Quick Facts

• Minimum income requirement: R800,000 per year (R600,000 for under 30s)
• Monthly account fee: R675 (R340 for Young Professionals)
• Four currencies on one card: Rand, Dollar, Euro, Pound
• Unlimited airport lounge access worldwide
• Dedicated travel agency exclusively for Investec clients

What is Investec Travel?

Investec Travel is a premium travel banking service available only to Investec Private Banking clients. It is not a separate bank or product you can apply for on its own. You must first have an Investec Private Bank Account to access these travel services.

Investec Travel includes three main parts:

1. Multi-Currency Pockets: Hold and spend four different currencies (Rand, Dollar, Euro, Pound) on one card without cross-border transaction fees.
2. Travel Agency Services: A dedicated travel booking service at +27 21 929 2800 or [email protected] for flights, hotels, car rentals, and custom travel packages.
3. Travel Benefits: Unlimited airport lounge access worldwide, travel insurance when you buy tickets with your Investec card, and preferential foreign exchange rates.

Investec was named Best Private Bank and Wealth Manager in South Africa for 12 consecutive years by the Financial Times of London. However, their services are only available to high-income earners.

Who Qualifies for Investec Private Banking?

Investec Private Banking has strict income requirements. This is not a bank for everyone. It is designed for high earners and wealthy South Africans.

Standard Requirements (Age 30 and Over)

• Annual income of R800,000 or more (about R67,000 per month before tax)
• OR investable assets worth R10 million or more
• Must be 18 years or older
• South African ID or valid passport
• Proof of income (recent bank statements or payslips)
• Proof of residence (not older than 3 months)

Young Professionals Programme (Under Age 30)

• Annual income of R600,000 or more (about R50,000 per month before tax)
• OR work in specific professions like medicine, engineering, law, or actuarial science
• Reduced monthly fee of R340 (instead of R675)
• Free R25,000 life insurance until age 30

🌍 Multi-Currency Pockets: The Game Changer

In May 2025, Investec launched a new feature called Multi-Currency Pockets. This is one of the best travel banking features in South Africa right now.

How It Works

Your Investec Visa card becomes a four-in-one card. You can hold money in four currencies at the same time:

1. South African Rand (ZAR)
2. US Dollar (USD)
3. Euro (EUR)
4. British Pound (GBP)

Why This Saves You Money

With normal bank cards: When you swipe a South African card overseas, your bank charges a cross-currency fee of 2% to 3% on every transaction. If you spend $1,000 overseas, you pay an extra $20-$30 just in fees.

With Investec Multi-Currency Pockets: Because your currency pockets are pre-funded, you pay zero cross-currency transaction fees. Your card automatically uses the correct currency pocket when you spend.

How to Use It

1. Fund your pockets: Before you travel, use the Investec App or Investec Online to move money from your Rand account into your Dollar, Euro, or Pound pocket. This takes seconds.
2. Lock in your rate: When you move money into a currency pocket, you lock in that day’s exchange rate. This protects you from the Rand getting weaker while you travel.
3. Spend automatically: When you use your card overseas, the system automatically takes money from the correct currency pocket. No need to think about it.
4. Switch off pockets: If you want to save your Dollars for later, you can switch off your Dollar pocket in the app. Then your card will use your Rand balance instead.

Exchange Control Rules

Important: Money in your currency pockets counts towards your Single Discretionary Allowance. This is the R1 million per year that South Africans can take overseas without special permission from SARS.

The good news: Although your money stays in South Africa (it does not physically leave the country), it counts as offshore from a tax perspective. This means less paperwork and admin for you.

The Investec App will alert you to show how much of your R1 million allowance you have used.

✈️ Investec Travel Agency Services

Investec Travel is a full travel agency that only serves Investec Private Banking clients. You can book everything from flights to safari tours.

What You Can Book

• International and domestic flights at preferential rates
• Hotels and accommodation worldwide
• Car rentals
• Holiday packages
• Custom travel itineraries designed by travel specialists
• Safari experiences and wine tours in South Africa

How to Book

Option 1: Online Booking
Visit travelbyinvestec.co.za to search and book flights, hotels, and car rentals yourself.

Option 2: Speak to a Travel Specialist
For custom itineraries or complex bookings, contact:
Phone: +27 21 929 2800
Email: [email protected]
Emergency after-hours: +27 83 649 9679

Travel Rewards Programme

When you pay for travel with your Investec Visa card, you earn Rewards points at a preferential rate:

• Every 5,000 Rewards points = R250 towards travel bookings
• Use points to pay for flights, accommodation, car rentals, taxes, and more
• Points never expire
• No membership fee for the Rewards programme

Airport Benefits

• Unlimited lounge access: Over 1,100 LoungeKey airport lounges worldwide, plus all SAA-owned and Bidvest Premier lounges in South Africa
• Fast Track security: Skip long queues at OR Tambo and Cape Town international airports
• Access with your card: Simply show your Investec Visa card at the lounge entrance

Travel Insurance

You automatically get complimentary multi-trip international travel insurance when you buy international travel tickets using your Investec Visa card. This covers you for multiple trips throughout the year.

💰 Costs and Fees (2025)

Monthly Account Fee

Account Type	Monthly Fee	What’s Included
Standard Private Bank Account (Age 30+)	R675/month	All day-to-day banking, Visa card, multi-currency pockets
Young Professionals Account (Under 30)	R340/month	All benefits + R25,000 free life insurance
Spouse or Partner Account	Reduced fee	Same benefits, linked to main account

What’s Included in the Monthly Fee

• Unlimited local ATM withdrawals
• Unlimited international ATM withdrawals (the overseas bank may charge their own fee)
• All electronic transfers and payments
• Debit order setups
• Multi-currency pockets (no extra monthly fee)
• Investec Rewards programme (no membership fee)
• Access to Investec Online and the Investec App
• 24/7 global Client Support Centre

Additional Travel Costs

• Foreign exchange rates: You get preferential rates, but there is still a spread between buying and selling rates
• International ATM fees: Investec does not charge you, but the overseas bank may charge R50-R100 per withdrawal
• Currency conversion between pockets: Small fees may apply when you move money between different currency pockets

What You Save

Zero cross-currency transaction fees when spending overseas = saves you 2-3% on every transaction
Example: If you spend R50,000 overseas, you save R1,000-R1,500 in transaction fees compared to a normal bank card.

Free airport lounge access = saves R300-R500 per person per visit
Free travel insurance = saves R500-R1,500 per trip depending on destination

📝 How to Apply for Investec Private Banking

Step 1: Check If You Qualify

Visit www.investec.com/en_za/banking/requirements.html

Complete the online eligibility check. This takes less than 2 minutes.

Step 2: Gather Required Documents

• South African ID book or Smart Card (or passport if not South African)
• Recent bank statement showing proof of income (not older than 3 months)
• Recent payslip (if employed)
• Proof of residence (utility bill, rates notice, or lease agreement – not older than 3 months)

Step 3: Apply Online or Call

Online Application:
Visit www.investec.com/en_za/banking/private-bank-account.html
Click “Apply Now” and complete the online form

Phone Application:
Call: +27 11 291 3932 or 0860 443 443
Office hours: Monday to Friday, 08:00-17:00

Step 4: Interview and FICA Verification

Investec will verify your identity and income as required by the Financial Intelligence Centre Act (FICA). This is normal for all South African banks.

You may be assigned a Private Banker who will call you to discuss your banking needs.

Step 5: Account Activation

If approved, your account is usually opened within 48 hours. You will receive:

• Your Investec Visa Platinum card (delivered by courier)
• Login details for Investec Online and the Investec App
• Contact details for your Private Banker
• Instructions on how to set up multi-currency pockets

🚨 Critical Scam Warnings

Criminals target Investec clients because they know these are high-value accounts. Be extremely careful of these common scams.

Fake Investec Calls and Emails

The Scam: Fraudsters call or email pretending to be from Investec’s fraud department. They say there is suspicious activity on your account and ask for your banking details, PIN, or one-time password (OTP).

Red Flags:

• They ask for your PIN or OTP
• They create urgency (“Your account will be blocked in 1 hour”)
• They ask you to click a link in an SMS or email
• The email address looks slightly wrong (e.g., investec-uk.co.za instead of investec.com)
• They offer to “verify” your call by having you phone them back, but keep your line open

What to Do:

• Hang up immediately
• Never share your PIN or OTP with anyone – not even Investec staff
• Call Investec back on the official number: 0860 110 161 or +27 286 9663 (24/7)
• Do not use a number given to you in the suspicious call or email

Travel Booking Scams

The Scam: Fake websites that look like Investec Travel but are actually fraudulent booking sites designed to steal your money and card details.

How to Protect Yourself:

• Only use the official Investec Travel website: travelbyinvestec.co.za
• Check that the URL starts with https:// (the “s” means secure)
• Look for the green padlock symbol in your browser’s address bar
• If in doubt, call the official travel desk: +27 21 929 2800

Investment Scams Targeting Investec Clients

The Scam: Fraudsters contact you with “exclusive investment opportunities” claiming to be from or associated with Investec. They promise unrealistic returns (e.g., “10% per month guaranteed”) and pressure you to invest quickly.

Warning Signs:

• Promises of guaranteed returns higher than normal interest rates
• Pressure to invest immediately (“offer expires tomorrow”)
• Asked to transfer money to an individual’s account, not a company account
• The “advisor” only wants to communicate via personal email or WhatsApp

What to Do:

• Check the FSCA Warning List at www.fsca.co.za
• Only invest through your official Investec Private Banker or Wealth Manager
• Be suspicious of any “exclusive opportunity” that was not suggested by your banker

Banking While Travelling

Important Security Tips:

• Never use public computers (hotel lobbies, airport lounges) to access Investec Online
• Avoid public Wi-Fi for banking – use your mobile data or buy a local SIM card
• Enable international roaming before you travel so you receive SMS transaction alerts
• Notify Investec before travelling: Enter your travel dates on the Investec App or call your Private Banker. This helps them monitor for fraud while you’re away
• Emergency contact: Save this number before you travel: +27 83 649 9679 (after-hours emergencies)

🔄 Alternatives If You Don’t Qualify for Investec

If you earn less than R600,000-R800,000 per year, you cannot open an Investec Private Bank Account. Here are good alternative travel banking options for ordinary South Africans:

1. FNB Multi-Currency Cash Passport

What it is: A prepaid Mastercard that can hold 7 currencies (USD, GBP, EUR, AUD, AED, CAD, NZD)

Requirements: South African resident, age 18+

Benefits:

• No monthly account fee required
• Lock in exchange rates when you load
• Use at Mastercard ATMs and merchants worldwide
• Load online via FNB Online Banking

Contact: Call FNB Foreign Exchange Advisory Team: 0860 1 36739

2. Nedbank Travel Card

What it is: Prepaid travel card with up to 8 international currencies

Requirements: South African resident, age 18+, travelling abroad

Benefits:

• Fixed exchange rates protect you from currency fluctuations
• Manage on the Nedbank Money App
• Accepted at Mastercard and Maestro merchants worldwide
• Can buy currency up to 60 days before travel

Contact: Email retailfx@nedbank.co.za or visit your nearest Nedbank branch

3. Standard Bank Forex Services

What it is: Travel forex and international payments for Standard Bank clients

Requirements: Standard Bank account holder

Benefits:

• Buy foreign currency online
• Delivery to your door or collect at branch
• Competitive exchange rates

Contact: Visit www.standardbank.co.za or your local branch

4. Discovery Bank (If You Have Discovery Health)

What it is: Full digital bank with travel benefits linked to Discovery Vitality

Requirements: Monthly income varies by account type (from R5,000/month)

Benefits:

• Vitality Money rewards programme
• Discounts on local and international flights (up to 75% with high Vitality status)
• Free multi-trip international travel insurance
• Airport lounge access (depending on account level)
• Much lower income requirements than Investec

Contact: Visit www.discovery.co.za/bank or call 0860 44 55 66

Important Exchange Control Rules for All South Africans

Regardless of which bank you use, these rules apply:

• Single Discretionary Allowance: R1 million per year (no tax clearance needed)
• Under 18: R200,000 per year travel allowance
• Cash allowance: R25,000 in South African banknotes when travelling abroad
• Currency purchase timing: Can only buy forex from 60 days before travel
• Unused currency: Must return to an Authorised Dealer within 30 days after your trip

If you qualify for Investec (earn R600,000+ per year): The multi-currency pockets feature and travel benefits make Investec one of the best travel banking options in South Africa. The R675/month fee is justified if you travel frequently internationally. You will save more than that in cross-border transaction fees alone.

If you don’t qualify for Investec: Don’t pay advance fees to “agents” who claim they can get you an Investec account. This is a scam. Instead, use the FNB Multi-Currency Cash Passport or Nedbank Travel Card – both are excellent alternatives with no minimum income requirements.

Safety First: Never share your PIN, OTP, or banking passwords with anyone claiming to be from Investec. The bank will NEVER ask for this information. If you receive a suspicious call or email, hang up and call Investec directly on their official number.

Before You Travel: Always notify your bank about your travel dates, enable international roaming on your phone, and save emergency contact numbers. This applies whether you use Investec or any other bank.

Exchange Control Compliance: Remember that all money you take out of South Africa counts towards your R1 million annual discretionary allowance. Keep records of all your forex purchases for tax purposes.