Investec does not care for its clients. Only for its bottom line.

I am writing to formally express my deep dissatisfaction with the banking service I have received. In February, I requested that my account be closed and paid the outstanding amount at the time. Despite this, the account remained open and continued to accrue monthly banking charges. The account was suspended for over six months and was not active during this period, yet charges were levied monthly, ultimately accumulating to R6,800, which I was forced to pay in order to settle the account. When I requested a breakdown of these charges, the information provided conveniently started from March, omitting any details about the funds that were in the account prior to that. This lack of transparency is unacceptable and has negatively impacted my credit record, despite me having received no benefit from being a client. I find the bank’s conduct in this matter deplorable. It reflects a disregard for fairness and accountability, and I now understand why banks have been referred to the Competition Commission to explain their banking charges. The charges appear to be nothing more than a money grab, with no consideration of ubuntu or ethical treatment of clients. I have now settled the account and will be discontinuing any further relationship with Investec. I leave this experience scorned and bitter, and I hope this feedback is taken seriously to prevent similar treatment of other clients.