The Bank We Should Have Chosen

I have Jozie Days, one of my readers, to thank for the following insight on choosing the right bank in South Africa. It sounds almost too good to be true, compared to the rather bad and expensive service we get with the bank we – not knowing any better – chose. So I’m hoping some of you future expats will read this and give Investec a try:

“We were lucky when we came to SA. I went to Standard Bank and they were very unhelpful ( like most of the banks in SA) They gave me piles of forms to fill in and were generally difficult. The thought of opening an account filled me with dread and despair. Then one of my husband’s work mates told us about Investec. They are brilliant. They deliver our foreign currency for holidays and business trips. They deliver credit cards, petrol cards etc. We have a personal banker who is exclusively assigned to us, she sorts out any problems. We have a reasonable monthly bank charges fee. You can draw cash from any ATM without being charged. The only down side is that they don’t have cheque books (which is actually a positive for me as I hate trying to balance my cheque book). They do not have any retail outlets – but deposits can be made at ABSA.”

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