How do I make foreign currency payments online?

Foreign exchange services are a fully integrated part of Investec’s private banking offering. We’ve recently made some changes to ensure that it’s even more efficient to make international payments online. Here is an overview of how the service works.

What are our new online transaction limits?

Whereas previously you would only be able to make foreign currency payments online of up to £20,000 per payment, we have listened to our clients’ needs and increased the limit to £100,000.

This means that you will be able to make much larger international payments from your Investec Voyage, Private Bank or Currency Access account, using Investec Online or the Investec app.

What are the benefits of the increased transaction limit?

We’ve introduced the increased transaction limit as part of our continued focus on making the service we provide as efficient as possible. 

Being able to make larger foreign currency payments online or through our app may save time and allow you to send money on-the-go.

What is a live exchange rate?

A live exchange rate is a currency exchange rate that is updated in real time. Investec has now introduced a live rate for online foreign currency payments between 8am and 5pm. This means your transactions will reflect market fluctuations during these times. You should note that exchange rates move very frequently (often several times in a day) as they depend on the financial markets.

Can I still make telephone transactions if I want to?

Our FX dealers are still available to support you. Plus, you’ll still need to give us a call if you would like to make foreign currency payments over £100,000.

Together, this means you will be able to access the combined expertise of your dedicated private banker and FX dealer, with the convenience of a secure online platform and app, to simplify your currency exchange and international payment requirements.

Is there anything else I should keep in mind?

All payments are subject to our cut off times. Cut off times explain how long it takes for your payment to get to other person's account provider. You can view cut off times on our website. They’re also set out in your Relationship Agreement. You can ask us for a copy at any time.

There are some countries we don’t allow you to make international payments to and although we’re able to offer a wide variety of currencies, we can’t facilitate payments in all currencies. Please contact your private banker or an FX dealer for more information.

Important Information: 

Minimum eligibility criteria and terms and conditions apply.
You can only book an FX Forward which is for an underlying personal or commercial spending purpose. You cannot book an FX Forward for investment or speculative purposes, for example in order to achieve a gain based on movements in exchange rates. Also, you cannot book an FX Forward on behalf of any other person. Additional terms and eligibility criteria apply for FX Forwards.

Investec residential mortgages are only available for residential properties in England or Wales and are primarily available to UK residents and subject to eligibility. Your property may be repossessed if you do not keep up repayments on your mortgage.