Currency Access Account

Exclusive to Investec Private Banking clients

 

Looking to securely transfer money overseas? Buy, sell or mortgage your property abroad, repatriate your salary or pay international school or university fees? Discover our multi-currency account, exclusive to Investec Private Bank clients.

Designed for high net worth individuals

£300,000

Minimum yearly earnings required to qualify

£3m

Net worth in order to be eligible

24/7/365

Service from your private banker and client support team

The Currency Access Account makes sending money abroad quick and easy, helping you in countries where it is difficult to open a local bank account.

Bank without boundaries

Hold funds before and after exchange with the option of transfering money abroad and making transactions in all major currencies. As we’re a regulated bank, you have the confidence of knowing that your money is safe and secure.

A range of currencies

Hold funds in more than 15 different currencies free of charge and see all your foreign currency balances in one place. This helps you to minimise the effects of currency fluctuations in your monthly outgoings.

Hassle-free transfers

Make fee-free UK transfers without needing to open a separate UK bank account. Plus you can get paid monthly interest on your balance – useful when you’re transferring larger amounts.

Get more out of the market

Work with your own dedicated private banker to take advantage of the rates that will benefit you most. 

Ready to talk to a private banker about your FX needs?

When you can use your Currency Access Account

Access a range of services that help you manage your money in a foreign currency. 
Buy or sell a property abroad, whether transferring a deposit or making an outright purchase
  • Take out a mortgage on property overseas Repatriate your salary back to the UK
  • Make frequent international transfers or one-off payments
  • Pay overseas school or university fees.
Please note that direct debits and standing orders are not permitted.

How your Currency Access Account works

  • Interest rates

    AER* variable interest is paid monthly and is not compounded. The interest paid differs according to currency held – but please note that not all currencies earn interest at the moment. See table below with full details.

  • Tax status

    Interest is paid without tax being deducted from 6 April 2016.
    How you are taxed on this interest will depend on your individual circumstances and you should seek professional tax advice if you have specific questions. Guidance can also be found on the HMRC website. 
  • Withdrawal and access

    No notice, easy access.
    Access your account information via online and telephone banking.
    There are different cut-off times for different currencies and different types of electronic payment instructions. Please read our schedule of cut-off times relevant to your currency.
  • Your protection

    You’re protected under the UK’s Financial Services Compensation Scheme (FSCS). Please read this important information about your rights. 
  • Your questions

    More information

    We've answered your questions about Investec’s private foreign exchange services and Currency Access Account. Visit the frequently asked questions page below.

How your Currency Access Account works

Interest rates
Tax status
Withdrawal and access
Your protection
Your questions

AER* variable interest is paid monthly and is not compounded. The interest paid differs according to currency held – but please note that not all currencies earn interest at the moment. See table below with full details.

Interest is paid without tax being deducted from 6 April 2016.
How you are taxed on this interest will depend on your individual circumstances and you should seek professional tax advice if you have specific questions. Guidance can also be found on the HMRC website. 

No notice, easy access.
Access your account information via online and telephone banking.
There are different cut-off times for different currencies and different types of electronic payment instructions. Please read our schedule of cut-off times relevant to your currency.

You’re protected under the UK’s Financial Services Compensation Scheme (FSCS). Please read this important information about your rights. 

More information

We've answered your questions about Investec’s private foreign exchange services and Currency Access Account. Visit the frequently asked questions page below.

Interest rates

You can hold funds in more than 15 currencies, including sterling, South African rand, euros, and New Zealand, Australian, Canadian and US dollars. The table below shows the current deposit rates available with our Currency Access Account. If your desired currency is not listed, please call us on +44 (0) 20 7597 2999.
 
Product Currency Gross AER*
South African Rand ZAR 4.41% 4.50%
Sterling GBP 0.05% 0.05%
Swiss Franc CHF 0.00% 0.00%
Australian Dollar AUD 1.24% 1.25%
New Zealand Dollar NZD 1.74% 1.75%
Canadian Dollar CAD 0.25% 0.25%
Japanese Yen JPY 0.00% 0.00%
Swedish Krona SEK 0.00% 0.00%
Danish Krona DKK 0.00% 0.00%
Singapore Dollar SGD 0.00% 0.00%
US Dollar USD 0.50% 0.50%
Euro EUR 0.00% 0.00%
Israeli Shekel ILS 0.00% 0.00%
Hong Kong Dollar HKD 0.00% 0.00%
Norwegian Krona NOK 0.00% 0.00%
 
* AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once a year. "Gross" is the contractual interest rate paid before the deduction of any tax.
** Interest is paid gross, without the deduction of tax. In accordance with the EU Savings Tax Directive , automatic exchange of information applies where individuals are resident in the European Union.

FAQs and Financial Services Compensation Scheme (FSCS) inforrmation

We’ve answered your most common questions about our foreign exchange services and the Currency Access Account.
Read the FAQs >
Please read this important information about your rights under the United Kingdom’s Financial Services Compensation Scheme. 
FSCS information >

Talk to a private banker about your FX requirements