Investec

Hamster said:
Just a heads up - and maybe I got very unlucky - but the day I wanted to close my FNB account I had to physically go to the branch. Luckily I was still in the country at the time.
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Oh I don’t know if I’d go as far as closing the FNB account. Maybe. But I’d try out Investec for awhile first and then yea maybe close FNB.
 
Gtx Gaming said:
I heard with investec your banker actually answers the call. With FNB these "bankers" are a joke.
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Correct. You have a direct number to your personal banker. Depending on what sort of client you are, you can be one of only a handful of clients for that banker, and they really get to know you.
 
Gtx Gaming said:
I heard with investec your banker actually answers the call. With FNB these "bankers" are a joke.
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I’ve had a “personal banker” with FNB. Felt like a complete waste of time - more like just a random customer service agent who didn’t answer emails or calls.

I’ll be calling Investec tomorrow.

Thanks all.
 
I’ve had exceptional personal service from them.

Been with Absa and FNB, very happy with Investec.
 
Priapus said:
So, I see Invrstec also have an API for developers to use:
www.investec.com

Programmable Banking

Investec and OfferZen are launching programmable bank accounts for software developers, which will form part of a beta programme.
www.investec.com www.investec.com
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There's an ongoing active community via OfferZen involved with this. I pop in every now and then to the monthly meets. (online).

Other than that, Investec is leagues ahead compared to the other banks private offerings in SA.
 
I don't know about the bank itself, I just wanted to add that I was shopping on Friday and a little boy of about 5 saw a zebra and said 'MOM LOOK! IT'S INVESTEC!"
I thought it was super cute
 
I looked at Investec when we bought our now last house, they are great from a customer service point of view but their lending rate was nothing to write home about and my monthly bank fee's would have more than doubled based on what I pay Standard Bank now. I just didn't see any benefit to move based on my needs, especially since I avoid 'upgrading' to private type banking accounts which I am normally eligible for, as I don't see any benefit for the increased cost.
 
Neuk_ said:
I looked at Investec when we bought our now last house, they are great from a customer service point of view but their lending rate was nothing to write home about and my monthly bank fee's would have more than doubled based on what I pay Standard Bank now. I just didn't see any benefit to move based on my needs, especially since I avoid 'upgrading' to private type banking accounts which I am normally eligible for, as I don't see any benefit for the increased cost.
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For me their value is in the UK account and forex stuff. I'll pay less fees using their services and card when sending funds abroad (As I do monthly) as whilst visiting family there, having no fees when using the card is a definite win.

Will also be opening up a UK account through them, too.

As for their lending rates; I'm not too interested in that. My bond is at a good rate now and makes no sense to switch - cars are fully paid for, so no finance needed there.
 
Update:

Ended up joining them and in the process of switching over debit orders and such. So far super happy with them and the personal banker has been great. I needed a letter to prove the account, when switching some stuff over - so I just sent him a WhatsApp and within an hour I had the letter in my email.

Keeping FNB account open, for other purposes but won't be the main account anymore.
 
Priapus said:
Update:

Ended up joining them and in the process of switching over debit orders and such. So far super happy with them and the personal banker has been great. I needed a letter to prove the account, when switching some stuff over - so I just sent him a WhatsApp and within an hour I had the letter in my email.

Keeping FNB account open, for other purposes but won't be the main account anymore.
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You can also get this from the app
Manage > Documents > Reference Letter
 
My experience has been a little more on the negative side.

I don't use the bank for anything fancy, simple day-to-day banking. My private banker got replaced 3 times this year and the current one does not seem interested in taking my calls. (Investec replaced them, not my request) I have to phone the backup banker to get anything done most of the time. When I moved over 2 years ago they were very helpful, right until I was a client.

Basic things like buying prepaid electricity are painful. The app either times out and you have to do the same transaction twice or it times out and a minute later you get an SMS token. Capitec is instant.

Instant payments sometimes take hours to reflect. Again, Capitec is almost instant.

For investing and forex I guess they work well, but day-to-day banking is terrible. Not worth the almost R 600 monthly fee. I'm busy moving back to one of the big 4 where the basic functions work well.
 
Grieta Thanburg said:
My experience has been a little more on the negative side.

I don't use the bank for anything fancy, simple day-to-day banking. My private banker got replaced 3 times this year and the current one does not seem interested in taking my calls. (Investec replaced them, not my request) I have to phone the backup banker to get anything done most of the time. When I moved over 2 years ago they were very helpful, right until I was a client.

Basic things like buying prepaid electricity are painful. The app either times out and you have to do the same transaction twice or it times out and a minute later you get an SMS token. Capitec is instant.

Instant payments sometimes take hours to reflect. Again, Capitec is almost instant.

For investing and forex I guess they work well, but day-to-day banking is terrible. Not worth the almost R 600 monthly fee. I'm busy moving back to one of the big 4 where the basic functions work well.
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Yeah, they’re not perfect. No bank is. My baker seems really helpful and we will see how it goes.

For me, the forex stuff, UK bank account and 7% + interest on savings account were what I was interested in.

I travel to the UK often. So having a UK based account is ideal as well as the lounge access stuff.

I also send money to the UK often. So their forex stuff just added on to that.
 
Priapus said:
Yeah, they’re not perfect. No bank is. My baker seems really helpful and we will see how it goes.

For me, the forex stuff, UK bank account and 7% + interest on savings account were what I was interested in.

I travel to the UK often. So having a UK based account is ideal as well as the lounge access stuff.

I also send money to the UK often. So their forex stuff just added on to that.
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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. :)
 
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