I’ve been with Investec since I qualified as a Chartered Accountant in 2002. Recent experiences with a competing private bank have made me appreciate anew how awesome Investec is and feel a tad guilty for perhaps taking them for granted.
So here’s my reasons for why Investec is the best private bank in SA:
- No hidden fees. They tell you straight what it will cost. Some private banks are quite happy to hit you with invisible charges, relying on fine-print for protection.
- They have a simple online banking site. No need for endless passwords and SMS’s and rage-inducing “sorry, wrong PIN” messages.
- They are fast. You can do everything you want online. The few things you require a private banker for are handled with slick efficiency.
- You can access the Premier Lounge at airports for free, as many times as you like. You can also access SAA lounge even if you have a Mango ticket. The SAA lounge has giant jars of jelly beans, marshmallows and Whispers. It is awesome.
I think Investec’s secret is they combine great people with a great product. Its no good having the most competent and friendly staff in the world if the product is fundamentally not user-friendly and the pricing is dishonest.