PO
Peter O
1 reviews | Active since Apr 2019
30 May 2023, 14:14
Investec does not want you to invest in them
It is hard to believe, but you cannot invest in any of Investec's Unit Trusts if you do not bank with Investec. How can a bank survive by refusing anyone wanting to invest?? If you have any shares in Investec, you should sell them immediately because a bank that refuses investments surely cannot survive. I have this on good authority from Mr Favbrice Muhizi, one of their so-called wealth managers, you could not even tell me how much you have to deposit. What a joke!
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Investec's replyOfficial
30 May 2023, 14:31We are sorry to hear that this has been your experience, Peter. Correct, in order to open a My Investments Unit Trust, you need to have a Private Bank Account with us. However, we do offer other investments through Wealth, the minimum investment is R1 million if you do not have an Investec Private Bank Account. If you are interested in cash investments, the minimum investment for our different products is R100 000 or R30 000 for a Tax-Free Savings Account.
Investec's reply30 May 2023, 14:31
Official
We are sorry to hear that this has been your experience, Peter. Correct, in order to open a My Investments Unit Trust, you need to have a Private Bank Account with us. However, we do offer other investments through Wealth, the minimum investment is R1 million if you do not have an Investec Private Bank Account. If you are interested in cash investments, the minimum investment for our different products is R100 000 or R30 000 for a Tax-Free Savings Account.
PO
Peter O's updateReviewer Update
30 May 2023, 15:29So, only for the very few then. Still, it makes no sense to limit your customer base, but at least we all know that now, and can transfer all our investments to other banks.
PO
Peter O's update30 May 2023, 15:29
Reviewer Update
So, only for the very few then. Still, it makes no sense to limit your customer base, but at least we all know that now, and can transfer all our investments to other banks.