousands of members.
-
Question of the Day: Are you keeping your Prime subscription?
Investec
- Thread starter Priapus
- Start date
Pleasure!
You made a better choice than I did. Your use case seems more in line. A digital bank like Discovery would probably be perfect for me rather than Investec.
I do hope you enjoy the experience, it's a lot different than a “normal” bank.
I actually tried out Discovery for a bit. Ended up closing the account (There's thread I started on that too a while back)
Their app was decent and to be fair so were some of the services they offered. But it was not compelling enough, in the end to leave FNB.
Dont forget you also get lounge key with investec and flights by investec have really great rates was substantially cheaper when we flew to Serbia earlier this year. Also the have substantially reduced topped up insurance with bryte.
When flying internationally drawing money with investec is usually the cheapest then just swipe with something like capitec.
I'm aware of the lounge access; something my wife and I always use when flying. How do you get better rates on flights?
Is that insurance travel insurance?
This was also a big plus for me; I can have a UK based account with them, and use that account when abroad; saving a fair amount on fees. I believe fees for using the account outside of the UK isn decent too - eg like in the US.
Yes that's travel insurance.
Google flights by investec its their own flight portal.
I meant withdraw money from an atm abroad. There is no base fee so upto 2500 zar its the cheapest option n.
Investec Travel
Account opened seemlessly 7% is not bad at all. Way better than any of FNB instant access accounts also likely one of the higher instant access interest accounts around
Yeah, the process is straightforward. What does FNB give on their accounts?
Never really looked.
also likely one of the higher instant access interest accounts around
Tymbank offer 8%. But you need to jump through hoops to get that rate and it only applies after 90 days AND it’s only 100k limit.
Yup some love tyme bank but if I wanna store substantial funds this is the way for me, high interest, instant access, no limit, bank with a VERY long track record.
I am aware there are other items that will earn more than 7%
I want to store excess funds that at least get a good no risk return.
I am well acquinted with risk dabbling in crypto and trading for years now.
Thats pretty cool if you wanna save for multiple things, I just lump all together but I know many people would appreciate this split
I actually do it as a way to give myself permission to spend. If there are funds in the home maintenance account then I don't feel bad using it. Otherwise it will all end up in my bond and everything around me will fall apart because I'll feel too bad to spend money fixing anything.
If you have a bond it should be a flexi bond and all additional funds should in theory sit there.
Mike Hoxbig
Honorary Master
Is that 7% per week?
kekeke dont be a naar haterIs that 7% per week?
I was actually wondering this today, if I could open more than one PS account. Thanks.
This is exactly why I want to open more than one. So each account has a purpose. House maintenance being one of them!
But for longer term goals; arguably a 32 day notice account is better.
The wife and I plan to go to the UK for Christmas next year, and want a decent holiday. So I’ll probably open a 32 day notice account for that; which has a higher interest rate.
But Investec want 100k to open one of these account if you’re an existing client. So I might just use a PS account for it too.
I used to do this. But now, any extra money I put into the bond I do not touch. I consider it “gone” - the goal here is to have the house paid off in 10 years. It’s easier to achieve this if I don’t keep drawing money out of it. So I’ve decided to stop treating it like an flexi bond and just put extra money there each month.l and forget about it.