Cameron: Private banking services are designed to support the needs of high-net-worth individuals and you may find that working with a specialist saves you time, makes life easier and helps you seize opportunities. One of the simplest steps you can take is to ensure your bank account allows you to move your money in the ways you need to.

For example, my private banking team specifically works with fund management specialists. Many of our clients tell us that they have been frustrated by mainstream transfer limits on occasions when they need to respond to capital calls or make a significant purchase. Typically, maximum daily transfer limits for current accounts range between £15,000 and £25,000. However, with an Investec private bank account, you can move up to £1m a day online or authorise an unlimited transfer via your private banker. This can dramatically reduce the time and hassle experienced when instructing a payment transaction.

Another important consideration is the management of foreign currency income. If you work for US dollar- or euro-denominated funds, for example, and some of your income is non-sterling, an adjacent currency account will allow you to view and manage your balances in one place. Investec Currency Access accounts are available in 15 currencies, are free of charge, have no minimum balance requirement and at present pay interest on funds held in US dollars, euros, rands and Australian dollars. While there is an online daily transfer limit of £100,000, larger sums can be transferred by instructing our in-house foreign exchange (FX) dealers. This could allow you greater visibility and control in times of market volatility. The FX team can also help manage your currency exposure by monitoring rates, placing market orders, or setting exchange rates for future trades with forward contracts.

Finally, you may be looking to earn interest on a large GBP savings balance. We offer a suite of deposit solutions, with varying maturities, which pay an attractive return relative to market, while allowing access to cash with a one-month or three-month notice period. In addition, higher interest rates are paid on higher balances, with interest rates of more than 5% per annum (gross) earned on deposits of more than £1m.

While the options for what to do with your money might sound vast, at the heart of private banking is a personal relationship manager who will oversee the services you need. Not only can we help you explore your day-to-day transactional banking needs but we can connect you with the expertise of Investec Wealth and Investment (UK)’s specialist wealth managers, who can look at how to potentially diversify and structure your wealth as we enter the new financial year and beyond. Please get in touch if you would like more information.

Find out more about how an Investec private banker can help you.

Important Information: 

This article is for general information purposes only. The opinions featured are not to be considered as the opinions of Investec Bank plc and do not constitute financial or other advice. It is advisable to contact a professional advisor if you need financial advice. Your use of and reliance on any of this content is entirely at your own risk.

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

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.

Wealth management services are available through our strategic partnership with Rathbones Group, the UK’s largest discretionary wealth manager.