LK
Louis K
1 reviews | Active since Feb 2020
26 May 2020, 16:53
Investec Forex...a definite NO
I recently did a forex transaction through Invetec. They charged a fee of R710 and when the spot rate to the USD/ZAR was 18.22 they charged 18.33 for an outgoing transaction.
This means that they charge almost 20c spread.
Sasfin and FNB Forex/Treasury charge me 1,3-2,7 c spread, depending on the amount of forex (1,3c ob anything over $100,000.
Quite frankly I will never use them again and urge anyone that considers making forex payments to approach.
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Replies (4)0
Replies (4)
Investec's replyOfficial
26 May 2020, 18:08Hi Louis, I'm sorry to hear that you're not happy with our forex services. We'd like to remedy this. I've asked one of our Forex Dealers to get in touch with you to discuss further.
Investec's reply26 May 2020, 18:08
Official
Hi Louis, I'm sorry to hear that you're not happy with our forex services. We'd like to remedy this. I've asked one of our Forex Dealers to get in touch with you to discuss further.
LK
Louis K's updateReviewer Update
09 Jun 2020, 14:50The Service is surely not great. It is the 9th of June and nobody has called.
LK
Louis K's update09 Jun 2020, 14:50
Reviewer Update
The Service is surely not great. It is the 9th of June and nobody has called.
Investec's replyOfficial
09 Jun 2020, 16:00I apologise that you haven't been contacted yet. This isn't the kind of service we aim to provide. I have escalated the issue and asked the team to call you.
Investec's reply09 Jun 2020, 16:00
Official
I apologise that you haven't been contacted yet. This isn't the kind of service we aim to provide. I have escalated the issue and asked the team to call you.
LK
Louis K's updateReviewer Update
09 Jun 2020, 16:17Do not worry about calling. Just tried to do my second (AND LAST) deal with Investec. Again they charged a 8,5cent spread. Did another one this morning with Sasfin with a 2,1c spread for about the same amount.
I seriously should consider moving my investments and cash as well.
The thinking is if you abuse you're clients in this way, you are probably taking advantage of them in all areas/ devisions.
I seriously should consider moving my investments and cash as well.
The thinking is if you abuse you're clients in this way, you are probably taking advantage of them in all areas/ devisions.
LK
Louis K's update09 Jun 2020, 16:17
Reviewer Update
Do not worry about calling. Just tried to do my second (AND LAST) deal with Investec. Again they charged a 8,5cent spread. Did another one this morning with Sasfin with a 2,1c spread for about the same amount.
I seriously should consider moving my investments and cash as well.
The thinking is if you abuse you're clients in this way, you are probably taking advantage of them in all areas/ devisions.
I seriously should consider moving my investments and cash as well.
The thinking is if you abuse you're clients in this way, you are probably taking advantage of them in all areas/ devisions.