AfrifinHub / Investec
Investec: Private banking account & card
Private banking account & card explained using the existing Investec coverage on AfrifinHub. Review the sections below and use the bank navigation to explore related topics.
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Investec Private Bank Account & Visa Platinum Card: Fees & Eligibility
Source: existing AfrifinHub article. Original WordPress modification: 2026-09-18. This is not a new fact-check date.
How the account works
Unlike a typical bank/credit-card split, Investec bundles transactional banking and a credit facility into one product. The Private Bank Account carries a single, all-inclusive monthly fee of R705 (R355 for Young Professionals under 30), covering unlimited free local and international ATM withdrawals and no separate annual card or facility fees — though international banks may still charge their own fees on withdrawals made abroad.
Eligibility
To apply, you generally need to earn R800,000 or more per year. Investec also runs a Young Professionals track for individuals under 30 earning less than R800,000, who may qualify with a relevant professional qualification — see the Young Professionals section on the Complete Bank Guide for more.
Visa Platinum credit card features
| Feature | Detail |
|---|---|
| Pricing | Priced at prime |
| Interest-free period | Up to 45 days on purchases |
| Budget facility | For larger expenses, over up to 60 months |
| Digital wallets | Apple Pay, Google Pay, Samsung Pay, Garmin Pay and Fitbit Pay |
| Multicurrency pockets | USD, GBP and EUR pockets in Investec Online and the app, with Intelligent Routing selecting the correct pocket per transaction |
| Travel insurance | Complimentary when international travel tickets are bought on the Investec Visa card, covering medical emergencies and personal accidents for all travellers |
| Extra card | An additional card linked to your account at no extra cost |
| Credit balance | Earn interest on money held in credit on your account |
Transfers from a rand balance into a foreign-currency pocket count towards your annual Single Discretionary Allowance, while transfers back to rand credit your Repatriation Allowance — worth factoring in if you move money offshore regularly.
Other card fees to know
The R705 (or R355) monthly fee covers day-to-day banking, but a few ancillary charges apply outside of it. These are the ones published on Investec’s own fee schedule, dated 1 August 2024 — the most recent version available at time of writing, though the headline account fee itself has since increased to R705/R355, so treat the figures below as indicative and confirm the current schedule with your Private Banker before relying on them for a large transaction:
| Item | Fee |
|---|---|
| Card replacement/delivery (local) | Included, though R300 applies if the card is replaced more than once in a three-year cycle |
| Card replacement/delivery (international) | R655 |
| Local emergency card delivery | R415 |
| Transaction voucher copy | R185 |
| International currency conversion fee | 2% of the rand value, charged on card transactions not made in rand |
| Cash withdrawal at a local or international bank branch | R75 flat fee (excludes the international currency conversion fee above) |
| Cross-border card fee | 2% of the rand value, capped at R100 per transaction, charged on rand-based transactions where the merchant or cash provider is outside South Africa |
These are the kind of once-off charges worth knowing about upfront rather than discovering on a statement. The international conversion and cross-border fees matter most for travellers: they only apply when you spend in a foreign currency without a funded multicurrency pocket — spending directly from a pocket in the matching currency avoids the conversion fee entirely.
Family and business accounts
A spouse or other family members can open their own Private Bank Account at a reduced monthly fee, with access to the same benefits. Investec also offers the Youth Account for children and young adults at no monthly fee, letting a family bank together under one relationship rather than juggling separate providers.
Investec’s branch code and SWIFT code
| Detail | Code |
|---|---|
| Universal branch code (for local EFTs and debit orders) | 580105 |
| SWIFT/BIC code (for international transfers) | IVESZAJJ |
Investec uses a single universal branch code across all its South African branches and accounts, so you don’t need to look up a branch-specific code for local payments. For international incoming transfers, give the sender the SWIFT code above along with your account number — your Private Banker or Investec Online can confirm your exact account details if you’re unsure.
Who this suits
- Professionals who want one account, one card and one fee instead of stacking a transactional account, credit card and forex product
- Frequent international spenders who want to hold and spend in dollars, pounds and euros without a separate offshore account
- Clients who value 24/7 access to a real support team over app-only self-service
- Families who want children’s, spousal and personal accounts under one banking relationship
Frequently asked questions
How much interest-free credit does the Investec Visa Platinum give?
Up to 45 days interest-free on card purchases, with the credit facility priced at prime.
Are ATM withdrawals free on an Investec Private Bank Account?
Yes, unlimited free local and international ATM withdrawals are included in the monthly fee, though international banks may still apply their own charges.
Can my spouse get their own Investec account?
Yes, family members can open a Private Bank Account at a reduced monthly fee with the same benefits, and children/young adults can hold a fee-free Youth Account.
Does the card work for online currency purchases without an offshore account?
Yes — multicurrency pockets in USD, GBP and EUR let you hold and spend foreign currency on the same Investec Visa card.
What is Investec’s branch code?
580105 — a universal code used across all Investec branches and accounts in South Africa for local EFTs and debit orders.
What is Investec’s SWIFT code?
IVESZAJJ, used for incoming international transfers. Confirm your exact account number with your Private Banker or via Investec Online before sharing it.