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a.cilliers a.cilliers

1 reviews | Active since Aug 2016

08 Dec 2016, 16:40

Investec costs me thousands in lost interest!

<p>I need to invest a family inheritance and decided to invest with Investec Bank. On 24 Oct I called the Sandton office and Brent Downard returned my call. He sent me all the necessary requirements (on email to my correct email address) to open an investment account for a family trust. It took 8 days to get all the necessary documents which Investec required, from going to SAP to certify the Trust Deeds and ID Documents, to the Master of the Court to collect the Master's Original Document, to SARS to register the Trust and be FICA compliant. The envelope was promptly collected on 4 November 2016. </p> <p>On 21 November I emailed Brent asking what the delay was, upon which Lebogang from Admin sends an email (22 Nov ) requesting the original certified ID document, not a copy. Once again the driver, friendly and professional collected the necessary document on 23 Nov. </p> <p> On 01 Dec I once again follow up by emailing Brent, asking what the delay is as I am losing interest on a couple of million Rand and need to transfer the money into the Investec account. My email is not answered. </p> <p>Today, 8 Dec I again phone Brent. He checks his emails and says that Admin has communicated to me, but has used the wrong email address. Apparently, they require more documents as well. Now it should be known that Investec sends a checklist of all the requirements they need to open a Trust account, one of Investec's requirements is that each Trustee handwrites on his/her ID copy their email address and 2 telephone numbers for Admin to communicate with them. Then how on earth does Investec Admin get my email address wrong, and I'm not talking about a spelling error, but a whole address wrong? And they don't realise that the email is not delivered?</p> <p>Lebogang from Admin called me and apologized for her error, but would you trust Investec to look after your family's money if they can't even get your email address right? I think not. Perhaps Lebogang and Brent can offer me their Chrismas bonuses in lieu of the thousands of Rand of interest that I have lost over the last 6 weeks waiting for them to do their jobs. I am sure another bank will gladly take my money.</p>

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Replies (1)
Investec
Investec's reply08 Dec 2016, 17:17
Official

Hello Andrea,

We are sorry to hear about your experience. We have spoken to the team regarding this and the team leader will be in contact with you shortly.

Kind regards,

Investec Bank