Currency access

Our savings account offering access to 15 currencies with same day access

£300k

Minimum yearly earnings

£3m

Net worth

To open a new Currency Access account you must be an existing Investec Private Bank client who:

is a UK or SA resident
has a transactional banking account with Investec Private Bank

Please note these accounts are for personal use only.

Not a Private Banking client? Apply now

Your eligible deposits of up to £85,000 are protected under the UK's Financial Services Compensation Scheme (FSCS).

A dedicated foreign currency account

Interest paid monthly

Earn up to 3.69% gross p.a.^ / 3.75% AER* (variable) on selected currencies**
Interest (where applicable) is calculated daily and paid on a monthly basis and differs between currencies. See a full list of interest rates below for more details.

Same day access to funds

This account is designed for moving money through different currencies, no notice required.

Managed by your Private Banker

Our Private Bank savings accounts are overseen by your Private Banker, but can also be managed by you via Investec Online or the Investec App.

**Rates differ between currencies. See our full details below. If you don't meet the criteria to become a Private Banking client, you can still earn a competitive interest rate on amounts between £5k and £250k by opening an Investec Save account.

Key product information summary box

What is the interest rate?

Product	Currency	Gross	AER*
Sterling	GBP	3.69%	3.75%
South African Rand ***	ZAR	3.20%	3.25%
US Dollar ***	USD	2.96%	3.04%
Euro ***	EUR	1.95%	2.00%
Australian Dollar	AUD	0.00%	0.00%
Canadian Dollar	CAD	0.00%	0.00%
New Zealand Dollar	NZD	0.00%	0.00%
Japanese Yen	JPY	0.00%	0.00%
Swedish Krona	SEK	0.00%	0.00%
Swiss Franc	CHF	0.00%	0.00%
Danish Krona	DKK	0.00%	0.00%
Singapore Dollar	SGD	0.00%	0.00%
Israeli Shekel	SGD	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.

*** Please be aware of the below rate reductions on these accounts with effective date 20th Jan 2025.

Product	Currency	Gross	AER*
South African Rand	ZAR	0.00%	0.00%
US Dollar	USD	2.46%	2.52%
Euro	EUR	1.60%	1.63%

Can Investec change the interest rate?

Investec can change the interest rate.

We will give you notice of any change to the interest rate in accordance with section 9 of the Investec Bank plc Banking Relationship Agreement which can be found at Investec.com/termsandconditions.

We will tell you by email if and when we change the interest rate.

What would the estimated balance be after 12 months based on a £1,000 deposit?

At current interest rates the estimated balance of a £1,000 deposit would be £1037.52 after 12 months (non leap year). Illustrative examples of other currencies shown below:

Currency	Initial Deposit	Estimate Balance (Gross P.A.^) From 20 January 2025
Sterling (GBP)	1000 GBP	1037.52 GBP
South African rand (ZAR) ***	1000 ZAR	1000.00 ZAR
US dollar (USD) ***	1000 USD	1025.23 USD
Euro (EUR) ***	1000 EUR	1016.34 EUR

These examples are illustrative only and are based on the assumption that the initial deposit does not change throughout the period, there are no changes to the rate and interest is paid back into the Currency Access Account on a monthly basis.
*** Rate changes effective 20 January 2025

How do I open and manage my account?

This account can be opened and managed via Investec Online or over the telephone.

No minimum initial deposit requirement.

There is no maximum balance limit. We may, however, decline to accept your application/additional deposits to avoid excessive exposure to a single client if we consider the total value of deposits you hold with us exceeds a limit we consider reasonable.
Can I withdraw money?

Funds can be withdrawn without giving notice by telephone or via Investec Online.
Additional information

Direct debits and standing orders cannot be set up on this account.

Where applicable, interest will be paid without tax being deducted.

Your tax treatment of the interest receipt will depend on your individual circumstances and if you have any specific tax questions, you should seek professional tax advice. Alternatively, further guidance can be found on the HMRC website.

Please note that your tax treatment may be subject to change in the future.

Other FAQs

Is tax deducted from interest payments?

Where applicable, interest will be paid without tax being deducted. Your tax treatment of the interest receipt will depend on your individual circumstances and if you have any specific tax questions, you should seek professional tax advice. Alternatively, further guidance can be found on the HMRC website.

Please note that your tax treatment may be subject to change in the future.
What if I don't qualify to be a Private Banking client?

If you don't have an annual income of £300,000 and a net asset value of £3 million to become a Private Banking client, you can still earn a competitive interest rate on balances over £5,000 by opening one of Investec Save accounts and managing the account yourself online.

We offer one and three month notice savings accounts that pay a higher interest rate in return for you needing to give us one or three months' notice to make a withdrawal.

Download the Currency Access Account Factsheet PDF 473.89 KB

I’m a Private Banking client

Apply today in Investec Online.

Log into Investec Online.
Choose 'Open a new account' on your dashboard.
Go to the 'Save' tab, or find it via the Bank category on the 'For you' page.

I'm not yet a Private Banking client

[email protected]

+44 (0)20 7597 4050

Investec Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 172330. Registered in England and Wales (No. 489604). Registered office at 30 Gresham Street, London, EC2V 7QP. Member of the London Stock Exchange.

^Gross p.a. is the rate of interest before any tax is deducted.

*AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once a year. The AER is intended to be an indicative rate to help you compare the return on different savings products.

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