Investec

Like with most of the banks, you get good and bad bankers - some of them just aren't interest in their clients, or client retention.

Can't say I've been too impressed with my latest one, fortunately my interactions have been limited the past year or so (and unfortunately the other banks still just don't compare RE: service).
 
droidx said:
Prime saver has a limit on how many transfers can go in or out, cash management does not.
You can keep the cash management account and open a prime saver, you don’t need to choose.

You can also have multiple of either account as well, if you need to separate savings purposes.
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Interesting.. I thought there had to be some sort of reason. Do you have any links to official information detailing these limits etc.? I’d love to read through them.
 
Another strange question… Why does Investec prefix the reference with “Investecpb…” when I make an EFT to someone?

For example:
• My reference: ABC (as it appears on my statement)
• Their reference: 123456789 (as entered when making the EFT)

However, when the recipient receives the payment, the reference appears as “Investecpb 1234567..” sometimes cutting off the rest of the my original reference - if it’s too long.

Do you know why this happens? And if there’s a way to remove the prefix?
 
ace119 said:
Interesting.. I thought there had to be some sort of reason. Do you have any links to official information detailing these limits etc.? I’d love to read through them.
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This might not be the case any longer.
It was true when I opened my account, this was the main difference, but also more than a decade back.

I browsed through the current rules you linked, would have been under the product restrictions.

To be sure, check with your banker.
 
ace119 said:
Another strange question… Why does Investec prefix the reference with “Investecpb…” when I make an EFT to someone?

For example:
• My reference: ABC (as it appears on my statement)
• Their reference: 123456789 (as entered when making the EFT)

However, when the recipient receives the payment, the reference appears as “Investecpb 1234567..” sometimes cutting off the rest of the my original reference - if it’s too long.

Do you know why this happens? And if there’s a way to remove the prefix?
Click to expand...

You can’t remove the prefix, it’s set when the outgoing message is generated
 
ace119 said:
Another strange question… Why does Investec prefix the reference with “Investecpb…” when I make an EFT to someone?

For example:
• My reference: ABC (as it appears on my statement)
• Their reference: 123456789 (as entered when making the EFT)

However, when the recipient receives the payment, the reference appears as “Investecpb 1234567..” sometimes cutting off the rest of the my original reference - if it’s too long.

Do you know why this happens? And if there’s a way to remove the prefix?
Click to expand...


You can remove it buy opening a Capitec account
 
Hands down, the service we’ve received from Investec while switching accounts, handling vehicle loans, etc… has been world-class.

The care and attention - FANTASTIC!

Even when we ran into a few issues, they were dealt with quickly, and Investec accommodated us.

Night and day compared to 10 years with FNB, followed by a few years at RMB - very happy we moved away from the FirstRand Group.
 
I'm considering moving to Investec too, for two reasons:
1) I'd like a better rate on my home-loan. May even re-finance a bit to see if I can get some extra funds to build a pool.
2) I'm really keen on their programmable bank account.

Started the process last year but the home rate wasn't that great, mostly becuase my house is more than 60% paid off and thus the part that I'd finance through them is not that big. It was better than what I'm currently paying at FNB, but after I factor in the bond movement costs, it basically broke even.
 
ebendl said:
I'm considering moving to Investec too, for two reasons:
1) I'd like a better rate on my home-loan. May even re-finance a bit to see if I can get some extra funds to build a pool.
2) I'm really keen on their programmable bank account.

Started the process last year but the home rate wasn't that great, mostly becuase my house is more than 60% paid off and thus the part that I'd finance through them is not that big. It was better than what I'm currently paying at FNB, but after I factor in the bond movement costs, it basically broke even.
Click to expand...

There is quite a bit of community involvement with the programmable bank accounts. I haven't attended in ages, but - I believe its advanced quite a bit since I was involved.
 
ebendl said:
I'm considering moving to Investec too, for two reasons:
1) I'd like a better rate on my home-loan. May even re-finance a bit to see if I can get some extra funds to build a pool.
2) I'm really keen on their programmable bank account.

Started the process last year but the home rate wasn't that great, mostly becuase my house is more than 60% paid off and thus the part that I'd finance through them is not that big. It was better than what I'm currently paying at FNB, but after I factor in the bond movement costs, it basically broke even.
Click to expand...
Just FYI you will need to have that pool signed off on building plans.
 
droidx said:
This might not be the case any longer.
It was true when I opened my account, this was the main difference, but also more than a decade back.

I browsed through the current rules you linked, would have been under the product restrictions.

To be sure, check with your banker.
Click to expand...
Saw this earlier… pretty much the only time I’ve seen that the “Prime Saver” account has a short 24/48hour waiting period to release funds “immediately”. So I’d use this for funds less frequently accessed.

Whereas the “Cash Management” is instant to release the funds. I’d use this for funds that I’d frequently want to access.

https://www.investec.com/en_za/savings-accounts/access-immediately.html
 

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I see there’s a neat new ‘Multicurrency Pockets’ feature that Investec launched (I’m not sure when) - I’m only seeing it today.

It’s great that the pockets use your SA bank card through “Intelligent Routing” and not a separate card or account! For people who don’t use foreign currencies often, this is awesome.

Not too sure about the fees yet, or the base currency funding minimums.

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Seems like there’s no minimum base currency required to fund and open the multicurrency pocket’s.

I funded each pocket with 5 of the base currency, and you can also close a pocket - should you wish to - within the app.

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ace119 said:
I see there’s a neat new ‘Multicurrency Pockets’ feature that Investec launched (I’m not sure when) - I’m only seeing it today.

It’s great that the pockets use your SA bank card through “Intelligent Routing” and not a separate card or account! For people who don’t use foreign currencies often, this is awesome.

Not too sure about the fees yet, or the base currency funding minimums.

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I saw this, I'd be curious what happens now if you do international purchase using the pocket, e.g. USD - do you still get charged the credit card fee for international purchase?

If so - then what is the benefit besides betting against the rand?
 
I see the new Investec Private Banking and Youth cards are now in portrait format, instead of the previous landscape design.

This week, we received some new cards for the family, and they’ve all been updated.

Looks like this company was involved in the new branding: https://www.luckybeard.com/projects/investec

IMG_0091.jpg
 
ace119 said:
I see the new Investec Private Banking and Youth cards are now in portrait format, instead of the previous landscape design.

This week, we received some new cards for the family, and they’ve all been updated.

Looks like this company was involved in the new branding: https://www.luckybeard.com/projects/investec

View attachment 1818774
Click to expand...
Our physical cards have the expiry date and CVV on the front, along with the account number - not on the back with the card number.

So, slightly different from the picture I found online and shared here.
 
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